Government brings open banking to parliament

The Consumer Data Right legislation, that will enact open banking will be seen by parliament this week according to the Treasurer.


Derived data to be included in open banking: Treasury

Derived data exists in the 1988 Privacy Act and refers to any data that is not raw; for instance, data that is changed from one format to another.


IRESS announces acquisition of international market data provider QuantHouse

IRESS announced it has acquired QuantHouse, a leading international provider of market data and trading infrastructure. The purchase price is up to €38.9m.


Australian FinTech company profile #19 – Fabric

Fabric is a developer-friendly Open Banking service layer where users are able to securely authenticate their banking credentials


Australian FinTech company profile #15 – 9 Spokes

ASX-listed 9 Spokes help SMEs enhance their performance by collating and visualising the SME’s data


Keeping up with data in the financial landscape of the future

By Scott Hubbard, Managing Director ANZ, MapR   Changing consumer behaviour and the growing need for customer centricity are reshaping the banking and financial services industry (BFSI), however underpinning this is data and applications. We are now living in a world where a massive amount of data is being generated by an increasing number of sources and it’s up to organisations to take advantage. In fact, IDC reports that worldwide revenues for big data and business analytics will reach $260 billion USD in 2022. For banks, the increase in both scale and speed of their applications and data processing, means they can leverage data analytics to create better services for […]


Banks will assess loans using real spending data: Basiq

A start-up backed by Westpac and National Australia Bank has developed software to read bank account data and automate the loan assessment process for banks, allowing them to base lending decisions on actual customer spending rather than relying on estimates and indexes. Basiq’​s system is being used by Regional Australia Bank, whose chief risk officer Campbell Nicoll says asking customers to estimate spending in various categories during an application process no longer cuts it. “People have just been guessing their expenses,” he said. “But Basiq plugs into our bank, extracts two years of transaction data, categorises it – and that and gives us the true picture on expenses.” The Australian […]


Data Republic launches world first technology for privacy-preserving data matching

Data Republic, Australia’s leading data sharing governance platform, today announced the launch of Senate Matching, a new de-identification and privacy-preserving data matching feature for users of Data Republic’s Senate platform. In today’s digital environment, data matching is the engine which drives everything from loyalty programs, to credit scores, fraud prevention and providing online customer service. When organisations prepare datasets to perform matching, customer personally identifiable information (PII) can be put at risk of being lost or stolen through common hashing and encryption methods which rely on some form of PII being present or referenced. Data Republic’s Senate Matching technology revolutionises customer privacy protections when matching data by providing a more […]