While major banks face plenty of challenges, do these neobank start-ups really stand a chance against the might of the big four?
As Buy Now Pay Later becomes more popular, young Aussies are bidding farewell to credit cards and some of the big financial players are taking notice.
Data Action has announced that it has signed a major strategic partnership with one of the largest mutual banks in the country, Greater Bank.
Australians haven’t fully embraced digital-only banks, but open banking could change that: Forrester
Across APAC consumers increasingly prefer digital channels for financial services, helping digital-only banks overcome incumbents’ traditional trust.
Afterpay CEO Anthony Eisen has hit back at CBA’s entry into the buy now pay later sector, declaring Swedish rival Klarna was more like a traditional lender.
China’s central bank is nearly ready to issue its own sovereign digital currency, according to a senior official at the People’s Bank of China.
iSignthis now boasts a market cap of over $1 billion and is looking like a real neobank challenger to the CBA and the other Big Four banks.
The ESA changes, whilst paving the way for fintechs to compete on a more even playing field, do not stipulate any restrictions on multinational tech giants