Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
The open banking regime officially began yesterday with the four major banks offering data on a variety of products as part of the regime’s roll-out, via InvestorDaily. The four major banks had a deadline of 1 July to make product data available on all credit and debit card, deposit and transaction accounts with more products … Continue reading “Open banking officially launches”
Facebook released their while paper , and it poses a threat to current payment systems. The 29-page paper describes a protocol designed to evolve as it powers a new global currency. “The Libra Blockchain is a decentralized, programmable database designed to support a low-volatility cryptocurrency that will have the ability to serve as an efficient … Continue reading “Facebook’s Libra Could Be Revolutionary”
The founder and the executive team of online mortgage marketplace HashChing have all left the company, with a new interim CEO taking the helm, via The Adviser. The founder and CEO of HashChing, Mandeep Sodhi, along with the key members of the executive team – including chief operating officer Siobhan Hayden and chief technology officer … Continue reading “HashChing executive team departs, new CEO steps in”
On 6 June, JPMorgan Chase & Co. announced that it would shut down Finn, its digital consumer banking brand focused on attracting younger customers, via Moody’s. At first glance, some might consider the decision to shut down the offering as a setback, however it also demonstrates JPM’s superior ability compared to many peers to experiment … Continue reading “JPMorgan’s digital banking “failure” is credit positive”
The latest amendments passed into law last week extends the capital raising capabilities of mutuls in Australia, via mutual capital instruments (MCIs), which Moody’s rates as “credit positive”. However, we are concerned by the extension of “financialisation” into the mutual sector, the potential higher risks it introduces as players compete for returns to investors, and … Continue reading “Mutuals Can Now Join The Capital Raising Dance – But What Of The Risks?”
Consistent with our thesis that the big tech players are well positioned to disrupt the finance sector, Apple has moved further into financial services with the launch of a new credit card for its iPhone users, at its event today. Users will be able this facility anywhere that Apple Pay is accepted. The new credit … Continue reading “Apple launches credit card”
According to Moody’s, on 11 January, the Canadian government published a consultation paper on its previously announced open banking initiative to foster competition within its banking industry. The initiative will provide policy recommendations on how best to allow retail bank customers to share their financial transaction data with fintechs and other financial services providers such … Continue reading “Major Canadian Banks To “Open” Their Banking”
IT Wire reports that New Zealand cryptocurrency exchange Cryptopia has suffered a breach and its operations have been locked down, with police saying that they are not yet in a position to indicate the quantum of the theft. The company said in a notice on its site that there had been “significant losses” but went … Continue reading “NZ cryptocurrency exchange loses ‘significant’ funds in breach”
RBA Governor Philip Lowe Governor spoke on “A Journey Towards a Near Cashless Payments System”. He suggests a turning point has been reached. It is now easier than it has been to conceive of a world in which banknotes are used for relatively few payments; that cash becomes a niche payment instrument. This morning … Continue reading “A Journey Towards a Near Cashless Payments System – RBA”
Australian fintech Tic:Toc – the world’s only fully digital home loan platform – has announced Bendigo Bank will use Tic:Toc’s proprietary technology to power its own instant home loan, Bendigo Bank Express. The white label partnership will allow Bendigo Bank to be the first Australian lender offering a digital home loan application and assessment process … Continue reading “Bendigo Bank To Use Tic:Toc’s Proprietary Technology to Power its Own Instant Home Loan”