This Month
- Analysis
- Government Observed
Canberra’s $1b digital identity play could be the next white elephant
The failure of open banking and the poor uptake of My Health Record offer a salutary warning for the government’s digital ID system.
- Tom Burton
Fintechs accuse banks of sabotage on ‘open banking’
The start-ups attacked the banks for trying to sabotage the consumer data right, arguing figures on low usage misrepresent growing interest in account switching.
- James Eyers
Senate to vote next month on extending data right for bank switching
Treasurer Jim Chalmers is working through banks’ concerns about the consumer data right, as the Senate forced a vote on a bill to extend it by mid-August.
- James Eyers and John Kehoe
- Exclusive
- Open banking
Banks spent $1.5b on account switching. No one is using it
The consumer data right, which has already cost banks $1.5 billion, is too complicated and doesn’t have a clear use four years after launch, major lenders say.
- James Eyers
- Analysis
- Open banking
They built it – but nobody came. Consumer data right needs help
Privately, bank bosses remain highly agitated about being more open about the valuable data they hold, the sharing of which could make competition more intense.
- James Eyers
June
Mastercard’s call to save open banking
If Treasury can iron out the teething issues, the government’s consumer data right is ready for take off, according to a new report from the US payment giant.
- James Eyers
AirTrunk rolls out $7 billion staple debt package to bidders
AirTrunk’s key lenders have waived their rights to exit the debt stack upon a new owner’s arrival. Instead, they are underwriting a staple debt package to underpin bidders’ financing requirements.
- Sarah Thompson, Kanika Sood and Emma Rapaport
May
After Comyn’s AI trip, the CBA boss can compute impact on banking
Comyn now knows AI will reshape the global technology industry, business landscape and geopolitics in profound ways yet to play out.
- James Eyers
- Opinion
- Chanticleer
AI could claim 30pc of executive jobs in two years
As Commonwealth Bank CEO Matt Comyn keenly monitors the AI revolution, Adam Driussi of Quantium says more executives need to follow suit.
- James Thomson
NAB plots major AI strategy to roll out in three key areas
National Australia Bank said generative AI is identifying systemic risks from customer complaints and helping bankers assess documents used to support lending.
- James Eyers
APRA warms to AI, tells banks they can adopt it
A senior APRA member has told an industry event that banks with proper governance systems and technology in place should feel confident proceeding with advanced AI.
- James Eyers
Nearly 46 hours a month to read all privacy policies: study
Australians would spend nearly 46 hours a month reading all the privacy policies they encounter, according to a new report into data firms.
- Tom Burton
April
Booming AI demand threatens electricity supply
Regulators are scrambling to factor the explosive growth of data centres into demand projections as one network warns of a 250 per cent surge in power needs.
- Ben Potter
February
What this small fintech deal says about the big shifts in data sharing
Few have heard of Fat Zebra and Adatree. But the acquisition points to emerging data rights, as screen scraping teeters and Apple enters open banking in the UK.
- James Eyers
December 2023
Hartzer joins Woolworths’ Quantium Health as CEO
Former Westpac boss Brian Hartzer has taken the reins at data analytics player Quantium Health.
- Lucas Baird
September 2023
The power of data: here’s what the Financial Review knows about you
You probably just read about house prices. If we’re doing our jobs, you’ll peruse this too.
- Lauren Vadnjal
Cisco is buying Splunk for $44b. Here’s what Splunk does
The name of the data company, just acquired in “the Moby Dick” of deals, reflects the act of burrowing deep down into the Earth to explore caves.
- Katrina Manson
Satellites that can see through smoke to fight fires this summer
Using Australian locational and building data from Geoscape Finnish satellites will give emergency responders near real-time intelligence on damage and fire path warnings across the country.
- Tom Burton
August 2023
Treasury considers an end to bank account password sharing
A consultation paper has asked fintech start-ups and banks to describe the impact of banning screen scraping and whether the CDR is ready to replace it.
- James Eyers
Emerging leaders tackle climate and data threats
A leader in developing strategies to keep communities safe in a changing climate is one of the joint winners.
- Nina Hendy