Economy

A digital “neobank” is intent on challenging Australia’s “entrenched major banks” after securing a restricted banking licence from the prudential regulator.  

The budget deficit of the Commonwealth government is expected to narrow by 64 per cent before returning to surplus for the first time in over 10 years.

The major bank is committed to “rebuilding community trust” through the implementation of its responsible banking initiatives.

Bill Shorten's Labor opposition has launched what it has dubbed the “biggest national housing program since the Second World War”.

The federal government has committed to injecting the ACCC with an additional $35 million in funding, designed to enhance its oversight of anti-competitive behaviour.

The financial services regulator has issued a warning regarding a scam that impersonates ASIC and calls on members of the public to submit a form of identification or proof of address.

A major broking franchise has revised its revenue forecast for the 2019 financial year as a result of an expected 10 per cent fall in home loan settlements.  

The CEO of a marketplace lender has suggested that while comprehensive credit reporting will benefit the finance industry, it will likely impact mortgage processing the “least”.

The major bank has confirmed it has been appointed as one of two providers of core-banking services for the NSW government.

The group executive of a big four bank’s Australian division has resigned from his role.