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Economy

Non-major bank scraps account keeping fees
10 March 2020
Suncorp

Suncorp Bank has announced it is removing all account keeping fees for its personal and business transition deposit customers, claiming it is the first of the major and regional banks to do ...

Major bank savers face rate cuts
10 March 2020
CBA

The Commonwealth Bank of Australia (CBA) has announced it has slashed interest rates on some of its savings accounts as it seeks to recoup some of the costs from cuts to the cash rate.

Banks playing "catch-up" on data
10 March 2020
Data

Incumbent banks need to leverage data technology to improve product innovations and stay ahead of upstart challengers, according to enterprise data company Cloudera.

Auction volumes fall, clearances hold
10 March 2020
mortgagebusiness

The number of auctions held across the country fell week-on-week, however clearances have continued to hold above 70 per cent.

LATEST PODCAST: Coronavirus derails market sentiment
9 March 2020
LATEST PODCAST: Coronavirus derails market sentiment

The Mortgage Business Uncut podcast is your weekly analysis of the biggest themes shaping the Australian mortgages market.

Government urged to hit pause button on banking reform
9 March 2020
Michael Lawrence

COBA has called on policymakers to reconsider the timing of the incoming wave of regulatory reforms, as smaller lenders battle to maintain profitability in a record-low interest rate ...

SMEs burdened by lengthy wait for payments
9 March 2020
SMEs burdened by lengthy wait for payments

The average SME waits 56 days to receive payment for good and services, almost double what the ombudsman has called for, new research suggests.

AMP and MyState join rate cutting frenzy
6 March 2020
AMP and MyState Bank

The non-majors have joined their peers in repricing their mortgage offerings following the Reserve Bank’s cut to the cash rate.

Virgin partners with Deloitte, Temenos to build ‘new digital bank’
6 March 2020
mortgagebusiness

The non-major has entered into partnerships with the firms as part of its “transformation” into a “digital challenger bank”.

Fed pulls emergency lever amid coronavirus fears
5 March 2020
The US Federal Reserve

The US central bank has cut rates by 50 bps ahead of its scheduled monetary policy board meeting in response to escalating economic fears regarding the coronavirus outbreak.