OPen Banking

Australia’s Open Banking regime will quickly move from a compliance issue to a new way of doing business, according to Theo Albers, managing director of Infosys Finacle Australia. But Albers, whose company overhauls banking platforms with products that together serve nearly half a billion consumers globally, warns most of Australia’s

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Across APAC consumers increasingly prefer digital channels for financial services. The trend, combined with regulatory changes that lower barriers to entry, is helping digital-only banks overcome incumbents’ traditional trust and scale advantages, according to new research from Forrester. But in Australia, the research shows the pace of switching to digital-only

The Consumer Data Right legislation was passed by the Australian parliament on Thursday, providing the legal framework for Australia’s open banking regime. The CDR is a competition and consumer reform announced by the Australian Government in May 2018. Essentially a data portability right, the CDR will allow consumers to direct

The CEO of Australian fintech Tic:Toc says his business is ready for open banking and the local industry will benefit from becoming one of the first places in the world to embrace the data sharing rules. The first phase of Australia’s open banking regime began on July 1, with three

With a whimper, Open Banking has arrived in Australia. From today, Australia’s big four banks will begin a pilot program to explore Open Banking’s performance, reliability and security. For consumers, a mature Open Banking environment will make it possible to switch home loan providers with a few swipes of an

Digital bank Up has hit 100,000 customers since launching in October last year, the neobank attributes this growth to its quick sign up process and partnership with Apple Pay. Up said this means it is one of the fastest growing digital banks in the world. Anson Parker, head of product

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Open banking has been regulated or has organically developed in a number of major economies in recent years. In the UK It was forced upon the nine biggest banks with the promise of increased transparency and competition for customers over a year ago. Today over 100 regulated entities are enrolled

In this guest post from Melody Townsend, General Manager – Product & Network Marketing at ME Bank, explores the practical steps marketers can take to build trust with customers. The concept of ‘trust’ has always been around, but in more recent times, there’s been a growing emphasis on how trustworthy

 The right balance between robust security and easy-to-use customer experiences, as more markets adopt open banking — which mandates banks to open their systems to third parties — will be critical for bank networks and their ecosystem partners. The Accenture Banking Technology Vision 2019 report has found consumer demand for customisation and

Australia’s Customer Data Right (CDR) legislation is expected to pass in the first quarter of 2019 and from July 1 the big four banks will be required to publicly share product data about credit and debit cards, deposit accounts and transaction accounts. However the banks now have until February 2020