banking

Financial planning

Research confirms lack of trust in banks

Research commissioned by the Australian Bankers' Association has confirmed consumers’ lack of truck in banks....

Policy & Regulation

Big four banks agree to ASIC contract changes

The big four banks have agreed to specific contractual changes with ASIC to eliminate unfair terms from their agreements....

Superannuation

‘Scandal-ridden banks’ untrustworthy on insurance

Industry superannuation fund Vision Super has told the Productivity Commission that the banks are ‘scandal-ridden’ and cannot be trusted with respect to insurance inside ...

Tech

Fintech no factor in competitive financial services ecosystem

A report released this week by the World Economic Forum and Deloitte has failed to support fintech as a key player in the competitive financial services landscape....

Financial planning

Financial loyalty proves fruitless

Data from finder.com.au showed close to half of the population use just one bank for all financial needs....

Editorial

Making bank employment undesirable

Will the Government’s Bank Executive Accountability Regime combine with the Australian Bankers’ Association employment protocol to make employment in the banking sector a...

Financial planning

Aged care advice doesn’t need licensing

Aged care advice is too broad with multiple moving parts to have its own specific, narrow licensing condition, according to the Financial Planning Association....

Policy & Regulation

Holistic advisers will pay more on ASIC funding regime

Licensees providing holistic advice will be hit harder than those focused on general and wholesale advice under the Government’s new industry funding proposals for the Au...

Financial planning

Banks should go back to banking

Banks should not provide wealth management services and financial advice unless they can stamp out the product-driven sales culture that is entrenched in the institution....

Financial planning

Reviews, Royal Commission will not change bank culture

Reviews into retail banking remuneration may raise awareness about the sales culture but it will not alter the product-pushing behaviour of banks and other financial inst...

Policy & Regulation

No grounds for outright product-based payment ban

Stephen Sedgwick’s report into retail banking remuneration failed to find substantial reason for an outright ban on product-based payments but made recommendations to pro...

Financial planning

Sedgwick report overlooks scandal-ridden areas

Stephen Sedgwick’s review into retail banking remuneration was limited in its terms of reference, meaning it did not examine areas of financial services that have been ri...

Financial planning

Data sharing vital to future of banking industry

Financial technology and banking experts gathered at the Australian Bankers’ Association Communique have spoken in favour of better access to open data....