After much fanfare, the Consumer Data Right in banking is doing ... not much. Now the ACCC is making veiled warnings of greater regulatory enforcement.
Fintech
Banking one in five Australians and a major force in innovation, customer-owned banks face scale challenges, particularly in the cost of regulation, says COBA CEO Michael Lawrence.
US benchmark bond yields hit 16-year highs last night and look set to stay higher for longer. This makes Australia vulnerable, in more ways than one.
AI, crypto, ESG, regtech are all attracting interest from fintech investors but the critical mass in the sector still sits within a single market: payments.
Personal loan financier Harmoney is shopping around for new debt and has appointed Grant Samuel to advise it.
The relationship between banks and fintechs has not been helped by the rising rate cycle, but big bank bosses reckon the mutual attraction remains.
The latest numbers don't look great, but according to KPMG M&A partner Daniel Teper there's still life in fintech yet.
