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Economy

Banks will continue to buy distribution

The acquisition of mortgage aggregators and originators is set to continue as financial services companies look to retain customers and grow revenue, according to a financial services lawyer

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ING DIRECT joins private cloud

ING DIRECT is the first bank in Australia to successfully transfer its infrastructure and systems to a private cloud.

mortgagebusiness
Market will strengthen in 2014

When I open the papers, I am often confronted by an overwhelming feeling of negativity.

Leteisha Pileggi, Money Survey, Australia, Australian property, property market, Western Australia
Majors’ market share pushes past 84pc

The big four's combined share of the Australian residential mortgage market has jumped to 84.5 per cent in April, according to APRA data.

mortgagebusiness
Market headed for credit roller-coaster ride

A sharp rise in interest rates would put bank debt levels in the danger zone and could risk the stability of lenders, the latest PwC banking survey has found.

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Virgin Money fined for misleading advertising

Virgin Money (Australia) Pty Limited has paid $30,600 in penalties after ASIC issued three infringement notices for misleading online and television advertising.

mortgagebusiness
Risk books a cash cow for businesses

Insurance books are attracting higher multiples than financial planning client books or loan books as brokers and advisers converge via acquisition.

mortgagebusiness
Big bonuses keep us competitive, says Barclays

Barclays insists the bank must pay more to prevent staff being poached by competitors despite a revolt by the bank’s largest shareholders against bigger bonuses.

mortgagebusiness
Banksia AFSL cancelled by ASIC

ASIC has cancelled Banksia Mortgages Limited's Australian financial services (AFS) licence.

mortgagebusiness
UK macroprudential tools 'untested': Standard Life

As the UK economy continues to gain strength, Standard Life Investments has warned the central bank against relying too heavily on the macroprudential channel.

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