Banking

Face to face interactions are currently limited and the battleground for new customers has switched to the digital environment. Those organizations that offer fast, seamless experiences and secure on-boarding might hope to win market share – but even if financial institutions are prepared to make the switch to digital account

Westpac branch

Apple Pay is now available for Westpac customers with an eligible Mastercard debit or credit card, or eftpos Handycard. The decision was flagged late last year and makes Westpac the last of Australia’s big four banks to offer the digital payment method. Westpac customers will be able to use Apple

The total number of digital banking users will exceed 3.6 billion by 2024, up from 2.4 billion in 2020; a 54 per cent increase, according to a new study from Juniper Research. This growth will be driven by the rise of digital-only banks and the ongoing focus on digital transformation

Investors in global financial businesses do not believe industry leaders can provide the kinds of returns being delivered by the tech sector, with very significant skepticism about current digital transformation programs. That’s our key reading of a report from global management consulting outfit Oliver Wyman, which also argues there is

Apple Pay will be available for Westpac customers by June 2020, meaning all four of Australia’s big banks will offer the digital payment method next year.  Westpac also announced Apple Pay is available from today for customers at its smaller banks – St.George, BankSA and Bank of Melbourne – provided

Depending on what type of bank a consumer uses – major, regional, mutual or neobank – they have varying levels of trust according to a new report from Deloitte.  The report, Open Banking: Switch or Stick? Insights into customer switching behaviour and trust shows the differences in trust between major

digital piggy bank

A new report, Global Bank Review: The Data Game by law firm Herbert Smith Freehills highlights the banking industry’s challenge to fully commercialise big data while complying with increasing legal, regulatory and political scrutiny. According to the report, regulators have also had to respond and adapt to the new data

Most Australians are now banking exclusively through digital channels, according to Boston Consulting Group’s annual retail banking report, which sounds a warning for banking incumbents. BCG says technology and rising consumer expectations are eroding incumbent banks’ long established advantages and younger consumers see less value in their traditional offering of

Money is pouring into Australia’s fintech sector as regulatory changes and digitally savvy consumers look set to open up the industry. A new report from Pegasystems, a global software company built on decades of success with large American banks, suggests Open Banking in particular could be a breakout moment for Australia’s growing cohort of

Digital-only banks operating in the UK are growing quickly but still struggle to show profitability, according to new research from Accenture. Based on current growth rates, digital-only banks could amass a total of 35 million customers globally within the next 12 months — up from 13 million today —  according