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
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
Global banks’ 2024 outlook is ‘negative’: Moody’s
The US rating firm says banks are poised to struggle as tight financial conditions and an expected economic slowdown sting.
- Timothy Moore
Westpac restores online banking after update triggered outage
Shortly after 5am on Tuesday, Westpac said that services have been restored after an eight-hour interruption.
- Updated
November
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
October
Float hopeful Cuscal reveals revenue and cost growth ahead of roadshow
As investor meetings for a planned November IPO kick off next week, Cuscal’s annual report provides a snapshot of the payment company’s growth and challenges.
- James Eyers
September
How this power company fixes blackouts in 70 seconds
Endeavour Energy, the winner of the energy sector in the AFR Digital Transformation Awards, has transformed how the company’s technicians manage the network.
- Edmund Tadros
August
Treasury considers an end to bank account password sharing
A consultation paper has asked fintech start-ups and banks to describe the impact of banning screen scraping and whether the CDR is ready to replace it.
- James Eyers
May
Westpac taps open banking regime to speed up 10-minute mortgages
The bank’s head of mortgages said the government’s consumer data right would provide a more secure and faster way to assess borrower income to approve a loan.
- James Eyers
ACCC deposit inquiry to target bank errors reporting interest rates
Start-up Stay or Go found 970 incorrect interest rates for major bank deposit products reported into the consumer data right, flagging a new compliance risk.
- Updated
- James Eyers
Banks say ‘consent fatigue’ among risks in privacy reform
The Australian Banking Association says changes to the privacy act under consideration by the Attorney-General will lead to unintended consequences.
- James Eyers
April
- Sponsored
- Industry Insight
- PwC
A human-led approach is critical to tech-powered success
The banking transition taking place in Australia right now must blend digital and human to meet changing customer expectations.
Sponsored
by PwC Australia
Credit Suisse star trader lands at Barrenjoey
Everyone knows there’s talent inside the Credit Suisse franchise. Now it’s up for grabs.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Soul Patts cashes out of Regis; Aitken Mount handles trade
The trade comes just two weeks after Bain Capital put rival Estia back in the M&A spotlight.
- Sarah Thompson, Kanika Sood and Emma Rapaport
ACCC flags tougher enforcement on ‘open banking’
A report on the implementation of the consumer data right has called for banks to resolve “outstanding data quality incidents as a priority”.
- James Eyers
March
NAB, Westpac sell stakes in open banking start-up Basiq
The fintech deal points to the looming consolidation of payments, data analysis and digital identity under the consumer data right.
- James Eyers
From front counter to CEO: how this bank boss made it
The time spent working as bank teller during her first job at St George is fresh in the mind of ING boss Melanie Evans even today.
- Sally Patten
ING backs open banking structure despite past breaches
CEO Melanie Evans says the $53,280 penalty imposed by the ACCC for four infringement notices related to missed deadlines rather than problems with the data.
- Sally Patten
February
CBA business banking boss lays down his plan to beat NAB
The bank will target up to $1b in invoice financing and tap its retail customers as it ramps up plans to expand lending in the division.
- James Eyers
ING under fire for canning open banking consents in tech upgrade
Industry groups FDATA and FinTech Australia have called on the ACCC to act, alleging changes to ING’s data sharing platform could breach CDR rules.
- James Eyers
