Banking

One year on since the Australian Military Bank overhauled its digital systems, mobile transactions have risen 250 per cent. Australian Military Bank (AMB) is a member-based financial institution serving Australian Defence personnel and their families since 1959. In order to best serve its members — who are predominantly young and

Australia’s banking leaders will likely make the same mistakes as their UK peers despite their studied self-assurance. That’s our key take away from listening to Steve Weston, CEO of Volt, the first company to be issued with a retail banking license since the early 2000s. Volt is part of the

A fundamental change in banking has occurred in a relatively short period of time: power has shifted from large financial institutions to consumers. In response, banks need to rethink how they serve their customers. That’s the view of Marnie Baker, managing director, Bendigo and Adelaide Bank.    Sign up for

steve weston

Australia’s newest bank, Volt Bank, and wealth management platform, Spitfire, have formed a technology alliance that the two companies say will set a new standard for banking and wealth management integration. Under the agreement, the Spitfire platform will manage Volt’s soon-to-be-launched deposit products, further cementing its position as a ‘one

Xinja is the latest Australian neobank to obtain its restricted banking licence from the Australian Prudential Regulation Authority (APRA). APRA today announced it has granted Xinja a restricted authorised deposit-taking institution licence (RADI). Introduced in May this year, the new category of licence means Xinja can call itself a bank

Australian customers are using bank branches less according to new figures from Roy Morgan that show the average number of visitors dropping almost 30 per cent from 2014 to 2018. In four years the average amount of people visiting a bank branch has dropped from 4.73 million people in 2014

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Chief financial officers at banking and insurance companies are playing an increasing role in digital transformation through leveraging new data and analytic technologies and by assuming greater influence in decisions about technology investments, according to new research from Accenture. The research published in two reports – one for the banking

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Banks may be able to leverage IoT to identify new services and revenue streams as traditional business models come under threat. However, the financial services industry (FSI) hasn’t recognising the significance of IoT, which is reflected in the amount it is investing in the emerging technology, according to Gartner. Speaking

Shayne Elliott

Incumbent banks will need to embrace new business models to ensure their long term survival, argues Shayne Elliott, CEO of ANZ Bank. Speaking at the Sibos conference in Sydney yesterday, Elliot said 30 years of uninterrupted growth meant Australia was “a great place to be a bank”, but had bred

National Australia Bank and Microsoft have collaborated to design a proof of concept ATM using cloud and artificial intelligence technology where customers can withdraw money through facial recognition and a pin, removing the need for a card. NAB said the cloud-based application, developed using Azure Cognitive Services, has been designed