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Alex, Australia s newest digital bank, goes live on The Temenos Banking Cloud to create a hyper-efficient cost structure and offer better value lending products and services to retail customers
Temenos technology simplifies Alex s loan application journey, facilitating 3-minute application times and the delivery of nearly 10,000 loans in the last six months
Temenos packaged banking services will enable the quick launch of Alex s savings business line so the bank can achieve rapid time to value and maximize growth and profitability
Temenos (SIX: TEMN), the banking software company, today announced that Australia s newest digital bank, Alex, has gone live on The Temenos Banking Cloud. Temenos technology powers Alex s launch as a licensed bank, following the acquisition of its Restricted-Authorized Deposit-Taking Institution (RADI) license from the Australian Prudential Regulation Authority (APRA) earlier this month.
The Australian Prudential Regulation Authority (APRA) has released the final revised Prudential Standard APS 111 Capital Adequacy: Measurement of Capital.
Australia s Newest Digital Bank Goes Live On Temenos To Champion Fairer, More Human Banking Experiences mondovisione.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondovisione.com Daily Mail and Mail on Sunday newspapers.
People power: The changing face of customer-owned lenders
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The mutuals have undergone a huge amount of change in the past year, with lenders merging, new tech being released, and brokers highly rating their experiences with them.
In December 2020, as Australia was closing off one of the most disruptive years on record, the Customer Owned Banking Association was holding its annual conference. It was here when the deputy chair of the Australian Prudential Regulation Authority (APRA), John Lonsdale, warned that change may need to come in the mutual bank space in order for the sector to survive.
Noting that the coronavirus pandemic had resulted in a (somewhat short-lived) economic downturn and increased the need for lenders to have a digital offering, Mr Lonsdale suggested that a large number of the small banks – and not only mutuals – have business models that were “challenged” in the current environment.
Australian regulator sees insurers braving economic downturn reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.