Economy

Purchasing property is one of the top two savings goals for younger Australians, but a lack of financial knowledge is impeding them from entering the market, according to research.

The majority of Australian businesses intend to invest in analytics to automate decision making around credit over the next 12 months, according to a report.

Housing affordability pressures have intensified for first home buyers in five of Australia’s major capitals, who now require more time to save for a 20 per cent deposit, according to new ...

ASIC has directed fund managers to do more to remain “true to label” after finding that funds labelled as cash had assets other than cash such as mortgages and fixed income securities.

A spike in credit provisions and COVID-related charges has triggered a 16 per cent fall in Heritage Bank’s earnings, offset by asset and deposit growth.

The central bank has left the door open to further reductions to the cash rate but has maintained its stance on negative interest rates.

The founder and director of a commercial lender has issued a warning over the growing phenomenon of “sleeper risk” loan applicants arising from COVID-19.

The neobank has partnered with Microsoft to develop a banking as a service platform, due to be released in 2021.

The auction market has recorded its highest combined capital city preliminary clearance rate since March, despite record-low auction volumes in Melbourne, according to data.

Fintech lender Lumi has announced plans to raise $20 million in capital to expand its team and market share over the next 12 months.