News

01
Jul

Neobank 86 400 CEO: ‘banking is broken’

Neobank 86 400 CEO: ‘banking is broken’ The chief executive of one of Australia’s coming neobanks says it in the works months before a royal commission exposed flaws and corruption in the financial industry. “We didn’t need a royal commission to tell us banking was broken,” 86 400’s Robert Bell, a former ANZ executive, told […]

01
Jul

CBA forced to review data protections

CBA forced to review data protections Commonwealth Bank has been forced to review how it handles and stores customer data as part of its response to losing records for nearly 20 million accounts. CBA has entered into an enforceable undertaking with the Office of the Australian Information Commissioner to review and enhance internal privacy policies, […]

01
Jul

CBA hires new marketing executive from US

CBA hires new marketing executive from US Commonwealth Bank has split the responsibilities of its general counsel and corporate affairs role and hired Priscilla Sims Brown to the new position of marketing and corporate affairs executive. Chief executive Matt Comyn says the retirement of incumbent Anna Lenahan had given the bank the opportunity to review […]

27
Jun

Westpac customers targeted in cyber attack on PayID feature

Westpac customers targeted in cyber attack on PayID feature Westpac is under heavy scrutiny after a cyber attack exposed the banking details of 98,000 of its customers. The hack on the bank’s PayID feature was confirmed on Monday afternoon. PayID allows anyone to type in a phone number and search for the account registered under […]

26
Jun

CBA sees post-election mortgage surge

CBA sees post-election mortgage surge Commonwealth Bank chief executive Matt Comyn says the lender received more home loan applications in the week after the Coalition’s surprise election win than at any time in the past six months. Mr Comyn cautioned against reading too much into the uptick – which also followed APRA’s proposal to ease […]

25
Jun

Qudos welcomes Fed Court orders in IP case

Qudos welcomes Fed Court orders in IP case Qudos Bank has welcomed progress in its case against a software developer it believes infringed copyright and breached contract by reusing code from its online banking platform in another lender’s software. Justice Stephen Burley made orders in the Federal Court that Bangalore-based, New York-listed Infosys produce documents […]