Australians got a taste of a world without digital payments on Thursday afternoon when Telstra network outage took down ATM and Eftpos machines at some of Australia’s biggest retailers. All services have now been restored and the telco has apologised for the impact and inconvenience to business and their customers.
Westpac, ANZ and CBA have begun a pilot program to test the digitisation of bank guarantees using IBM’s blockchain technology. The trial, involving shopping centre landlord Scentre Group and its tenants, uses a blockchain platform for bank guarantees instead of the traditional manual paper process. Sign up for Which-50’s Irregular
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
The best place to work in Australia is a bank, according to LinkedIn’s annual list of the top companies to work for, which has the big four atop its latest leaderboard. According to LinkedIn, Westpac is the top company to work for in Australia, followed by NAB, ANZ and CBA.
In 2030 Australian people will own less and share more, and renewable energy will be a booming industry, according to Westpac. The bank has launched a new division to fund the emerging businesses it expects will drive the future economy. Register now for Which-50’s webinar on the disruptive impact of chatbots!
The big four banks are backing a new educational initiative, the Schools Cyber Security program, designed to teach high school students about cyber security skills and encourage them to pursue a career in IT. The Australian Computer Academy (ACA) developed the $1.35 million national program which will be taught to
Entrepreneurs, start-ups and scale-up businesses are invited to enter Westpac’s 2018 Innovation Challenge for the chance to win $40,000 and professional support to grow their business. Themed RegTech, this year’s challenge asks entrants to create a technological solution that helps companies comply with regulatory obligations and deliver improved customer outcomes.
Slyp (formerly Ping Data), a Sydney-based data start-up that digitises the receipts for merchants and their customers, has raised $2 million in a seed funding round led by NAB Ventures and also included Westpac’s venture capital arm, Reinventure. Slyp’s technology captures a customer’s itemised receipt data from Point of Sale
Westpac has launched a new feature called Mobile Cheque Deposit which will allow eligible customers to scan and deposit cheques from their smartphone. Cheques are often considered a thing of the past, but Westpac research shows that almost half (41 per cent) of Australians still use cheques to make or
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.