Digital Finance Analytics (DFA) Blog
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As part of its recently released updated strategy, NAB will immediately hire 600 technology specialists in the areas of software engineering, data, architecture and security. The national and global recruitment drive is part of NAB’s plan to reshape the workforce and create up to 2,000 new jobs by 2020 to meet the changing needs of … Continue reading “600 Technology Specialists to Join NAB”
The NAB results yesterday included one of the clearest signals yet of the digital disruption which is hitting the finance sector (and other customer facing businesses too). Worth also reflecting on the fact that since the turn of the century NAB’s net interest margins have fallen 100 basis points, to below 2% today. They have … Continue reading “The Robots Are Coming to a Bank Near You”
I had the chance to catch up with Martin McCann, the CEO and Co-Founder of Trade Ledger, the newly launched platform-as-a-service for business lenders and claimed as the world’s first open digital banking platform exclusively for business lending. The platform, they say, will help banks assess business lending risk in real time and will so … Continue reading “On The Digital Innovation Front Line”
From Australian Fintech. SocietyOne, Australia’s consumer marketplace lender, has set new records for lending with growth in 2017 already surpassing the level of volumes for the whole of 2016. Total lending since the company started operating five years ago has now topped $350 million as the current loan book also reached $200 million for the … Continue reading “SocietyOne sets new record with triple milestones in 2017”
From Fintech Business. Myer customers will be able to use Android Pay and Apple Pay to make purchases in store via the launch of a new credit card, the Myer Credit Card, issued by Macquarie Bank. Using Visa payment technology, Myer shoppers will be able to pay for purchases from their digital wallet on their … Continue reading “Myer launches Android and Apple Pay”
Data from the Digital Finance Analytics Small and Medium Business Surveys highlights that firms who apply for unsecured credit are getting funds more quickly on average now, compared with 2015. You can request a copy of our latest SME report. However, there are considerable differences between the average timeframes experienced by SME’s when they deal … Continue reading “SME’s Are Getting Funds Quicker, Thanks To Alt. Finance”
Interesting speech from Frank Elderson, Executive Director of the Netherlands Bank, highlighting some of the risks attached to the digital revolution and the impact on potentially excluded households. For example, losing access to bank branches, or ATMs, the impact of big data and the complexity of banking products. This perspective is important. We still face … Continue reading “An Interesting Perspective On Financial Inclusion”
From Pymnts.com Australia is now the Asia Pacific region’s second-largest alternative finance market, largely due to a favorable regulatory climate, according to new KPMG analysis. The Australian market is quickly becoming a hotbed of alternative lending, and new analysis from KPMG suggests it has risen up in the ranks. According to a new report from … Continue reading “Australia Rises In Global Alt-Lending Ranks”
From The Conversation. Macquarie Bank has started a trial, giving customers access to the data the bank has collected on them. These might include the number and types of account held, average balances, regular payments and income and credit score information. This information helps to determine both the need for products and the risk of … Continue reading “What we can do once the banks give us back our data”
CUA, the largest Credit Union, reported an annual Group Net Profit after Tax (NPAT) of $55.87 million for the 12 months to 30 June 2017, an 8.1 per cent increase on last year’s result. But within that, their banking business achieved a full-year NPAT of $49.65 million, down 6.4 per cent from the FY16 result … Continue reading “CUA Profit Up, But Mortgage Lending Down”