All posts by Doryan Gowty

Risk & Compliance Banking Royal Commission An Opportunity For Digital Innovation

Banking Royal Commission

Australia’s Banking Royal Commission delivered its final report at the start of February; the culmination of 14 months, 10,232 submissions and 7 rounds of public hearings into the banking, superannuation and financial services industry. The Commission uncovered a number of issues relating to account lifecycle management by banks, remuneration and incentive schemes that disadvantage customers and some serious examples of misconduct in a number of industries. The findings made by Kenneth Hayne will have serious consequences for organisations both now and into the future. Volume 1 of the final report runs to about 500 pages with an expansive list of recommendations. The enquiry looked into misconduct and the issue of culture and governance in each industry and the execution of regulation by both industry bodies and regulators. Banks and other financial institutions will need to demonstrate more rigour around the decisions they make and their key delegates will need to take more... [Read More]

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Analytics & Optimization Australian Home Loans – Why Analytic Pricing is Essential in 2019

residential mortgage pricing optimization

The Australian Competition and Consumer Commission (ACCC) handed down its final report on the Residential Mortgage Pricing Inquiry and it certainly had a lot to say about the current pricing of Australian home loans. The inquiry was initially set up to monitor the implementation of the Commonwealth Government’s Major Bank Levy in May 2017. The inquiry tasked the ACCC with monitoring Australia’s five largest mortgage lenders, each of whom was subject to the levy. Whilst their primary remit was to the monitor the conduct of the banks during the Bank Levy monitoring period, the ACCC also took a more holistic review of pricing practices throughout the industry and responses to regulatory events over the same period. The findings of the report centred on the following themes: The use of discretionary pricing and its lack of transparency Larger discounts going to those customers who are willing to shop around The additional... [Read More]

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