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Search ResultsShowing 1 - 10 of 100+ results for "ADI"
Catholic Super bank implements Temenos
KANIKA SOOD  |  MONDAY, 12 APR 2021
... December 2020, Challenger said it would spend $35 million to buy Catholic Super's banking business , after considering an ADI license for two years. At the time, Bell Porter's Lafitani Sotiriou said the acquisition would give Challenger the opportunity ...
APRA outlines indemnity measures
ANNABELLE DICKSON  |  TUESDAY, 23 MAR 2021
The prudential regulator has written to authorised deposit-taking institutions (ADIs) to ensure the management of risks with indemnities in divestment transactions. APRA warns that without appropriate controls, indemnities can expose ADIs to significant ...
APRA commends super funds on tough year
ELIZA BAVIN  |  FRIDAY, 5 FEB 2021
The prudential regulator had mostly positive things to say around Australia's superannuation industry last year as it released its annual review. The APRA 2020 Year in Review highlighted the difficult circumstances faced by those under its watch, with ...
NAB swallows up neobank
ELIZA BAVIN  |  FRIDAY, 29 JAN 2021
... management company, and led by chief executive Robert Bell, 86 400 launched the mobile-led digital bank and was granted an ADI licence in July 2019. Under the acquisition agreement, its 85,000 customers, $375 million in deposits, $270 million in approves ...
Challenger welcomes board director
ANNABELLE DICKSON  |  WEDNESDAY, 20 JAN 2021
... entered into an agreement with an expected settlement date of March 2021. Challenger will fund the $35 million price plus the ADI capital requirements via a $100 million distribution in the March quarter.
Xinja returns deposits
ANNABELLE DICKSON  |  WEDNESDAY, 20 JAN 2021
... customer deposits after it withdrew its banking products and announced the return of its authorised deposit-taking institution (ADI) licence. The Australian Prudential Regulation Authority began monitoring Xinja's return of deposits , worth more than ...
Challenger to buy industry-fund-owned bank
KANIKA SOOD  |  WEDNESDAY, 23 DEC 2020
... a wider range of customers. Challenger managing director and chief executive Richard Howes said the firm has considered an ADI licence over the past two years, and MLMF's investment in its technology will allow Challenger to scale and streamline the ...
Xinja ceases banking
ELIZA BAVIN  |  WEDNESDAY, 16 DEC 2020
... will be monitoring the return of deposits by Xinja Bank as it ceases to operate as an authorised deposit-taking institution (ADI). Xinja made the decision to withdraw its transaction and savings account products and return its ADI license after what ...
Poor progress on human rights revealed
ELIZABETH MCARTHUR  |  TUESDAY, 17 NOV 2020
The sad state of human rights concerns among the world's largest corporations has been laid bare in a new benchmarking report, finding little to no progress has been made in the last 12 months. The World Benchmarking Alliance released the fourth edition ...
Responsible lending laws to be revoked
ANNABELLE DICKSON  |  FRIDAY, 25 SEP 2020
... result ASIC will no longer enforce the responsible lending laws for banks however, authorised deposit taking institutions (ADI) will continue to comply with APRA's lending standards which comprise of a sound credit assessment and approval criteria. The ...
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