Tag: Banking

In October, the government announced a task force to assess the impact of bank branch closures in regional communities.

Volt secured $15m in funding from the AFG group and announced the appointment of ex HSBC chair Graham Bradley as Volt’s chairman of the board.

The demand is there from customers wanting help with managing finances, and the technology is available; it is now up to the banking industry to respond and bring our bank accounts truly into the digital age.

Debit card provider eftpos unveiled its plans for a national QR code payments network in Australia which is set to commence trial mid-year.

Data released from the Australian Prudential Regulation Authority shows that loan deferrals have decreased, as exits from deferrals outweigh new entries for five straight months leading up to November 2020.  A total of $60 billion of loans – around 2.3 per cent of total loans outstanding – were on temporary repayment deferrals as at 30 […]

Less than 5 per cent of the Federal Government’s $40 billion Coronavirus SME guarantee scheme has been taken up by business owners. On 22 March, the Government announced the Coronavirus SME Guarantee Scheme (the Scheme). Under the Scheme, the Government guarantees 50 per cent of loans issued by eligible lenders to SMEs. Loans can be […]

Small Business and Family Enterprise Ombudsman, Kate Carnell, has spoken out on the recently approved new version of the Banking of Code of Practice – a set of enforceable standards that small businesses can expect from Australian banks. The updates come into effect in March this year and was only last updated in July last […]

Today we posed the question of competition, and whether the big financial institutions can survive without Fintech or not. We know that competition in the banking landscape is very low, with the big 4 still holding most of the power in the market. It’s been a subject that we have discussed a lot at Dynamic […]

Analysts are increasingly confident the RBA will move rates for the first time since August 2016 on Tuesday in a bit to reignite stalling economic growth. The Reserve Bank cash rate could change for the first time in nearly three years this week with a cut to a new record low a real possibility after […]

This week we hear from two leaders on the big 4 banks, discussing whether they are becoming redundant to small business. It is becoming increasingly challenging for small and medium enterprises to secure bank finance as rejection figures are on the rise.  An analysis of business loans by financial comparison site Mozo.com.au has found staying loyal to […]