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Westpac’s multi-year project to fix its risk governance, the CORE program, has run into some “scheduling uncertainty, risk of disruption and quality issues” as a result of changes to the bank’s organi.. read more

Foreign exchange company OFX has bounced back from the COVID-related problems that hit its bottom line in 2020/21, reporting solid growth in turnover and income, and a doubling of profit in the year t.. read more

Buy now pay later company Sezzle suffered another blow-out in the March quarter, with its losses growing three-fold compared with the previous corresponding period. read more

Commonwealth Bank’s new digital home loan, Unloan, will play a key role in persuading home loan borrowers who took out a fixed rate loan with CBA to stay with the bank when they roll over to a variabl.. read more

The Australian Securities and Investments Commission says it will have a stronger focus on the management of cybersecurity risks, following a Federal Court ruling last week that a company’s inadequate.. read more

Commonwealth Bank achieved good volume growth in home and business lending during the March quarter but net interest income was down, as margin compression from higher swap rates and price competition.. read more

The big banks detailed a growing list of investments in fintech start-ups in their half-year financial reports, demonstrating a greater interest in taking stakes in businesses that give them access to.. read more

Mortgage lender firstmac has priced a A$1.1 billion issue of prime residential mortgage-backed securities, paying a margin of 120 basis points over the bank bill swap rate on the senior notes. read more

The risk of credit default, as inflation and interest rates rise, is highest among borrowers who refinanced recently, especially if they are under 35, according to new research. read more

Banks are close to half-way to meeting an APRA directive to reduce their Committed Liquidity Facility allocations to zero, which they must do by the end of the year. read more