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Open Banking: Three shortcuts to success for Australian banks, from the UK

Currently, mobile banking in Australia among the incumbents is ahead of many other regions. Each of the four major banks, ANZ (Australia and New Zealand Banking Group), CBA (Commonwealth Bank), NAB (National Australia Bank) and WBC (Westpac), provide userfriendly experiences.

Challengers are already making traction in Australia, in May 2018 the APA granted the first restricted banking license to neobank Volt, fintech Xinja will likely follow. This competition from challengers will only intensify with the introduction of Open Banking in Australia next year. Read more...
How Australian banks can leverage the UK’s experience of Open Banking

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