Banking industry stories

The companies are building a co-innovation platform and talent ecosystem for delivering more equitable and inclusive access to financial services.

Mastercard has announced it is accelerating efforts to remove first–use PVC plastics from payment cards on its network by 2028.

The personal finance experts at money.co.uk, in their 2022 Fraud Report, have revealed the average monthly losses to fraudsters in 2022 to be over £333 million.

Businesses looking to make the most of new technology can push their operations forward - however, getting the most out of software can sometimes mean making slight compounding adjustments rather than sweeping changes.

Some 30% of banks with greater than $1bn in assets will launch BaaS for new revenue by the end of 2024, but half will not meet revenue expectations.

According to IDC, ANZ spending on BDA solutions is expected to grow at 13.3% in the five years between 2021-2026, and hit US$8.9 billion by 2026.

Trends across the market have continued to show that customers are expecting transactional banking activities to be completely effortless.

The banking industry as a whole is undergoing a digital transformation, challenging the supremacy of established banks that have, for decades, been at the heart of the global financial system.

Virgin Money has worked with Kiwi SaaS 9Spokes to build a custom version of its business dashboard offering, M-Track, to generate stronger insights for the bank and its customers.

SC Ventures has launched Appro, a fintech startup, to simplify the retail banking user journey, aiming to foster greater efficiency in application processes for retail banking products.

"The threat landscape is evolving rapidly, and mobile malware is a significant danger for both personal and enterprise security.”

ASB is helping 18 to 24-year-olds take advantage of financial possibilities and better understand the world of money.

The launch will enable businesses in New Zealand to tap into Airwallex's global payments services, offering an alternative to traditional banks.

A new report gives payment providers a forward-looking view of the evolution of payments and investment drivers for modernisation.

The majority of Australians are beginning to examine fees more closely. Unfortunately, no transaction is completely and always ‘free’. 

The new AI development by DataRobot helped CIMB develop machine learning credit models for its retail portfolio strengthening the bank's credit risk modelling and retail underwriting capabilities.

In just a few years, well-funded fintech firms, mobile wallets, trading apps and digital-only banks have revolutionised the centuries-old banking industry.

Gartner says generative artificial intelligence, autonomic systems and privacy-enhancing computation are gaining traction in banking and investment services.

NICE has announced the successful implementation of the NICE CXone platform with Regional Bank Australia.

Xero has announced a raft of new globally available solutions, features and product updates for the month of May, along with future developments soon to be rolled out.

"The pandemic put a sudden, massive burden on SMEs globally, and they didn't think banks did enough to help them."

Retail banks are lagging in their ability to offer true omnichannel experiences, as customers pivot to competitors that offer more personalised experiences.

VMware's most recent report finds 74% of businesses experienced one or more ransomware attacks in the last year, with 63% deciding to pay the ransom.

Researchers at cyber security firm ESET have analysed three malicious Android applications targeting customers of eight Malaysian banks.