Cash tax imminent for Aussie regions as Armaguard confirms new pricing is close
Armaguard has confirmed the long-delayed Deloitte pricing model is close to final, but industry insiders warn it will feature a tiered model that gets more expensive the further you get from the capital city CBDs.
Cash
+1
Home Affairs wants telcos and cloud giants to stop cyber threats upstream
The new Horizon 2 plan leans on the companies sitting above your screen, the telcos and cloud operators, to kill attacks at scale and speed before they result in system attacks, data breaches, fraud and scams in Australia.
Featured
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Tyro cuts jobs, chases big customers as Lee shifts gear for "growth phase"
After revealing plans to finally put its under-utilised banking licence to work, Tyro, CEO, Nigel Lee, is now taking an axe to headcount, reprioritising resources and chasing bigger customers in an effort to bolster the company's lagging performance.
HR
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Big four move to outfox Armaguard at arm's length
ANZ, CBA, NAB and Westpac have asked the ACCC for authorisation to run cash distribution through a jointly owned company that replaces Westpac as the Reserve Bank's licence holder, spreads the banknote liability 25% each, and keeps Armaguard at arm's length.
Cash
+1
Tyro to fire up banking licence with new hire
Tyro has held a full banking licence since 2015, the first Australian tech company to get one. For most of the years since, it's barely used it. A new job ad, posted by a new CEO with a battered share price, is the clearest signal yet that the quietest asset on Tyro's balance sheet is about to be asked to earn its keep.
Fintech
+1
Fintechs scraping bank screens are running out of road: SISS
Australia's screen scraping era is winding down. Banks are layering on multifactor authentication, the Consumer Data Right (CDR) is finally usable at scale, and consumers are twitchy about handing over their internet banking passwords.
Fintech
+1
From Block HQ, ASIC challenges payments fintechs to step up innovation and lending competition
ASIC is preparing a pathway for payments fintechs and platforms like Stripe, Block, PayPal and Tyro to ramp up competition with banks in the increasingly hot business lending market and Buy Now Pay Later.
Fintech
+1
Bonza and Revolut show how PayTo can go wrong ... but who pays the bill?
Who pays for PayTo fraud and chargebacks is an issue that needs to be ironed out quickly as transactions grow in the market. Monoova confirms what consumers don’t want to hear - “it’s complex”.
Fintech
+1
Can open banking help tackle Australia’s $82 billion illicit finance problem?
Plagued with delays and scope changes, the CDR rails were built to ease consumer switching — but industry experts said open banking could also help alert us to criminal activities across banks, telcos and platforms, including the growing mortgage fraud problem.
Banks
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Paperwork: Why Xero won't join Australia's open banking yet
Xero is still sitting outside Australia's Consumer Data Right regime, blocked by a bank-administered paper form for so-called "nominated representatives" that 6 in 10 small business customers never manage to sign.
Fintech
+1
Regional Australia doesn't need smarter ATMs, it needs bank branches
An ACCC filing suggests the Australian Banking Association wants multi-bank deposit ATMs to fill the gap left by 1,564 branch closures since 2020. But regional banks and their communities said a machine in a wall is no substitute for a person behind a counter.
Cash
+1