Published: Jun 9, 2021
As new core functionality within banking apps shifts to third-party integrations, what does this mean for banking customer loyalty when customers will prefer to engage a bank via an alternative platform that is more in-touch with their day-to-day living?
Be it day-to-day banking interactions or seeking new needs, ‘Open Banking’ and it’s journey to enable write access across non-bank ecosystems, supported by more intrinsically integrated overlay payment services via the New Payments Platform will make customers question, “Do I really need my bank app anymore to do my banking or fulfil a new financial goal?
In this two-part post, we explore how customers use of their banking apps will decrease and explore their desires to have transactional information injected into richer platforms that can be integrated into their daily activities.
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ANZ CEO says platforms and ecosystems will play a greater role in both wholesale and retail banking 27 May 2021
Source: ANZ One of the achievements I’m most pleased with is how we have simplified the bank, consistently delivering lower absolute costs, focusing on our key customers and cementing our capital base. We were ahead of our peers in much of this and it served us well during the pandemic. But our investors are rightly asking us about growth. Yes, we have built a robust foundation but how can we build on it?
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ANZ boss on growth, succession
ANZ is now the dominant player in the supply of financial plumbing services to local and international banks. Itâs part of a growth focus under CEO Shayne Elliott.
May 25, 2021 â 12.00am
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As Shayne Elliott approaches 5½ years in the chief executiveâs role at ANZ Banking Group, he is increasingly focused on growth opportunities as well as succession planning.
Elliott spent the bulk of his first five years in the job simplifying the bankâs operations, lowering its costs, lifting customer satisfaction (as measured by Net Promoter Score) and building ANZâs capital strength through disposal of non-core assets.
By Kate Weber on May 21, 2021 1:08PM
Looks to make code mandatory, define biometric authentication.
The Australian Securities and Investments Commission (ASIC) today released a consultation paper requesting feedback on planned updates to the ePayments Code.
The regulator is looking to update the ten-year-old code to ensure it remains effective within the growing and evolving payment landscape.
Formerly known as the Electronic Funds Transfer Code of Conduct (EFT Code), the ePayment Code helps regulate electronic payments services in Australia.
This is ASIC’s second consultation on the ePayments Code after its first 2019 review.
The voluntary code bounds participating financial services to provide transparency around terms and conditions and assists with consumer payment issues.