Westpac is leveraging its investment in data sharing startup Data Republic with the launch of a service that enables corporate clients to store and exchange anonymised data with a view to gaining deeper insights into customer behaviour.
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.
Apple has accused Australian banks of using "innuendo and misstatements" to support their attempts to overcome restrictions imposed by the consumer electronics firm on the use of iPhones for mobile payments.
Westpac is doubling down on its investment in the fintech startup scene, pumping another $50 million into a second fund to be managed by Reinventure Group.
The founder of an Australian robo-advisor has accused the country's banks of hypocrisy over their cries of anti-competitive behaviour from Apple Pay
Four Australian banks are joining forces to negotiate with Apple and be allowed to offer their own payment services on the tech giant's hardware.
Millions of Australian banking customers were unable to access ATM and Eftpos services on Sunday after severe storms on the east coast caused widespread damage, including a major outage at a cloud computing service used by several banks.
National Australia Bank, Westpac and Qantas have invested $10.5 million in Sydney-based startup Data Republic, which is aiming to build a marketplace for data exchange between major corporations.
Australian bank stand to lose up to A$13 billion in aggregated revenue to fintech startups, according to research from Frost & Sullivan.
© Finextra Research 2016