open banking

May
23

APIs and digital transformation will be key in the mortgage market, says IRESS

IRESS says that API’s, digital transformation and robo-advice have dominated the survey as areas which lenders believe will impact the mortgage market.

By Reposted by Australian FinTech | FinTech . Mortgage
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May
20

Why your bank is set to offer ‘lifestyle services’

Open banking has forced the UK’s big banks to use financial services from other players and to offer lifestyle services such as sourcing mobile phone or energy plans

By Reposted by Australian FinTech | Banking . FinTech
DETAIL
May
14

Open banking set to be a ‘game changer’ with more power for customers

Open banking means the CBA, Westpac, ANZ and NAB will have to make credit card, deposit and transaction data available if customers request it.

By Reposted by Australian FinTech | Banking . FinTech
DETAIL
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
DETAIL
Feb
19

Fintechs are ready and waiting for Australia’s open banking framework

The Consumer Data Right bill has been introduced to parliament. The national association for Australia’s fintech startup community FinTech Australia, as well as its members, have welcomed the progress of Australia’s Consumer Data Right bill. The bill was introduced to parliament by Federal Treasurer Josh Frydenberg and gives Australians control over the use of their […]

By Elizabeth Barry | Banking . FinTech
DETAIL
Feb
05

Bank sector transformation will come with open banking, competition: Xinja

Australian neobank Xinja said transformation of the financial services sector, described by Royal Commissioner Kenneth Hayne as often driven by greed, will only happen when consumers have clear choice, and can move easily and quickly between banks and other providers within the banking sector. The final report from the financial services Royal Commission paints a […]

By Australian FinTech | Banking . FinTech
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Feb
04

Australian regulator vows to tackle ‘cosy oligopoly’ of big banks

Australia’s competition regulator plans to wrest open the “cosy oligopoly” of the country’s four largest banks and punish misconduct via the courts, saying competition is the best way to fix the troubled sector. In an interview before the publication of a public inquiry report into the finance sector on Monday, Rod Sims, chief executive of […]

By Reposted by Australian FinTech | Banking . FinTech
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Jan
17

Open banking quietly delayed

The much-anticipated launch of open banking in Australia has been quietly delayed by the federal government by eight months. On the last Friday before Christmas, a day typically used to “take out the trash” and make some unfavorable or unpopular announcements, Treasurer Josh Frydenberg put out a statement late in the afternoon revealing that the […]

By Reposted by Australian FinTech | Banking . FinTech
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