Featuring data and payments fraud trends for calendar year 2023, the Australian Payment Fraud Report 2024 highlights current trends and allows us to measure the success of existing, and develop further, industry mitigants. Key findings: Payment card fraud rate is up 22 per cent (70.2 cents per $1,000) in calendar year 2023 – the highest […]
Category: TOPIC
AusPayNet – Payments Monitor
May edition […]
Targeting scams: Report of the National Anti-Scam Centre on scams activity 2023
This is the first annual report on scams activity released by the National Anti-Scam Centre since it was established on 1 July 2023. This report provides insight into scams reported by Australians in 2023 and highlights the impact of government and private sector initiatives to combat scams. Scammers are opportunistic and agile financial criminals. They […]
Read More… from Targeting scams: Report of the National Anti-Scam Centre on scams activity 2023
Great Southern Bank implement digital banking platform for small businesses
Great Southern Bank, which received Canstar’s award for Customer Owned Bank of the Year in 2022 has launched a digitally-led banking platform for small businesses, supported by Indue’s New Payments Platform (NPP/PAYTO) capability. Using proprietary technology developed by Indue’s partner Constantinople, the new platform will seamlessly integrate with small to medium-sized enterprise (SME) business management […]
Read More… from Great Southern Bank implement digital banking platform for small businesses
Scam losses decline, but more work to do as Australians lose $2.7 billion
The National Anti-Scam Centre’s collaborative efforts across government, law enforcement, consumer organisations and industry have boosted the community’s fight against financial crime, as the latest Targeting Scams report reveals a 13.1 per cent decline in reported losses to $2.74 billion in 2023. The report compiles data reported to Scamwatch, ReportCyber, the Australian Financial Crimes Exchange […]
Read More… from Scam losses decline, but more work to do as Australians lose $2.7 billion
Regulation, challenges, innovation: Inside AusPayNet Summit 2023
The Indue team was excited to sponsor and attend last week’s AusPayNet Summit, an annual end-of-year highlight for the payments sector, bringing together industry experts, decision-makers, innovators, and regulators for stimulating discussions on the future of payments in Australia. The theme of this year’s AusPayNet Summit 2023 ‘A Turning Point’ – focused on how the […]
Read More… from Regulation, challenges, innovation: Inside AusPayNet Summit 2023
Connect ID
The innovation function at Indue focuses on new opportunities that solve existing problems or create new opportunities for our clients. An area we have been exploring is in the Digital Identity space with AP+ Connect ID solution. What is Digital Identity and what is its purpose? A digital identity is typically defined as a relationship […]
Development of industry Confirmation of Payee Solution
Australian Payments Plus (AP+) has resolved to work with NPP Participants to deliver a Confirmation of Payee service for payments made using BSB and Account numbers. Confirmation of Payee will help reduce certain types of scams that involve misdirection of payment to an account that does not belong to the intended payee as well as […]
Read More… from Development of industry Confirmation of Payee Solution
AusPayNet Annual Review 2023: A Turning Point
The AusPayNet 2023 Annual Review, ‘A Turning Point’, offers insights into AusPayNet’s important work at a critical time for the banking and payments industry. Some key highlights include: Successful leadership of the first phase of Australia’s ISO 20022 Industry Migration Program Significant progression of work to become an authorised standards-setting body Facilitation of ECF to […]
Read More… from AusPayNet Annual Review 2023: A Turning Point
Indue Board Strengthens Leadership and Bolsters Financial Expertise with Appointment of Byron Fuller
We are delighted to announce the appointment of accomplished business leader Byron Fuller as a Director to the Indue Board, effective June 2023. Indue Chairman Frank Gullone welcomed Byron to the Board, noting the extensive expertise in banking, finance, treasury, risk management, and strategy that he will bring to the role. “As a strategic and […]
