Branchless digital bank Volt Bank says it has started “onboarding” a selection of early-adopter customers from its 40,000 waitlist, while announcing a ‘no catches’ ongoing base interest rate of 2.15 per cent on savings, ahead of a public launch planned for early 2020.
Chinese-based global payment terminals giant PAX Technology is launching its Android products into the Australian market next year.
Changes to bank lending rules by “commercially inept” government regulators is killing Australia’s engine room - the small business sector - according to the chief of recruitment firm EL Consult.
Global payment services provider SWIFT is claiming payments will be delivered in seconds by integrating gpi, its cross-border payments service, with real-time service levels into domestic instant payments systems around the world.
The global transaction volume of non-cash payments is growing rapidly, including in Australia, with non-cash transactions booming and competition flourishing, despite many banks remaining reluctant to embrace open banking via data sharing, ecosystem partnerships and open platforms, according to a new report.
Global payment services provider SWIFT has published a new API standard for the pre-authorisation of funds which it says paves the way for further innovation in financial services enabled by Open Banking.
An international delegation of leaders from Singapore and ASEAN banks and the Association of Banks of Singapore are set to meet with their New Zealand counterparts, as well as local FinTech leaders, for a one-day forum this month designed to develop and drive collaboration and digital innovation.
Bitcoin’s new normal bottom is US$10,000, according to the chief of one of the world’s largest independent financial advisory organisations, deVere Group.
The Australian and New Zealand arm of global credit bureau services provider Experian has acquired Australian fintech startup Look Who’s Charging, in its sixth major APAC investment since 2017.
Australian-based global payments provider Verrency is partnering with virtual currency payment provider Coinify to enable banks to securely offer their customers ability to use virtual currency for payments at any merchant around the world.
Global payment services provider SWIFT has completed a trial to integrate its cross-border instant payments service gpi Instant into Singapore’s domestic instant payment service, Fast And Secure Transfers (FAST) – with the fastest payment in the trial from Australia into Singapore processed via FAST in only 13 seconds.
Banks and other businesses regulated by the Australian Prudential Regulation Authority will have to abide by a new set of rules governing information security, including cyber crime, from 1 July.
Australians are losing more money to NBN scams, with an average of more than $110,000 being lost each month between January and May this year, compared with about $38,500 in monthly average losses throughout 2018, an increase of nearly 300%.
The banking industry is increasingly becoming a favourite among cyber criminals, according to security vendor MailGuard, which has detected a new phishing email scam purporting to be from Westpac.
Australian-listed fintech company Identitii has renewed an agreement with global tier one bank, HSBC Global Services (UK), to undertake phase two of a project to support HSBC’s plans to roll out Identitii’s intelligent information solution into multiple geographies.
A majority of Australians now use digital payments, according to a new report revealing that awareness of digital payments is now an almost universal 93.9%, with 72.4% using at least one digital payment method over an average 12-month period.
Over the last two years, at least eight Eastern European banks have been compromised by attackers who quietly entered their premises and attached hardware devices to the local network, a somewhat novel method of attack, Kaspersky Lab says.
One of Australia’s big four banks, the National Australia Bank, is backing a US$100 million capital raising by US-based ecommerce platform, Poynt.
The Commonwealth Bank's five-year agreement with Australia Post, which will see the bank invest in banking services provided by post offices around Australia, including in regional areas, has led to a call for the other big banks to do their own deals to provide greater banking services in the regions.
Non-bank contactless/cardless mobile payment systems are now being used by more Australians than bank-owned solutions, with fintech market entrants like Apple Pay, Android Pay and Google Wallet taking market share from incumbents, according to a newly released report.
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