PYMNTS

AUGUST 8, 2017

In regards to the Commonwealth Bank breaches — might it all have been due to coding errors? As Reuters reports , the Commonwealth Bank of Australia (CBA) has announced news that software is to blame for the more than 53,000 times it broke laws tied to anti-money laundering.

Fraud 108

Fraud Software Report Data 108

TheGuardian

AUGUST 3, 2022

Increase puts the banks’ variable interest rates at highest in three years with Westpac and NAB yet to respond to official cash rate hike Follow our Australia news live blog for the latest updates Get our free news app , morning email briefing and daily news podcast The Commonwealth Bank and ANZ have matched this week’s move by the central bank and (..)

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PYMNTS

NOVEMBER 13, 2018

bank, is backing a U.S. HSBC Global Banking and Markets, Americas COO Matthew J. In other news, a consortium called VAKT Global is seeking to create a blockchain platform for the energy industry, Coindesk reported. HSBC , the U.K. startup in the blockchain field called Axoni , Cryptovest reported. The report claims that the U.S,

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PYMNTS

NOVEMBER 2, 2020

In other news, the Reserve Bank of Australia (RBA) is exploring the potential of a central bank digital currency (CBDC), in partnership with the National Australia Bank , Commonwealth Bank , Perpetual Limited and ConsenSys Software , the bank announced in a press release.

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PYMNTS

JUNE 7, 2018

The news comes as the Commonwealth Bank of Australia (CBA) had formally agreed to a record fine of A$700 million ($5.33 It was the second major case new CEO Matt Comyn settled with regulators in a month, following an admission of rate manipulation.

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PYMNTS

AUGUST 21, 2019

Legacy banks have their work cut out for them if they want to survive another century as key players in the digital banking world. This is driving legacy banks to take a closer look at their own products and strategies, with many rising to the challenge. Around the Digital Banking World.

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PYMNTS

AUGUST 15, 2018

News came this week from the world of distributed ledgers that the World Bank seeks to offer bonds underpinned by blockchain, to be offered through Australia’s Commonwealth Bank (CBA). The Commonwealth Bank has a blockchain-based system in place, already, at this writing.

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PYMNTS

OCTOBER 3, 2017

Australia’s Small Business Ombudsman Kate Carnell wants the country to establish a government-backed bank to support small businesses (SMBs), news reports said on Monday (Oct. The SMB lending and banking market, the policymaker said, lacks competition, with bank regulations forcing lenders to focus on property-secured lending.

Lending 100

Lending Regulation Survey Report 100

PYMNTS

AUGUST 29, 2018

The most recent examples are varied, with the World Bank launching the first bond on a blockchain, and the Commonwealth Bank of Australia (CBA) reporting the first bond to be created and transferred across seven investors in the blockchain. Other new launches are also occurring around the world.

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PYMNTS

AUGUST 18, 2019

Choong Yu Lum, Citi’s head of cards and loans, said the buy now, pay later sector is hot, and the bank is planning to let more merchants have access to the offerings. “We This highlights that consumers want more ways to manage their payments, and we’re proud to be the first bank in Australia to enter this sector.”.

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PYMNTS

SEPTEMBER 26, 2017

Australia has introduced tougher rules on banks that will go into effect as early as next month, including capping executives’ salaries, delaying their bonuses and driving them out of the industry if they are guilty of wrongdoing.

Regulation 100

Regulation ATM Fraud National 100

PYMNTS

SEPTEMBER 23, 2019

Blockchain is a team sport,” Kelley told the news outlet. In July, IBM partnered with ANZ, Commonwealth Bank, Scentre Group and Westpac to launch a live pilot for Lygon, a new digital platform using blockchain technology to digitize the bank guarantee process needed for retail property leases.

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PYMNTS

SEPTEMBER 23, 2019

Blockchain is a team sport,” Kelley told the news outlet. In July, IBM partnered with ANZ, Commonwealth Bank, Scentre Group and Westpac to launch a live pilot for Lygon, a new digital platform using blockchain technology to digitize the bank guarantee process needed for retail property leases.

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blockchain cryptocurrency Bitcoin Fraud 108

PYMNTS

JULY 1, 2019

In response to plans by regulators to require banks to conduct more detailed credit checks in lieu of depending upon indices, banks in Australia are pushing back. Banks in Australia depend heavily on an index that estimates an average Australian’s minimum living expenses based on levels of income.

Lending 100

Lending Regulation National Report 100

PYMNTS

JUNE 12, 2018

Days after Australian alternative lending platform Prospa delayed its Initial Public Offering (IPO) indefinitely, one of its bank partners, Westpac , announced it was ending its relationship with the FinTech. The bank did not reveal how many business borrowers it referred to Prospa under their agreement. ”

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Lending Fintech Security Regulation 100

PYMNTS

AUGUST 29, 2018

Banks seem smitten by blockchain. Traditional banks, especially, and central banks, too. And against that broad backdrop, sanguine as it is, a number of initiatives have bowed via banks. In the act, too, as the Samsung SDS unit has bowed a blockchain-based certification platform for South Korean banks.

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blockchain Samsung Lending Technology 101

PYMNTS

AUGUST 5, 2019

Australia’s four biggest banks, along with large accounting firms, have joined forces to defend the use of independent audit firms as consultants. EY has been the bank’s independent auditor for 13 years. The country’s big four banks paid their auditors more than $110 million last year. ANZ Bank , which paid KPMG $22.4

Policies 108

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PYMNTS

OCTOBER 1, 2020

The flexibility, speed and convenience that characterizes consumer payments is steadily making inroads into the business world, however, thanks to the rise of the Banking-as-a-Service (BaaS) model. The Commonwealth Bank of Australia has launched a service that seeks to bring these unique types of disbursements into the digital age.

Payments 169

Payments Fintech Trends United States 169

PYMNTS

FEBRUARY 12, 2018

ANZ, one of Australia’s largest banks, is set to doll out nearly $8 billion in refunds to small business customers using the FI’s commercial card products. News of the refunds comes as Australian regulators take a tougher stance on large banks, especially when it comes to small business services.

Cards 116

Cards Lending National Report 116

NCR

OCTOBER 6, 2017

Australia’s ‘big four’ banks – Commonwealth Bank, National Australia Bank, ANZ and Westpac – have provided some good news for the many consumers in the country who rely on ATMs to access cash and manage their money. Image credit: peterwilsonjones/iStock.

ATM 51

ATM Maine Cards Groups 51

PYMNTS

SEPTEMBER 22, 2020

Consumers moved to digital banking in droves during the early months of the COVID-19 pandemic — it appears they are not moving back. Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice.

Compliance 191

Compliance Digital Banking Security Online 191

PYMNTS

FEBRUARY 10, 2017

In the latest bit of Apple Pay expansion news, Macquarie Group and ING Direct have announced that they will start using Apple Pay in Australia this month. Apple Pay has had something of a bumpy lift off down under — only one major Australian bank, Australia and New Zealand Banking Group, has adopted the Apple Pay system.

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PYMNTS

AUGUST 21, 2017

The bribery scandals aren’t only happening in Nigeria, the Wall Street Journal points out in a report rounding up corruption news from around the globe. Meanwhile, the Wall Street Journal reported a Nigerian oil mogul was named as part of a bribery inquiry into the country’s ex-oil minister. Russian and the U.S.

Study 100

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PYMNTS

NOVEMBER 20, 2019

In today’s top payments news, SunTrust and BB&T have announced that they have received the regulatory green light to finish their merger to become Truist Financial Corporation. And Australian banking firm Westpac was accused of going against anti-money laundering (AML) laws 23 million times. 6 of this year.

Payments 100

Payments Retail Tools Mobile 100

PYMNTS

JUNE 9, 2017

Several other countries have been making the news rounds this week in terms of their work with blockchain technology. Four Japanese financial institutions participated in trying out a blockchain prototype developed by New York-based software platform Corda. Grant Thornton partner Luis Pastor commented on this topic.

blockchain 171

blockchain Study Technology Data 171

PYMNTS

FEBRUARY 13, 2018

Three of Australia’s four largest banks have rolled out real-time payments capabilities as the government launches a widespread inquiry into the financial services sector. 13) local time said Commonwealth Bank, Westpac and National Australia Bank (NAB) have begun to offer their customers real-time payments services.

Payments 100

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PYMNTS

APRIL 2, 2018

One catalyst: Reuters reported that China’s central bank is eyeing a “crackdown” on virtual currencies. The central bank will also bring R&D efforts to bear on developing its own currency this year, according to Fan Yifei, deputy governor of the bank, as cited by the newswire. s banks deal with small to mid-sized businesses.

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PYMNTS

AUGUST 7, 2019

The former chairman of the Australian Securities and Investments Commission has warned of Enron-style corporate collapses thanks to failings of the nation’s auditing industry, according to ABC.net news reports this week. Global Pressure. Australia’s mounting pressure on the Big Four auditors mirrors similar criticism arising in the U.K.,

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PYMNTS

JANUARY 31, 2017

percent fall in foot traffic, according to Nation’s Restaurant News (NRN). 31), the McDonald’s at 540 Commonwealth Ave., the Big Mac ATM will dispense two new sizes of burger — the Mac Jr. So, while foot traffic may be down for now, the company is banking on big tech changes to draw them back. percent in 2016 alone.

ATM 100

ATM Boston social media Retail 100

Gonzobanker

MAY 12, 2020

Banks and credit unions report the pandemic’s impact on customer behavior. There have been all sorts of discussions about the impact of COVID-19 on branches, customers and banking activity. All but one of the respondents closed lobbies to walk-in traffic and moved to appointment-only banking. We could not say it better.

Trends 147

Trends ATM Survey Tampa 147

NCR

JANUARY 6, 2017

More good news for Android users: American Express has launched its Amex Pay mobile contactless payment service in Canada. ” Will Australian banks strike a deal with Apple? Australia’s biggest banks are still involved in a dispute with Apple regarding access to the tech giant’s mobile payment system.

Payments 75

Payments Apple Mobile Cards 75

Fintech Labs Insights

OCTOBER 17, 2016

Islamic Finance House upgrades to latest version of Temenos T24 core banking system. Misys to provide cloud-ready corporate banking technology to Commonwealth Bank of Australia. This post will be updated throughout the day as news and developments emerge. The post Finovate Alumni News appeared first on Finovate.

Trends 12

Trends Regulation Innovation Fintech 12

Fintech Labs Insights

MAY 27, 2015

Commonwealth Bank of Australia begins testing Ripple as intra-bank transfer solution. Michigan-based Isabella Bank to deploy workflow suite from Jack Henry & Associates. This post will be updated throughout the day as news and developments emerge. The post Finovate Alumni News appeared first on Finovate.

Michigan 12

Michigan Analytics Apple Lending 12

PYMNTS

JULY 13, 2018

In those days, women could not control bank accounts, own land, write wills or checks, or inherit property of their own except by special dispensation from a magistrate. In the Commonwealth of Massachusetts, women weren’t even legally allowed to own high-heel shoes for fear they would ensnare unwitting men into marriage on false pretenses.

Millennials 111

Millennials Tools Connecticut Study 111

Fintech Labs Insights

AUGUST 19, 2016

” In writing about the news earlier this week, PYMNTS.com noted that the partnership with PayPal would help with Xero’s efforts to expand beyond its home market in New Zealand. In July Xero announced a partnership with Commonwealth Bank , the largest bank in Australia.

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PYMNTS

AUGUST 23, 2019

The World Bank announced it has raised $33 million from investors for its blockchain-based “Kangaroo” bond, Bond- i. It’s managed by the Commonwealth Bank of Australia ( CBA ), RBC Capital Markets ( RBC ) and TD Securities ( TD ). This isn’t World Bank’s only blockchain project.

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blockchain cryptocurrency Capital Washington 190

PYMNTS

DECEMBER 17, 2019

With a repeat investment in TradeWindow, Commonwealth Bank of Australia-owned ASB Bank participated in a NZ$2.67 TradeWindow seeks to commercially rollout its trade finance platform, which is based on the blockchain, with its new capital. million ($1.76 million) seed funding round for the blockchain company.

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