Major banks cop mortgage pricing inquiry as competitors nip at their heels
The ACCC has been directed to launch a mortgage pricing inquiry that will examine barriers for consumers looking to ditch the big banks.
‘Blurred lines’: Businesses turn to consumer credit as access to finance worsens
Credit conditions for small businesses have worsened further over the last 12 months as housing prices fall, increasing risks for entrepreneurs.
ASIC approves July 1 business banking reforms, but delays decision on controversial definition
ASIC has given a partial tick of approval to proposed changes to how small businses banking is regulated, but more controversial changes remain in question.
“A phenomenal amount of money”: How Lumi bagged $8 million at less than a year old
Small-business lending startup Lumi has raised $8 million, bringing its total investment to almost $40 million, although it’s still less than a year old.
Prospa takes second crack at IPO after 12-month delay, targeting valuation of $610 million
SME lending startup Prospa is having a second go at listing on the ASX, after an initial run-in with ASIC led to a 12-month delay.
Fintech Waddle raises $4 million as it gears up for international banking partnerships
SME-lending startup Waddle has secured $4 million in Series A funding, as the fintech gears up for significant partnerships within the banking sector.
If it ain’t broke: Why mortgage broker commissions aren’t the problem
While there are always bad apples in every industry, removing commissions would be a blunt instrument with plenty of downsides.
Bank watchdogs on notice: What does the royal commission mean for small business lending?
Regulators are on notice to support changes to the banking code as SME lending looks to a brighter 2019 following the royal commission.
CBA extends small biz olive branch with quicker decisions for “eligible existing” clients
The Commonwealth Bank wants to rebuild trust among its SME clients, starting out with a range of policy changes aimed at doing just that.
Veteran Aussie fintech Capify set to ramp up operations with $135 million credit facility from Goldman Sachs
Alternative-lending startup Capify has secured a $135 million credit facility, to reach more SMEs and take its business to the next level.
A misguided $2 billion: What good is small-business capital if founders don’t know how to use it?
Over 70% of small businesses have no written plan of any kind, so what use is a $2 billion government-funded securitisation fund?
“Game-changing” government plan pledges $2 billion for capital-starved SMEs
The government has committed $2 billion to making it easier for SMEs to access finance while supporting the creation of a new commercial growth fund.
