Australia’s ‘Big Four’ to Be Initial Target for Open Banking

The Australian Competition and Consumer Commission is proposing that only Australia’s big four banks – ANZ, the Commonwealth Bank of Australia, NAB and Westpac – will initially be subject to the new open banking regime. The new open banking rules will function as a subset of the yet-to-be-legislated Consumer Data Right (CDR).

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RBA Chief Blames Big Banks for Sluggish PayID Adoption

Reserve Bank of Australia governor Dr Philip Lowe says that take-up of the PayID system – which is based on the New Payments Platform – has so far been less than earlier industry projections. The NPP has its public debut earlier this year.

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What Are the Biggest Risks Fintech Poses to UK Banks?

It has become something of a truism in the banking industry: the rise of innovative fintech solutions are posing an ever-growing risk to the established banking business models.

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