ANZ, CBA, Westpac, Scentre, IBM form bank guarantee blockchain company
ANZ, CBA and Westpac, with Westfield shopping centre operator Scentre and IBM, are building a blockchain-based platform for bank guarantees called Lygon.
Open banking faces delay due to data concerns
Open banking could be delayed after Labor said it was unlikely to pass the requisite legislation by the end of this month due to data concerns.
Banks could implement an open banking solution in three months
Australia’s banks could implement a solution in three months that meets ACCC’s Open Banking pilot regime protocols and ASIC’s new responsible lending principles
Two new fintech players in lending and deposits
RBA data shows that approved deposit taking institutions (ADIs, mainly the banks) held $624 billion of deposits in term accounts as of April 2019
Fintechs say bank claims are bulldust
Australian fintech companies are calling bulldust on bank claims that responsible lending proposals will be hard to implement, costly and inaccurate.
The spectre of cryptocurrency is spurring banks into action
Goldman Sachs is weighing the idea of launching a cryptocurrency of its own, CEO David Solomon said late last week.
Industries leaders express their views on Australia’s open banking regime
Australia’s open banking regime commenced yesterday, 1 July, 2019. Here’s what some of the industry leaders had to say about the launch.
Central banks should issue digital currencies of their own
Because digital money is naturally cross-border, it opens the way to new forms of currency competition, from Libra among others.
