Government brings open banking to parliament
The Consumer Data Right legislation, that will enact open banking will be seen by parliament this week according to the Treasurer.
CEO of newly approved bank aims at big four
Robert Bell, CEO of Australia’s newest bank, 86 400, is not interested in creating a “small, niche bank” but wants to create a competitor to the big four.
IMF warns banks must evolve or be ‘left behind’ amid the rise of digital money
“The Rise of Digital Money” noted that cash and bank deposits, which are currently the most common forms of money, will “face tough competition.”
86 400 granted full banking licence
86 400 is officially Australia’s newest bank, having been granted a full Authorised Deposit-taking Institution (ADI) licence by APRA.
Fintech Waddle in talks with local banks after RBS deal in UK
Fintech Waddle is now looking to partner with traditional banks, rather than disrupt them, following the success of a deal with RBS
Fintechs need ‘competition champion’ in APRA
APRA advised to create a “competition champion” in their organisation so its traditional priority of financial safety does not block new banking competitors
Challenger bank Archa avoids dirty word for Gens Y & Z
The founder of Australian challenger bank Archa has his sights set on launching the company’s first products to customers next quarter
How investment banks can respond to the fintech challenge
How can investment banks respond to this challenge? Well, almost 80% of financial institutions have entered into fintech partnerships.
