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10 September 2019 • By Eliot Hastie • 1 min read

New entrant to banking industry granted ADI

APRA has granted neobank Xinja its full banking licence with the digitally designed bank already offering accounts to early customers. The neobank ...

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AMP Wealth head pushes robo-advice

AMP Wealth Management chief executive Alex Wade has said it is the “moral obligation” of the industry to provide affordable advice, backing digital ...

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Netwealth profit up 23.9%

Netwealth Group has boosted underlying net profit rise by 23.9 per cent in financial year 2019, as its investor directed portfolio service has turned ...

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Praemium FUA hits $16bn

The wealth platform provider has posted a 108 per cent increase in total funds under administration to $16.1 billion over the year to 30 ...

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Record growth on platforms thanks to adviser independence

Powerwrap has had their best quarter yet thanks in part to advisers looking for products and platforms that are unaligned with the big banks

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Big tech bigger threat to incumbents than neobanks

A new report has found that banks view big tech firms like Facebook and Apple as a bigger threat to the banking system than neobanks. An in-depth ...

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Micro-investing app launched by CBA

Commonwealth Bank has launched a micro-investing app through its digital broking platform CommSec to offer ETF access to Australians. CommSec ...

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Government brings open banking to parliament

The Consumer Data Right legislation, that will enact open banking will be seen by parliament this week according to the Treasurer. The legislation ...

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‘A smarter alternative to the big four banks’

Newly licenced neobank 86 400 has bold ambitions to take on the big four banks but it's an ambition it says is entirely appropriate. APRA recently ...

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Financial services more vulnerable to outages

A new global study has found that financial services organisations are more vulnerable to certificate-related outages than other organisations

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