Xinja, which hopes to lead a wave of new digital start-up banks, says moves to relax the strict licensing regime for the industry are already making investors more willing to back small challenger banks.
Clancy Yeates writes on business specialising in financial services. Clancy is based in our Sydney newsroom.
The dual citizenship chaos engulfing the government risks damaging how Australia is viewed by foreign investors and could threaten much-needed business investment, corporate leaders have warned.
The government's financial intelligence agency has examined the ATM systems of CBA's rivals and is confident they haven't had the same problems in reporting large cash transactions to authorities.
QBE Group expects to sell some of its troubled Latin American business after an "extremely disappointing" loss in its emerging markets arm dragged on the global insurer's profits.
Start-up businesses with $3 million in capital could qualify for a "restricted" banking licence under a proposal from the prudential regulator to put more competitive heat on the big four.
The departure of Commonwealth Bank chief executive Ian Narev has been backed by corporate governance experts, but failed to stave off the political heat on the bank over a money laundering compliance scandal.
Commonwealth Bank chief executive Ian Narev will leave the bank by the end of this financial year.
Will CBA's response to allegations of mass breaches of anti-money laundering rules be enough to stem the growing pressure on the bank and its bosses?
Reserve Bank governor Philip Lowe has slammed the banking sector for its short-term profit mindset and cultural collapse.
Treasurer Scott Morrison says CBA has had an "epic fail" after allegations it breached anti-money laundering laws, and cited "very troubling" issues of culture and governance.