Suncorp pushes upfront commissions to 80 bps 08 October 2014 4:49PM Suncorp Bank set a new benchmark for upfront broker commissions last week, when it announced that it would pay 80 basis points. The new rate takes the form of a 15-point bonus on top of the regular ra.. read more
Pepper completes second non-conforming RMBS for the year 08 October 2014 4:48PM Pepper Australia has completed its second issue of non-conforming residential mortgage-backed securities for the year, raising A$400 million of funding to add to the $500 million it raised in April. read more
Westpac migrating retail customers to a new online platform 08 October 2014 4:47PM Westpac is in the midst of an online banking upgrade and has migrated 2.7 million customers to its new platform, Westpac Live, which is intended to provide a seamless integration of online, mobile and.. read more
Austrac proposes an overhaul of AML/CTF reporting obligations 08 October 2014 4:46PM Anti-money laundering and counter-terrorism financing regulator Austrac is proposing an overhaul of its reporting requirements, which would see fewer regulated entities required to file an annual comp.. read more
Sydney underperforming as a fintech centre 08 October 2014 4:45PM Sydney is underperforming as a "fintech" centre but has many of the required elements to be a successful hub for the development of technology for use in financial services, according to a KPMG report.. read more
Briefs: MyState Bank not a mutual bank, ALH pubs deploy Clipp 08 October 2014 4:44PM Correction: Yesterday's article about MyState Bank stated incorrectly that it was a mutual bank. The bank is not a mutual. A corrected version of the article can be found on the Banking Day website. read more
Mutual banking: MyState Financial rebrands as MyState Bank 07 October 2014 4:55PM Tasmanian authorised deposit-taking institution MyState Financial has converted to a mutual bank, changing its name to MyState Bank. One benefit of the change is that MyState will have bragging rights.. read more
Mutual banking: Regulations must recognise the success of mutual banks 07 October 2014 4:53PM The mutual bank initiative, launched in 2011, has been a success and now the government should build on that success by making conditions in the banking industry more competitive, according to the hea.. read more
New body offers support for victims of identity theft 07 October 2014 4:52PM Two banks are among the 15 companies involved in the establishment of iDcare - an Australasian identity theft support service. iDcare operates a support line and will guide consumers through the proce.. read more
Wages the biggest contributor to income growth 07 October 2014 4:50PM Australian household income grew by an average of 58 per cent in the years from 2003/04 to 2011/12, according to new Australian Bureau of Statistics data drawn from the National Accounts. read more