The Reserve Bank of New Zealand has revised its outsourcing policy for large banks, following a detailed review by the central bank. read more
Financial institutions / Big five & fintech (1,526 items)
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Political pressure is mounting on the federal government to address APRA's negative impact on competition in the banking sector, with influential cross-bench senator Nick Xenophon promising to introduce legislation next year that would reconfigure the way the prudential regulator operates. read more
A fresh snapshot on access to and use of many basic financial services gives an unflattering view of the Australian banking sector."Almost one in three adults (31.6 per cent) had no savings," analysis by Centre for Social Impact at the University of New South Wales concluded. National Australia Bank co-produced the report, which was released on Friday.The "unbanked" ratio, though, is low at 2.7 per cent. read more
Respondents to the Westpac/Melbourne Institute survey of consumer confidence picked the bank as the best place for savings – and the number saying it is wisest to put new savings into real estate dropped to a four-decade low. read more