Banks

News about the roles of banks and banking in the Australian payments space.

No deposits, as ACCC puts banks on a short leash for ATM trial

No deposits, as ACCC puts banks on a short leash for ATM trial

The ACCC has cleared the National Australia Bank, Westpac, ANZ and Bank of Queensland to start their regional ATM experiment, but has ...
Double trouble: CBA glitch triggers multiple false debit card charges

Double trouble: CBA glitch triggers multiple false debit card charges

Just days after posting a record profit, Commonwealth Bank has suffered a card processing error which saw some of its World Debit ...
Westpac NZ open banking payments top $250m as Kiwi adoption accelerates

Westpac NZ open banking payments top $250m as Kiwi adoption accelerates

Westpac New Zealand has passed $250 million in open banking payments as customer adoption accelerates, providing an early indication that account-to-account services ...
CBA says payments resilience now a competitive advantage as geopolitical risks grow

CBA says payments resilience now a competitive advantage as geopolitical risks grow

The Commonwealth Bank says escalating geopolitical tensions, cyber threats and artificial intelligence are transforming operational resilience from a compliance obligation into a ...
Karen Last takes the wheel at ANZ acquiring as Worldline exits

Karen Last takes the wheel at ANZ acquiring as Worldline exits

ANZ has completed its acquisition of Worldline's majority stake in ANZ Worldline, installing payments executive Karen Last to lead merchant acquiring as ...
Westpac joins bank rivals to ramp up support for family violence victims

Westpac joins bank rivals to ramp up support for family violence victims

Westpac has joined the rest of the Big 4 in partnering with the One Stop One Story Hub, linking vulnerable customers directly ...
Revolut Bank Australia – APRA grants ADI licence

Revolut Bank Australia – APRA grants ADI licence

Despite a recent zombie fraud controversy, APRA has granted Revolut Payments Australia a licence to operate as an authorised-deposit taking institution (ADI) ...
Open banking to crack the code on non-bank lenders

Open banking to crack the code on non-bank lenders

Every rate, fee and eligibility rule a non-bank lender charges will soon be machine-readable via open banking. That includes buy now pay ...
Big four move to outfox Armaguard at arm’s length

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 ...
CBA unleashes AI “Companion” for testing on real customers

CBA unleashes AI “Companion” for testing on real customers

Commonwealth Bank’s AI vision just got real, with the bank unleashing “CommBank Companion” for testing on both businesses and consumers last week. ...
Credit cards and international transactions spur bank fee boom … but it could get worse come October

Credit cards and international transactions spur bank fee boom … but it could get worse come October

If warnings from Australian Banking Association (ABA) CEO Simon Birmingham are anything to go by, Australia’s growing bank fee bill is about ...
Tyro to fire up banking licence with new hire

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 ...

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