Briefs: Flexigroup bundll’s Mastercard, CML and COG make up, Heritage deferrals down 20 November 2020 4:36AM Banking Day staff Briefs, Payments, mobile & wallets, MasterCard, Consumer lending, Heritage Bank, Arrears/performance/credit quality., Police Bank, NAB Flexigroup has contracted with Mastercard to offer the consumer finance company’s “buy now pay later anywhere” product bundll globally. Already offered in Australia, bundll allows consumers to use BNPL anywhere Mastercard is accepted. Under the new deal Mastercard will promote adoption of the platform in overseas markets. Flexigroup also launched humm90, a Mastercard with long-term interest free (up to 110 days) on each purchase. Finance company CML Group and finance broker COG Financial Services, which called off a merger deal in March, have signed a referral agreement. COG has a 16.3 per cent shareholding in CML and, as part of the agreement, COG director Stephen White will join the CML board. Coincidentally, Consolidated Operations Group has changed its name to COG Financial Services, while CML plans to change its name to Earlypay. Heritage Bank reported that only 5 per cent of the 2150 of its customer loans that were put on deferral arrangements remained on deferral past the initial assistance period. The initial deferral number represented 6 per cent of borrowers. Raff Del Vecchio, deputy chair of Police Bank, has lost his bid for re-election and will leave the board next week. Former deputy commissioner of NSW Police, Nick Kaldas, was voted in as a director. NAB’s Kiwi subsidiary BNZ has announced an extensive branch closure program, planning to shut eight of its branches on Christmas Eve and 30 more before the middle of next year. The bank says COVID-19 has accelerated the trend of customers banking digitally. BNZ will retain just over 100 branches plus 400 ATMs and three mobile branches.