This Month
Westpac’s Unite technology project costs rise as it migrates customers
The bank said the expected cost of creating a single mortgage system would increase to $285 million, up from $265 million projected last November.
RBA calls for co-ordinated effort to unlock digital asset markets
A series of pilot transactions using digital assets drew a strong industry response, but the RBA says banks and regulators need to accelerate their efforts.
Bank investors ‘should run for exit’ if Middle East conflict worsens
Bank sector analysts expect ANZ, Westpac, and National Australia Bank to top up their bad debt provisions when they announce interim results in May
Hunting for hybrids in the shadow of the giants
In an increasingly uncertain market, Latitude Group has found a window, and the nerve to open it.
Ex-Macquarie banker drives mortgage broker roll-up Recludo towards IPO
Tim Brown says attacking the mortgage market niches with a private-equity lens can help increase broker loan books, keeping power from major banks.
This company’s board is one of the most dysfunctional on the ASX
Humm was found wanting by the nation’s takeover dispute panel, but the saga is far from over after founder Andrew Abercrombie asked for a review.
AUSTRAC calls in 10 banks for key meeting on spike in mortgage fraud
The agency requested data from the lenders as it works to assess the extent of the fraud and whether properties funded by criminal proceeds should be seized.
Macquarie’s ‘no-hoops’ bank hustle can’t stay under the radar
The bank has very deliberately pulled back the curtain on its retail operation just as it gets too big to ignore.
RBA interchange fee decision will increase banking costs: CBA exec
Banks are watching the RBA’s upcoming decision on interchange fees closely; the Finance Sector Union says AI agents have workers concerned about their futures. Follow live updates.
The big four are minting it right now, but 2 big threats are building
The surprise burst in credit growth means it’s a great time to be a big bank. Behind the scenes, however, they see big shifts that could be cause for worry.
Macquarie’s disruption to banking ranks up there with AI
The bank’s role as the disruptor in chief to traditional banking warrants equal prominence as questions about the impact of artificial intelligence.
CBA chairman warns AI risks ‘hollowing out’ Australia’s economy
In a rare intervention, the chairman of the country’s biggest bank urged the federal government to regulate and tax the vast artificial intelligence platforms.
NAB chairman joins calls for action on red tape
Phil Chronican joins a growing band of business leaders warning that too much regulation is strangling innovation.
Macquarie’s bank warning: 10pc of mortgage payments at risk from AI
Australia’s banks remain priced for perfection. But Macquarie argues that a shock to employment from AI could create ripple effects that test the system’s stability.
Macquarie turns the screws on CBA in $85b rental payments market
As the number of renters increases, the pool of payments they make is growing. The banks want to own that while a group of outsiders is eyeing the prize, too.
Macquarie tells CBA’s Comyn to ‘bring it on’ amid intense mortgage war
The financial services giant’s chief executive, Shemara Wikramanayake, issued a tacit rebuke of concerns that it was getting an easier run from regulators.
![“Digital finance innovation offers Australia renewed [productivity] tailwinds,” says Ken Henry.](https://static.ffx.io/images/$zoom_0.2903%2C$multiply_3%2C$ratio_1.777778%2C$width_1059%2C$x_0%2C$y_213/t_crop_custom/c_scale%2Cw_140%2Cq_88%2Cf_auto/0f119c737ce6fce7ec32b404acdfb2f1662a3a6b)
Financial market technology upgrade could unlock $24b a year
Modernising the nation’s market infrastructure could deliver significant gains for banks and investors while arresting a slide in global competitiveness.
Heat on APRA from CBA attack on MacBank
If APRA is persuaded there is no level playing field in retail banking in Australia, it would have implications for competition and the future of regional banks.
February
Mortgage fraud issues put the blowtorch on CBA
The bank’s application processes and the way documents are verified leave it vulnerable. The sector must lift its game to protect the integrity of the market.
‘Vanderbilts are back’: Husic raps Apple over payment market power
The tech giant faced a parliamentary committee on Tuesday as MPs compared its control over iPhone payments to 19th-century railroad monopolies.
