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).
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Commonwealth stung by $7m fraud
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14 July 2005 12:00amCommonwealth Bank has appointed receivers and managers to TDM Australia, a company of uncertain history and apparently no substance. » read more »
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Keane lands Melbourne micropayment contract
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13 July 2005 12:00amAn opportunistic consortium that formed around US contractor Keane Inc beat ADI to a contract to supply a ticketing contract based on smart cards for public transport in Victoria. » read more »
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FNS stands alone
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13 July 2005 12:00amThe Union Bank of the Philippines has gone live with the Finacle banking software from Indian IT consulting services and solutions provider Infosys, which will help wean the bank off its existing mainframe computers and on to mid-range servers supplied by Sun Microsystems. » read more »
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GE waives forex fees on Wizard credit card
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13 July 2005 12:00amGE Money have read their market research and taken some steps to simplify the credit card fee confusion. » read more »
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ANZ franchises displace mortgage brokers
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13 July 2005 12:00amANZ Bank told the Financial Review that the bank's 106 franchised mortgage businesses were generating five per cent of new loans. » read more »
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The ABCs of easy credit
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12 July 2005 12:00amABC Learning, star of the fading child care bubble, is getting into the business of being credit provider. » read more »
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ABC credit looks cheap
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12 July 2005 12:00amThere ought to be demand for this style of supplier credit from ABC Learning. The mechanics of the government's child care rebate are cumbersome. The rebate is paid to eligible taxpayers as a one-off payment and incorporated within a taxpayer's annual tax return for the financial year ending in June 2006. However, the rebate relates to "out of pocket" expenses incurred by eligible parents during the course of the financial year that ended two weeks ago. » read more »
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Excess bank mail nabbed loan scammers
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12 July 2005 12:00amThe Herald Sun reported a hearing in the Victorian Magistrates Court yesterday in which two Melbourne men, James Faneco and Denis Smith, allegedly stole more than $3 million from banks. » read more »
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CBA open to calls but closed to questions
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12 July 2005 12:00amOpening a bank's customer call centre 24 hours a day must be a pretty rare thing, since Commonwealth Bank, via public relations firm Hill & Knowlton, considered it worth the trouble to publicise. » read more »
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Australasian banks' credit strength confirmed
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12 July 2005 12:00amThere were no surprises for the Australian and New Zealand banks rated under Standard & Poor's new Bank Fundamental Strength Ratings, which were launched yesterday. » read more »
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ANZ looks to the unbanked for growth
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11 July 2005 12:00amANZ Bank's "most successful" and "fastest growing" business is not in Australia or New Zealand but is instead in Fiji. » read more »
