Banking Technology July/August 2020 issue out now
Unlocking the benefits of open banking.
Australia
Regional Australia Bank approves first Aussie open banking loan
The process took six minutes end-to-end, claims bank.
Australian Securities Exchange delays blockchain go-live to 2022
This is the second delay for the infrastructure project.
UK opens virtual fintech trade mission to APAC
The fintech deal follows FTA talks between the UK, Australia and New Zealand.
APRA hits CBA and Suncorp with pensions conditions
Aussie regulator is unhappy with the pair’s treatment of customers.
Australia’s big four welcomes start of open banking
ANZ, NAB, Westpac and Commonwealth Bank have all gone live with APIs.
PictureWealth lands AUD 12m and seals acquisition
The company has acquired NEO Financial Solutions (NFS) for an undisclosed sum.
Reserve Bank of Australia mulls payment cost change for merchants
Australian central bank examining the market in the wake of COVID-19
iSignthis drops $1m on NSX shares to further rival ASX
The company’s subsidiary Probanx Solutions has bought 16.5 million NSX shares.
Westpac discloses AML breaches and due diligence failures
Australian bank has set aside AUD 900 million for an expected fine.
Aussie fintech Verteva lands $21.4m to digitise home lending market
The start-up is headed up by two former Westpac execs.
Aussie neobank Xinja loses 2.25% interest rate
The interest rate caused it to hit AUD 100 million in deposits after just 19 days.
ANZ promotes Emma Gray to new group executive data role
Gray is rewarded for her work as chief digital officer.
Tencent buys 5% stake in Aussie fintech Afterpay
It puts Afterpay at a market capitalisation of more than AUD 8 billion ($5.1 billion).
Iress integrates with Knowledge Bank’s mortgage criteria search engine
Brokers will be able to access lender criteria all in one place.
Webinar: Swift gpi is a chance for payments modernisation
Opportunities beyond meeting the minimum exist for banks embracing gpi.
Looking beyond the coronavirus trading boom
Some trading apps see their future in the saving market.
2020 Review: Top 10 funding rounds this quarter
A look back at some of the biggest investments this past quarter.
Top 10 coronavirus initiatives by governments and regulators
A brief overview of how governments and financial regulators have reacted to coronavirus.
HSBC reports money laundering breaches in Australia subsidiary
The breaches involved small amounts of cross-border foreign currency transactions.
Judo Bank lands $307m from government to support SMEs
“This is a really substantial additional signal of support by the government,” says co-CEO.
86 400 raises AUD 34 million in Morgan Stanley-led Series A
This brings the total capital raised by 86 400 up to AUD 90 million.
Westpac’s acting CEO gains full authority as bank gears up COVID-19 response
Peter King will be Westpac’s CEO for at least the next two years.
Australian telco ZipTel buys up challenger bank Douugh
Douugh uses AI to help customers get better insights on their money.
Aussie challenger Xinja lands $255m from Emirates’ World Investments
Xinja will receive the bulk of the investment over 24 months.
Commonwealth Bank of Australia admits to consumer protection violations
The Australian bank is set to be fined around AUD 5 million.
Greensill buys Aussie payday advance app Earnd
The acquisition marks Greensill’s move into payday finance.
Aussie neobank Hay chooses Mambu’s cloud banking platform
Mambu landed two other Asia-Pacific deals this month.
Mambu to power Australian credit firm Nimble
Nimble is switching up on its tech to power digital bank aims.
Virgin Money Australia picks Temenos Transact as new core system
Parent firm Bank of Queensland kicks of digital transformation plan.
Australian neobank Xinja launches $33m Series D with customer buy in opportunity
The challenger is offering a minimum investment of AUD 20,400 ($14,000).
Revolut bags $500m from TCV to drive daily account usage
The challenger wants to “accelerate daily usage of accounts”.
Australia’s regulator flags new internal bank stress-testing framework
APRA will consult the industry on the development of the framework in H2 2020.
iSignthis to form blockchain venture with NSX to compete with ASX
NSX suspended iSignthis from trading on its platform five months ago.
Standard Chartered commits $75bn to sustainable development
Infrastructure projects to get $40bn, whilst renewable energy and clean tech to get $35bn.
Aussie challenger Hay launched by UK’s Shawbrook Bank ex-employees
The challenger is headquartered in New South Wales with offices in London and Belfast.
Report: The digital drive to replace the passport in financial services
FinTech Futures publishes its latest industry report, on digital identity and fraud.
Standard Chartered sets up Singapore-based venture with Assembly Payments
The new payments venture is designed to help ecommerce merchants.
Funda Finance Partners in lendtech revamp with nCino
US-based nCino has gained further presence in Australia via a new deal with Funda Finance Partners, an SME lender. New South Wales-based Funda will implement the vendor’s flagship cloud-based solution, nCino Bank Operating System, “to streamline its lending processes and enhance its customer experience”, nCino says. “Funda chose nCino after searching for a technology solution […]
US neobank North Loop partners with Aussie edtech Cohort Go
The neobank can extend its list of international payee countries to one 33 times the size.
