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  • Banks ill-equipped for proposed APRA data demands

    ​Australia’s Authorised Deposit-Taking Institutions (ADIs) have inadequate technology infrastructure to meet the demands for higher quality data reporting being proposed by their regulator, a recent survey suggests.

  • Tech investment helps drive up Westpac costs

    Westpac registered a 3 per cent increase in costs for FY16 in line with the group’s revenue growth, with CEO, Brian Hartzer, telling a full year results briefing that the bank’s investment spend would help put it in good stead for future returns.

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  • Outsourcing by Financial Services Companies: Impact of the OCC and FRB Guidelines

    Outsourcing has become a critical component of management of financial institution operations. Consequently, the Office of the Controller of the Currency (OCC) and the Federal Reserve Board (FRB) recently issued guidance on how financial institutions should manage third-party risks. • Institutions are outsourcing increasingly complex and sensitive banking and financial operations to third parties • The guidance issued by each agency has particular relevance to outsourcing transactions and provides companies with a roadmap of the key areas of concern to regulators • Many of the suggestions in the OCC and FRB guidance concern provisions of outsourcing agreements where vendors often push back

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