Australia and New Zealand. Two nations so alike, but in other ways so different; an antipodean version of the US and Canada, or England and Ireland. Finance forms one of those key differences, but the differences seen now are likely to get smaller over time, as globalization continues unabated and the world takes an increasingly consistent and collaborative approach to money. In this article we’ll specifically be comparing the Australian and Kiwi approaches to electronic payments. We’ll look at the current state of affairs, where things might be headed, and the trends that might drive this change. Payment tech: Australia…
Author: Tal Weiser, Managing Director, Sales, APAC Payments, Finastra
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The groundswell of digitalisation that forced whole industries and services online in 2020 during the early onset of the COVID-19 pandemic, only continued growing in 2021 despite the return to office-based work and vaccine rollouts across the globe. Corporations, SMEs, and end users alike, having tasted the widespread benefits of e-commerce, digital payments, and other seismic changes, were simply not going back. The migration of businesses online led to upstart fintechs mushrooming to deliver specific verticals that clients were demanding in the new normal, such as wealth management (robo-advisors), SME lending, and buy-now pay-later (BNPL) offerings. Some legacy banks and…