Social media behemoth Facebook is looking to partner with Australian banks to explore opportunities in mobile banking, in a move that could radically change the face of retail banks.
Paul McCrory, head of financial services Australia at Facebook, said the $428 billion tech giant has built "huge mobile platforms" that see 11 million Australians a day. Facebook sees opportunities in leveraging that scale to do business with Australian banks.
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Ruth Liew writes on business specialising in Insurance, wealth management and financial services. Ruth is based in our Sydney newsroom. Connect with Ruth on Twitter.
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
