AMP Bank has put new applications for investor property loans on hold... NAB Ventures to invest 50m in fintech
AMP puts a halt on investor property loans
AMP Bank has put new applications for investor property loans on hold to 'avoid regulatory pressure amid a heated property market' and effective yesterday, according to an article in The Australian.
AMP will also increase the variable interest rate across all its existing investor property loans by 0.47%.The bank is the first to put a halt on investor lending and their example is expected to prompt other small banks and credit unions to follow suit, The Australian reports.
AMP is expected to keep investor lending on hold until later in 2015.
NAB Ventures to invest 50m in fintech
National Australia Bank has created an "innovation fund", NAB Ventures, and is looking to invest $50 million over the next three years in Australian and offshore start-ups, according to an article in the Financial Review.
The aim is to boost the bank's development of customer-centric products and applications and support the realisation of an "end-to-end innovation ecosystem" in the bank.
NAB's head of products and markets Antony Cahill to the Financial Review, "We don't fear disruption. We need to embrace it and understand how do we give the best possible experience to our customers. Traditional models of banking are changing. There are new ideas and thinking identifying how the banking model can change"
NAB Ventures is expected to start investing in 2016.
AMP Bank has put new applications for investor property loans on hold to 'avoid regulatory pressure amid a heated property market' and effective yesterday, according to an article in The Australian.
AMP will also increase the variable interest rate across all its existing investor property loans by 0.47%.The bank is the first to put a halt on investor lending and their example is expected to prompt other small banks and credit unions to follow suit, The Australian reports.
AMP is expected to keep investor lending on hold until later in 2015.
NAB Ventures to invest 50m in fintech
National Australia Bank has created an "innovation fund", NAB Ventures, and is looking to invest $50 million over the next three years in Australian and offshore start-ups, according to an article in the Financial Review.
The aim is to boost the bank's development of customer-centric products and applications and support the realisation of an "end-to-end innovation ecosystem" in the bank.
NAB's head of products and markets Antony Cahill to the Financial Review, "We don't fear disruption. We need to embrace it and understand how do we give the best possible experience to our customers. Traditional models of banking are changing. There are new ideas and thinking identifying how the banking model can change"
NAB Ventures is expected to start investing in 2016.
