Tagged: westpac

Australian Businesses Faring Well Despite Changing Economic Environment – Research Report

Businesses in Australia are reportedly faring well despite changing economic conditions, says Westpac’s latest business snapshot. Australian businesses are largely managing “slowing consumer demand and are cautiously optimistic as they head into 2024.” Westpac’s latest Quarterly Business Snapshot), which “analyzes millions of daily business banking… Read More

Australia: Westpac Announces New Digital Payment Security Features to Help Combat Losses from Scams

Westpac has shared new scam prevention measures for its clients. Westpac recently announced new digital payment security features “to help combat scam losses.” In an Australian banking “first,” Westpac will “integrate its sophisticated fraud detection systems with its digital payment platforms to help customers identify… Read More

Accessibility: Australia’s Westpac Introduces Payment Cards Making Payments More Accessible for Clients

Westpac recently revealed that its new cards will be making payments more accessible for customers. Westpac has announced it is rolling out “a suite of new card designs to help make payments more accessible for blind or low vision customers.” The credit, debit and pre-paid… Read More

Australia: New Fintech App Feature to Help Westpac Clients Track Carbon Footprint

Westpac is rolling out a new feature on its banking app, which will allow customers to estimate their carbon footprint. Westpac customers will soon be able “to track their carbon footprint, with new functionality on the banking app that enables those with eligible accounts to… Read More

BNPL: Australia’s Westpac Gives Credit Card Clients More Flexibility with PartPay

Westpac will soon offer credit card customers the ability “to pay for purchases in four instalments, providing greater control and flexibility.” In the coming months, Westpac credit card customers will be able “to link their existing credit card to a new PartPay digital card, enabling… Read More

Westpac to Provide Tap-on-Phone Software to Australia’s Small Businesses

Westpac has announced that it will roll-out new technology which will “enable small businesses to accept payments from customers via their compatible Android mobile.” Westpac Tap on Phone leverages Airpay TAP technology from Australian payment technology provider Quest Payment Systems. It is being trialed with… Read More

Westpac DataX to Provide Informative Insights for Clients

Westpac has launched Westpac DataX, a data analytics offering that will “enable faster, data-backed decision making for [their] largest clients.” Using de-identified credit card data from over six million daily card transactions, Westpac DataX “enables self-serve analytics for our clients so they can embed insights… Read More

SocietyOne Introduces Transaction, Savings Accts Powered by Westpac

In its “first” major corporate milestone following its acquisition by MONEYME Ltd (ASX:MME), digital finance platform SocietyOne has launched transaction and savings accounts “powered by Westpac’s Banking-as-a-Service (BaaS).” SocietyOne is Westpac’s second partner “to launch products through its BaaS platform with two new additions to… Read More

Australia: New Technology Hub Expected to Bring 200 New Jobs to Queensland

Westpac recently announced the opening of a new technology engineering hub on the Gold Coast, which will aim to create “up to 200 additional jobs in the state over the next few years.” The opening will “enable Westpac to expand its technology, engineering, and training… Read More

Australia’s Westpac Penalized $113M After Several Major ASIC Legal Actions

The Federal Court in Australia has reportedly ordered Westpac to pay penalties in the amount of $113 million “for widespread compliance failures across multiple businesses, including Westpac’s banking, superannuation, wealth management and insurance brands.” Justice Beach recently handed down his decision “in the last of… Read More

Westpac Group Appoints Yianna Papanikolaou as New Chief Transformation Officer

Westpac Group recently announced the appointment of Yianna Papanikolaou to the newly created role of Chief Transformation Officer. Papanikolaou will be sitting on the Group’s Executive Team and report directly to company Chief Executive, Peter King. She will have responsibility “for major change and investment… Read More

Payments as a Service Provicer mx51 Appoints Former Westpac Executive as Chairman

Former senior Westpac executive Jim Tate has been appointed as the Chairman of Fintech mx51. mx51 is a payments-as-a-service provider that enables banks and non-banks to provide multi-channel payments and value-added solutions to merchants. mx51 reports that it currently powers major Australian banks and payments providers… Read More

Westpac to Enhance its Digital Offering with Acquisition of MoneyBrilliant

Westpac announced on December 7, 2021, that it has agreed to terms to acquire money management app, MoneyBrilliant from AMP Limited and management shareholders. As noted in the update from Westpac, MoneyBrilliant is a budgeting and cashflow tool that “helps users manage their money by… Read More

Digital Banking: Australia’s Westpac Brings Enhanced Mobile App to Android Clients

Westpac is bringing its enhanced mobile app to Android clients, as the COVID-19 outbreak continues to accelerate the adoption and usage of virtual banking services. The app from Westpac makes it quicker, convenient, and a lot more secure for clients to effectively manage their funds,… Read More

Australia based BNPL Fintech Afterpay to Offer a Money and Lifestyle App with Assistance from Westpac

Australia-based Buy Now, Pay Later (BNPL) Fintech Afterpay (ASX:APT) says it will be diversifying its business operations with the introduction of a “money and lifestyle” app. The Money app has been developed following Afterpay‘s partnership with Westpac. Through their collaboration, Afterpay is able to operate… Read More

UK-based BaaS Fintech 10x Future Technologies Finalizes Oversubscribed $187M Round led by BlackRock, Others

London-based 10x Future Technologies, a Cloud banking solution provider, has finalized an oversubscribed $187 million Series C round. The company states: “10x Future Technologies is … focused on transforming banking to be 10x better for customers, banks and society. The group has developed its own… Read More

Bank Closures Continue Across the Globe, as Digital or Online Banking Becomes the Norm in Post COVID World

George Holland, Mayor of Moorhead, Mississippi, recalls the feeling he experienced when  Regions Bank announced it was shutting down its physical branch in his town just a few years back. As reported by NPR, Holland noted that it was the only banking service provider in… Read More

Fintech Australia Chair Simone Joyce Says Banks are “Risk Averse,” Suggests that Better Policies Are Needed to Support Fintechs

Rebecca Schot-Guppy, CEO at FinTech Australia, says that her organization thinks that Australia is on the right path in terms of financial technology adoption and its overall approach to developing its economy. Rebecca, whose comments came during the Select Committee on Financial Technology and Regulatory… Read More

Westpac Group in Australia Reveals that Marketplace Lender SocietyOne has joined its Digital Banking Platform

The Westpac Group in Australia has revealed that SocietyOne is its second partner to join­ the institution’s new digital banking-as-a-service (BaaS) platform. SocietyOne is a key Fintech player in the nation’s digital lending sector (having originated more than $1 billion in loans). According to a… Read More

Bitcoin Exchange Operator in Australia Seeks $250K in Compensation for Systemic Discrimination Allegedly Carried out by Banks ANZ, Westpac

A digital currency trader is reportedly seeking $250,000 in compensation from Westpac and ANZ. The crypto investor claims that there’s systematic discrimination being carried out by some of Australia’s largest banks, which has allegedly cost him his once highly-profitable business. Allan Flynn has initiated proceedings… Read More