13 December 2017
Sydney

News

APS 2018 – Check out the highlights

7 December '18
A big thank you to all who joined us at the Australian Payment Summit in Sydney last week!  The summit opened with a keynote by Philip Lowe, Governor of the Reserve Bank of Australia, on "A Journey Towards a Near Cashless Payments System" (see RBA notes). Our co-host Australian Payments Network has also published this blog...
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"Payments in the Platform Economy" - Sneak Preview

20 November '18
  "Payments in the Platform Economy"   - Unwrapping the A-Z and discussing the impact   In an absolutely compelling keynote opening panel debate, Paul Schulte will introduce and highlight key drivers of change in the market place and kickstart a fierce debate amongst thought leaders represented by: Leading global payments platform -  Mia Ma | WeChat...
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Can Australia Go Cashless?

6 November '18
  The Cashless Society: Who demands it, do we need it and can we live with it? A view on resilience The decline in cash payments is pushing central banks globally to consider the resilience in their financial infrastructure. This has raised certain alarms, even at the Sveriges Riksbank (central bank of Sweden), arguably the...
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Payment Data Security & Complying with Data Privacy Regulations

6 November '18
  Since the Notifiable Data Breaches (NDB) scheme started on 22 Feb 2018, the Office of the Australian Information Commissioner has been notified of 550 data breaches# (as at end of September 2018). Malicious attacks has been the leading source of data breaches with the finance industry being the 2nd largest source of data breaches, reporting an...
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Open Banking – Exploring New Opportunities

30 October '18
    The Australian government's moves toward implementation of open banking is a significant stride for the traditional banking industry and enables a structured and enforced open model. With the UK model paving the way, the critical question now is how Australia can learn from the European models and pave the way for an improved...
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Australian Payment Summit - Top reasons to attend!

26 October '18
With the buzz around the 2018 Australian Payment Summit kicking into gear, here are our top reasons why you should attend our flagship industry event.   1. Hear from the Governor of the Reserve Bank of Australia (RBA), Dr Philip Lowe We are delighted to have the RBA Governor as our keynote speaker again this year. For...
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In Search of New Business Models in Payments

25 October '18
In Search of New Business Models in Payment How to monetise data, APIs, identity, and more     It’s no secret: data is the oil of the future and in today's data-rich economy, intelligent use of information makes way for new opportunities and multiple streams of monetisation. Digital banks focused on APIs are looking at new revenue through...
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New X-Border Payment Realities

10 October '18
  With real-time domestic payments increasingly adopted in Asia Pacific and also Australia, will cross border real time service ride on this wave and become a reality? Can corporate treasurers now look at this development to significantly help with same day or even 24/7 settlements? If markets move to 24/7 clearing, will concept of 'after...
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Blockchain in Payments - Australian Developments

10 October '18
  Have you heard the good news about blockchain yet? As mentioned by one of the most respected commentators and consultants, Dave Birch, "Blockchain is not a technology, it's a religion'. Has it been a fix-all magic notion for all the problems of the world? Almost every bank, card company and even more progressive central...
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Sharing "Field Notes" on Europe’s Open Banking

25 September '18
We are very happy to announce an in-depth plenary working session on PSD2-Open Banking realities in Europe. Lessons learned will be shared by expert Gijs Boudewijn, who is Chair of the Payment Systems Committee at EBF as well as general manager at the Dutch Payments Association. Gijs has been instrumental in representing banks in establishing...
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Fuelling Australia' Fintech Future - A Fireside Chat

8 December '17
  Australia has a vibrant and growing Fintech market, with the recent census produced by Fintech Australia and EY showing growth in some key areas. Notably, fintechs experienced 208% growth in monthly revenue between June 2016 and June 2017. Alongside this there has been a marked decrease in the number of pre-revenue fintechs, dropping from...
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Australia in the Context of Global Developments

8 December '17
Undeniably, global developments in payments are evolving at startling pace. According to 2017 World Payments Report, global non-cash transaction volumes hit the highest growth of the past decade with emerging Asia and CEMEA as main growth rate drivers. And cashless payments are estimated continue to increase at a CAGR of 10.9% from 2015-2020. From the...
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New payments: disruption and change in cross border and domestic payments

23 November '17
Many payments professionals agree that there has never been a more interesting time to work in this industry. In an increasingly digitised world, higher customer expectations, regulatory pressure and the threat of disruption are driving banks and market infrastructures to upgrade their services and adopt new technologies. The NPP is a great example of how...
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The New Payment Environment & Regulatory Challenges

14 November '17
Disruption across the payments industry has come in waves of small shifts and no one can predict how they will shape and change the next 10-20 years in payments and transaction banking. But in the face of a oncoming storm, everyone agrees incumbent financial institutions must quickly innovate to remain relevant and top of mind...
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 Tackling Payment Data Security & Data Privacy

31 October '17
  According to Gemalto’s Breach Level Index, 1.9 million data records were compromised in the first half of 2017. Of the 918 publically disclosed total data breach incidents, 14% (125 incidents) affected the financial industry. Data Security and Privacy regulations such as PCI DSS, The EU’s General Data Privacy regulation (GDPR) and Australia’s Notifiable Data...
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Open Banking: The New Seedbed for Financials

12 October '17
  As Australia embarks on implementing the open banking regime paving way for more competition in the financial industry, this is possibly an uncomfortable time for incumbent big banks. Technology companies and Fintechs can potentially erode the profitability off low hanging fruits from banks. And when banks are regulated to disclose and share customer data,...
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Is it Harvest Time for Blockchain?

5 October '17
A top-panel will debate on key benefits of blockchain in payments and transactions around cases and international best practices. First “win” we already see with the new remittances payment solutions. Topics for debate are, a.o.: technical requirements for scaled payment solutions; the commercial considerations using blockchain; privacy; tax compliance and role of state; value exchange,...
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Payment Services Directive 2: PSD2 sparks innovation in Open Banking ecosystems

14 September '17
In this article, Deutsche Bank and Innopay join forces to share our opinion on the foremost challenge currently facing the European payments market: “the practical implementation of third party access to account (XS2A) as part of the revised Payment Services Directive (PSD2)”. With European lawmakers finalising their work on the legal aspects of XS2A, it...
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Data sharing and open banking

14 September '17
What will open banking bring to the Australian payment industry? How will increased open access change how players navigate and compete? Is the European model a good example / road map for the rest of the world? Check out this McKinsey Report on data sharing and open banking.   "The potential benefits of open banking...
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