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Industry at a Glance 15-Jul-14

22 July 2014

Australian News

 

Asia makes ANZ's double-play 'unrealistic', says analyst
Source: Sydney Morning Herald
Date Published: 08/07/2014

As part of its strategy to become a 'super-regional' bank, ANZ has set itself the target of obtaining 25 per to 30 per cent of profits from outside Australia and New Zealand by 2017. At the same time, it wants to lift return on equity to 16 per cent by 2016.

Regulation should be 'balanced': RBA
Source: The Australian
Date Published: 09/07/2014

Central banks and other financial regulators should ensure the implementation of regulation covering banks' liquidity 'strikes the right balance', according to the Reserve Bank of Australia. In a speech to a Sydney conference, RBA deputy head of payments 

Westpac urged to close 200 branches
Source: The Sydney Morning Herald Business Headlines
Date Published: 10/07/2014

Westpac's "multi-brand" strategy is facing a fresh round of market criticism, with JP Morgan analysts saying the bank should consider closing up to 200 branches in a bid to cut costs.

Big banks get too much help - study
Source: The Age Business Headlines
Date Published: 11/07/2014

The big four banks receive excessive support from the federal government, stunting the development of alternatives, the Australian Centre for Financial Studies says in a new paper.

Thorburn NAB's new straight shooter
Source: The Age Business Headlines
Date Published: 11/07/2014

AS chief executive of Bank of New Zealand in 2012, Andrew Thorburn did something highly unusual for a bank boss.

NZ banking sweet spot may not last: PwC
Source: The Australian
Date Published: 12/07/2014

'New Zealand's banks remain profitable, but the industry needs to consider how long this strong performance can continue with technology, customers and regulation changing everything,' PwC New Zealand's financial services leader Bruce Baillie says.

Love affair with credit cards is waning
Source: The Age Business Headlines
Date Published: 14/07/2014

We're using the credit cards we have more, but getting better at paying them off.

Coles steps up fight with big banks
Source: The Age Business Headlines
Date Published: 15/07/2014

Coles has upped the ante in taking on Australia's big four banks, with plans to issue personal loans.


Current Issues

 

Thieves shop at same time as victim
Source: Stuff.co.nz - Auckland
Date Published: 08/07/2014

A woman whose new credit cards were stolen before they reached her in the post is wondering how thieves could make almost $6000 of purchases.

Paying bills with the blink of an eye
Source: New Zealand Herald - Technology & Science
Date Published: 08/07/2014

Technology being developed in Auckland will in future allow Kiwis to pay their bills just by looking at them.Mobile payment developers Fiserv demonstrated their software using Google Glass in Auckland today.A voice command, three

Spending on credit and debit cards slips
Source: New Zealand Herald - Business
Date Published: 09/07/2014

New Zealand core retail spending on debit and credit cards fell in June for the first time in four months as declines in purchases of durables and apparel offset gains in hospitality.The value of core retail spending, which excludes

Fantastic new goMoney features from ANZ
Source: Scoop NZ - Business
Date Published: 09/07/2014

Significant enhancements to ANZ’s goMoney mobile banking application make it even easier to use on iPads and Android tablets.

Tech-savvy Kiwis devise banking innovations
Source: Stuff.co.nz - Business
Date Published: 09/07/2014

New Zealand developers are creating some of the most ground-breaking mobile banking innovations in the world.

Swipe HQ links up with Xero
Source: New Zealand Herald - Technology & Science
Date Published: 10/07/2014

Small businesses now have access to a low-cost credit card gateway after virtual payments provider Optimizer integrated its services with accounting software juggernaut Xero.Optimizer's payment technology known as

‘Traditional’ banks may not exist by 2025
Source: Scoop NZ - Business
Date Published: 11/07/2014

A new report from PwC suggests that by as soon as 2025 to 2030, New Zealand could exist without banks of the traditional kind. The report, The Future Shape of Banking , says that as barriers to entry for non-banks to provide formerly ‘core’ banking

Keeping the money mobile
Source: The Marlborough Express - National Business
Date Published: 15/07/2014

New Zealand is one of the first target markets for United States start-up Moven, which will launch its mobile money management service here in the next six months.


Member Banks

 

Banks have bounced back strongly but profits tail off
Source: Stuff.co.nz - Business
Date Published: 09/07/2014

The seemingly endless run of record bank profits is finally starting to tail off, but ANZ is still carrying the torch.

Kiwibank credit rating outlook upgraded with sovereign
Source: ShareChat - Latest News
Date Published: 12/07/2014

Government-owned lender Kiwibank has had the outlook on its credit ratings upgraded by Fitch Ratings as a result of its upbeat assessment of the sovereign earlier this week


Governance

 

Peer-to-peer lending arrives in NZ
Source: 3 News - National News
Date Published: 11/07/2014

Peer-to-peer lending allows people to lend money to businesses and people they don't know, through an online platform.

China's CCB moves into NZ market
Source: The Marlborough Express - National Business
Date Published: 15/07/2014

Another of China's state-controlled banking giants has officially set up shop in New Zealand, gaining a banking licence from the Reserve Bank.


General

 

 Slingshot to accept Bitcoins
Source: New Zealand Herald - Technology & Science
Date Published: 10/07/2014

Technology-savvy Kiwis can now pay their Slingshot broadband bills with Bitcoins after the internet service provider said it would begin accepting the digital currency as a form of payment.Slingshot general manager Taryn Hamilton

Most kiwi teens financially literate
Source: Radio New Zealand News Headlines
Date Published: 10/07/2014

New Zealand has a received a high score on financial literacy. An OECD report scored teenagers well above the average, albeit with a large disparity between highest and lowest.

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