Tagged: australia

Australia’s CBA Cautions Small Businesses Against Tax Time Scams

Commonwealth Bank is urging small businesses to be extra vigilant this tax season, as scammers use sophisticated tactics to rob hardworking Australians of their tax returns. With the end of financial year approaching, scammers and cybercriminals “generally ramp up their tax scam activity, using phishing… Read More

Fintech FloQast and PwC Australia to Enhance Financial Transformation Offerings

FloQast announced a consulting relationship with PwC Australia, a global consulting firm. The alliance combines FloQast’s advanced Finance and Accounting Operations Platform with PwC Australia’s deep industry expertise “to transform key accounting and finance operations, including the financial Close, compliance management, and internal controls.” Today’s… Read More

Australia’s ANZ to Enable Clients to Access Smart Money Management Tools

ANZ has announced ANZ Plus Add-Ons, enabling customers to customise their banking experience with a mix of smart money management tools from the bank, and integrated experiences from third-party partners. ANZ Plus Add-Ons include “the new Money Map and Money In & Out. Money Map… Read More

Fintech Banked and National Australia Bank (NAB) Partner on Payments Solution

Fintech Banked and National Australia Bank (NAB) are partnering on a payments solution. The collaboration follows NAB’s VC arm’s participation in Banked’s Series A funding round, which saw NAB contribute $15 million to the firm. The partnership will enable Australian merchants to integrate account-to-account (A2A)… Read More

Poor Investment Governance May Cost Australia’s Asset Owners Significant Sums – Report

Poor investment governance could cost asset owners, and in turn their customers, significant sums – in the case of a super fund member as much as $500,000 over their working lives, a new report by KPMG Australia and Frontier Advisors finds. A survey of institutional… Read More

Mid-Market Businesses in Australia Are Cautiously Optimistic, But Claim Growth Is Impacted by Cost of Living – Report

The majority of Australia’s mid-market businesses are still feeling cautiously optimistic, the annual KPMG Enterprise pre-Budget survey finds. But nearly a quarter say business growth is “being significantly impacted by the cost of living, while cost and margin pressures are the top concern of mid-market… Read More

Equitise Loses Crowdfunding License in New Zealand

Earlier this month, Equitise, a securities crowdfunding platform operating in New Zealand and Australia, received an “infringement notice” from the New Zealand Financial Markets Authority (FMA). According to the FMA, Equitise had failed to file its financial statements prior to the deadline, among other concerns about… Read More

Thailand and Australia Forge Partnership to Boost Fintech Industry

Thailand and Australia have entered into a new phase of financial collaboration with the signing of a memorandum of understanding (MoU) on financial technology (fintech) cooperation. The agreement, aimed at bolstering the local fintech industries of both nations, was formalized this week between the Thai… Read More

Millennials Are Reportedly the Most Active Real Estate Investors in Australia

When it comes to buying investment properties millennials are not only the most active generation, but many are happy to go it alone, new data from CommBank has found. According to the data, 46 per cent of the banking institution’s new property investors in 2023… Read More

Small Businesses in Australia Reportedly Keeping Up with Big Business In Terms of Labor Productivity

Xero, the global small business platform, today released a Xero Small Business Insights (XSBI) special report which shows Australian small business labor productivity is keeping pace with national productivity growth, but remains below pre-pandemic levels. The report, Small business productivity: Trends, implications and strategies, is… Read More

Chinese Investments in Australia Decline 36% to AUD 1.34 Billion – Research Report

Chinese investment in Australia fell 36 percent to AU$1.34 billion in 2023, compared to AU$2.1 billion in 2022, with healthcare overtaking mining as the key industry. It was the second lowest year in investment value “since 2006, and the joint-lowest year in number of investment… Read More

Tokeny Partners to Support Tokenization, Digital Assets in Australia

Luxembourg-based Tokeny is expanding into Australia through a partnership with the SILC Group to tokenize real-world assets (RWA). The SLC Group is an alternative asset solutions provider that reports over $2 billion in assets under supervision. Tokeny will provide the tech stack to “upgrade alternative… Read More

Australia: ANZ to Implement Security Measures to Protect Clients from Scams

ANZ will invest in several new security measures and capabilities in 2024 to help protect our customers and the community from the ongoing threat of scams and financial crime. Last year, ANZ’s people and systems reportedly “prevented more than $106 million in losses to cyber… Read More

Australia: Westpac PayTo Digital Payments Option Offered to Institutional and Commercial Payees

Westpac has turned on its proprietary PayTo digital payments capability for institutional and commercial payees, with other business customers to follow by the end of the year. Jeff Byrne, Managing Director, Global Transaction Services, Westpac said that “with the sun setting on traditional direct debits… Read More

Fintech Stables Introduces Remittances Between Australia and The Philippines

Australian digital wallet provider and payment startup Stables has announced the launch of international remittances for its thousands of users (focusing on the AU-PH Corridor). From today, Stables users in over 130 countries can send Australian Dollars or Philippine Pesos to over 140 million people… Read More

Australia: Payments Association Welcomes Passage of Digital ID Bills

Australian Payments Plus (AP+) has issued a statement on the passage of the Digital ID Bill in the Senate. The bill passed the Senate without debate. The legislation aims to establish an accreditation path for entities providing digital ID services while expanding the Australian Government… Read More

Australia based Payments Fintech Zeller Partners with Oracle to Streamline Payment Options

Australia’s payments provider, Zeller, and the global enabler of restaurant POS systems, Oracle, have come together to provide restaurateurs with a complete solution for managing orders and securely taking payments at speed. For food and beverage venues across the country, this new integration that connects… Read More

Swift to Provide Confirmation of Payee Service for Australian Payments Plus

Swift announced it has been selected to build a service that will reduce the risk of misdirected payments and increase defenses against payment fraud, providing Australians with more confidence when sending money. Swift, which built and runs the NPP, was chosen by Australian Payments Plus… Read More

CommBank Allows Smartgroup Customers to Access Financial Tools

Through a new agreement between the CommBank or Commonwealth Bank and Smartgroup, customers will be able “to gain access to CommBank’s products and special promotional offers, beginning with ten free trades on the CommSec platform.” Commonwealth Bank’s Group Executive for Business Banking, Mike Vacy-Lyle said:… Read More

Fintech GoCardless to Acquire Nuapay from EML Payments

GoCardless, the bank payment company, has signed an agreement to acquire Sentenial Ltd, operating globally under the Nuapay brand, from EML Payments Limited (ASX: EML) subject to regulatory approvals. The acquisition will significantly scale GoCardless’ indirect channel proposition, consolidating its position as “a key payment… Read More