Australia
Commonwealth Bank of Australia exploring GenAI use to test products
They are exploring the creation of GenAI chatbots that emulate human behaviors.
Commonwealth Bank of Australia exploring GenAI use to test products
They are exploring the creation of GenAI chatbots that emulate human behaviors.
APRA notes declining deposit-taking branches, waits for senate inquiry to closures
Branch numbers have been declining by 37% since 2017.
ANZ pays A$15m fine for excessive credit card advance fees
ANZ reportedly breached the ASIC Act and the National Consumer Credit Protection Act.
Australia looking to tap potential of AT1 bonds
This exploration will alleviate any potential risks that may dawn the banking sector.
Australia’s Zip teams up with Primer to accelerate US expansion
Primer is expected to help drive distribution of Zip’s BNPL services in the market.
ASIC to take PayPal to court for unreasonable term in SME contracts: Report
The regulator sees it unfair for PayPal to put a penalty over its own overcharging errors.
Consolidation in the cards for Australia’s mutual lenders
Mutuals should scale back branch operations and invest in tech.
Chart of the Week: 1 in 3 online transaction in Australia use alt payments
The e-commerce market will be worth $51b in 2023, according to GlobalData.
Australia unveils new standards for banks, insurers’ operational risk management
The new standard will take effect on 1 July 2025.
Australia's Zip cuts 20% of workforce: report
The CEO did not confirm whether the company is downsizing its workforce.
Grow Finance, Pismo issue credit card for SMEs in Australia
This collaboration aims to provide business owners with improved cash flow management and capital.
13.36 million credit cards in circulation in Australia: study
Credit cards contributed about AU$18.6b in national debt due to accrued interest.
Australian banks face elevated risk of credit losses: S&P
Whilst losses are projected to remain low, a sudden price drop in the housing market spell trouble for banks.
Improved mortgages to support ANZ’s earnings over the next two years
Net interest margin improved 7bps in the six months ending 31 March 2023.
Australia’s Macquarie Bank’s earnings to rise by retail banking business: S&P
The bank’s parent company will also enjoy income growth from outside Australia.
Australia-based CoinJar lays foot on US grounds
The CEO remains confident despite regulatory risks.
Citi Securities Services has been appointed by Mason Stevens to provide custody services.
The appointment follows Mason Stevens’ expansion plans.
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