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Industry at a Glance 21-Apr-15

23 April 2015

New Zealand Bankers' Association

Time to ask your bank for a better deal
Source: 3 News - Business / Finance news
Date Published: 20/04/2015

Advice coming from banking experts, mortgage brokers and the Bankers Association is now is a great time to ask your bank for a better deal.

Australian News

Senate banks inquiry may not fix advice malaise
Source: The Sydney Morning Herald News Headlines
Date Published: 20/04/2015

All of the country's big four banks have now been dragged into financial planning scandals after several customers took legal action against Westpac for misleading and deceptive conduct.

Current Issues 

Westpac banking on Apple's smart watch
Source: Stuff.co.nz - Technology
Date Published: 14/04/2015
Westpac has given people a sneak peek of what it is has planned for customers who buy one of Apple's smart watches.

Don't look now, but ATMs are about to get a cloud makeover
Source: CIO
Date Published: 16/04/2015

Automated teller machines have been around for decades, but surprisingly few changes have been made to the technologies that run them. That's about to change.

FMA completes Memorandum of Understanding
Source: Scoop NZ - Business
Date Published: 16/04/2015

The Financial Markets Authority (FMA) has recently signed Memorandums of Understanding (MOUs) with the Insurance Savings Ombudsman (ISO) and the Banking Ombudsman Scheme (BOS). This follows the completion of MOUs with the Financial Dispute Resolution

A journey into mobile payments: Convergence, innovation and financial inclusion
Source: ITBusiness.ca (blog)
Date Published: 18/04/2015

I have been engaged in the financial services industry long enough to have manually calculated “test Keys” to send SWIFT (Society for Worldwide Interbank Financial Telecommunication) Payment Messages, Chaired National Treasury Management

Consumer Watch: Safety net to curb loan sharks
Source: New Zealand Herald - Business
Date Published: 19/04/2015

Loan sharks will be targeted by a new code aimed at increasing protection for Kiwis paying interest rates up to 30 times more than they would be charged by a bank.The Responsible Lending Code comes into force on June 6. The policy

4/19/2015: BUSINESS FEATURE: Consumers need to play a role in protecting their electronic personal data, writes
Source: Sunday Star Times
Date Published: 19/04/2015

SEMBLE, A mobile phone app allowing people to use their phones as credit or debit cards, wants to make your wallet redundant. Its creators expect credit cards, scheme debit cards, loyalty rewards schemes and travel cards will vanish into your mobile

ASB introduces temporary "block" for misplaced cards
Source: Stuff.co.nz - Business
Date Published: 20/04/2015

They are found in the freezer, the dishwasher, the DVD player, baked inside a cake, and in many cases, hiding inside a brassiere.

Member Banks

Reserve Bank to crack down on reverse mortgages
Source: Stuff.co.nz - Business
Date Published: 18/04/2015

Controversial "granny mortgages" are facing a crackdown by the Reserve Bank.

Banks declare they are here to stay with new-look branches
Source: The Sydney Morning Herald News Headlines
Date Published: 18/04/2015

A community backlash occurred when some bank branches closed after the introduction of online banking and ATMs.

Westpac boss sees NZ as innovation lab
Source: New Zealand Herald - Banking
Date Published: 20/04/2015

Westpac Group chief executive Brian Hartzer has embarked on a mission to transform the bank into a world-leading service company, with the Kiwi operations playing a Trojan horse role when it comes to innovations.Hartzer says the

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