A technical outage of the Amazon Web Services (AWS) cloud this weekend left many customers of Australian banks unable to use cards, ATMs and Eftpos terminals. The banks affected include Westpac, ME Bank and Commonwealth Bank of Australia (CBA). Some also pointed the finger of blame at payment providers such as First Data. Just a […]
National Australia Bank (NAB) and telco firm Telstra have partnered for an SME digital marketplace called Proquo. Proquo will offer more than two million Australian small businesses an online platform to network, trade or swap services with each other. Leigh O’Neill, NAB executive general manager micro and small business, says: “Small business is the backbone […]
Nucleus Software has released its mobile loan self-sourcing solution – mApply – for the Australian market. The firm says mApply helps banks digitise their loan origination lifecycle. Customers and mortgage brokers can view pre-approved loan offers from a bank, select the best offer and submit a paperless loan application “within minutes” and “without any need […]
Australia and New Zealand-based banking group, ANZ, is trialling a shared ledger in the reconciliation of international payments with an unnamed US bank. ANZ says it is not strictly using blockchain but the shared ledger will act in a similar way. Its objective is to reconcile cross-border payments between counterparties in real time. Nigel Dobson, […]
Sydney Stock Exchange (SSX, formerly Asia Pacific Stock Exchange) is building a settlement system based on the distributed ledger technology. Specialist consultancy firm Bit Trade Labs is assisting with the project. To begin with, the new blockchain system will be used to settle trades in private companies, but SSX hopes that once the regulator grants […]
Australia-based financial services group, MyState, is gearing up to launch a new digital banking system, provided by domestic vendor Rubik Financial. The new solution is set to go live in August and promises to transform MyState’s digital channels and customer experience, according to Rubik. It will provide “superior digital experience” to customers, the vendor says, […]
London-based Calastone, the global funds transaction network, has expanded into New Zealand, and already carried out its first transaction with Australia. Calastone MD Australia, Sarah Hayward, says the firm’s extended cross border coverage enables transactions between Australian and New Zealand platforms, fund managers and respective counterparts. “Our expansion has been primarily driven by our Australian […]
US-based Square’s payment processing and hardware is now available in Australia. Operating internationally since 2012, Australia marks the fourth market for Square, joining the United States, Canada and Japan. Square says its chip card reader is the “smallest” payment card reader on the Australian market. Sellers can accept card payments via Visa, MasterCard and American […]
NAB has launched its new mobile payment service NAB Pay, designed to enable customers to use their mobile phone to make purchases, without the need for a physical card. Customers with a compatible Android mobile device and a NAB Visa Debit Card have been able to start using NAB Pay from 25 January, available as […]
ANZ has signed a five-year, A$450 million (£208 million) strategic agreement with IBM, the centrepiece of which is the establishment of a cloud-based Innovation Lab based on IBM’s Bluemix cloud development platform-as-a-service.
The hotly-contested contract to provide a real-time payments system in Australia has been won by Swift, which has announced plans to develop real-time retail domestic payment solutions and compete to deploy them internationally.
The Australian Securities and Investments Commission has launched a consultation on proposed changes to the trade reporting rules for OTC derivatives, in a move that suggests Australia is learning the lessons of OTC reforms in other countries.
The Reserve Bank of Australia and the Australian Payments Clearing Association have proposed creating a new industry body called the Australian Payments Council, to better coordinate the country’s payments system.
National Australia Bank in Hong Kong has installed Thomson Reuters’ Eikon desktop across its trading floor in a move that the bank says will increase staff productivity and drive up cross-market communication.
The Australian Securities Exchange has connected to NYSE Technologies’ secure financial transaction infrastructure network, creating a new link between the Australian market and the outside world.
Australia’s Securities and Investments Commission has set out a series of final rules on dark liquidity and high-frequency trading, which it says will promise a more stable market.
Thomson Reuters has rolled out its Elektron managed data services in China and Australia. The service will be deployed in co-location with the Australian Securities Exchange in Sydney as well as through a data centre in Shanghai.
The Australian Securities Exchange has set out plans to offer client clearing of OTC derivatives before the end of the year, in a move designed to provide new risk management controls to Australian investors.
Australian alternative trading system Chi-X Australia has appointed John Fildes as its new chief executive, taking over from Peter Fowler on 1 May.
The Australian Securities Exchange has expanded its efforts to connect to international market with the launch of the ASX Net Global network, which connects to Asia, Europe and North America.
