Debunking Open Banking to democratise financial services

Open Banking is here. It’s not scary, and it could save you money. I asked my 72-year-old Dad what he thought Open Banking was. With a daughter deep in the fintech industry, you would hope he’d know a thing or two about dollars and cents.  Despite his enthusiasm for the topic, he thought Open Banking… Continue reading Debunking Open Banking to democratise financial services

ANZ offers $200,000 loans to small businesses

Mark Hand, ANZ Group Executive Australia Retail and Commercial Banking

ANZ today launched a new digital lending platform to provide a conditional $200,000 to small businesses in unsecured lending in as little as 20 minutes if they share their Accounting Software Platform. Developed in partnership with DemystData – an external data marketplace – ANZ Online Business Lending syncs with Accounting Software Platforms (ASPs) Xero, QuickBooks… Continue reading ANZ offers $200,000 loans to small businesses

How SMEs can avoid common financial pitfalls by managing cash flow

Setting up a small business can be an exciting yet daunting experience. By the time you actually launch your business you have likely experienced a lot of uncharted waters, sleepless nights, caffeine highs and are generally left questioning your overall sanity. Trust me I know. In 2008 my brother and I started our business, Credit… Continue reading How SMEs can avoid common financial pitfalls by managing cash flow

Let’s Talk: Competition

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… Continue reading Let’s Talk: Competition

Confidence slips after RBA holds rate: ANZ

Consumer confidence fell last week as Australians’ perception of the economy at large took a sharp negative turn following the central bank’s decision not to cut the cash rate, ANZ analysts say. The ANZ-Roy Morgan Australian Consumer Confidence index slid by 2.1 per cent from the previous week, with the “time to buy a household… Continue reading Confidence slips after RBA holds rate: ANZ

Morrison: Interest rate cut up to RBA

Prime Minister Scott Morrison won’t be drawn on a possible interest rate cut by the Reserve Bank, saying any reduction is a decision for the independent central bank. Financial markets see an increased likelihood of a cut in the 1.5 per cent cash rate after inflation figures released this week showed the annual rate unexpectedly… Continue reading Morrison: Interest rate cut up to RBA

National research reveals SMEs’ top five funding frustrations

Around 9 out of 10 Australian SMEs are frustrated about their business funding, naming onerous loan conditions, having to provide property security and a lack of flexibility as their major concerns. These are the findings of the latest SME Growth Index, conducted independently by banking market analysts East & Partners, on behalf of national working capital… Continue reading National research reveals SMEs’ top five funding frustrations

Experiences are the way to capture the hearts (and wallets) of bank customers

Byline: Todd Handcock, President, Asia Pacific, Collinson Banks are facing increasing pressure to grow their business in the era of digital disruption and open innovation. Profound changes in consumer behaviour, technological innovations, the availability of a massive amount of data and the connected lifestyle of customers have led to a blurring of industry boundaries. Today’s consumers… Continue reading Experiences are the way to capture the hearts (and wallets) of bank customers