Bendigo and Adelaide Bank has completed its implementation of Phase 1 of Modernized Economic and Financial Statistical Reporting (EFS) using Wolters Kluwer’s OneSumX for Regulatory Reporting. EFS is an ambitious regulatory change program, managed by the Australian Prudential Regulation Authority (APRA).
Bendigo and Adelaide Bank has chosen Wolters Kluwer’s OneSumX to provide its regulatory reporting solution for its operations in Australia.
The Australian Competition and Consumer Commission has denied authorisation to the Commonwealth Bank of Australia, Westpac, National Australia Bank, and Bendigo and Adelaide Bank to collectively bargain with Apple and boycott Apple Pay.
The group of Australian banks fighting it out with Apple for access to the iPhone's near-field communication function say that it is "unrealistic" to expect them to settle for Android Pay and non-NFC alternatives.
The group of Australian banks fighting it out with Apple over the introduction of the consumer electronics giant's mobile payment system have narrowed down their complaint to the Australian Competition and Consumer Commission (ACCC) to focus solely on open access to the NFC function on iPhones.
Australian banks are set to lose their bitter struggle to win collective bargaining rights over NFC access to iPhones as the country's anti-trust regulator issues a draft determination in favour of Apple.
The simmering dispute between Apple and four of Australia's leading banks over terms of access to Apple Pay has erupted into a fresh slanging match as the banking collective presses home its campaign to secure collective bargaining rights for NFC access to iPhones.
The war of words between Apple and some of Australia's biggest banks is growing increasingly heated as the financial collective accuses the consumer electronics group of acting against the interests of customers in the ongoing row over collective bargaining rights for NFC access to iPhones.
Australia's retailers have thrown their weight behind an effort by the country's banks to win the right to collective bargaining with Apple over NFC access to iPhones.
Australia's banks will have to sweat it out over their application for a collective bargaining agreement with Apple over NFC access to the consumer group's iPhones after the country's competition watchdog said that it needed more time to ponder the submissions made by the warring factions.
© Finextra Research 2019