Banking

Jun
20

Deposits lift on Apple Pay, says ANZ Bank

Almost two months after it signed a deal to provide Apple Pay, ANZ Bank says teaming up with the technology giant is prompting more customers to open accounts, or start using credit cards that had been lying dormant. ANZ became the first major bank to offer Apple Pay in late April, breaking ranks with rivals, […]

By Cameron Dart | Banking . FinTech . Payments
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Jun
20

Welcome to the new world of ‘regtech’

During a speech at the Tyro Fintech Hub in Sydney on Friday morning, federal Treasurer Scott Morrison pointed to the promise of “regtech” – a new word that is increasingly rolling off the tongues of the global regulatory community. Regtech (an amalgam of “regulatory technology”) is a subset of fintech (financial technology). While fintech has […]

By Cameron Dart | Banking . FinTech . Lending . Payments
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Jun
17

New platform makes switching easier for SMSFs

Term deposits are the latest sector of finance to feel the push of digitisation with the launch of Cashwerkz’ platform, which offers a quick and simple way for investors to manage term deposits. Cashwerkz chief executive, John Edginton, said that cutting the time that is spent on switching and managing deposits was the key for […]

By Cameron Dart | Banking . FinTech . Investing
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Jun
16

Fintech investment surges in Q1 but does that mean the Kodak moment nears for banks?

There was a resurgence of activity in the financial technology (fintech) universe in the first quarter of the year after signs of potential rapid deflation at the end of 2015. According to KPMG’s latest The Pulse of Fintech report, the March quarter saw funding to the fintech sector rebound with total investment in fintech companies hitting […]

By Cameron Dart | Banking . FinTech . Investing . Venture Capital
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Jun
16

Samsung Pay takes on Apple over tap and go

In an approach that distinguishes it from Apple in the contactless payment market, Samsung says banks are welcome to join its digital wallet and it doesn’t want any of their interchange fees or data. Samsung launched Samsung Pay in Australia on Wednesday. The service is live in South Korea, the United States, China and Spain. […]

By Cameron Dart | Banking . FinTech . Payments
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Jun
08

Xero joins with Wells Fargo to bolster financial web

PRESS RELEASE: The combination of limited access to capital, complex and time consuming financial processes, and the lack of confidence in business data has stifled growth and job creation in small businesses – the biggest sector of our global economy. But the financial web, which incorporates a network of organizations sharing financial data, promises to […]

By International FinTech | Banking . FinTech
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Jun
08

BOQ and River City Labs hackathon to spur innovation in Queensland

The Bank of Queensland has joined forces with technology startup hub River City Labs to host the inaugural BOQ Hackathon 2016 on June 10-12.   The hackathon is a creative, problem-solving event specifically focused on new technology-based banking solutions, and converting those ideas into concepts and prototypes within 52 hours.   The event will provide […]

By Cameron Dart | Banking . Events . FinTech
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Jun
06

Global regulators attuned to blockchain risks

The use of blockchain in financial services would need to be carefully regulated with access restricted to only approved participants and institutions may be required to use kill switches to stop computers automatically executing in times of stress. Greg Medcraft, who has just relinquished the chair of the International Organisation of Securities Commissions (IOSCO), told […]

By Cameron Dart | Banking . Bitcoin . Blockchain . FinTech
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