Professional services (311 items)

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China's shadow banking industry in need of reform

Andrew Cornell, managing editor at BlueNotes reviews Shadow Banking in China: An Opportunity for Financial Reform, by Andrew Sheng and Ng Chow Soon from the Fung Global Institute. read more

McMillan Shakespeare's vehicle finance acquisitions make a contribution

Retail finance activities made a significant contribution to the earnings of the remuneration services and fleet leasing specialist McMillan Shakespeare, as the company started to enjoy a strong revenue flow from recent acquisitions in the finance market. Now the company says it is ready to expand its retail finance activities beyond vehicles. read more

Retailers back banks' Apple application

Australian retailers have backed the banks' application to negotiate collectively with Apple over access to its mobile payments technology, reminding the Australian Competition Commission that it has made a big investment in NFC technology, which it wants to keep open and inclusive. read more

US dashes to close EMV vulnerability

The languid pace of the penetration of the US magnetic card user base by EMV cards is highlighted in a new Nilson Report study, and the slow pace of uptake to date may be why Apple Pay has missed its chance at early traction in a mass market lacking user coaching on the use and merit of NFC payments, via chip cards. read more

Briefs: Santander closes up shop in Australia, Greater Bank to issue 3-year bonds, Rabobank CBA hires a robot for $300k

Spanish banking major Banco Santander SA is exiting the Australian market, not long after the bank opened its first branch in Australia in 2012 in a bid to increase its presence in the Asia-Pacific region. read more

MyState in small-time rip and replace program

The full year profit announcement from diversified financial services group, MyState, for 2015/16, confirmed that it would be introducing new internet and mobile platforms "later in the year" and "longer term, the transition to a single core banking platform with a single data centre location will also improve performance and risk management." read more

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