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Commonwealth Bank has completed the first phase of a trial of PayTo, a new service that allows a payer to authorise third parties to make payments on their behalf. read more

Eight out of ten older Australians are using internet banking services but a much smaller number use mobile banking, new research has found. read more

Consumer lender Harmoney has announced plans to delist from the New Zealand stock exchange, and consolidate its listing on the ASX. read more

Tyro Payments has rejected an opportunistic A$1.27 a share bid for the company from a private equity consortium, arguing that the proposal “significantly undervalues” the company. read more

Only a quarter of respondents to a financial literacy survey were able to correctly answer all five questions, which covered interest rates, inflation, diversification, risk and the time value of mone.. read more

Clinch Finance is concentrating on the market for bridging loans for home buyers – a part of the mortgage market it believes is under-served. read more

The value of new housing finance commitments has fallen 14.8 per cent from its peak in January this year but is still well above pre-pandemic levels. read more

APRA has removed a liquidity overlay imposed on Westpac two years ago, when it found the bank had breached its prudential liquidity standard, saying in a statement yesterday that the bank has complete.. read more

The CEO of receivables management specialist Credit Clear believes there has been a permanent structural change in the debt purchasing and collections market which will have a lasting impact on how bu.. read more

Mortgage broker and aggregator Yellow Brick Road has cut the net present value of its trail commissions to reflect “abnormally high” levels of refinancing and loan repayments in the mortgage market.  read more