Flash Forward

Thoughts about the future of finance and foreign currency transfer.

ASIC enforcement taskforce recommends tightening bank rules to protect customers

By Nicolas Steiger on

Banks, financial services houses and credit companies will face public naming and shaming over bad behaviour in a suite of major reforms being considered by the Turnbull government. However, the reforms put forward by the Australian Securities and Investments Commission more »

Tagged in: finance, regulation, digital currency, australia

ASIC’s Greg Medcraft lashes bank ‘oligopoly’

By Nicolas Steiger on

Chairman of the corporate watchdog Greg Medcraft lashed out at the banking “oligopoly” for chipping away at customer trust with sector-wide interest rate hikes out-of-cycle with the Reserve Bank of Australia. “I think every time you do an out-of-cycle increase more »

Tagged in: finance, regulation, australia, international money transfers, currency conversion, compliance

The Real Cost of Foreign Exchange Conversions - What the banks don't want you to know.

By Nicolas Steiger on

Do you know what the actual foreign exchange conversion rate is? You probably know the conversion rate your bank is charging you, but did you know there is another "higher" rate known as the market rate? In fact, more »

Tagged in: currency conversion, exchange rates, global payments, regulation, digital currency, international money transfers

5 Customer Engagement Best Practices

By Sophie Green on

We can find a hundred articles a day online today about “customer engagement” but to me, a good deal of it sounds like lip service – slick advice about how to appear deeply interested in and connected to your customer, and more »

Tagged in: finance, regulation, compliance, digital currency, innovation, trading

AUD CAD Exchange Rate Slides after AUD-Damaging Trade Report

By Tim Strube on

The Australian Dollar has dropped against the Canadian Dollar due to a concerning report about AU-US ties. The report looked at Australia’s relationship between the US and China, and the potential difficulties of trying to alter these relationships. With more »

Tagged in: AUD, finance, exchange rates, regulation, digital currency, ripple

Are you paying for your banker's $600 lunch?

By Tim Strube on

Big banks are overcharging you by bouncing your money around the globe in a giant shell game while they collect fees and enjoy $600 lunches, on you. In this article, we’ll explore how to stop paying for your banker's more »

Tagged in: finance, regulation, migration, international money transfers, currency conversion, emigration

ANZ, Westpac admit breaches in forex trading

By Tim Strube on

ANZ and Westpac have followed rivals and yielded to the corporate regulator’s investigation into banks’ foreign exchange businesses, agreeing to oversight and changes after traders shared confidential client information and traded to benefit themselves. Similarly to the CBA and more »

Tagged in: regulation, banking, global payments, digital currency, australia

Ripple Supports Efforts to Drive Thoughtful Regulation

By Michael on

Innovation in banking often results from the convergence of three key domains: financial services, technology, and regulations. The regulatory framework is a crucial aspect of innovation. When crafted in a balanced, proactive way, regulations can directly drive positive innovation and more »

Tagged in: ripple, innovation, regulation, digital currency, technology, compliance

President Trump could be good for the economy, says Reserve Bank governor Philip Lowe

By Tim Strube on

Reserve Bank governor Philip Lowe has predicted some of the Trump administration's economic policies could be good for Australia and the global economy while warning it could also turn out "very badly" if America retreats from the international more »

Tagged in: currency conversion, international money transfers, banking, overseas finance, finances, regulation

European Central Bank to Trump: 'We Are Not Currency Manipulators'

By Tim Strube on

The European Central Bank rejected U.S. accusations of currency manipulation on Monday and warned that deregulating the banking industry, now being openly discussed in Washington, could sow the seeds of the next financial crisis. ECB President Mario Draghi said more »

Tagged in: currency conversion, banking, exchange rates, regulation, finance

How to stop banks behaving badly

By Tim Strube on

Stephen Bartholomeusz writes in The Australian "On the eve of Christmas Deutsche Bank and Credit Suisse reached a settlement agreement with the US Department of Justice for their roles in the subprime crisis that triggered the wider financial crisis more »

Tagged in: remittances, global payments, exchange rates, banking, regulation, finances

CBA and NAB admit impropriety in foreign exchange trading

By Tim Strube on

The Age writes "Commonwealth Bank and the National Australia Bank have entered into enforceable undertakings with ASIC after foreign exchange traders were revealed to have front run orders on personal accounts and triggered client stop-loss orders. "The extraordinary more »

Tagged in: banking, regulation, compliance, overseas finance, digital currency, ripple

US Regulator Will Start Issuing Bank Charters for Fintech Firms

By Tim Strube on

Office of the Comptroller of the Currency will allow upstarts to become ‘special purpose national banks’ Firms offering online loans, smartphone payments and other financial technology products would get new flexibility to expand and further shake up the U.S. more »

Tagged in: regulation, digital curency, ripple, technology, innovation, blockchain