The top 10 most read articles on AB+F
Not surprisingly a number of articles were COVID-19 related but topics on digital banking, payments and neobank challenges also appealed to AB+F readers.
As a humble scribe, I often think big name hires and corporate failures/scandals would be the most popular reads, but as the following list reveals, articles that highlight opportunities and challenges for the industry are the most appealing – peppered with those hires too!
Finspo, a fintech that provides people with an aggregated view of their banking providers launched, headed by former National Australia Bank executive Angus Gilfillan.
At a time when the pandemic was unfolding, RFi Group data highlighted that mortgage stress has increased slightly in March while overpayment intention has declined.
Australian banks risk losing as much as 14 per cent or US$3 billion in five years’ time with the growth of digital payments and competition from new entrants and non-banks.
As banks intensified their efforts to onboard customers to digital banking, amid the health pandemic, an RFi Group report highlighted a number of consumer bugbears.
NAB CEO Ross McEwan announced a revamp to position the bank for a better future
The first consumer-to-business payment service developed by fintech Azupay finally went live on the New Payments Platform “Any initiative that harnesses the power of the NPP is interesting – and some might argue, overdue,” RFi Group managing director of Consulting Alex Boorman said at the time.
The year saw a number of neobanks shelve their plans for full product rollouts as COVID-19 unfolded. Three neobanks discussed the outlook while remaining positive at the RFi Group Australian Banking and Innovation Summit.
At an RFi Group event, Bendigo and Adelaide Bank CEO Marnie Baker and Dom Pym CEO of Up discussed their successful partnership and the importance of driving a viable business model.
Credit losses for Australian banks are expected to double in 2020 amid the corona virus pandemic, but the sector is still well positioned in comparison with international peers with current regulatory action another positive for the industry, according to two global ratings firms
Traditional AML systems and processes are not keeping up and AUSTRAC, along with other regulators, are urging cultural, structural and technological change.