Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 721 - 730 of 5291 results for "customer"

BNPL to be regulated under Credit Act

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
... Industry Association tell us that in 2022, BNPL created an additional $2.7 billion in new revenue for merchants, through new customer acquisition, increased basket sizes and increased customer satisfaction and retention." However, with those opportunities ...

Regulation, funding inhibits digital advice: Report

KARREN VERGARA  |  MONDAY, 22 MAY 2023
Several key risks are inhibiting digital advice providers from operating with confidence, a new report finds, one of which is the red tape that is preventing them from moving successfully forward. AMP's Digital financial advice market scan, together ...

Poor policy administration sees MLC Life pay $22m

JAMIE WILLIAMSON  |  FRIDAY, 19 MAY 2023
MLC Life will pay $10 million, in addition to $12 million in remediation, for failing to pay promised rehabilitation benefits. The life insurer was penalised by the Federal Court after it was found guilty of several breaches of the ASIC Act, the Corporations ...

Vanguard restructures retail unit, creates executive roles

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
... offerings. Renae Smith will become the chief of Personal Investor from July, hailing from AIA Australia where she was chief customer experience and operations officer. She will lead a new division responsible for the direct-to-consumer market, client ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
... systems were inadequate, and customers were let down. This misconduct represents a fundamental breach of trust between a customer and their financial services provider." AMP remediated over $5 million to the estates or representatives of deceased customers ...

ASX operations and customer lead exits

KARREN VERGARA  |  TUESDAY, 16 MAY 2023
The chief customer and operating officer for the Australian Securities Exchange has tendered her resignation after more than two years in the role. Val Matthews will exit over the coming months after joining the bourse in May 2019, initially as an executive ...

Liverpool Partners invests in AI

CHLOE WALKER  |  TUESDAY, 16 MAY 2023
The Sydney-based private equity investor has acquired a majority stake in Australian hyper-automation and artificial intelligence consulting firm Simplyai. As part of the deal, former Seven Group Holdings group chief operating officer and Accenture ...

Praemium names chief technology officer

CASSANDRA BALDINI  |  MONDAY, 15 MAY 2023
Richard Large has been appointed to the role of chief technology officer and will join Praemium's executive team immediately. He will be responsible for developing and executing the company's technology strategy and ensuring it remains at the ...

HCF Life under ASIC surveillance

CASSANDRA BALDINI  |  FRIDAY, 12 MAY 2023
... the contract could mislead the public and is unfair for a number of reasons. Firstly, it appears to deny coverage if a customer did not disclose a pre-existing condition and a medical practitioner forms an opinion that symptoms of the condition existed ...

ASIC revises IDR reporting framework

JAMIE WILLIAMSON  |  MONDAY, 8 MAY 2023
... implementation timeframe for internal dispute resolution data reporting. In total, 8600 financial firms will report their customer complaints data for the first time under the framework. The first group to do so comprised 97 large firms who reported ...