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A new report published by illion reveals that the average Australian mortgage holder could be $15,000 worse off each year, with rising servicing costs and inflation pressures. This may lead to a much broader economic impact which could send Australia…
The risk of credit default, as inflation and interest rates rise, is highest among borrowers who refinanced recently, especially if they are under 35, according to new research.
Credit bureau illion has released its latest Mortgage Nation 2 report, which says…
The banking transaction data available through open banking offers a powerful add-on to credit reporting data and internal credit scores, giving lenders greater confidence when assessing loan applications from “credit immature” borrowers.
This is the key finding of an illion study…
New Russian sanctions have serious implications for global supply chains
To mitigate legal risks, any businesses potentially exposed to Russian clients or suppliers should perform ad hoc sanctions screenings immediately, and be alert to the evolving situation.
This involves checking that any…
With Australians now sharing their financial data, new opportunities are opening for both small and large businesses.
Consumer awareness and confidence about the benefits of data sharing is growing, as greater competition in the financial services market improves customer experiences.
For businesses…
Non-individual customers can present a higher level of risk than individual customers.
Verifying the identity of the beneficial owners behind a complex business structure requires much greater due diligence.
One key obligation is to consider the various risks these beneficial owners may…
We have recently announced that Optus is the first company to provide partial CCR account data to credit bureaus.
As partial CCR data does not include a customer’s repayment history, its important credit providers understand how to interpret the data.
In light…
The world’s foreign exchange market is one of the most traded financial markets, with an average turnover of a staggering $6.6 trillion per day.
Within that market, the Australian dollar has a significant share of traded currencies, and is increasingly susceptible…
AUSTRAC has released a risk assessment of the Non-Bank Lending and Financing sector (NBLFs).
This insightful report has confirmed AUSTRAC’s overall assessment of the money laundering and terrorism funding risk for NBLFs as medium, however specific risks that need to be…
For more than half a century, the United Nations Universal Declaration of Human Rights and other widely endorsed conventions have established a global framework for promoting respect for human rights.
Despite these worthy initiatives, the ability to deter human rights violations…