National Australia Bank's A$50 million innovation fund, NAB Ventures, has appointed Todd Forest as its first managing director. Forest was previously the CEO of Clipp, a mobile payments and data start-up aimed at the hospitality industry. His prior roles have included heading up MSN Asia Pacific and executive roles at AOL Time Warner and Nike in the US. NAB Ventures has also hired Melissa Widner as general partner, and retained Bill Bartee, founder of Black Bird venture capital, to provide expert advice on management of the fund and specific investment opportunities. Widner is the co-founder of Heads Over Heels, an organisation supporting high growth companies led by women. Global fintech business KYCkr will meet investors for a proposed initial public offering later this month, and list before 30 June, the AFR's Street Talk reports. The firm has hired Foster Stockbroking to handle a proposed A$8 million IPO, implying a market capitalisation of $28 million. The KYCkr suite of 'know your customer' products give payments companies such as PayPal and Swift gain greater visibility over their customer books, in compliance with anti-money laundering and counter terrorism financing legislation. More owner-occupiers are refinancing their mortgages than purchasing properties across Australia, according to mortgage broker Aussie Home Loans. The data for the financial year 2016 to date shows 28.5 per cent of home loans are now refinanced by "We haven't seen refinance outpace purchase like this for over four years," said James Symond, chief executive of Aussie. He added that Aussie continues to post a record number of settlements across the board, with customer enquiries now at the highest levels in the mortgage broker's 24-year history. ANZ Bank deputy chief executive Graham Hodges appeared before a parliamentary inquiry into impaired loans yesterday, where he defended the silence of current and former ANZ c-suite colleagues who have been board members of AmBank. ANZ owns 24 per cent of the Malaysian bank, which currently is embroiled in a corruption scandal centred on Prime Minister Najib Razak, who had A$1 billion passing through his accounts in recent years. In addition, AmBank's chief financial officer and chief risk officer are former ANZ executives, the AFR reports. Hodges was closely questioned over the purchase of the loan book of rural lender Landmark in 2010 for approximately $2.2 billion, and the bank's alleged poor treatment of agribusiness borrowers. In its monthly Global Structured Finance Collateral Performance Review, Moody's Investors Service says it expects delinquencies for Australian auto loan ABS and prime RMBS will continue to rise in 2016 on below-trend GDP growth, although overall delinquencies will remain at low levels. According to the Moody's report, Australian loan delinquencies in excess of 30 days rose to 1.53 per cent in January 2016 from 1.30 per cent in December 2015 and 1.09 per cent in January 2015. At the same time, Australian prime RMBS delinquencies in excess of 30 days rose to 1.37 per cent in January 2016 from 1.30 per cent in December 2015 and 1.28 per cent in