Remittance Market

• Ian Rogers

In candid terms, Reserve Bank governor Philip Lowe has told parliament that “the banks are very scared of making mistakes on the AML front.” read more

• John Kavanagh

Western Union has upgraded its partnership with Australia Post, launching a digital transfer option to sit alongside the post office service that has operated for the past 17 years. read more

• John Kavanagh

Austrac has issued an alert to banks and their customers warning that a form of money laundering called “cuckoo smurfing” is becoming more prevalent, warning that and they need to be more diligent in.. read more

• Banking Day staff

Former Commonwealth Bank CEO Ian Narev has been appointed CEO of job vacancy website Seek, where he is currently the Chief Operating Officer. read more

• Banking Day staff

ANZ has announced a temporary waiver of its $7 international money transfer fee for online foreign currency payments made from Australia and New Zealand to ten Pacific countries. read more

• Banking Day staff

Fitch Ratings has affirmed Heartland Group’s and Heartland Bank’s long-term issuer default ratings at BBB and the long-term IDR of Heartland Australia at BBB-. read more

• Banking Day staff

CEFC has taken a $50 million cornerstone investment in Mirvac's new Australian Build-to-Rent Club, an institutional investment platform being opened up to home buyers and tenants. read more

• George Lekakis

Freelancer.com has secured regulatory approval to offer transaction services in Australian dollars through its global custodial payments arm. The ASX-listed company is already one of the leading inter.. read more

• Ian Rogers

Money Transfer service WorldRemit has launched a Singapore operation, hoping to grab a slice of the remittances of the thousands of migrant workers there. read more

• Bernard Kellerman

Research by banking market analysts East & Partners predicts cash payments across all Australian businesses will dip below five per cent by 2019 and then hit two per cent within the next five year.. read more

• Banking Day staff

Goldfields Money plans to push into the remittance sector, reaching an understanding with Singapore headquartered InstaRem. read more

• Banking Day staff

Google is to re-enter the now crowded P2P payments arena, reviving an app that lets users in the US send and receive money through Gmail. read more

• Bernard Kellerman

Australia's contribution to anti-money laundering and counter-terrorism financing - the Fintel Alliance - was given its official launch last Friday. Under its terms, Australia's financial intelli.. read more

• Banking Day staff

The Bank of China's Hong Kong business unit has agreed to buy its parent's branches in Indonesia and Cambodia for a combined HK$2.9 billion. read more

• Banking Day staff

A deal with virtual currency processor BitGo will be a big boost to Ripple's ambitions to extend its cross border funds transfer system. read more

• Banking Day staff

PayPal yesterday reported steady progress over the year to December 2016, with payment volume up 26 per cent. read more

• Ian Rogers

A new study predicts the global spend via mobile wallets, currently concentrated in the east Asia region, will rise by nearly 32 per cent this year to US$1.35 trillion. read more

• Banking Day staff

US money-transfer service MoneyGram International will be sold to Ant Financial. read more

• Banking Day staff

Western Union will pay out US$586 million after admitting to "aiding and abetting wire fraud". read more

• Bernard Kellerman

Non-bank foreign exchange and money transfer service World First has moved into a niche market, setting up 'receiving accounts' allowing smaller e-commerce players to receive sales proceeds in a local.. read more