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Latest news and insights on banking and finance in Australia and New Zealand, as delivered in the daily 7am Banking Day email news service (subscribe or take out a free trial).

Remittance industry under stress as banks withdraw support
21 October 2014 6:56am
Remittance providers have warned that their industry will be forced to either close down or "go underground", as Australian banks decline to provide them with clearing access because of money laundering fears. » read more »
People's Choice sees 'a critical point' for mutual
21 October 2014 6:55am
The mutual banking sector "which has long been an important part of Australia’s financial system, is at a critical point," John Cossons, chair of People’s Choice Credit Union wrote in the Adelaide mutual's annual report. » read more »
ASIC says vertical integration in financial services a regulatory challenge
21 October 2014 6:55am
The vertical integration of banking, funds management and product distribution is one of the biggest challenges for a securities regulator, the Australian Securities and Investments Commission said in its 2014/15 Strategic Outlook. » read more »
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21 October 2014 6:54am
Mint Wireless dumps CEO
21 October 2014 6:54am
The board of mobile payment specialist Mint Wireless has dumped chief executive Robin Khuda only six months after his appointment. The board announced yesterday that it had started a strategic review of the business. » read more »
Westpac NZ launches PayTag
21 October 2014 6:52am
Westpac New Zealand, which is forging its own path away from the other three big banks on mobile wallets, has launched a PayTag contactless payment sticker for customers' mobile phones.
» read more »
Holiday Coast dives into aggregation pool
21 October 2014 6:51am
The board of Holiday Coast Credit Union in New South Wales wants to "achieve efficiency savings through aggregation" under a model it says need not lead to mergers. » read more »
Subdued Newcastle Permanent looks westward
21 October 2014 6:49am
Net profit for Newcastle Permanent Building Society took a dent in the year to June 2014, falling seven per cent to A$36.4 million.

» read more »
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21 October 2014 6:47am
Competition for new credit card business intensifies
21 October 2014 6:47am
National Australia Bank is the latest credit card issuer to offer an extended zero rate deal to encourage new business. NAB is offering zero interest on purchases for 15 months to consumers who apply for a NAB Low Rate Card before January 18. » read more »
Briefs: NPP jitters, PayPal loan launch imminent, ministers at odds over Asia Infrastructure Investment Bank plan, ANZ creates global commercial banking role, New DIFA chair, New MFAA CEO
21 October 2014 6:46am
Treasurer Joe Hockey is open to the idea of Australia joining the Asian Infrastructure Investment Bank proposed by China, but Foreign Minister Julie Bishop is opposed, The Conversation reports. » read more »
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