Dee McGrath

Robert Magee, Program Director – ISO 20022 Industry Migration at Australian Payments Network (AusPayNet), discusses the evolution and interoperability of cross-border payments under the ISO 20022 standard. 📑 "Because it is an open and flexible standard, individual FMIs can implement ISO 20022 in a way that works best for them, their local market conditions and requirements, and their participants. However, this flexibility also creates a risk of variation, incompatibility between jurisdictions, friction, and reduced interoperability." Read this insightful editorial piece here ⬇⬇⬇ https://lnkd.in/gvAvUEdc

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Curious how the ISO 20022 standard will evolve within the payments landscape?    Robert Magee, Program Director - ISO 20022 Industry Migration at AusPayNet, recently wrote an article on 'Enabling the evolution and interoperability of cross-border and domestic high-value ISO 20022 payments' for The Paypers.    Rob discusses the challenges surrounding ISO 20022 evolution, and how global collaboration is key to achieving interoperability.    Rob says, “Interoperability is the key to enabling ISO 20022 evolution. The Financial Market Infrastructures that achieve it will reduce costs and processing times for their participants.“     #ISO20022 #CrossBorderPayments #ThePaypers #AusPayNet 

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Launching November 2024, ARTIPI will bring together some of Australia's leading independent payments experts and consultants to help businesses (+PSPs, Banks & NBFIs) navigate and optimise payments solutions and strategies. With emerging new payments product and technology, significant infrastructure changes (BECS, NPP & Blockchain), evolving regulatory and compliance demands, expanding consumer choices and expectations; finding the right solution for payers & payees across payments economics and experience can quickly become complex and challenging. The ARTIPI founders and select network consultants each come with over 20+ years of payments, banking and corporate enterprise industry experience, with flexible and cost effective engagement options across a range of payments services, to suit your business needs. Stay tuned also for regular updates on payments news and content as well as video interviews to keep you informed on strategies, solutions, services and suppliers to help you navigate and succeed in the exciting and evolving current Australian and global payments landscape. Visit us at: www.artipi.com.au to learn more as well as free access to some useful Australian payments industry reference material and links. #payments #paymentsolutions #paymentsconsulting #realtimepayments #paymentsoptimisation #receivables #payables #workingcapital #transactionbanking #Fintech #treasurymanagement #paymentstrategy

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Banked : and NAB Partner to Accelerate Pay by Bank Adoption in Australia Brad Goodall, CEO of Banked, shared: “The nascent A2A payments industry in Australia presents an incredible opportunity for Banked. Local regulators have developed well-constructed mandates and the banking industry is primed for innovation, all of which sets the stage for rapid growth in real-time payments. Working together is the secret to success. Banked’s core value is based on partnership – we work closely with bank partners and connect with the broader fintech ecosystem – and we are very pleased to join forces with one of Australia’s top financial institutions. NAB, a trusted brand in the Australian banking industry with an ambitious digital banking strategy, was a natural fit as a partner to build forward-thinking real-time payment solutions. Together, we’re well positioned to not only unlock, but accelerate, Pay by Bank opportunities in the Australian market. We are confident that our approach will resonate with regional businesses and consumers, setting a new standard for payments.” https://lnkd.in/e6wNCngq Shane Conway Katrina Stuart #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Westpac New Zealand has reached a significant milestone, confirming its operational readiness to collaborate with approved third parties on delivering open banking solutions to improve New Zealanders’ banking experiences. The bank has made Payments NZ’s API Centre Payment Initiation v2.1 API Standard available for third parties to connect to. Russell Jones, Westpac NZ chief information officer, stressed the bank’s dedication to open banking. https://lnkd.in/gX2C3waF #openbanking #APIs #payments #banking #bankingtechnology #NewZealand #NZAdviser #advisernews

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Payment Expert’s ID Check: Payments Professionals offers insight from industry leaders and experts on how they got their start in the financial industry, from their early years in education, to how they have been able to climb the corporate ladder. This week, BlueSnap European CEO Brian Gaynor discussed with Payment Expert the valuable early years of working a part-time job and a studying for a degree, his important stint at J.P. Morgan and why the lead at a controversial airline has him striving for improvement. https://lnkd.in/eFV-GQRR

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Financial Advice New Zealand acknowledges and welcomes the Financial Advice Provider Monitoring Insights report released by the Financial Markets Authority today. To echo the findings in the Financial Markets Authority report, there is a diverse range of financial advice businesses, delivery styles, and scope of advice, providing consumers with positive choice when seeking financial advice to help them achieve their financial future aspirations. “Great advice business, at their core, deliver great client experiences and we see that across the industry” says Nick Hakes. Read more: https://lnkd.in/gnMvBWFU

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Despite the overwhelming demand from SMEs for integrated financial services, adoption has been slow. Regulatory challenges and onboarding friction are significant hurdles. But the benefits – like streamlined processes, enhanced real-time visibility, stronger customer relationships – are too good to ignore 🤔   In his latest blog on Finextra, our CEO, Raman Korneu, explores why embedded payments are the future for SMEs 👉 https://lnkd.in/dafr84Jp #myTU #EmbeddedPayments #Fintech #SMEs #BaaS #Innovation #FinancialServices

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Australians using buy now, pay later (BNPL) services will soon be subject to new regulations. The government announced a plan to bring BNPL under the National Consumer Credit Protection Act, requiring providers to obtain credit licenses and perform basic credit checks. This move aims to protect consumers from potential debt spirals while fostering a competitive and innovative credit market. The reforms follow a surge in BNPL popularity, with nearly half of Australians reportedly using these services. Read more 👉https://lnkd.in/eCKU_KVq #FintechInvestment #BNPLregulation #BankingOperations #FinancialTechnology #FinTech #OpenBanking #API #AI #Digitalization #Technology #Australia #Innovation with SHAVIK Visit www.SHAVIK.ai

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"Serious and systemic misconduct..." What other systemic practices occur within the banking industry that have negative impacts on customers need addressing by regulators? What appetite is there to change? Where do you start in implementing stronger compliance? You speak to us! #risk #compliance #regulator #deceasedestates #systemicpractices #banking #financialservices #adoption #change # https://lnkd.in/g8AjAPVn

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Non-banks are offering a viable and flexible lending alternative to banks in New Zealand as they are able to adapt more quickly to a changing market and offer out-of-the-box solutions to mortgage advisers and their customers. That's one of the key takeaways from NZ Adviser's recent non-banks roundtable, which featured Avanti Finance general manager property Ian Boyce,Resimac New Zealand general manager Luke Jackson, and Pepper Money ANZ New Zealand country head Campbell Smith, along with mortgage advisers Connie Wang, director of Prosperity Finance, and Satyan Mehra CA, director of iConsult Mortgage Brokers. The roundtable discussed the prospects for the non-bank sector; how a changing economy affects lending markets; advisers’ evolving attitudes to both banks and non-banks; and the importance of relationships in keeping the system running and responsive to real-world demands. Read the full article here: https://lnkd.in/gG_fUv5w #nonbanks #nonbanklenders #mortgageadvisers #mortgageindustry

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BNZ’s recent survey highlights a growing awareness of open banking, but there’s still work to do across the industry to help New Zealanders fully understand its benefits. While 60% of respondents have heard of open banking, only 26% grasp its potential. The good news is that 73% are eager to learn more once they see the advantages. At BNZ, we’re focused on leading the way by: ▪ Partnering with innovative fintechs like BlinkPay and Volley to demonstrate real-world applications . ▪ Offering clear, accessible resources to educate our customers. ▪ Advocating for a strong consumer protection in legislation to give New Zealanders trust and confidence in the technology.   Already, more than 250,000 BNZ customers are benefiting from open banking services, and we see significant opportunities ahead. The government’s commitment to exploring early adoption in the public sector is another exciting step forward in building trust and understanding. For more on our survey and what it means for the future of open banking 👉 https://lnkd.in/gNUcSwvB

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At the Reserve Bank of Australia's Payments Sydney Board meeting on Friday they said the next review of retail payments regulation is expected to begin soon after anticipated changes to the Payment Systems (Regulation) Act (1998) pass parliament. This important review will cover all aspects of the RBA’s regulation of retail payments. These rules increasingly impact all Australians every day as we quickly move away from cash. The RBA will also seek views on a range of emerging issues. During this process, the Independent Payments Forum will advocate for fairer rules and fees for electronic payments and greater reliability for Australian businesses and their customers. For example, pointing out the inequity of #smallbusiness paying three times more than big business for payments. https://lnkd.in/gUNrZNQV #Payments #competition Brad Kelly Russell Zimmerman Peter Denman Gabby Taylor AACS (Australian Association of Convenience Stores) Council of Small Business Organisations Australia (COSBOA) Australasian Convenience and Petroleum Marketers Association (ACAPMA)

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As the payments landscape continues to change, banks also continue to change. As banks are making it increasingly difficult to access cash, it is important to have more effective and efficient means to pay your employee’s tips. OnTheMonee is a purpose built solution to streamline the administrative workload, time, and complexity that hospitality venues experience when paying tips to their employees. OnTheMonee eliminates spreadsheets, bank runs and enveloping cash, and is integrated with time-and-attendance software allowing the platform to calculate automatically. Tips are distributed instantly to employees via a digital wallet in the OnTheMonee app on their phones - exactly like cash, tangible, instant, but more secure. To Learn more: https://bit.ly/4cmNq7k   #hospitality #tips #digitalpayments #paymentsolutions #cashisdead  

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