banking

Sep
16

The CBA has joined eight other massive banks to take the technology behind bitcoin mainstream | Business Insider

Nine of the world’s biggest banks on Tuesday threw their weight behind blockchain, the technology that powers bitcoin. Barclays, BBVA, Commonwealth Bank of Australia, Credit Suisse, JPMorgan, State Street, Royal Bank of Scotland, and UBS have all formed a partnership to draw up industry standards and protocols for using the blockchain in banking. The partnership […]

By Australian FinTech | Banking . FinTech
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Sep
09

Bitcoin could disrupt banks warns Westpac boss | afr.com

How long will it be until Bitcoin starts to make a real impact on the incumbent banks…??? Westpac Banking Corp chief Brian Hartzer describes bitcoin and the blockchain as “potentially disruptive” technologies which could be “quite powerful from an efficiency point of view” but says there’s no need for banks to panic about being cut […]

By Australian FinTech | Banking . FinTech
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Sep
08

ANZ vows to take fight to fintech start-ups | The Australian

ANZ has hit back at suggestions that banks only innovate for short-term gains, declaring other industries should be worried about being put out of business by the banking sector. Meanwhile, Westpac chief Brian Hartzer said it was actually important for banks to not get too “mesmerised” by innovation and “inventing cool new stuff”, remembering that […]

By Australian FinTech | Banking . FinTech . Investing . Venture Capital
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Sep
07

ANZ, Bendigo join Matchi fintech platform | afr.com

Here’s another article on how some of the big incumbent banks are getting in on the fintech act… ANZ Banking Group and Bendigo and Adelaide Bank have joined a global matchmaking platform called Matchi, to help them link with global start-ups, in a sign incumbents are not limiting their engagement with fintech to local hubs […]

By Australian FinTech | Banking . FinTech . Investing
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Aug
30

Bruce Billson endorses disruptive online SME lenders

Fantastic article featuring many Australian FinTech companies and their ability to cause disruption to the big banks. Also great news to see the Australian government supporting this disruption. The Minister for Small Business Bruce Billson has backed a flurry of new online lenders targeting small and medium businesses to pressure the big banks to extend […]

By Australian FinTech | Banking . Borrowing . FinTech . Peer-to-Peer
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Aug
10

Start-up delivers access to cheap mortgages

Australian fintech companies like HashChing are great disruptors to the mortgage industry. The banks should be very wary of companies like these… It is a never-ending battle for consumers to seek out the cheapest home loans in the market. With interest rates at record low levels, consumers are actively searching to lock in mortgages for […]

By Australian FinTech | Banking . Borrowing . FinTech
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Aug
02

Mobile banking tipped to wipe out 600 branches

This is a very interesting scenario… Great for banking but not so great for bank employees… The proliferation of smartphones provides banks with an unprecedented opportunity to slash overheads and boost profits and will lead to the widespread closure of branches as more customers bank on the move, a survey by investment bank UBS shows. […]

By Australian FinTech | Banking . FinTech
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NAB Ventures created to invest $50m in fintech

It seems the big banks are getting behind Australian FinTech which is great to see!   National Australia Bank has created an “innovation fund” that plans to invest $50 million over the next three years in Australian and offshore start-ups to enhance the bank’s development of customer-centric products and applications. Source: NAB Ventures created to […]

By Australian FinTech | Banking . Investing
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