banks

Apr
16

What does NPP mean for businesses and how on earth do they implement it?

Since going live on the 13th of February last year, retail banking customers have adopted NPP on mass. In fact, a number of major banks now use the NPP as a default method of transferring funds between Australian accounts. However, so far, progress has been slower for businesses despite some obvious benefits of real-time, data-rich, [...]
By Australian FinTech | Banking . FinTech . Payments
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Apr
12

The Bitcoin Times – Officially Launched

The Bitcoin Times was created to cut through all the bulls#*% you may have read or heard about Bitcoin…(there’s lots of it). It’s not about “blockchain”, nor is it about “crypto”. It’s about what matters. It’s dedicated to Bitcoin, as a concept, as a monetary phenomenon & as a new form of global, digital collaboration [...]
By Australian FinTech | Bitcoin . Blockchain . FinTech
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Apr
12

From devolution to revolution: re-bundling the banks

Glenn Hodgeman, owner of the AltFi Australasia Summit, suggests that re-bundling and white labelling may be the future of lending in Australia. As Bill Gates once famously stated, “We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten”. But given the [...]
By Australian FinTech | Banking . FinTech
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Apr
12

Aussie fintech Volt Bank starts by asking consumers what they want

In January, the Australian Prudential Regulation Authority (APRA) gave fintech startup Volt Bank a licence to operate without restrictions as an authorised deposit-taking institution (ADI). The green light was given to the new player following APRA approval in May 2018 to act in the Australian finance market as a Restricted ADI. The APRA approval gave [...]
By Reposted by Australian FinTech | Banking . FinTech
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Apr
04

ANZ leads regulators towards trade finance blockchain

Regulators in Hong Kong, Singapore and China are working with ANZ Banking Group to digitise trade finance through blockchain technology, a move that will enable banks to make faster lending decisions and regulators to better monitor international capital flows. ANZ is one of seven banks to create the eTradeConnect platform, which allows importers and exporters […]

By Reposted by Australian FinTech | Banking . Blockchain . FinTech . Payments
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Apr
02

Square partners with Australia’s community banks to help regional SMBs go digital

Today, global payments provider Square, Inc. (NYSE: SQ) announced it is teaming up with  Unity Bank, Southern Cross Credit Union and the WAW Credit Union in a string of regional partnerships that will give more small businesses outside of Australia’s capital cities greater access to innovative payments technology. Small businesses across regional New South Wales, […]

By Australian FinTech | Banking . FinTech . Payments
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Apr
01

Blockchain boost as HSBC links Australia and China

Blockchain has long been cited as one of the upcoming technologies to solve many of the world’s current financial problems when it comes to cross-border trade, and it appears to have taken another step forward this week as HSBC confirms it has been able to link a transaction between Australia and China. The development is […]

By Reposted by Australian FinTech | Banking . Blockchain . FinTech . Payments
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Mar
27

RBA warns the banks ‘don’t be stingy’

The Reserve Bank of Australia has warned banks to loosen up their lending practices when approving home loan applications. Following the Royal Commission banks have become cautious and their frontline lending staff are knocking back home loan applications which usually would get approved. Speaking at a function in Perth, Reserve Bank assistant governor Michelle Bullock […]

By Reposted by Australian FinTech | Banking . Borrowing . FinTech . Lending . Mortgage
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