Displaying items by tag: banks

Australian banks are failing to grasp the SME Banking opportunity, despite the rising importance of business banking to their bottom line – as a renewed regulatory focus on surcharges is set to change the payments landscape across the country, according to digital business transformation company Publicis Sapient.

GUEST OPINION:  Deploying latest generation monitoring technology will make the challenge of securing branches considerably simpler.

GUEST OPINION:  As financial institutions continue their transition to multicloud, it’s becoming critical to harness AI to ensure that the infrastructure runs smoothly.

Hyper-personalisation: the AI trend accelerating customer relationships in banking

GUEST OPINION by Krishna Kumar, Business Head Australia, Newgen Software Technologies: With 98.9% of banking online or via mobile apps1, coupled with the rise in mobile wallets and digital cards, its natural AI-powered customer interactions are revolutionising the sector. And it’s happening through hyper-personalisation—an AI-driven approach that transcends generic customer segments to understand and anticipate customers' individual preferences—that will shape the industry for years to come.

The ACCC has granted interim authorisation to allow the Australian Banking Association (ABA), banks and retailers to provide financial contributions to cash-in -transit business Armaguard.

The Australian Banking Association says consumer protections have been strengthened by the updated Banking Code of Practice, providing customers with safeguards that are in addition to the law.

The ACCC has granted authorisation with conditions to the Australian Banking Association (ABA) - the customer owned banking association - banks, retailers and other industry participants to allow them to continue developing responses to support the distribution of cash across Australia.

The majority of financial institutions including banks are struggling to take advantage of new payment offerings and stronger cybersecurity because their core systems haven’t been modernised, according to a new retail banking report.

New Zealand’s competition regulator The Commerce Commission has received an application from Evergreen NZ Holdings seeking clearance or authorisation to acquire 100% of the shares in ACM New Zealand Limited from ACM Holdings (NZ) Limited.

An apparent focus by New Zealand’s four major banks on maintaining profit margins has resulted in ongoing underinvestment in their core technology platforms, according to the draft report from the from the market study just released by the country’s competition regulator the Commerce Commission.

A third of banks in key markets across the globe, including in the APAC region, are losing large numbers of their customer base to rivals due to slow digital transformation, globalbanking services company 10x Banking claims.

GUEST OPINION: Artificial intelligence has featured prominently in the news of late: the good news and the bad.

GUEST INTERVIEW: With ANZ and NAB just two of the 270+ banks worldwide running on Intellect Design Arena's platform, iTWire spoke with COO of Global Transaction Banking, Uppili Srinivasan, to learn more!

GUEST INTERVIEW: With ANZ and NAB just two of the 270+ banks worldwide running on Intellect Design Arena's platform, iTWire spoke with COO of Global Transaction Banking, Uppili Srinivasan, to learn more!

GUEST INTERVIEW: Digital transformation is often touted as new, but FICO began life in 1956 by introducing analytic solutions such as credit scoring, and pioneered the development and application of decision management, so how has FICO evolved over the decades to today? Corey Smith joins iTWireTV to explain it all.

GUEST INTERVIEW: Digital transformation is often touted as new, but FICO began life in 1956 by introducing analytic solutions such as credit scoring, and pioneered the development and application of decision management, so how has FICO evolved over the decades to today? Corey Smith joins iTWireTV to explain it all.

Major Australian bank Westpac has announced it will become one of six founding members forming a consortium of businesses promoting the adoption of artificial intelligence (AI) within financial services.

GBG’s  latest report, “The Evolution of First Party Fraud in Australia”, highlights the complexities of first party fraud amid the rising cost of living and inflation, and economic impacts of the pandemic on consumers.

Losses to imposter bond investment scams have nearly tripled in the first half of this year with consumers losing over $20 million to these sophisticated scams, according to the competition watchdog the ACCC.

The Bank of Queensland has paid a penalty of $133,200 after the competition watchdog, the ACCC, issued it with an infringement notice for allegedly breaching the Consumer Data Right (CDR) Rules by failing to provide a service enabling consumers’ data to be shared.