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Industry at a Glance 2-Sep-14

04 September 2014

Australian News


Why do electronic transfers take so long?
Source: Sydney Morning Herald
Date Published: 23/08/2014

The chief currency strategist at the global payments provider OzForex, Jim Vrondas, blames the frustration on the global transfer network: the ill-named SWIFT (Society for Worldwide Interbank Financial Telecommunication). Banks rely on SWIFT, which in

Card surcharges costing Australians $1.6b
Source: The Age National Headlines
Date Published: 27/08/2014

Card surcharges are costing Australians $1.6 billion each year, and the charges need to be abolished or better regulated, says MasterCard.

ANZ warns over cost of further moves
Source: The Australian
Date Published: 29/08/2014

ANZ Group says having robust small banks is as important as having strong big banks, but has warned moves to strengthen the financial system further may come at a material cost to the economy while providing few additional benefits to financial system 

Current Issues


Westpac NZ turns to New York start-up for web banking
Source: CIO
Date Published: 26/08/2014

Westpac New Zealand is using money management tools created by New York start-up Moven to drive a new platform that will enable customers to do 90 per cent of their banking online.

EBT Or Savings: NZ Business
Source: Scoop NZ - Business
Date Published: 30/08/2014

Each year CANSTAR researches both the deposit and credit card products available for New Zealand businesses and rates those products from one to five stars in accordance with the value that the product represents for business owners. The good news is

Mobiles fuel i-shopping boom
Source: New Zealand Herald - National News
Date Published: 31/08/2014

With the swipe of a screen we browse, skim the news, tweet, buy music and compare products.But buy shoes? No thanks.In the past six months, mobile device use has skyrocketed with three out of four New Zealanders owning a smartphone

Member Banks


Kiwibank notches up milestone
Source: - Industries
Date Published: 29/08/2014

State-owned Kiwibank Group has notched up a milestone by posting an after-tax profit of $100 million for the year to June and expects to pay its first dividend to parent company New Zealand Post within three years.



Banking Forum set up to streamline Govt agencies
Source: NewstalkZB - Latest News
Date Published: 26/08/2014

A new organisation is being set up to better coordinate the work of several Government agencies that regulate banks.



Credit unions in the political spotlight
Source: Scoop NZ - Politics
Date Published: 29/08/2014

Dirty politics was put aside last night as senior politicians outlined their universal support for growing the cooperatively owned credit union and mutual building society sector in New Zealand.

Startups offer banking for smartphone users
Source: New Zealand Herald - Business
Date Published: 30/08/2014

NEW YORK (AP) The latest banks are small enough to fit in the palm of your hand.Startups, such as Moven and Simple, offer banking that's designed specifically for smartphones, enabling users to track their spending on the go. Some

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