banking

Mar
26

Australia’s Consumer Data Right to open banking

by Doug Morris, CEO, Sharesight In collaboration with Fintech Australia, Sharesight has officially endorsed a submission on the Treasury Laws Amendment (Consumer Data Right) Bill 2019 that seeks to create the Consumer Data Right (CDR) with an amendment to the Competition and Consumer Act 2010. The Consumer Data Right (CDR) will mandate that banks and […]

By Reposted by Australian FinTech | Banking . FinTech
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Mar
22

Why more Aussies are turning to peer-to-peer loans

The Royal Commission into the banks and financial services unveiled a series of disturbing, infuriating and unsurprising truths. Australia’s response to the findings could send tremors through the financial services sector as the search for alternatives to the incumbent providers becomes more urgent. It means peer-to-peer loans – which have already seen significant gains – […]

By Reposted by Australian FinTech | Banking . Borrowing . FinTech . Lending . Peer-to-Peer
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Mar
20

Banks must prioritise NPP, says Reserve Bank

The $1 billion New Payment Platform seems to be another headache for the big banks. Reserve Bank governor Philip Lowe asked the chief executives of the big four to confirm they are putting significant resources into rolling out the high speed payment system last year. In emails sent by Lowe to the chief executives of […]

By Reposted by Australian FinTech | Banking . FinTech . Payments
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Mar
19

Westpac abandons financial advice

Westpac will get out of the troubled personal advice sector and two of its top executives will depart the bank as it joins its big-four rivals in abandoning the once-dominant model of vertical integration. The bank announced on Tuesday it would exit the high-cost, loss-making business, producing $280 million in savings by 2020. Westpac group […]

By Reposted by Australian FinTech | Banking . FinTech
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Mar
18

A fintech wanting to be ‘Australia’s leading migrant bank’ has launched a $4 million placement

There are plenty of fintechs and plenty of small caps seeking money from Chinese consumers, but few companies that are both. Novatti (ASX: NOV) is one of them. The ASX-listed small cap is a holding company for half a dozen fintech platforms. One of these is chinapayments.com which allows Chinese people in Australia to pay […]

By Reposted by Australian FinTech | Banking . Currency . FinTech . Payments
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Mar
18

Digital wallet payments surge on Apple Pay: CBA

The Commonwealth Bank says the number of digital wallet transactions has nearly tripled since it launched Apple Pay earlier this year, as strong growth in tap-and-go payments continues to displace cash. After CBA in late January became the second big four lender to offer the payment service — which allows consumers to make purchases by […]

By Reposted by Australian FinTech | Banking . FinTech . Payments
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Mar
15

UBank launches world’s first consumer Green Term Deposit certified by the Climate Bonds Initiative

UBank is now offering Australians with a sustainable way to invest with today’s launch of the world’s first Green Term Deposit in the customer space certified by the Climate Bonds Initiative (CBI). UBank’s Green Term Deposit is matched to a portfolio of renewable energy projects such as wind and solar power, and low carbon transport […]

By Australian FinTech | Banking . FinTech . Investing
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Mar
13

Identitii commences phase two with HSBC

Identitii Limited (ASX:ID8), the FinTech company enabling banks and corporates to securely exchange intelligent information in real-time, is pleased to announce further engagement with global tier one bank, HSBC Global Services (UK) Limited. Following the successful completion of phase one of its project with HSBC, a customer since 2017, Identitii has commenced work on phase […]

By Australian FinTech | Banking . FinTech
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