Yesterday
ACCC wants switching banks to be as easy as ditching mobile providers
Gina Cass-Gottlieb’s ACCC deposit inquiry calls for Australia to introduce an account switching service like the ones that operate in Britain and the Netherlands.
- James Eyers
This Month
This billionaire started his company to avoid paying bank fees
Kristo Käärmann found a cheap way to send British pounds to his native Estonia. His solution now has 16 million global users.
- James Eyers
ACCC lashes banks for ‘opaque’ pricing of savings products
The ACCC has called for banks to notify customers of changes to bonus savings rates to help them switch, in the final report of its retail deposits inquiry.
- James Eyers
Westpac boss to fly to Tiwi Islands to discuss Santos project
After a four-hour AGM in Brisbane, Peter King has committed to visiting the Tiwi following concerns about consultation on Santos’ Barossa project.
- James Eyers
Activist pressures weigh on Santos’ PNG growth
Slow work on financing the $US12 billion Papua LNG project come as ExxonMobil voices ambitions for further major gas growth tapping the Wildebeest prospect.
- Angela Macdonald-Smith
Bullock says banks should bear more costs of moving banknotes
The RBA governor’s comments come amid negotiations with cash transport firm Armaguard, which has warned it needs an injection of funds to operate.
- Updated
- James Eyers
The fate of ANZ and Suncorp deal is in the hands of these three people
The high-stakes legal battle over whether the $4.9 billion transaction should proceed is half done. And so far, it is unclear who’s on top.
- James Eyers
Banks warn of mortgage rises from deposit rate intervention
MyState CEO Brett Morgan says, “in any intervention, there is a benefit and there is a cost”.
- Updated
- Lucas Baird
- Updated
- AGM season
Late, overloaded board papers blindsided directors: BoQ chair
Shareholders delivered a stinging rebuke to Bank of Queensland after risk failures triggered two regulatory actions this year.
- Liam Walsh
What AusPost needs to upgrade its banking services
Hot on the heels of Armaguard, Australia Post says it also needs more investment from banks to upgrade its regional outlets to provide cash where branches have left.
- James Eyers
Bendigo says it can make ‘compelling’ offer for Suncorp Bank
The Australian Competition Tribunal’s hearing, starting on Monday, will reconsider the ACCC’s rejection of ANZ’s takeover of Suncorp Bank.
- James Eyers
November
Armaguard boss laments cash rebound that never came
Mick Cronin says the decline of cash is steeper than it forecast two years ago when merger discussions begun, and “this is a permanent problem”.
- James Eyers
Banks call for crisis talks as cash transport firm teeters
The banks want ACCC approval to negotiate with Armaguard, after its surprise request for a cash injection 5 months after the ACCC approved its monopoly merger.
- James Eyers
CBA’s Yello rewards program takes leaf out of Afterpay’s playbook
The bank’s new rewards program, being used by 8 million users of its banking app, is driving new sales to a host of large retailers.
- James Eyers
- Opinion
- Chanticleer
Why CBA’s latest tech push comes back to the mortgage war
CBA’s recent mortgage losses have shone a spotlight on its sky-high valuation. CEO Matt Comyn’s fresh slate of tech investments is aimed at convincing the market it’s the long term that matters.
- James Thomson
Finance upstarts step in where banks fear to tread
Making it easier to send money back to family overseas was the key driver for the founders of EzyRemit.
- Alexandra Cain
- Opinion
- Fast 100
The category killers that defy any slowdown
Technology innovations can catch on no matter the economic weather, as this year’s lists show.
- Michael Bailey
Fintechs among the fastest, but rising rates to dampen the party
The era of fast growth at all costs is over, with rising rates drying up the abundant liquidity that helped spur phase one of these companies’ successes.
- Ayesha de Kretser
Plenti soars after striking deal with NAB for EV, solar loans
The bank will use Plenti’s technology to write co-branded, secured car loans, and send customers seeking renewable energy finance to the ASX-listed fintech.
- James Eyers
BNPL laws delayed until new year amid legislative drafting constraints
Minister Stephen Jones said resourcing pressures would push back finalising a bill to bring Afterpay and Zip under the credit act until early next year.
- James Eyers
