ANZ cut its savings account rates yesterday – the last of the big banks to adjust deposit rates in response to the Reserve Bank’s cash rate cut earlier this month. read more
Financial institutions / Big five & fintech (2,426 items)
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ANZ’s accident prone Kiwi banking subsidiary has been placed in a regulatory straight jacket by the Reserve Bank of New Zealand, with the bank ordered to appoint independent experts to evaluate its compliance record. read more
More than 10 per cent of 2017 UK payment card revenues “have been taken by new firms,” and fintechs may not have to mess about waiting for a banking licence to feast at the big banks’ club, with the new breed of non-banks soon to be granted the right to post deposits, or “reserves” with the central bank, at least in the UK. read more
Westpac has appointed the former head of wealth management at HSBC in Hong Kong to lead its reconstituted business division. read more