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Open Banking helped the rise of neo-banks and fintech

Details: These non-bank lenders have also been able to successfully chip away on segments that are shunned by bigger banks, such as automotive lending. Plenti Group (ASX:PLT) , for example, is a non-bank lender that specialises in automotive lending, where it commands 2% of the Australian market.

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Think Big: The market and the RBA disagree on interest

Details: 2 days ago · At that point, the central bank will own around 35% of all Australian government bonds outstanding. Such a stake is starting to skirt the edges of an RBA-influenced paradigm that could disrupt the orderly functioning of the bond market, UBS said.

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Bank of Queensland

Details: Bank of Queensland (ASX:BOQ) Company Profile. Check out the latest news, insights and unique analysis brought to you by Stockhead's team of business journalists and industry experts on Bank of Queensland. BOQ Share Price and Trading History. RELATED STOCKHEAD STORIES. News.

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Expert's View: A delayed economic recovery is a bigger

Details: The threat by regulators to act on the credit binge might not be the biggest danger to the big bank stocks. Record low interest rates triggered a surge in lending that benefited many big bank stocks and other lenders. For months the RBA has flagged concern about the …

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The world's central banks are on deck this week

Details: Elsewhere. On Thursday during Asian trade, the Bank of Japan will be on deck, with no change expected to its current policy settings. Among advanced economies, the BoJ has the most dovish policy mix with a YCC program aimed at keeping 10-year bond yields at zero per cent. It also employs negative interest rates of -0.1 per cent.

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Think Big: Australia's biggest cities are in lockdown, and

Details: In turn, the central bank is holding steadfastly to its prediction that rates won’t rise until 2024. But in Aird’s view, the RBA may be underestimating the jolt to consumer demand stemming from Australia’s historic post-COVID policy response (both fiscal and monetary). He also added this:

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The Secret Broker: No, this is how you catch a 'Big Wave

Details: A bank owning a TV station. Please bring back a Skase or a Bondie and make my COVID lockdown days interesting. Ironically, if Packer had just held on to his shares and died with them, he would have been buried A$10bn richer and James could have just built and funded the whole of One Barangaroo himself.

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Resources Top 5: Investors love high grade gold, silver

Details: Bank of America analysis predicts that delayed power plant closures could boost global uranium demand by 26Mlbs, “unleashing a meltup in uranium stocks”, according to ZeroHedge. A number of Aussie uranium stocks jumped in early trade, led by Bannerman Resources and Alligator Energy.

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Douugh hits the ASX boards, aims for first mover advantage

Details: Special Report: The fintech platform is taking a partnership approach to scale by leveraging the infrastructure of established bank partners. Fintech company Douugh (ASX:DOU) has joined the ASX boards today after closing a $6m share placement that was heavily oversubscribed last month. The company now plans to scale up its financial wellness platform in partnership […]

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RBA closer to getting out the cheque book as COVID-19

Details: Before the bushfires and well before the coronavirus epidemic, economists and financial types were already speculating the Reserve Bank would need to backstop the Australian economy. Now that markets have started on the biggest dive since 2008, the All Ords losing 6.3 per cent yesterday, and interest rates already at record lows, that speculation is […]

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Could Australia's big banks face headwinds by restrictions

Details: “Carefully targeted and timely adjustments are sometimes necessary. There are a range of tools available to APRA to deliver this outcome.” Many banking and lending stocks on the ASX have benefited from the credit binge ranging from the big banks to non-bank lenders – some of which only listed in the last 12 months.. Could their momentum be undone by new regulations?

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Gold takes a breather as UBS raises ’21 price forecast to

Details: Last week’s Federal Reserve meeting gave some support to gold prices, as bank chairman Jerome Powell said US interest rates would stay on hold at close to zero through to 2023, analysts said. “There are certainly sufficient things in the world to support gold, not least of which is the extreme easy [monetary] policies being pursued by

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Bendigo and Adelaide Bank forks out $116m to bring neobank

Details: Three years since neobank Up launched as a collaboration between fintech Ferocia and Bendigo and Adelaide Bank (ASX:BEN), the latter is buying out the former.. Ferocia is a fintech software development company co-founded by former St Kilda coach Grant Thomas that has collaborated with Bendigo for nearly a decade on its regular banking app. Together with Bendigo, it launched Up back …

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Neobanks think the Big Four should be scared of them, but

Details: CommBank will be investing $5 billion in its digital offerings over the next five years. Among the reasons for the investment given by CEO Matt Comyn was “to maintain our leadership position”. Westpac has been less prominent about its technology upgrades. But it was the best of the Big Four in the most recent Global Mobile Banking Benchmark

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RBA: There are good signs in the economy but still no

Details: “The Bank will continue to purchase bonds given that we remain some distance from the inflation and employment objectives. “However, the Board is responding to the stronger-than-expected economic recovery and the improved outlook by adjusting the weekly amount purchased.

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It's not just the Big 4

Details: The newest ASX bank stock is online lender Liberty Financial (ASX:LFG) which listed in December and has gained over 25 per cent since listing. The Big 4 have made gains in the last 12 months – albeit from COVID-19 lows. ANZ (ASX:ANZ) is the best performer having gained 75 per cent while the “worst” was CBA (ASX:CBA) which is up 41 per cent.

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TZ just snapped up a nationwide network of click-and

Details: Image: The Bank Job, Lionsgate and Paramount Pictures. TZ just snapped up a nationwide network of click-and-collect locker banks. Tech. April 7, 2021 | Special Report. share. ASX-listed smart locker company TZ Limited has entered an agreement with CouriersPlease to acquire its Australia-based POP Station locker bank network. The deal will give

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After a year of hitting milestones, Peppermint is ready to

Details: That agreement followed another crucial deal in March with the Bank of the Philippine Islands (BPI) – the oldest bank in the Philippines. In that deal, existing bizmoto agents will be able to seamlessly top-up their mobile wallet 24 hours a day, 7 days a week, 365 days a year via an online access to a BPI account.

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Change Financial partners with US-based Axiom Bank

Details: The partnership agreement with US-based Axiom Bank establishes a solid foundation for future growth and upcoming programs for Change Financial in the region. Global fintech Change Financial (ASX:CCA) has announced a partnership with Axiom, one of the fastest growing community banks in the US. The

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Douugh could be the ASX's first neobank but experts are

Details: Douugh calls itself a fintech rather than a bank. It partners with local banks to offer its services; in Australia its partner is Regional Australia Bank. Using a freemium model, Douugh offers free saving and cheque accounts and makes money from card transactions in the US, and once launched from a subscription service for people who want to

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Could tonight's US Fed decision trigger a 'taper tantrum

Details: Tonight’s US Federal Reserve meeting is shaping up as a key risk event of the week, as the central bank prepares to answer a number of important questions about the orderly wind-back of its post-COVID policy stimulus. The Fed will decide whether or not it …

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Zyber chair on the hook for $200k after investors sue

Details: Puddick and his father each put $100,000 into the bank account of Dyamond Developments, a company controlled by Hatzipapas and his wife Argiroula. Gravity Consulting did not respond to two requests for comment on any IPO plans. Its only ties to Microsoft appear to be a partnership in the tech giant’s co-seller program. ‘My patience has run

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Tech: Novatti takes on a further $1.1m investment for its

Details: Novatti is awaiting confirmation from the domestic bank regulator, APRA, for approval of a restricted authorised deposit-taking institution (RADI) licence that it applied for last November. The company said its application is “largely finalised, with final …

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British banking giant Standard Chartered values Ethereum

Details: Leading British investment bank Standard Chartered has produced an eye-popping valuation of Ethereum, saying it is worth roughly seven to 10 times its present price.. Standard Chartered, a top 10 UK bank that dwarfs Macquarie Group in size, this week produced a 17-page “Ethereum investor guide” “structurally” valuing the No. 2 cryptocurrency at US$26,000 to US$35,000.

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Central banks are ramping up their yardsticks to ease

Details: The Reserve Bank of Australia may not have much room to cut interest rates further, but it has other tricks up its sleeve, and is now implementing them. It began on Friday, adding $8.8bn in liquidity to the banking sector through repurchase agreements or repo operations. The RBA added another $5.9bn today. These are short-term […]

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Afterpay: Our sales just doubled again. UBS: You're still

Details: Afterpay (ASX:APT) has released its latest half-yearlies, and resident hater UBS bank still ain’t impressed. The BNPL market leader reported underlying sales of $9.8 billion for the six months to December 31, a gain of 106 per cent. That flowed through to revenue of $417m (up 89 per cent), just shy of the UBS estimate of $432m.

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Digital identity the next frontier for FinTech innovation

Details: La Poste’s L’Identité Numérique is an initiative that allows French citizens to access everything from their social security payments and retirement documentation, with future enhancements allowing you to open a bank account or sign up for private or mutual insurance on the go,” Steller said.

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The RBA says it's on after hitting button on record low

Details: The Reserve Bank has cut the official cash rate to 0.25 per cent, the first unscheduled cut since 1997, and announced its first step into quantitative easing (QE) as the full impact on the economy by the COVID-19 measures begin to be felt.. In an emergency meeting, the RBA said it won’t increase the cash rate target until it can see progress towards full employment and inflation sitting

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Change Financial

Details: Change Financial (ASX: CCA) is a global FinTech listed on Australian Securities Exchange, which delivers innovative and scalable payments solutions for exisiting and emerging markets. Change’s technology offers Banking as a Service (BaaS) solutions to businesses and financial institutions, redefining the possibilities of payments and card

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IOUpay acquires stake in Malaysian finance company I

Details: Each bank partner provides funding for and assumes the credit risk of the customers they refer. The business complements IOUPay’s own offering, and opens the door to collaboration and cross-selling opportunities between the two companies. Specifically, there are clear cross-selling opportunities between IOUPay’s short term BNPL offering (up

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Zip Co deal is evidence of cost competition in BNPL sector

Details: Yesterday’s Zip Co (ASX:Z1P) update on its Visa partnership was “significant”, UBS says. But equities analysts at the bank also say it marks further evidence of cost competition in the sector. The Zip Co announcement was one of two big BNPL stories, as market leader Afterpay (ASX:APT) hit the $100 mark following a tie-up with Westpac.

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Australia's neobanks' future is clouded after Xinja's fall

Details: But after a tough 2020 that saw venture capitalists and retail banking customers become more picky about where to put their money, the bank told customers it was handing back its licence. Xinja spent much of 2020 seeking over $400 million in funding from Dubai-based World Investments but this never eventuated.

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Big investors are favouring Ethereum over Bitcoin, says

Details: The US multinational investment bank reportedly wrote a note to its customers this week informing them that, during September, Bitcoin futures on the Chicago Mercantile Exchange (CME) have been trading lower than the actual spot BTC price. This is known as trading at a “discount”.

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Think Big: The COVID-19 policy response is in 'unchartered

Details: The historic policy response to COVID-19 will result in inflation rising faster than the Reserve Bank currently forecasts, CBA says. Inflation and the outlook for interest rates has been a topical discussion on equity markets through the middle of this year. And in his latest appraisal, leading

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Reporting Season Round Up: CBA flags monster dividend

Details: The bank also announced a $6 billion share buyback and that it would distribute $2.1 billion in franking credits. The bank also impressed with its bottom line, making an $8.843 billion statutory net profit after tax, up nearly 20% from FY20.

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As the Finance Forum drama entangles Westpac and Humm

Details: Japanese-based Sumitomo Bank is claiming $100 million in its litigation, and France-based Societte Generale is filing to recover $9 million. Meanwhile, small cap BNPL fintech HUMM Group (ASX:HUM) announced that it was also victim in the scandal, confirming that it was potentially exposed to $12 million to FF’s fraudulent activities. Humm said its records indicate its now decommissioned

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$7bn fintech TransferWise says there's an 'outsized

Details: Having started as a cross-border payments platform, TransferWise built an early niche by offering foreign exchange service based on inter-bank exchange rates. Instead of its own brokerage rate, it would charge a commission on top of the standardised rate. The model has allowed it to build a global customer base of 8 million users.

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This irresistible slice of UBS humble pie is all you need

Details: Throughout the post-COVID surge in the Afterpay (ASX:APT) share price, the analyst team at UBS bank stayed notably bearish relative to the market consensus.. Back in February, when APT recorded half-year sales of $9.8bn and its stock was trading above $130, UBS thought it was worth more like $30. Over the course of the year its valuation on the BNPL leader crept up (slightly), to just …

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Aussie-founded Zipmex raises $41m in investment round

Details: Asia-Pacific digital asset exchange Zipmex has plans to further expand into Australia after raising US$41 million in a series B funding round. Krungsri Finnovate, the venture capital arm of the Bank of Ayudhya, led the capital raising. It’s Thailand’s fifth-largest bank, majority-owned by Japan’s Mitsubishi UFJ Financial Group (MUFG).

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NASDAQ listing still on the cards for MyFiziq after big

Details: The company announced this morning that it’s retained Ladenburg Thalmann & Co. Inc, a NYSE-listed investment bank, as lead underwriter for the move. Amid a run of good news flow, shares in MyFiziq have had a torrid start to the 2021 financial year climbing from below 30c …

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iSentric adds BNPL capability to platform in Malaysia

Details: Bank lending to consumers is a highly regulated business in these countries, and only the most secure borrowers can get loans. Credit cards do play a role in the Malaysian consumer credit market, but they are losing popularity as digital technology in the form of …

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BNK Bank rises after teasing shareholders with the

Details: BNK Bank’s history. BNK Bank has been in business since 1982, founded as a West Australian credit union known as Gold Fields Money but was demutualised and listed on the ASX in 2012. It was only towards the end of the 2010s that it changed its name and closed its branches making it a digital bank.

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RBA governor predicts 'bumpy' road ahead, rules out

Details: RBA governor Phil Lowe has provided an update on the central bank’s thinking as it helps the Australian economy navigate through the pandemic. In an annual speech to the Anika Foundation, Lowe highlighted the historic level of job losses that resulted from the crisis. But on the plus side, the overall decline in hours worked […]

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ASX Small Cap Lunch Wrap: Trying to climb back from Friday

Details: The Emerging Companies micro-cap index was up just 0.34 per cent after dropping 1.74 per cent on Friday. The ASX200 meanwhile was up 101.6 points, or 1.52 per cent, after the Reserve Bank of Australia offered to buy $4 billion of longer-dated bonds, double the normal amount, in an attempt to keep rising bond yields down.

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Gold shrugs off March low to reach two-month high of $US1

Details: The National Bank of Hungary bought around 60 tonnes of gold in March, one of the largest monthly purchases by a central bank since Mexico’s near 80 tonnes in March 2011. The Hungarian central bank has nearly tripled its gold holdings to 94.5 tonnes in order to “strengthen the stability of the country’s financial system”, said the World

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