Chris Jewell

Calls for ASIC levy reduction The FAAA continues to push for a reduction in the ASIC levy and is also demanding more transparency regarding how the regulator determines its costs, saying "this amount remains much too high for a shrinking small business financial advice sector." >> https://buff.ly/4d08ShW Financial Advice Association Australia (FAAA) #riskinfo #financialnews #financialadvisers #smallbusiness

3

“Open banking unlocks a future where financial empowerment is for all New Zealanders. Knowing facts about your money should be as simple as knowing the time, and the CDR will enable the innovation to make this a reality.” Last week, Open Finance ANZ launched the first edition of their Aotearoa New Zealand Open Banking Ecosystem Map and our very own Jason Leong contributed insight as a veteran player in the space on all the ways people in New Zealand can securely share their financial data. The report highlights what’s happening now and how things are shifting towards using standardised systems as new rules come into play. It shows that open banking in New Zealand is evolving at its own pace, prioritising innovation, collaboration, and consumer empowerment - it is a system that reflects Kiwi values while looking ahead to align with global trends. It’s an encouraging report, and one of many fantastic outcomes from the continual cross-industry collaborative efforts. Thanks for all of your work on this Open Finance ANZ, Mastercard Open Banking, Payments NZ, FinTechNZ, FinTech Australia, Jennifer Harrison, Brenton Charnley, Josh Daniell and everyone else who had a hand in putting this together! You can read the report here ⬇️ #openbanking https://lnkd.in/gudyds5D

12

1 Comment

As Dwayne Jones, an experienced treasury specialist at Bancorp Group, has noted in this excellent summary, the global financial landscape is in flux, with central banks worldwide making strategic moves that reverberate across economies. #financialmarket #marketupdate #economy #nzbusiness #nzmarket #wednesdaywisdom https://lnkd.in/ed8gQKGx

2

1 Comment

The Depository Trust & Clearing Corporation (DTCC)’s Data Services now offers Corporate Fixed Income Premium Intraday Reference Data to increase operational efficiency #australianfintech #usfintech #fintech #fintechnews #finance #technology #financialtechnology #data #dataservices #fixedincome

3

Westpac New Zealand has reached a significant milestone, confirming its operational readiness to collaborate with approved third parties on delivering open banking solutions to improve New Zealanders’ banking experiences. The bank has made Payments NZ’s API Centre Payment Initiation v2.1 API Standard available for third parties to connect to. Russell Jones, Westpac NZ chief information officer, stressed the bank’s dedication to open banking. https://lnkd.in/gX2C3waF #openbanking #APIs #payments #banking #bankingtechnology #NewZealand #NZAdviser #advisernews

22

Change Financial provides positive trading update on the rollout of its Vertexon PaaS platform in Australia, New Zealand and the USA. #fintech #fintechnews #finance #financialtechnology #payments #digitalpayments #PaaS #australianfintech #usfintech #nzfintech

9

"AI and automation offer the key to unlocking the full potential of Australian investors’ private markets portfolios." 🔑   Franck Vialaron, CEO of Accelex, penned an in-depth think piece for Australian FinTech on the recent boom in Australia's private markets and how technology can transform the landscape by enhancing scale, improving data quality, and supporting smarter investment decisions. 💡   As private markets continue to grow globally, embracing technology isn’t just an option—it’s essential. Successfully managing the increasing volumes of data will be critical for staying competitive.    Read the full article here: https://lnkd.in/eUeCEcPF #Fintech #PrivateMarkets #GenAI #Superannuation

4

1 Comment

BGL Corporate Solutions has integrated with Skript for #openbanking connections from Simple Fund 360 and Simple Invest 360 to secure, seamless bank data from all Australian banks, delivering improved efficiency and accuracy. Eric Tsang, CEO and Co-founder of Skript, said: “Skript’s partnership with BGL will transform the landscape of bank data feeds for SMSFs and investment portfolios and give Australian businesses and consumers enhanced security and better quality data.” Jeevan Tokhi, General Manager of Product – Simple Fund 360, Simple Invest 360 and SmartDocs at BGL, said: “The integration between BGL and Skript will collect data from all Australian banks for transaction accounts, term deposits, loans and credit cards and feed it into Simple Fund 360 and Simple Invest 360. All banks will provide historical data and include open and closed accounts. The setup is rapid, taking less than two minutes”. This is a significant leap forward in managing financial data as BGL has not previously been able to deliver the capability of automated bank feeds from every Australian bank. Ron Lesh FCA Daniel Tramontana Sarah Wallis #fintech #openfinance #opendata #SMSF #investmentmanagement #accountingsolutions

10

The Reserve Bank of Australia recently released a report stating they are only aware of one payment service provider (PSP) that is currently offering a truly dynamic Least-Cost Routing (LCR) solution 💡 This dynamic approach evaluates and routes each individual transaction to the lowest-cost network, ensuring merchants save on transaction fees 💰unlike the simple or threshold-based models used by most PSPs, which could limit potential savings 😐 It’s exciting to see innovation in the payment space, and for merchants looking to optimise costs, a dynamic LCR solution could be a game changer ⚡ If you want to know more about DLCR - Say hello 👋 at https://ipsi.com.au/ #fintech #payments #merchantsolutions

19

1 Comment

⚠️ #FXDD Customers Unable to Withdraw Funds  Investors are reporting that FXDD may have absconded with funds. Some have tried to withdraw but get an "internal server error" and can't reach FXDD's customer support. Details: https://lnkd.in/g8bFRqMc The issue has been reported to FXDD, but there's been no response yet. FxGecko data shows that in May, there were already complaints about withdrawal issues. Investors should be cautious. Before trading, use the FxGecko app to check brokers. File a complaint if you encounter issues. #fx #forex #trading #investing #broker #financial #markets #forextrading #investment #forexbroker #InvestmentRisks #TradingRisk

1

BREAKING NEWS: The Reserve Bank of New Zealand (RBNZ) has activated it Debt-to-Income (DTI) restrictions and the loosening of Loan-to-Value Ratio (LVR) restrictions at the settings it announced earlier in the year. The new DTI restrictions will create limits on the amount of high-DTI lending that banks can make whereas the LVR restrictions limit the amount of low-deposit lending that they can make. Deputy Governor Christian Hawkesby said DTIs and LVRs are “complementary”. “LVRs target the impact of defaults by reducing the number of potential losses in the event of a housing down-turn,” Hawkesby said. “While DTIs reduce the probability of default by targeting the ability of borrowers to continue to repay debt.” “Both act as guardrails reducing the build-up of high-risk lending in the system.” https://lnkd.in/giRAjCQT #LVR #DTI #RegulatoryChanges #mortgagemarketNZ #lendingNZ #NZAdviser #advisernews #bankingnews

27

Next week could be very interesting! David Adams at Smart Company reports Australia’s big four banks will face parliamentary scrutiny on #Payments, with both Labor and Coalition lawmakers set to demand answers about the card payment fees levelled on small businesses and their customers, adding to the cost of living. https://lnkd.in/gQAhrMQ7 Jerome Laxale MP labelled those fees a “rort”: “I just want to make it very clear that, as a former small-business owner, I do not begrudge any small business for passing on these exorbitant fees.” Deputy chair of the Standing Committee on Economics Garth Hamilton said least-cost routing — the ability for merchants to automatically channel tap-and-go debit payments through the eftpos system, rather than the more expensive Visa, Mastercard, and American Express systems — remains a topic of great interest. Independent Payments Forum said: “We can’t afford to drop the ball on fixing the fundamentals of cards fees by getting sidetracked with industry ‘blue sky’ distractions and Kool-Aid drinking." Instead, lawmakers should first consider issues like the sweetheart deals big supermarkets. Brad Kelly Gabby Taylor Russell Zimmerman Peter Drennan Australasian Convenience and Petroleum Marketers Association (ACAPMA) AACS (Australian Association of Convenience Stores) Council of Small Business Organisations Australia (COSBOA) Luke Achterstraat Matthew Addison Mark McKenzie (BEng,MBA,GAICD) Theo Foukkare Wes Lambert CPA, FGIA, CAE, MAICD Ellis Connolly Jerome Laxale MP Reserve Bank of Australia #CostOfLiving #Payments #LeastCostRouting #SmallBusiness

11

Acquisition News: DASH Technology Group to acquire ‘whole-of-wealth’ Integrated Portfolio Solutions platform #australianfintech #fintech #fintechnews #finance #financialtechnology #technology #tech #technews #acquisition #wealth #WealthManagement #financialplanning

68

Acquisition News: DASH Technology Group to acquire ‘whole-of-wealth’ Integrated Portfolio Solutions platform #australianfintech #fintech #fintechnews #finance #financialtechnology #technology #tech #technews #acquisition #wealth #WealthManagement #financialplanning

3

Banked : has teamed up with National Australia Bank (NAB) to accelerate the adoption of Pay by Bank technology in Australia. Together, we aim to redefine the landscape of digital payments by providing merchants with advanced, account-to-account payment solutions. Brad Goodall, CEO of Banked, said: "The A2A payments industry in Australia is ripe for innovation. By collaborating with NAB, we are set to enhance and accelerate the availability of Pay by Bank options. This is a big step forward in offering more choice and control for Australian businesses and consumers." Explore the full extent of this partnership and what it means for the future of payments in Australia: https://lnkd.in/dDyUKXyE #DigitalPayments #A2A #PaybyBank #Fintech

221

4 Comments

The Depository Trust & Clearing Corporation (DTCC) and Cboe Clear Europe to introduce new clearing workflow for OTC cash equities trades #usfintech #fintechusa #australianfintech #fintech #fintechnews #finance #financialtechnology #trading #OTC #cash #equities #equitytrading

1

In a move to enhance access to foreign exchange markets, Adminis has signed an API agreement with Bank of New Zealand—the first bank in New Zealand to offer an FX dealing API.   From our CEO Matan Gan-El, "We are excited to work with BNZ to bring this innovative solution to our platform. [...] This agreement will enable our clients to streamline their foreign exchange transactions, optimise risk management, and make more informed decisions when investing and rebalancing their portfolios.” #SimplifyingFinancialServices

67

2 Comments