ChimpChange Limited, Australia's only listed digital banking platform, has appointed Andrew Pipolo as a non-executive director. He is a former senior eCommerce executive at Mastercard and a managing director of both PayPal Australia and PayPal Japan. Since leaving PayPal in 2011 Andrew has owned, operated and consulted for fintech companies, with a particular focus on payments - the most recent was LoopPay, a mobile wallet product acquired by Samsung Pay in 2015. Looking at the AUSTRAC action against CBA, Kevin Davis from University of Melbourne, says in the AFR: "The amounts of identified money-laundering transactions do not appear to be huge - compared to some overseas cases. The AUSTRAC filing with the Federal Court indicates maybe $100 million dollars or so....But the alleged failure of CBA's systems and processes to comply with the requirements of the Anti-Money Laundering and Counter-Terrorism Financing Act, if proven, is an enormous failing of governance and risk management....' This leads him to conclude: "The odds on a Royal Commission or further Parliamentary Inquiry into banking have just shortened significantly." Fixed rate demand has risen to its highest level in since December 2013, according to new data from Mortgage Choice. Its latest national home loan approval data shows fixed rate home loans accounted for 29.6 per cent all loans written in the month of July. Mortgage Choice chief executive officer John Flavell said the surge in popularity for this type of product was due to several lenders trimming up to ten basis points from their four and five year rates at a time when pricing for interest only loans.