Banking products
Westpac close to $1.3b life insurance sale to Japan giant Dai-ichi: report
Japanese giant Dai-ichi Life Holdings is nearing a deal for Westpac’s life insurance unit that could value the business at about $US1 billion ($1.3 billion), according to people with knowledge of the matter.
- by Harry Brumpton and Nabila Ahmed
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Opinion
Opinion
A $30b bank buyback bonanza in store for investors
Banks are primed to hand back billions of dollars of excess capital to investors, in sharp contrast to last year when they were told to batten down the hatches.
- by Adele Ferguson
ASIC hits AMP with fresh court case over ‘fees for no service’ scandal
The action comes just two weeks after the Australian Securities and Investments Commission said it had finalised its investigation into AMP’s financial planning business.
- by Sarah Danckert
AMP launches new advice model after damning royal commission ‘lit a fire’
AMP emerged as one of the worst performers in the royal commission, charging dead customers and misleading the regulator. Now, it has launched a new approach to financial advice it says signals a new era.
- by Charlotte Grieve
Opinion
Opinion
Best bank accounts designed especially for kids
It pays to shop around for the best savings accounts for children. There are a myriad of choices and many come with special conditions.
- by Nicole Pedersen-McKinnon
Banks launch new COVID relief deals as cases surge
The Australian Banking Association said banks will offer deferrals on business and home loans as lockdowns continue to cause financial strain.
- by Charlotte Grieve
How FrankieOne founder Simon Costello’s failed neobank led him to success
The entrepreneur wanted to shake up the banking industry by building a neobank. Now, he’s changing banking for the better in a new way.
- by Charlotte Grieve
CBA wakes up ‘sleeping beast’ in business banking
CBA senior executive Mike Vacy-Lyle says the big four banks have had a complacent approach to business banking, but CBA has “woken the beast” and is keen to take more share.
- by Clancy Yeates
Calls for tighter regulation as buy now, pay later costs mount
A surge in the use of buy now, pay later in online shopping through the pandemic has prompted consumer advocates to again call for tighter regulation of the products.
- by Rachael Dexter
ME Bank facing 62 criminal charges over mortgage fail
The Commonwealth Director of Public Prosecutions will allege ME Bank gave wrong information to customers or failed to notify them altogether about mortgage changes.
- by Charlotte Grieve
Banking apps to get more predictive and personal: CBA
Commonwealth Bank’s head of retail banking says the bank’s app will increasingly serve up automated tips to customers on how to better manage their money.
- by Clancy Yeates