Millie, aged 5, wants to know where money comes from. We asked an economist to explain.
WeChat has transformed from a social media to a payment platform (among other things) and had success in China. Could Australia be next?
Siphiwe Sibeko/Reuters
While Apple Pay may have won the battle against some of Australia’s banks, it may lose the war against the providers of digital wallets, such as Tencent and Alibaba.
Declining interest rates have been working for home buyers, now they are working against them.
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Beyond her political savvy, Anna Bligh’s appointment as CEO of the Australian Banking Association brings greater access than a Liberal appointee would.
Australian banks’ capital levels must be ‘unquestionably strong’, according to the Financial Systems Inquiry.
AAP/Dean Lewins
Bank customers usually stay with their bank despite scandals in the sector, however new tech that gives consumers more information might help them switch.
The banks could have used their collective bargaining power not only against Apple for Apple Pay but also stall the adoption of mobile payments in Australia.
Bangladesh’s central bank recommended not opening up more opportunities for new banks, but the government thought otherwise.
Ashikur Rahman/Reuters
Members of House Standing Committee on Economics should be asking the directors of Australia’s Big Four banks (not the CEOs) different questions, if they really want the right answers.
Commonwealth Bank of Australia CEO Ian Narev attends the parliamentary inquiry into the banking system.
AAP Image/Lukas Coch
Business Briefing: fixing culture in banking and finance
The Conversation19,7 MB(download)
"Banking culture" has drawn a lot of scrutiny this year, after several high-profile scandals. But Professor Paul Kofman says there isn't much evidence for how to intervene if there's a problem.
Australian schoolchildren are being taught financial literacy through programs often run by big banks.
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The government has heavily invested in initiatives intended to help children understand finance. But should this be taught by school teachers instead who are sensitive to kid’s backgrounds?
ASIC has been highly critical of some of the practices of Australia’s big four banks.
Britta Campion/AAP
An ASIC report detailing how financial advice was paid for but not given by Australia’s big four banks exposes a culture problem that the government needs to deal with.
Home owners will bear the brunt of the new lending restrictions from APRA when it’s lenders who should be penalised.
Dave Hunt/AAP
APRA has updated its guidance to lenders on concerns about the risks to financial stability from the housing market, but it should be focusing more on the banks, not hurting those with a mortgage.