Artificial intelligence (AI) is removing industrial and geographical boundaries for financial services organisations, according to AI expert, Dr Ayesha Khanna. Singapore saw the change coming and early investments in the technology and people to support it mean the country will likely be the global leader when AI is “everywhere” in
Commonwealth Bank executive Angela Clark has been appointed CEO of Beem It, a digital wallet jointly owned by NAB, Westpac and CBA. Clark was part of an executive team made up of staff CBA, Westpac and NAB that spearheaded the founding of the payments business which was establish in February.
Australian shoppers prefer to use non-bank cardless payments like Apple Pay and Google Wallet over the banks own offerings, according to a report from Roy Morgan. The research firm believes incumbents will need to collaborate more with fintechs and third parties to “keep up” in the evolving digital payments market.
As Retail Banks struggle to satisfy customers, tech companies are becoming a viable alternative: Capgemini
Retail banks are feeling the pressure, according to Capgemini’s latest World Retail Banking Report. Customers are demanding smooth, personalised service – which banks struggle to deliver – while tech companies become an increasingly popular alternative, according to the report. Customer expectations was the clear disruptor of retail banking in 2018,
National Australia Bank is investing an additional $50 million in its corporate venture capital fund NAB Ventures, taking the total fund to $100 million until 2020. Todd Forest managing director at NAB Ventures said the company is doubling down on backing innovative third-party companies that can bring desired assets to
The introduction of Australia’s Open Banking regulations next year could pose a threat to traditional banks by allowing consumers to access their data and move it to new competitors more easily. But trust remains a key issue for insurgents and incumbents alike. According to a survey of more than 2,000
Blockchain and quantum computing are at the forefront of disruptive technologies which will impact the fintech industry in 2018 and 2019. That’s according to a report from Juniper Research titled, Top 10 Disruptive Technologies in Fintech: 2018, which found a wealth of positive changes stemming from emerging technologies in the
Fintech startup Trade Ledger — which describes itself as the world’s first corporate open banking lending platform — has announced the opening of its European operation, headquartered in London, along with additional hires. Lisa Callaghan will move from the role of accountant to Chief Financial Officer at Trade Ledger’s Sydney
The financial services industry, under pressure from fintechs, has turned its attention to the customer. According to research from Adobe, the industry is “catching up” on customer experience by focusing on data-driven marketing, personalisation and AI. Senior executives are looking to “master” these strategies and then leverage the vast amounts
Stone & Chalk, a fintech startup hub, today announced the seven insurtech startups to take place in its inaugural insurtech accelerator, backed by EY, Hall & Wilcox, QBE & TAL. The six-week accelerator has been designed to help startup and scaleup businesses address real business problems identified by program partners