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Industry at a Glance 17-Mar-15

19 March 2015

Australian News

CommBank app hits $100bn mark
Source: The Australian
Date Published: 11/03/2015

CBA digital channels executive general manager Lisa Frazier said mobile banking app users had almost doubled in the past 12 months -- 3.2 million users of the app compared with 1.76 million. “In the last 12 months we've had $100bn transactions securely

CBA offers contactless payments on all Android mobiles
Source: The Sydney Morning Herald News Headlines
Date Published: 11/03/2015

Commonwealth Bank has become the first big bank to offer contactless payments via any Android mobile phone, but it has opted for security that makes it slower than using a card.

ASIC wants new power to curtail bad banks
Source: The Sydney Morning Herald News Headlines
Date Published: 12/03/2015

ASIC has urged the federal government to grant it new powers to enter banks and potentially modify financial products as recommended by the financial system inquiry.

Banking disrupter Stephen Porges to lead P2P lender DirectMoney
Source: The Sydney Morning Herald News Headlines
Date Published: 17/03/2015

Having spent five years running Aussie Home Loans, Stephen Porges has found a new target: the big profit margins banks earn on personal loans.

Current Issues

'Online eftpos' launch delayed
Source: - Business
Date Published: 12/03/2015

Shoppers will have to wait longer before they can use eftpos to pay for online purchases.

IBM looks at 'bitcoin' currency system
Source: - World Business
Date Published: 13/03/2015

International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the "blockchain," to create a digital cash and payment system for major currencies, according to a person familiar with the matter.

Alibaba uses facial recognition tech for online payments
Source: CIO
Date Published: 16/03/2015

E-commerce giant Alibaba Group and affiliated online payment service Alipay are aiming to use facial recognition technology to take the place of passwords.

Member Banks

SBS Bank 'makes noise' in mortgage market
Source: - Money
Date Published: 11/03/2015

A market-leading fixed five-year home loan interest rate of 4.99 per cent is designed to make some noise in the New Zealand market and revalidate the benefits of a membership bank, SBS Bank chief executive Wayne Evans says.

Jan Dawson appointed Westpac NZ chair
Source: - Better Business
Date Published: 11/03/2015

Westpac New Zealand has appointed Jan Dawson as its new chairwoman, making her the first woman to lead the board of a major New Zealand bank.

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