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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).

Briefs: New execs at SocietyOne and MyState, Wide Bay's name change, NAB tops up BNZ's capital, more trans-Tasman news
26 March 2015 7:09am
Australian peer-to-peer lending platform SocietyOne announced yesterday that Simon Schwarz will join the company as chief operating officer. Schwarz was the chief credit officer of the Australian arm of the global investment and private banking Investec Group.
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Overseas news briefs: Indian banks warned on outsourcing, Indonesia seeks project funding, Malaysia-Vietnam joint venture revised
26 March 2015 7:02am
With the rise in the number of loan default cases, the Reserve Bank of India has warned lenders against outsourcing their credit processing activities to third party entities, reports Press Trust of India.
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No clear direction for regulation of the 'disruptors'
26 March 2015 6:56am
While peer-to-peer lenders and other "disruptors" argue for light touch regulation to give their businesses a chance to grow, the emerging consensus among commentators is that these innovative business practices carry risks for customers and investors that make regulatory oversight necessary. » read more »
Commodity slump no pain for banks
26 March 2015 6:55am
Recent sharp falls in commodity prices are more annoying than worrying for supervisors of loans to resource companies. » read more »
Foreign flows fan property risks
26 March 2015 6:48am
The Reserve Bank of Australia pointed to a "search for yield behaviour underpin[ning] strong investor demand for commercial property assets, particularly from offshore investors," as a key financial risk. » read more »
Mortgage market more competitive but pressures build
26 March 2015 6:47am
Smaller lenders took some share away from the big banks in the mortgage market last year, thanks to more favourable funding conditions and investment in broker distribution, but it remains to be seen if they can maintain this higher share. » read more »
ANZ to launch NZ mobile wallet
26 March 2015 6:44am
ANZ New Zealand has announced plans to launch a mobile wallet within its goMoney app that is used by over 120,000 of its customers with the newest Android smart phones. » read more »
NZ's Baptist Savings rated B+
26 March 2015 6:43am
Fitch Ratings has assigned a B+ rating to New Zealandís Baptist Savings, a first-time rating for the savings society which was set up to provide loans to Baptist church organisations. » read more »
Australian bank fees cases resonate with KKR
25 March 2015 6:52am
KKR will cap GE Capital Australia's liability for excess bank fees charged over many years, should class actions succeed and the investment house buys GE's unwanted consumer finance arm. » read more »
Moral hazard still has Murray simmering
25 March 2015 6:50am
The chair of the Financial Services Inquiry, David Murray, has kept the debate simmering over the adequacy of how bank capital is measured.

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Cyber security self-regulation has failed
25 March 2015 6:47am
Finance industry self-regulation in the area of cyber security has failed and it is time for the regulators to step in, according to a leading banking industry figure. » read more »
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