This Month
- Immersive
- Social media
The Australians inside Andrew Tate’s online ‘university’
Leaked member data from the controversial influencer’s “financial education platform” reveals its popularity.
- Joshua Peach and Lucy King
Exploration drillers tighten belts as boom fades
Spending on mineral exploration is sliding and inflationary pressures mean each dollar delivers fewer metres drilled. But AI and data analysis might save the day.
- Peter Ker
November
CBA prepares for AI to transform banking, with dozens of uses
The country’s biggest bank is already using AI to resolve 15,000 payment disputes every day. And its chief executive, Matt Comyn, says many more uses are on the way.
- James Eyers and Lucas Baird
September
- Opinion
- Privacy
Labor’s plan for protecting your privacy: hope the internet disappears
The Albanese government has squibbed at nearly 40 key privacy reforms and given in to an outdated argument that Australia is a nation of shopkeepers.
- Tom Burton
August
This ‘Bloomberg killer’, backed by Microsoft, might succeed
There are a number of so-called ‘Bloomberg killers’ already littering the financial technology graveyard. Can this one win over users?
- Michael Bow
Banks say consumer data right ‘action initiation’ rescue will cost $3b
Ahead of a parliamentary vote next week to extend the consumer data right to boost switching, the ABA is pointing to costs and risks as reason for delay.
- James Eyers
July
- 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
- 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
- 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
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