Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
Using the latest data from the DFA channel preferences survey, last published in the report “The Quiet Revolution“, today we chart the top line digital banking scorecard, from the demand side, looking at different household groups, and on the supply side what banks are doing to embrace digital. The rate of change in terms of … Continue reading “Digital Banking Gap Is Accelerating”
The UK FCA has completed an assessment of the complaints processes at 15 major retail financial firms – seven banks, two building societies, three general insurers and three life insurers – using hypothetical customer complaints. According to the results of the research, the firms chosen accounted for 79% of banking complaints, 60% of home finance … Continue reading “UK Banks To Improve Complaints Procedures”
Ratesetter, a Peer To Peer Lender, has just launched in Australia. “Redefining savings and loans in Australia. RateSetter connects lenders with creditworthy borrowers who want a simple, competitive personal loan. We are excited to be the first and only company in Australia to provide peer-to-peer lending to retail savers and investors. RateSetter is not a … Continue reading “Ratesetter P2P Launches In Australia”
We have updated our bank fee analysis, to take account of the 2013 data from the RBA. They collect fees data from 17 banks operating in Australia, covering over 90 per cent of total banking sector assets. Each bank provides data on income received over the financial year that is used as the basis for … Continue reading “Banking Fees Cost $11.6 bn”
Following its earlier draft, APRA today released a final prudential practice guide for authorised deposit-taking institutions (ADIs) on sound risk management practices for residential mortgage lending. Prudential Practice Guide APG 223 Residential mortgage lending (APG 223) provides guidance to ADIs on addressing housing credit risk within their risk management framework, applying sound loan origination criteria … Continue reading “APRA Releases Final Mortgage Lending Guidance”
Just released. Sufficient signs of recovery mean the FED will end QE this month. Interest rates will remain low for now. One of the biggest economic experiments in history moves to a new phase. Information received since the Federal Open Market Committee met in September suggests that economic activity is expanding at a moderate pace. … Continue reading “FED Ends Bond By-Back Programme”
The RBA minutes of the 7th October meeting are out. The themes are familiar, and they continue to signal an ongoing period of low interest rates, and the importance of lending standards. Growth in the global economy was continuing at a moderate pace. Commodity prices, in particular iron ore prices, had declined over the past … Continue reading “RBA Still On The Low Rate Trip”
Speaking at the Kenilworth Chamber of Trade business breakfast event Andrew Haldane, the Chief Economist of the Bank of England, discussed developments in the labour market, and the implications for monetary policy in the United Kingdom. His perspective is important and relevant in the Australian context. The main messages of Andrew’s speech are: In June, … Continue reading “The UK’s “Twin Peaks””
The Treasury just released a consultation relating to Banking Amendment (Credit Card) Regulation 2014. Opening up access to non-ADIs is likely to increase competition and innovation in card issuing and acquiring, resulting in downward pressure on fees and charges, and better service to merchants and end users (which include consumers, business and government). Non-ADIs would … Continue reading “Payments Competition To Increase”
Today the ABS confirmed what we already knew, there was something weird about the employment data. When the last set came out, showing major and surprising movements, we highlighted the figures were probably not reliable. See the chart below. Now the ABS has said The ABS has concluded that the seasonal pattern previously evident for … Continue reading “Seasonally Adjusted Employment Data Not Reliable – ABS”