Money

Big tech is cashing in on the banking sector

Published

3 years ago

June 15, 2023

Australians have been granted access to a digital platform, which will facilitate the reporting of fraudulent payments en route or transferred to another bank.

The Fraud Reporting Exchange offers more targeted communication to help banks stop and recover as much money as possible when customers have paid scammers. 

Seventeen banks have joined the platform, which is operated by the Australian Financial Crimes Exchange.

The Commonwealth Bank recently found 64 per cent of Australians believe they receive more scam attempts today than 12 months ago.

The same survey found Australians reported receiving, on average, five scam calls, emails or messages a week, equating to over 250 attempts a year.

Ms Bligh is the CEO at the Australian Banking Association, who said it is imperative that consumers report a fraudulent or scam payment to their bank as soon as possible.

“The sooner that banks know about a fraud, the sooner they can take swift action to try to halt the payment before it gets to the scammers.” 

It comes as global tech platforms seek to unlock a new era of smart payments, where users can bank using apps or cards connected to their phones.

“Whether it’s your Apple phone or smartwatch, the number of transactions has increased by 8,000 per cent in the last three-and-a-half years,” Ms Bligh said.

“Banks actually have contracts with Apple that facilitate that. But certainly banks would say very loudly and clearly, and I think customers should too, if Apple had a deposit product in Australia that should be subject to all of the protections that a customer would get if they deposited with a bank,” she said.

Money

U.S. jobs report, Fed decisions, and Japan’s economic risks explained

January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

Published

3 hours ago

February 12, 2026

Harvey Vargas

January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

The January US jobs report shows a mixed picture for the economy, with payroll revisions and steady unemployment leaving analysts questioning the impact on Federal Reserve policy. We break down what the numbers mean for interest rates and market confidence.

US stock markets could face turbulence as investors digest the latest jobs data. David Scutt from StoneX explains how these figures may influence equities and what the outlook is for global markets.

Meanwhile, developments in Japan and a strengthening yen could spark new macroeconomic risks. From carry trades to unexpected shocks, we explore how these factors ripple across the global economy.

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#USJobsReport #FederalReserve #StockMarket #MacroRisks #JapanEconomy #GlobalMarkets #CurrencyTrading #EconomicUpdate

Money

Alphabet launches $20B bond to fund AI expansion

Alphabet’s $20B bond offering highlights investor confidence in AI growth, enabling funding without shareholder dilution.

Published

1 day ago

February 11, 2026

Harvey Vargas

Alphabet’s $20B bond offering highlights investor confidence in AI growth, enabling funding without shareholder dilution.

Alphabet has launched a record $20 billion bond offering to finance its massive AI infrastructure build-out, signalling strong investor confidence in the company’s growth strategy. The oversubscribed sale shows that investors are betting on Alphabet’s AI potential and long-term returns.

By using debt instead of equity, Alphabet can raise funds without diluting shareholders. The money will support AI research, advanced computing, and other strategic projects, cementing the company’s leadership in the sector.

Brad Gastwirth from Circular Technologies explains how corporate debt is reshaping tech financing and how investors perceive AI-linked bonds. This record issuance could set a trend for other tech companies looking to fund innovation.

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Money

AI tax tool sparks market turmoil for financial firms

Major financial firms’ stocks fell sharply after an AI tax tool launch, raising investor fears of disruption in advisory services.

Published

1 day ago

February 11, 2026

Harvey Vargas

Major financial firms’ stocks fell sharply after an AI tax tool launch, raising investor fears of disruption in advisory services.

Shares of major financial services firms tumbled after the launch of a new AI-powered tax planning tool. LPL Financial dropped nearly 11%, while Charles Schwab and Raymond James Financial fell more than 9%, signalling investor concern over AI disrupting traditional advisory services.

Morgan Stanley also saw a 4% decline as fears grow that AI could replace some of the most profitable offerings of established firms. Earlier this year, the introduction of other AI models already caused turbulence in software stocks, suggesting this could be a broader trend affecting multiple sectors.

The iShares U.S. Broker-Dealers and Securities ETF was down 4% on Tuesday, reflecting the market-wide uncertainty surrounding AI adoption in finance. Investors are closely watching whether AI will complement or cannibalise the industry’s core services.

#AIImpact #WallStreet #FinancialMarkets #InvestingNews #MorganStanley #CharlesSchwab #RaymondJames #FinTech