Australia-New Zealand

CBA Pays Up to Keep Banking Services in Post Offices

NAB, ANZ and Westpac are under pressure to pay Australia Post to offer banking services as a way to restore public trust and maintain services in regional areas after Commonwealth Bank agreed to fork out $22 million every year.

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New Digital Bank “Up” Launches in Australia

New digital bank Up has officially launched in Australia today following a successful two-month beta trial with more than 1,500 customers. Up is a fully-digital, cloud-hosted bank run through an app offering multiple savings accounts, called Life Savers, with an interest rate of up to 2.75 p.a. and no fees.

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BNZ Partners With IBM for Cross-channel Fraud Prevention

Bank of New Zealand says it is deploying IBM Safer Payments, a modern transaction monitoring system that allows banks to intercept fraudulent activity before it happens, while ensuring customers’ genuine transactions are not stopped in error.

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Australia and US Strike Deal to Share Fintech Trends and Developments

Information-sharing on fintech market trends will be easier between Australian and US companies as a result of a new agreement signed between the two nations.

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Luxembourg, Australia Regulators Enter Fintech, Regtech Deal

Financial regulators CSSF, ASIC to share information, financial innovation between jurisdictions Sydney, AustraliaPhoto: Shutterstock Luxembourg’s financial regulator has signed an agreement with its Australian counterpart to ensure a framework for sharing information on fintech and regtech.

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CommBank Notes Rise in Local Mobile Payments Use

Australia is proving to be fertile ground for mobile payments, as revealed by a recent study from Commonwealth Bank. As it turns out, customers are increasingly calling for mobile payment services, so much so that, in just the six months between January and June 2018, mobile payments use was up over 35 percent. The raw […]

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Digital Disruption Is Changing Us for Better and Worse

Staying with leisure, who hasn’t passed many pleasant hours watching You Tube? Or spent hours on Facebook – still the only commercially significant social medium – thinking how much more exciting their friends’ adventures are compared to their own, or how better-looking or happier their grandkids are.

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The Case for New Zealand’s Own Cryptocurrency

While smoothing the way for exchanges to flourish and banks to facilitate crypto transactions would jumpstart the sector, a huge boost would come in the form of the Reserve Bank issuing its own official cryptocurrency to sit alongside the New Zealand dollar, the eKiwi if you like.

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Australia’s CommBank Sees Surge in Mobile Payments

New data from Commonwealth Bank in Australia reveals customers are increasingly reaching for their smartphones instead of their wallets at the checkout, with user growth up 35 percent in the past six months, according to a press release. With five million CommBank app users, tap and pay transactions have numbered 16.

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APRA Warns Banks on IT Under-investment and Messy Data

The prudential regulator is worried banks have spent too little maintaining computer systems, which could lead to more IT outages further eroding trust in the financial system, and warned them to boost investment spending.

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Australians Embracing Fintech as They Move Away From Traditional Payment Solutions

Australian appetite for fintech services is on the up, with non-bank contactless or card-less mobile payment solutions now being used more than bank-owned payment solutions, according to recent research from market research company Roy Morgan.

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Australian Agency Claims Blockchain Breakthrough

A federal science agency in Australia has claimed a world first after completing testing on a global blockchain network that is capable of processing 30,000 cross-border transactions per second.

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