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Industry at a Glance 8-Apr-15

08 April 2015

Payments NZ Ltd

Mastercard Provides Mobile Wallet Solution
Source: Scoop NZ - Business
Date Published: 31/03/2015

New Zealand – March 31, 2015 – MasterCard Mobile Transaction Solutions (MTS) has today announced that it is providing the mobile wallet solution for Semble to enable secure contactless payments with a smartphone in New Zealand.

New Zealand Bankers' Association

Buddle Findlay becomes affiliate member of NZBA
Source: Scoop.co.nz (press release)
Date Published: 31/03/2015

“We are delighted to welcome on board leading law firm Buddle Findlay,” said New Zealand Bankers' Association Chief Executive Kirk Hope. “Joining NZBA as an affiliate member signals Buddle Findlay's commitment to the New Zealand banking industry.

BNZ boss elected chair of Bankers' Association
Source: New Zealand Herald - Banking
Date Published: 01/04/2015

Bank of New Zealand chief executive Anthony Healy has been elected chair of the New Zealand Bankers' Association for the next financial year.Healy takes on the role today, replacing incumbent Barbara Chapman.ANZ chief executive

Australian News

Small banks say don't delay raising big-bank capital levels
Source: The Sydney Morning Herald News Headlines
Date Published: 31/03/2015

Regional banks say there is no reason for the banking regulator to delay raising the capital levels of the big banks to ensure consistency with global bank capital rules, which could take years to complete.

Westpac's Jason Yetton signals potential of peer-to-peer lending and crowdfunding
Source: The Sydney Morning Herald News Headlines
Date Published: 31/03/2015

Banks face growing competition from nascent online industries including peer-to-peer lending, which allow savers to directly fund borrowers via a digital platform, and crowdfunding, which raises an small amount from a large number of funders.

Financial planners register 'a major step forward', says Josh Frydenberg
Source: The Sydney Morning Herald News Headlines
Date Published: 31/03/2015

Assistant Treasurer Josh Frydenberg has hailed the launch of a financial planners register as a “major step forward” for the industry.

MYOB owner dismisses Xero criticism
Source: Sydney Morning Herald
Date Published: 31/03/2015

Mr Reed, Mr Boyce and advisers Citigroup, Goldman Sachs, Merrill Lynch and UBS will visit investors in Australia, New Zealand, Asia and the United States. Mr Boyce said the local market was not a 'winner take all environment' and was likely to remain

NAB says bank strength needs to be measured broadly
Source: Sydney Morning Herald
Date Published: 01/04/2015

The measure of bank strength favoured by the financial system inquiry – capital levels – is too narrow, and assessing capital by reference to offshore banks will create 'uncertainty and unintended consequences', National Australia Bank has told Treasury.

Commonwealth Bank of Australia to sell new Albert payments device to global banks
Source: The Sydney Morning Herald News Headlines
Date Published: 01/04/2015

Commonwealth Bank of Australia expects tens of thousands of its new Albert point-of-sale devices to appear in Australian restaurants, cafes and retail stores, changing the way we pay and gathering richer data.

Tyro says Stone and Chalk needs competition
Source: The Sydney Morning Herald News Headlines
Date Published: 02/04/2015

Tyro chief Jost Stollman, says another fintech hub, independent of bank-backed Stone and Chalk, is needed to ensure new bank rivals don't remain "rounding errors".

Survey: banks improve customer satisfaction in years since 2001 branch closures
Source: The Sydney Morning Herald News Headlines
Date Published: 04/04/2015

Surveys put total customer satisfaction at a 19-year high.

Current Issues

Guide explains bank privacy and confidentiality complaints
Source: Voxy.co.nz - Business
Date Published: 31/03/2015

The Banking Ombudsman Scheme has published a new explaining how the scheme approaches privacy and confidentiality complaints.

NZ's first mobile wallet launches
Source: New Zealand Herald - Banking
Date Published: 31/03/2015

New Zealand's first mobile wallet has been launched this morning by technology company Semble in collaboration with national mobile operators and banks.The free application will be available to android users and customers with ASB

Hair Salon rejects new contactless payment system
Source: Scoop NZ - Business
Date Published: 31/03/2015

Wellington Hair Salon rejects new Semble contactless payments system, endorses Bitcoin. Mane Salon, a Wellington hair salon has instructed its bank not to deploy the new Semble contactless payments system to its EFTPOS terminal.

NZ banks outscore Aussies in survey
Source: The New Zealand Herald
Date Published: 31/03/2015

Kiwi-owned banks are well ahead of their Aussie counterparts, according to a new customer satisfaction survey — and their bosses say they’re not surprised. TSB Bank, The Co-operative Bank, SBS Bank and Kiwibank achieved the highest score for customer

Fake bank notes prompt warning
Source: Otago Daily Times Online -
Date Published: 01/04/2015

Retailers are being warned to be on the lookout for counterfeit bank notes after a number of reports of fake cash being used across the North Island.

Xero launches payroll solution in NZ
Source: Voxy.co.nz - Business
Date Published: 01/04/2015

Xero has today announced its seamless, all-in-one cloud accounting and payroll solution is available for New Zealand customers, bringing together another important small business back office process into Xero’s small business platform.

TUANZ welcomes mobile wallet innovation in NZ
Source: Scoop NZ - Business
Date Published: 01/04/2015

The announcement this morning of SEMBLE, New Zealand’s own mobile wallet coming only 5 months after APPLE launched their proprietary solution in the USA has been welcomed by TUANZ. “The launch today of contactless payment using your smartphone

Broadcom hopes to integrate mobile payments in your next PC
Source: CIO
Date Published: 03/04/2015

Chipmaker Broadcom wants to increase the number of devices that can accept mobile payments with a new microcontroller for PCs and IoT products.

NZ 'punches above weight' in bank technology
Source: New Zealand Herald - Business
Date Published: 03/04/2015

ASB and Westpac banks have taken out the top honours in the 2015 Canstar banking Innovation Excellence Awards with clever new technology-driven products.ASB Bank's PayTag and Westpac New Zealand's Augmented Reality Banking user-friendly

How to combat online scam artists
Source: Stuff.co.nz - Stuff
Date Published: 03/04/2015

Online scams are becoming more sophisticated than ever, costing Kiwis an estimated $400 million each year. What do businesses and individuals risk by maintaining lax digital security - and how can they protect themselves against a rising tide of cyber crime? Andrea O'Neil reports.

Apple Pay running into hurdles at checkout - survey
Source: New Zealand Herald - Business
Date Published: 05/04/2015

Apple's new mobile-payment system is failing to capture all of its potential business, according to a survey, with two-thirds of users reporting problems using the service at the checkout counter.While 66 per cent of iPhone 6 and

Member Banks

Banks drop sweeteners used to lure borrowers
Source: New Zealand Herald - National News
Date Published: 04/04/2015

At least four banks have quietly dropped cash incentives aimed at wooing home loan customers.The move comes after cut-throat "mortgage wars", where banks have jostled with increasingly lower interest rates to compete for customers.BNZ,

Governance

Legal fight over NZ bank fees on hold
Source: New Zealand Herald - Money
Date Published: 03/04/2015

A legal fight over bank fees has been put on hold to await the outcome of a similar court case in Australia.Lawyer Andrew Hooker launched a campaign targeting penalty fees at the end of 2013 announcing plans to file action against

General 

SBS's use of social media helping overcome geography
Source: Otago Daily Times: Business News
Date Published: 01/04/2015

The growth of social media was breaking down the barriers of having a head office at the bottom of the country, SBS chief executive Wayne Evans said yesterday.

Editorial: Australia first to see benefit in Asia bank
Source: New Zealand Herald - Business
Date Published: 06/04/2015

Australia has a well-warranted reputation for being a deputy sheriff for the United States in the Asia-Pacific region. It is, therefore, more than a little surprising that it has become more gung-ho than this country about joining

 

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