Search Results for: fintech

Broad mandate for financial services royal commission takes the heat off banks

From The Conversation. It does seem anomalous that the major banks have now become supporters of the royal commission into financial services, given they have been the principal targets. But the alternatives are probably less palatable, particularly if the banks think that all past major issues of misconduct and immoral behaviour have already been brought … Continue reading “Broad mandate for financial services royal commission takes the heat off banks”

Royal Commission, Draft Terms Of Reference

The draft terms of reference are out for the Royal Commission into the Banking, Superannuation and Financial Services Industry. The scope has been carved out to avoid issues already being looked at elsewhere, such as the Productivity Commission looking at vertical integration, or ACCC on product pricing, and so is focussed on alleged misconduct.  The … Continue reading “Royal Commission, Draft Terms Of Reference”

UK Lifts Counter Cyclical Buffer

The Bank of England release their Financial Stability Report today, which includes the results of recent stress tests.  Though the stress tests show that UK Banks could handle the potential losses in the extreme scenarios, the FPC is raising the UK counter cyclical buffer rate from 0.5% to 1% with binding effect from 28 November … Continue reading “UK Lifts Counter Cyclical Buffer”

What Our Bank Leaders Can Learn From Amazon’s Jeff Bezos

From theBankDoctor. Amazon is well on the way to its goal of conquering the modern commercial world. The e-commerce, logistics, media and food titan is now the second biggest company in the world and Morgan Stanley predicts it will overtake Apple by the end of next year to become the globe’s first USD1 trillion company. Australian institutions, particularly … Continue reading “What Our Bank Leaders Can Learn From Amazon’s Jeff Bezos”

Mutuals Growing But Under Competitive Pressure

KPMG has released their 2017 Mutuals Industry Review. Under the hood, the sector is under pressure, despite asset growth. COBA said they welcome the backing from KPMG, which highlighted strong financial performance. We are not so sure.  Sure, assets are growing, but at what cost? This is what COBA said: KPMG Australia’s Mutuals Industry Review … Continue reading “Mutuals Growing But Under Competitive Pressure”

Should You Pay For A Paper Bill?

Interesting consultation from the Treasury of the impact of digital migration of consumer bills, and the emerging trend to charge for a paper version, which may adversely be impacting those unable or unwilling to go digital.  They suggest 1.2 million households are digitally excluded. NBN Co forecasts that 94 per cent of households will have … Continue reading “Should You Pay For A Paper Bill?”

2018 Crunch Time For Digital Transformation

In a new report, Forrester says that Digital transformation is not elective surgery. It is the critical response needed to meet rising customer expectations, deliver individualized experiences at scale, and operate at the speed of the market. This echoes our Quiet Revolution report, released just yesterday. They say the results are sobering: Over 60% of … Continue reading “2018 Crunch Time For Digital Transformation”

‘World-first’ home loan auction platform launches

From The Adviser. The “world’s first auction-style platform” for loans and deposits has launched, enabling consumers to tender their home loan needs to both brokers and lenders. Australian fintech Lodex has launched a new online platform that enables borrowers to set up an auction for their home loans, car loans, personal loans (and eventually deposit/savings … Continue reading “‘World-first’ home loan auction platform launches”

Banks Must Go Digital To Protect Margins

Looking across the world of banking, there is one striking trend according to the latest Mckinsey Global Banking Report. Profit remains elusive as margins are crushed. Return on equity is stuck in a range of 8 to 10 per cent (though we note Australian Banks’ are higher!, but are still falling). Recovery from the 2007 … Continue reading “Banks Must Go Digital To Protect Margins”

Machine Learning, Analytics And Central Banking

The latest Bank Underground blog post “New Machines for The Old Lady”,  explores the power of machine learning and advanced analytics. Rapid advances in analytical modelling and information processing capabilities, particularly in machine learning (ML) and artificial intelligence (AI), combined with ever more granular data are currently transforming many aspects of everyday life and work. … Continue reading “Machine Learning, Analytics And Central Banking”