Japan's Crowd Bank backs Zagga business lending 04 December 2020 6:29AM Latest news Bernard Kellerman Japanese crowdfunding platform Crowd Bank is venturing into the Australian small business lending market, tipping A$50 million into Zagga, a marketplace lender set up in 2016. read more
Fintech chase weighs on bank profits 12 September 2019 4:13PM Major Banks Ian Rogers The system-wide cost to income ratio of 52.0 per cent is up 330 bps in one year. read more
S&P doubts resolve over bank rescues 10 April 2019 4:21PM All Ian Rogers There is still "no clear framework for loss absorption" during a wind-up or resolution of a failing bank, S&P says. Though APRA have said there will be no statutory bail-in power at all, this is a.. read more
P2P too sensitive for some ADIs 27 March 2019 5:28PM Consumer lending Ian Rogers The credit union and mutual bank love affair with SocietyOne and other marketplace lenders has drawn a stern caution from APRA.S&P, on the other hand, find virtue in diversifying risk in the secto.. read more
SWIFT toasts 50m NPP buddies 23 October 2018 5:19PM Payments, mobile & wallets Banking Day staff Paul Lahiff, the chair of NPP Australia is leaving for a new job in banking, and celebrating - at Sibos - scrappy data on the take-up of PayID's and the number and value of Osko payments. read more
Cornered Australian finance sector faces Hayne salvo 01 October 2018 3:43PM Finance regulation Ian Rogers Asking the right questions but rarely answering them, Kenneth Hayne's interim report for his royal commission is a blend of populist scorn for, mixed with a sturdy defence of, a rattled banking indust.. read more
Trail commissions doomed 04 August 2018 1:29AM Latest news Ian Rogers Trail commissions "should be banned" but upfront commissions will survive, and these reforms "must be implemented by all lenders without further delay," an aggravated Productivity Commission demands. read more
Flop Morrison dodges his duty 04 August 2018 1:17AM Latest news Ian Rogers Obliged by convention to spruik a defiantly reformist report on the finance industry from the Productivity Commission at a business lunch today, treasurer Scott Morrison ignored the most compelling.. read more
The crunch hitting hard 14 May 2018 3:36PM Property prices Banking Day staff It's going to be massive, the pain in banking. The credit crunch is breaking for crisis.Housing prices are turning toward freefall, with discounting the only real option for vendors in a market now at.. read more
Australia's fintech sectors take of 22 September 2017 4:57PM Major Banks Bernard Kellerman A report by research teams from Cambridge Centre for Alternative Finance, the Tsinghua University Graduate School at Shenzhen and the Australian Centre for Financial Studies at Monash Business Scho.. read more
Foreign news: China's largest P2P lender to wind down 28 July 2017 4:16PM Foreign news Banking Day staff China's largest peer-to-peer (P2P) lending platform — Hongling Capital — plans to get out of the online lending business within three years, citing a poor track record of people repaying loans. read more
ASIC worries collections and lending won't mix for marketplace lenders 05 June 2017 4:28PM Finance regulation John Kavanagh The corporate watchdog has highlighted conflicts of interest in the marketplace lending industry that may need to be managed better.The Australian Securities and Investments Commission on Friday relea.. read more
Prospa steps up in business finance 15 May 2017 3:52PM Business lending Ian Rogers Business lender Prospa is racking up milestones, with the outfit set to soon surpass A$350 million in loan originations, joint CEO Beau Bertoli said on Friday. read more
Australian shadow banks in global eye 26 April 2017 3:33PM Finance regulation Ian Rogers Shadow banking entities in Australia "deserve particular attention", an assessment by Canada's Global Risk Institute has concluded. read more
Big banks troubled by data sharing 20 March 2017 4:59PM Major Banks Bernard Kellerman Peer-to-peer lenders' lower cost structure and rapid decision-making on loans is just one of several emerging threats for the banking sector to deal with, according to Pete Steel, CBA's executive gene.. read more
Agency risk elevated in P2P sector 20 March 2017 4:58PM Major Banks Bernard Kellerman Peer-to-peer lenders, claimed by their proponents to create agile businesses, carry their own set of financial and operational risks, an industry exec explains. read more
Elliott flirts with ANZ reset 28 February 2017 5:13PM Major Banks Bernard Kellerman Shayne Elliott, ANZ's chief executive officer, has been executing a strategy to simplify the banking group's business over the past year or so. Now he has floated the concept that ANZ could become "a.. read more
SME fintech lender Prospa in $25m venture capital funding deal 23 February 2017 5:16PM Major Banks Bernard Kellerman Online leader Prospa has landed what it claims is the largest fintech venture capital investment to date in Australia. read more
Harmoney lands in Brisbane 20 February 2017 5:17PM Major Banks Ian Rogers Harmoney, New Zealand's largest peer to peer lender, has finally crossed the Tasman, bringing with it A$200 million to lend. read more
ADVERT: AltFi Australasia Summit 2017 - Disrupting the Lending Ecosystem 06 February 2017 4:29PM Events Banking Day staff Hear from global experts and access exceptional business development opportunities as you develop your knowledge of the world of Alternative Finance read more