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Industry at a Glance 3-Feb-15

04 February 2015

New Zealand Bankers' Association

Banks crack down on money transfer services
Source: Taranaki Daily News - National Business
Date Published: 28/01/2015

The worldwide trend for banks to shut up shop on international money transfer services has reached New Zealand.

Australian News

Westpac to offload South Pacific operations
Source: The Australian
Date Published: 29/01/2015

Chief executive of Westpac Institutional Bank, Westpac Pacific's parent division, Rob Whitfield, said the decision reflected the lender's desire to increase focus on its growth plans in the larger markets of PNG and Fiji. Westpac has strong ties to PNG and Fiji, being both the longest serving bank in...

Customers left high an dry as Bankwest system crashes 
Source: The Sydney Morning Herald News Headlines
Date Published: 02/02/2015

Bankwest ATMs and eftpos services across Australia crashed on Sunday, leaving many customers without a means to pay for goods.

ANZ claims its tax paid in full 
Source: The Sydney Morning Herald News Headlines
Date Published: 02/02/2015

ANZ Bank has weighed into the political debate about corporate tax dodging, telling a Senate committee that 29.3 per cent of its taxable income ended up in federal government coffers in recent years, substantially more than had been claimed.

New Westpac boss stamps authority 
Source: The Sydney Morning Herald National Headlines
Date Published: 02/02/2015

Westpac's new CEO Brian Hartzer has shaken up the bank's structure on his first day, putting technology front and centre.

NAB's Asia push hit by Daryl Johnson exit 
Source: The Sydney Morning Herald News Headlines
Date Published: 03/02/2015

National Australia Bank's executive responsible for driving the lender's push into Asia, Daryl Johnson, is leaving the bank slightly more than a year after he was appointed to the job.


Current Issues

Fair Play on Fees waits for Australian outcome 
Source: Southland Times - National business
Date Published: 27/01/2015

A class action group suing the big banks over allegedly unfair fees is awaiting the result of a similar stoush in Australia before it proceeds any further.

Pushpay announces 3.7 app update 
Source: Scoop NZ - Business
Date Published: 28/01/2015

Pushpay Holdings Limited (NZAX:PAY) (Pushpay) announces payments using the Pushpay app on iOS and Android have just become simpler, faster and more secure. The latest update of the Pushpay app, 3.7, has been released today on iOS and Android. Update

Snapper predicts demise of transport cards 
Source: Dominion Post - Business
Date Published: 28/01/2015

Snapper is forecasting commuters will in future pay for public transport using contactless bank cards, rather than dedicated transport cards such as its own Snapper card.

China's yuan now a top five payment currency 
Source: Taranaki Daily News - National Business
Date Published: 29/01/2015

China's yuan broke into the top five as a world payment currency in November, overtaking the Canadian dollar and the Australian dollar, global transaction services organisation SWIFT said on Wednesday.

How three small credit card transactions could reveal your identity 
Source: CIO
Date Published: 30/01/2015

Just three small clues -- receipts for a pizza, a coffee and a pair of jeans -- are enough information to identify a person's credit card transactions from among those of a million people, according to a new study.

Member Banks

Bank mortgage war brewing 
Source: New Zealand Herald - Banking
Date Published: 01/02/2015

Banks are tipped to drop interest rates to new lows as competition to attract house hunters and homeowners escalates into an all-out mortgage war.Property experts predict rates could drop to less than 5 per cent as banks fight for

Westpac's NZ man snares top local job 
Source: New Zealand Herald - Business
Date Published: 02/02/2015

David McLean has been appointed chief executive of Westpac New Zealand.He had been acting CEO of the Australasian bank's local arm since August, when his predecessor, Peter Clare, resigned to recuperate from heart surgery.McLean,

Governance

Reserve Bank calls press briefing
Source: The Headliner - Investment News Since 1979
Date Published: 02/02/2015

The Reserve Bank has taken the unusual step of calling a press conference prior to a speech that will be delivered on Wednesday this week, without any announcement of the speech title or the topic of the press conference.

General

Major US credit union deploys Wynyard Advanced Crime Analytics tool 
Source: CIO
Date Published: 29/01/2015

Florida-based PSCU signs multi-year agreement with Kiwi software group

Tradie drones, crypto money and the emergence of holonars: MYOB speculates on what 2040 will look like
Source: StopPress
Date Published: 29/01/2015

MYOB's chief technology officer Simon Raik-Allen has in his publication, Future of Business Report – New Zealand 2040, speculated on what the future will look like—and, apparently, there are quite a few surprise on the horizon.

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