Australian Banking & Finance articles from January 2007

Australian Banking & Finance archives from January 2007

ANZ, Westpac face life without McFarlane and Morgan: two of Australia's major banks face a leadership transition in the next 12 months. Each is handling it in a different way.
January 31, 2007... By the time Australia and New Zealand Banking Group chief executive John McFarlane leaves his position at the end of December, he will have led the bank successfully for just over a decade. ANZ has finally resolved its leadership succession...

Retail banking platform study commends Infosys' Finacle: the most recent Forrester Wave report, Retail Banking Platforms Q4 2006 (November 2006), has identified Finacle from Infosys as an emerging leader.(NEWS)
January 31, 2007... In the study, the first of its kind to comparatively examine the retail banking platform market, Forrester evaluated five global retail banking platform vendors. These were short-listed through a rigorous multi-criteria selection process that...

Customers Ltd to acquire ATM network from Macquarie.(NEWS)
January 31, 2007... ELECTRONIC PAYMENTS system company, Customers Ltd, has entered a definitive agreement to acquire ATM Solutions Australasia Pty Ltd from Macquarie Payments Infrastructure Holdings Ltd, a subsidiary of Macquarie Bank. ATM Solutions operates...

Goldman Sachs JBWere stages coup with Sinodinos appointment.(NEWS)(Arthur Sinodinos)(Brief article)
January 31, 2007... THE APPOINTMENT OF PRIME Minister John Howard's former chief-of-staff, Arthur Sinodinos, as a senior director with Goldman Sachs JBWere is a major achievement for the merchant bank. The man described by the Sydney Morning Herald as "one of...

Developing regions to prosper from globalisation: a recent World Bank report has predicted a soft landing for the global economy and a long-term improvement in the position of developing nations.(NEWS)
January 31, 2007... According to the World Bank's recently released report, Global Economic Prospects 2007: Managing the Next Wave of Globalisation, the medium-term outlook for the world economy remains positive. And while the pace of economic expansion is...

On the record.(NEWS)
January 31, 2007... "Where banks and other non-bank financial institutions traditionally had payments to themselves, they are now experiencing competition from different types of organisations, including telcos and other service providers (such as Amazon and...

Risks increase for banks in global payments market: payments--a key profit stream for many financial institutions--are proving more difficult to manage as the global market changes, new technology is introduced and different types of competitors emerge.(GLOBAL PAYMENTS FEATURE)
January 31, 2007... The global payments market is expanding and changing, with a number of key trends affecting the ways in which consumers use payments services and the ways in which financial institutions provide them. For example, with the overall volume of...

Outsourcing to accelerate in 2007: expert commentators agree that there will be a significant increase in business process outsourcing activities by banks and other financial institutions this year.(BUSINESS PROCESS OUTSOURCING FEATURE)
January 31, 2007... Despite recent negative publicity, organisations in the financial services sector are more eager than ever to outsource--and offshore--a variety of business processes. According to Gary Ebeyan, Infosys Australia chief executive officer and...

AML legislation to drive business benefits.(the financial crime column)
January 31, 2007... The anti-money laundering and counter-terrorist financing Bill was passed by the Australian Government on 7 December 2006, and many will see it as a burden. However, it should also drive business benefits and be viewed as part of Australian...

A UK update on AML.(the financial crime column)
January 31, 2007... The importance of--and emphasis on--money laundering legislation in the United Kingdom is highlighted by the fact that the Prime Minister, Tony Blair, now chairs the Serious and Organised Crime Cabinet Committee. Directly below this committee...

How valuable is your bank's brand name?
January 31, 2007... Have you ever considered the value of your bank's brand name, what factors affect it, how you can leverage it better, and how its value compares with the group's quoted market value? It is sometimes argued that commercial organisations with...