Latest news (24,887 items)

Global Technology counts on shareholders

Global Technology Australasia, a vendor of "core" banking systems, says that it has the support of its controlling shareholder, Global Technology Limited of South Africa, and that its notionally fragile cash position "is under no real pressure." read more

Canada makes slow shift to chip card

Canada's banks may be on verge of making the commitment to shift to chip cards but not within the timeframe for conversion set in many markets of 2005 and 2006. Card Technology reports that Canadian banks will make an announcement by the middle of the year on the timetable for the conversion from magnetic stripe cards to chip cards. There are 50 million credit cards, 34 million debit cards and 450,000 point of sale terminals in Canada. read more

Julia Corp burnt on smart card play

Its back to copper and gold mining for Perth-based Julia Corp, with the sale of its smart card business Smart Silicon Systems to Sydney-based vendor Card Access Systems. read more

Pioneer Permanent profit dives

The costs of seeking to expand in north Queensland and the drain of meeting the costs of mortgage brokers' commissions have eroded the profit of Mackay-based Pioneer Permanent Building Society in the half year to December 2002. read more

Broker commissions amortised

Pioneer changed its accounting policy in this half. Rather than expense the cost of up front commissions paid to mortgage brokers, the bank will now amortise the commissions paid to brokers over four years. read more

VFJ wins Honolulu cards contract

VFJ, the smart card systems arm listed Omnitech, has won a smart card contract in Honolulu, Hawaii as part of a consortium bid with Schlumberger and a local integrator, Rising Tide. read more

Citibank earnings rise 30 per cent

Citigroup told the AFR today that earnings at Citi's consumer bank in Australia grew 30 per cent in the period since Les Matheson joined as head of the consumer bank, in late 2001. read more

HSBC back in the black

HSBC Bank is back in the black in Australia, recording a profit before tax of $31.5 million in the year to December 2002, compared with a loss of $200,000 in 2001. read more

Home opts for deep discount

Home Building Society opted for a deep discount, and no underwriter, for its one for five rights issue to raise about $6.1 million. read more

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