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).
-
Home seeks productivity fix
-
30 November 2004 12:00amHome Building Society will seek productivity improvements, continue to invest in the brand and marketing, and begin to "account like a bank" according to the slideshow for an investor presentation delivered by managing director Craig Coleman yesterday. » read more »
-
Hobart suburbs sustain Maxis and Members Equity
-
30 November 2004 12:00amMembers Equity appears to have a particularly effective broker, or brokers, selling loans on their behalf in Tasmania, and in particular to the working class northern suburbs of Hobart, including Austins Ferry, Berriedale, Claremont and Chigwell. » read more »
-
Arrears rise on sub-prime loans
-
30 November 2004 12:00amBorrowers on prime home loans paid back their loans more diligently in the September 2004 quarter, but borrowers with sub-prime or non-conforming loans slipped a little deeper into arrears, the quarterly survey of mortgage-backed bonds by Standard & Poor's shows. » read more »
-
Westpac launches internet banking for large corporate customers
-
30 November 2004 12:00amWestpac has launched a new internet-based cash management system for large corporations, institutions and government. » read more »
-
PayPal tackles Australian market
-
29 November 2004 12:00amPaypal, the non-bank payments provider owned by US-based online auctioneer eBay, is taking to steps to begin offering its services in Australia. » read more »
-
Paymate seeks growth options
-
29 November 2004 12:00amThe entry of PayPal into the Australian market may create issues for Paymate, a home grown payments provider which is a recommended payments option for users of eBay's Australian website. » read more »
-
AmEx and Diners warned on shadow interchange
-
29 November 2004 12:00amThe Reserve Bank of Australia used the annual report of the Payments System Board to remind American Express, Diners Club and their new bank partners that these two charge and credit card brands may be bought within the reach of the PSB's interchange regulations that apply to Bankcard, MasterCard and Visa. » read more »
-
Small merchants secure the largest fee reductions
-
29 November 2004 12:00amThe PSB estimate the average merchant service fee charged by banks was 0.99 per cent in the June quarter 2004, down from 1.41 per cent prior to the standard on credit card interchange fees becoming effective at the end of October 2003. This means merchants overall secured savings in credit card merchant fees equal to the reduction in credit card interchange fees. » read more »
-
Tax concession escalates on farm management deposits
-
29 November 2004 12:00amIn the June quarter the country's most profitable farmers avoided paying tax on another $494 million that they tipped into farm management deposits before the end of the 2003/04 tax year. » read more »
-
Fiserv secures cheque processing contract
-
26 November 2004 12:00amUnisys Payment Services will lose some of its most valuable banking customers in the cheque and voucher processing segment, with the selection by Commonwealth Bank, National Australia Bank and Westpac of rival provider FisServ as the preferred tenderer for a joint venture that will undertake cheque processing for the three banks. » read more »
-
The Mortgage Alternative displaces Pepper
-
26 November 2004 12:00amChallenger Financial Group chair Peter Polson told the company's annual meeting yesterday that the group's non-conforming mortgage business The Mortgage Alternative was already the third largest provider of this style of home loan finance in Australia, about a year after setting up the company and around seven months after ramping up sales through the mortgage broker channel used by Challenger's prime lending business, Interstar. » read more »
