Commonwealth Bank decided to impose a AU$3 fee for in-person cash withdrawals following the disclosure of the company's astounding AU$410 million in cash services expenditures for the fiscal year ending June 2024.
Shreyashi Chakraborty Dec 03, 2024
BioCatch Trust Australia will be used to assess whether customers of the Commonwealth Bank of Australia, National Australia Bank (NAB), ANZ Group Holdings, Westpac, and Suncorp Bank were legitimate or fraudulent.
Vidhya CK Nov 22, 2024
RBA governor Michele Bullock announced the central bank incurred a loss of AU$4.2 billion, during 2023-24, recording its fourth consecutive year of accounting losses. The bank suffered shortfalls of AU$6 billion in 2022-23, a record AU$36.7 billion in 2021-22, and AU$4.3 billion in 2020-21.
Vidhya CK Oct 25, 2024
The move follows Reserve Bank of Australia's (RBA) estimates that annual surcharges total around AU$1 billion per annum, with some estimates suggesting the figure could even touch the AU$4 billion mark.
Shreyashi Chakraborty Oct 15, 2024
Apart from St George, Westpac's other subsidiaries -- Bank of Melbourne and Bank SA -- were also affected by the blackout.
Shreyashi Chakraborty Oct 14, 2024
Investor and owner-occupier interest-only fixed rates have been slashed by up to 0.65 percentage points, while owner-occupier principal and interest fixed rates have been lowered by up to 0.50 percentage points.
Shreyashi Chakraborty Oct 08, 2024
One of the critical advancements in AI within fintech is its application in customer service. AI-powered chatbots and virtual assistants can now handle complex queries, enhance customer experience, and reduce operational costs.
Cornia Chui Jun 08, 2024
Since its establishment, Cars4Us has become a trusted destination for buyers and sellers alike, offering a wide selection of quality pre-owned vehicles backed by industry expertise and exceptional customer service.
Jon Stojan May 17, 2024
Payback specializes in assisting individuals all over the globe, and Australia in particular, in reclaiming their hard-earned money from deceptive schemes, providing a glimmer of hope in the face of financial devastation.
Jon Stojan Jan 11, 2024
Bitcoin is now steadily trading below US$4,000 and has been constantly on a downward ride over the last year, losing more than half of its market capitalisation.
IBT Staff Jan 03, 2019
A mysterious, anonymous entity known as “Satoshi Nakamoto” posted a white paper on October 31 2008 entitled “Bitcoin: A Peer-to-Peer Electronic Cash System”. It was the first time that the concept of Bitcoin entered the world.
IBT Staff Oct 31, 2018
Blockchains are considered appealing to most companies, especially those who deal with international transactions.
Anne Lu Oct 19, 2018
A recent World Bank report showed that Somalia has one of the most active mobile money markets in the world, outpacing most other countries in Africa.
IBT Staff Oct 15, 2018
The Commonwealth Bank of Australia will be refunding customers who were charged fees for no service.
Anne Lu Oct 09, 2018
The rollercoaster of cryptocurrency pricing is on the downward slope again. Bitcoin has fallen by a quarter in the past month, with other large currencies such as Ethereum and Ripple down more than 40%. So where does this latest bout of losses leave cryptocurrencies?
IBT Staff Aug 19, 2018
Recent research from economists at the United States Federal Reserve suggests this problem is not unique to Australia. If true, this supports the argument that larger financial institutions should be broken up or face more regulatory scrutiny.
IBT Staff Aug 16, 2018
There’s a common link between the many things that have promoted insecurity at work: the growth of franchising; labour hire; contracting out; spin-off firms; outsourcing; global supply chains; the gig economy; and so on. It’s money.
IBT Staff Aug 15, 2018
The fake banknotes are “quite distinctive” from the authentic ones.
Anne Lu Aug 10, 2018
The rapid price rise garnered attention from an increasing number of academics and investment advisers. Some have suggested that Bitcoin improves portfolio performance and can even be used as a potential “safe haven” asset in place of gold.
IBT Staff Jul 13, 2018
Unlike in markets for other assets such as stocks or bonds, cryptocurrency makes it much harder to uncover price manipulation and fraud.
IBT Staff Jun 28, 2018
The penalty fee is still subject to court approval.
Anne Lu Jun 04, 2018
ANZ Group Treasurer Rick Moscati, the Deutsche Bank and Citigroup, plus a number of individuals, will also be charged.
Anne Lu Jun 01, 2018
Commonwealth Bank has admitted to losing historical financial statements of almost 20 million personal accounts in a 2016 incident and decided not to make it public
Anne Lu May 03, 2018
When cryptocurrencies boomed in recent years, companies have started to venture into crypto mining to get a larger share of the pie.
Anne Lu Apr 18, 2018
Philanthropy and social work have the main objective of making the world a better place, particularly for the disenfranchised sectors of the society.
Anne Lu Mar 22, 2018
These three companies took advantage of the opportunities to venture into the cryptocurrency and blockchain scene.
Anne Lu Mar 14, 2018
Cryptocurrency hedge funds had a banner year in 2017, and it looks like the industry will continue to grow in the next few months.
Anne Lu Feb 22, 2018
KODAKcoin may have kick-started a wave of new corporate coins and Global Blockchain Technologies (CSE: BLOC; OTC: BLKCF) hopes to benefit.
Anne Lu Feb 15, 2018
The new Australian $50 has been revealed. On Thursday, the Reserve Bank of Australia released the design of the new banknote.
Anne Lu Feb 15, 2018
Apple has effectively shut down Westpac’s mobile banking keyboard app. The Australian bank will remove its Westpac Keyboard function on iOS in July after the US-based tech giant pulled the plug on it.
Anne Lu Jun 27, 2017
