Matthew Denham

New GoCardless 'Pursuing Payments' report shows anxious SMBs are grappling with late payments #australianfintech #fintech #fintechnews #finance #financialtechnology #technology #latepayments #payments #SmallBusiness

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We're operationally ready to work with approved third parties on delivering Open Banking solutions that will help improve New Zealanders’ banking experiences. As of today, we've made Payments NZ’s API Centre Payment Initiation v2.1 API Standard available for third parties to connect to. Westpac NZ Chief Information Officer Russell Jones says work continues across the bank to make open banking a success in the months and years to come. “We’re committed to the successful rollout and adoption of open banking, and we look forward to helping provide New Zealanders with more options for making payments and managing their money in a safe and secure way,” Mr Jones says. “Open banking has the potential to provide far-reaching opportunities for customers to manage their money in new ways, from plugging into budgeting tools to splitting the cost of a meal in a quick and easy fashion. “Consumer confidence is key to the successful uptake of open banking, and we continue to work with the industry on future API standards that are safe and secure, as well as providing a seamless and efficient partnering process with third parties that creates trust in the system. “We have entered into a number of partnerships with API providers to date, and are finalising details of our API agreements with these providers. We are also in discussions with a range of other providers regarding potential future partnerships.” For more on Open Banking see: https://lnkd.in/gK9RGCPp and for more on the API Centre Payment Initiation v2.1 API Standard see: https://lnkd.in/gQji5Muh Catherine McGrath Sarah Hearn Richard Dalby Joanne Freeman Dan Symons Ara Krishnaraj Marty Sellwood Steve Wiggins Max Bania Will Hine Sarah Wall Annabel Olsen (Cramer)

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Need cash flow for your business? Want to take advantage of EOFY deals? ATO debt crippling your budget? This week we’ve managed to get over $150k in business overdrafts for 2 clients with access to funds in less than 48 hours. 36 month Interst only terms - total control over spending - only pay interest on what you’ve used - converts to term loan after 3 years so debt can be repaid or restructured to another facility. Call us for fast access to business funding 1300 434 624

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𝐍𝐀𝐁'𝐬 𝐩𝐚𝐲𝐦𝐞𝐧𝐭 𝐚𝐥𝐞𝐫𝐭𝐬: $𝟏𝟎𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐬𝐚𝐯𝐞𝐝 𝐟𝐫𝐨𝐦 𝐬𝐜𝐚𝐦𝐬 | 𝐗𝐋 𝐜𝐨𝐦𝐦𝐞𝐧𝐭𝐚𝐫𝐢𝐞𝐬 𝑾𝒉𝒂𝒕'𝒔 𝒉𝒂𝒑𝒑𝒆𝒏𝒊𝒏𝒈? 🗡 𝗡𝗔𝗕'𝘀 𝗮𝗹𝗲𝗿𝘁𝘀 sent to customers when a payment seems out of the payer's character or when the payments raise scam concerns have resulted in customers abandoning more than $𝟭𝟬𝟬 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 in payments in the past 15 months, which could have been lost in scams or other fraudulent/unauthorised transactions. 🗡 The bank saw a 𝟭𝟬% 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗶𝗻 𝘀𝗰𝗮𝗺 𝗿𝗲𝗽𝗼𝗿𝘁𝘀 between Oct 2023 and Mar 2024, as compared to the same period a year before that, while a 𝟭𝟳% 𝗱𝗲𝗰𝗿𝗲𝗮𝘀𝗲 𝗶𝗻 𝗹𝗼𝘀𝘀𝗲𝘀 incurred. 🗡 The bank 𝗻𝗼 𝗹𝗼𝗻𝗴𝗲𝗿 𝗶𝗻𝗰𝗹𝘂𝗱𝗲𝘀 𝗮𝗻𝘆 𝗹𝗶𝗻𝗸𝘀 𝗶𝗻 𝘁𝗵𝗲 𝘁𝗲𝘅𝘁 𝗺𝗲𝘀𝘀𝗮𝗴𝗲𝘀 sent to its customers as an extra security measure. 𝑿𝑳 𝒄𝒐𝒎𝒎𝒆𝒏𝒕𝒂𝒓𝒊𝒆𝒔 🔔 The above shows some pretty 𝘀𝘁𝗿𝗼𝗻𝗴 𝗮𝗻𝗱 𝗲𝗻𝗰𝗼𝘂𝗿𝗮𝗴𝗶𝗻𝗴 𝘀𝘁𝗮𝘁𝗶𝘀𝘁𝗶𝗰𝘀, and that's from just one bank. 🔔 𝗦𝘆𝘀𝘁𝗲𝗺𝘀 𝗮𝗻𝗱 𝗰𝗼𝗻𝘁𝗿𝗼𝗹𝘀 𝗱𝗼 𝗻𝗼𝘁 𝗮𝗹𝘄𝗮𝘆𝘀 𝗵𝗮𝘃𝗲 𝘁𝗼 𝗯𝗲 𝗰𝗼𝗺𝗽𝗹𝗲𝘅 𝘁𝗼 𝘄𝗼𝗿𝗸. A simple measure of removing URLs from text messages has been effective to help prevent customers from clicking on any links in messages impersonating the bank. 🔔 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗽𝗿𝗼𝗳𝗶𝗹𝗶𝗻𝗴 𝗶𝘀 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁. Transaction monitoring is often about picking out the outlier transactions that do not make sense given what is already known about a customer. Without customer profiling the bank would not have been able to effectively manage its payment alerts.

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Superannuation is a crucial component of every working Australian’s life, but it’s frequently clouded by uncertainty and a dash of fear. Understanding how to manage your super investment options and determining how much you need for a comfortable retirement are pivotal steps towards securing your financial future. But fear not! This guide is tailored to shed light on these topics for young professionals, retirement planners, and the broader Australian populace aiming to retire comfortably by age 67. #SuperannuationSavings #RetirementPlanning #FinancialSecurity #InvestmentOptions #SuperannuationManagement #SuperBalance #RetirementGoals #FinancialLiteracy #SuperConsolidation #InvestmentStrategy #FuturePlanning #SuperReview #RetirementSecurity #FinancialAdvice #SuperannuationTips https://lnkd.in/dkhVz6r5

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NAB Ventures takes a stake in bank-backed global digital asset custodian Zodia Custody We are pleased to announce an investment from NAB Ventures, the venture arm of NAB. NAB Venture’s investment recognises Zodia Custody's innovative approach, institution-grade safety and strong work with regulators. Amanda Angelini, Managing Director of NAB Ventures, highlights NAB's commitment to secure financial services:"As a trusted financial institution, NAB is focused on ensuring the finance sector continues to provide simple, safe and secure services for Australians. This is particularly important in newer fields where technology continues to evolve quickly. NAB Venture’s investment in Zodia was based on a range of factors including their innovative approach, institution-grade safety and strong work with regulators. We look forward to seeing Zodia Custody drive further innovation in the digital assets space.” "Zodia Custody is the next level up — for me, for institutions, and for the Australian digital asset ecosystem," said Kate Cooper, CEO Australia & Head of APAC at Zodia Custody. "The investment from NAB is another great endorsement of our mission and vision. But more than that, it signifies a turning point, with institutions and infrastructure providers jointly building the mainstream future of digital assets, without compromise." "We are extremely grateful to NAB Ventures for their support in our vision to build a better institutional digital asset infrastructure. It’s a true vote of confidence,” said Julian Sawyer, CEO Zodia Custody. Sawyer adds: “Australia is set to enter an unprecedented period of innovation and adoption. We are here and ready to support institutions on that journey." #ZodiaCustody #NABVentures #DigitalAssets #Australia

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It has been a great opportunity to continue the collaboration with Blossom App to bring innovate payment solutions to life. Blossom App is enhancing the financial journeys of Australians by integrating real-time account funding through Azupay's PayID.   This strategic move enables customers to fund their Blossom App accounts and start investing within just 5 minutes. Additionally, the introduction of Azupay's PayOut solution allows instant withdrawals up to $5,000 - significantly improving user experience and efficiency.   Blossom App Co-Founder Gaby Rosenberg stated, "Implementing Azupay's PayID solution has solved our payments challenges by giving our users the ability to instantly contribute to their savings and to withdraw to their bank accounts as and when they need it, becoming our most popular transfer method."   Read more about Blossom App's case study with Azupay: https://lnkd.in/gpsgn7rq #Azupay #BlossomApp #Partnership #Innovation #RealTimePayments

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Directors - the way decision-makers buy products and services has shifted over the last few years. A LOT... Most of their decision-making is done BEFORE they even speak to your sales team 🕵️‍♂️To prove the point...How do YOU make high-ticket buying decisions? You go to the internet first and learn about options through Social Media, websites & videos. Right? You only speak to a salesperson once you’re reasonably sure what you want The same is true for selling your B2B services online...

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Stay ahead of the curve in the world of lending, aggregators, brokers, and loans with our FREE daily newsletter! Don't miss out on the latest insights, trends, and developments shaping the industry. Subscribe now to Australian Broker! https://hubs.la/Q02yt8FY0 #brokernews #industryinsights #newsletter

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At the Reserve Bank of Australia's Payments Sydney Board meeting on Friday they said the next review of retail payments regulation is expected to begin soon after anticipated changes to the Payment Systems (Regulation) Act (1998) pass parliament. This important review will cover all aspects of the RBA’s regulation of retail payments. These rules increasingly impact all Australians every day as we quickly move away from cash. The RBA will also seek views on a range of emerging issues. During this process, the Independent Payments Forum will advocate for fairer rules and fees for electronic payments and greater reliability for Australian businesses and their customers. For example, pointing out the inequity of #smallbusiness paying three times more than big business for payments. https://lnkd.in/gUNrZNQV #Payments #competition Brad Kelly Russell Zimmerman Peter Denman Gabby Taylor AACS (Australian Association of Convenience Stores) Council of Small Business Organisations Australia (COSBOA) Australasian Convenience and Petroleum Marketers Association (ACAPMA)

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Payment alerts in the NAB App and Internet Banking have helped our customers avoid more than $100m in potential scams in 15 months. Read more below. ⬇ New insights out today also reveal: 📌Customer scam reports increased by around 10% between October 2023 and March 2024 compared to the same period a year beforehand, while customer losses decreased by around 17%. 🚩Since we announced last July we were removing links from SMSes, we’ve sent more than 40 million text messages to customers without links. That’s 40 million moments in 12 months where we’ve been able to make banking safer for our customers by making it easier to distinguish if a text message from NAB is legitimate. Stopping the crime before it happens is the only way we can stop criminals targeting Australians. We can, and will, do more. 

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Recent ACCC fines have taught the industry a lesson about Product Reference Data: Stuart Low, Founder & CEO at Biza.io #australianfintech #fintech #fintechnews #OpenBanking #ConsumerDataRight #CDR #data #banking #ProductReferenceData

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