Lender

Neo-lender Volt Bank is handing back customer deposits and will exit the banking industry, it has been revealed.

The group has confirmed that it is currently reviewing “strategic alternatives” for its banking operations, following media reports that it is considering a sale.

AMP Limited has confirmed that Andrew Best has been appointed to its board, with his tenure commencing from next month.

Non-bank lender Wave Money has welcomed David Jeffery to the role as senior lending specialist.

Customer-owned banking institutions will need to apply more stringent measures to ensure vulnerable customers are identified and supported. 

Open banking and the consumer data right have been in effect in Australia for years, but only starting to feed through into mortgages now. We find out how the new regime will impact ...

More healthcare professionals will qualify for Westpac’s Lenders Mortgage Insurance Waiver, following an expansion to its policy.

Nearly 58 per cent of loans funded by banks are originated by the third-party channel, according to APRA statistics.

Banks will need to include buy now, pay later and higher education debts when reporting debt-to-income ratios to the regulator from September, APRA has said.

While supply chain issues and insolvency risks have eaten away at banks’ appetites for construction lending, non-bank lenders are expected to fill the gap.