Latest Intelligence in Australia

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Type Product title / description Pub Price
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Jetstar enters the lucrative Australian travel card market

Jetstar, the largest low-cost carrier in Asia Pacific by revenue, has launched the Jetstar Travel Card in Australia. The reloadable prepaid card allows consumers to make transactions during their travels in up to nine different currencies.

Published By Datamonitor
01 Mar 2012
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Australian government considers the delay of financial advisor commission reform

The Australian government is considering a proposal from the financial advisor community to delay reforms aimed at eliminating commission and aligning financial planners' interests with those of their customers. If these industry demands are met, new legislation will be deferred for a year until July 2013, allowing financial advisors to amass a further A$150m.

Published By Datamonitor
28 Feb 2012
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Slim margins may be hard to shake off for wealth managers

The big players in Australian banking have all reported strong half year results in February, but their wealth management divisions have suffered due to global instability and clients shifting to safe but low fee earning assets. The impact of global instability will fade with greater economic certainty, but the latter development is likely to be an ongoing concern for wealth managers globally.

Published By Datamonitor
27 Feb 2012
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Australia's two-state economy makes Western Australia and Queensland attractive to wealth managers

Australia has become a two-speed economy, with resource-driven booms occurring in Western Australia and Queensland while other states are left behind. As a result, wealth in resource-rich states has been growing more rapidly, making them attractive target markets for wealth managers. However, with the mining boom highly dependent on China, any hiccups in export demand should be observed carefully.

Published By Datamonitor
24 Feb 2012
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Mass affluent customers are a growing segment in Australia

A new Datamonitor report has found that the mass affluent target segment in Australia will grow strongly over the next few years. The report forecasts that mass affluent banking customers will reach 3.8 million in number by 2015, up by 1 million consumers from 2011. Mass affluent growth will be strong but there are challenges to these rosy projections.

Published By Datamonitor
23 Feb 2012
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Bankwest may have been propped up by Reserve Bank of Australia during the financial crisis

Documents tendered in an Australian court case suggest that Bankwest was kept afloat by RBA during the financial crisis, receiving up to A$3.75bn a month in funding. The troubled bank was subsequently purchased by Commonwealth Bank Australia at a book discount. The revelation challenges the prevailing view that Australia escaped the crisis without resorting to bank bailouts.

Published By Datamonitor
17 Feb 2012
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Australia: new Islamic Index is expected to appeal more to investors from overseas

Following last year's introduction of an Islamic equity fund, Thomas Reuters and Crescent Wealth have launched their first Islamic Australian index. The index offers domestic and international investors a tool to invest in the Australian market in accordance with Sharia law, although it is a product that will appeal more to overseas investors.

Published By Datamonitor
17 Feb 2012
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How will Australia's "Ruddprime" mortgages affect an uncertain market?

As concerns about Australia's property market deepen, some recent mortgages taken out during conditions of low interest rates and increased government subsidies are coming under special scrutiny by analysts. Taken out during 2008 and 2009, this cohort of mortgages has wittily been dubbed "Ruddprime," after the prime minister of that era, Kevin Rudd.

Published By Datamonitor
06 Feb 2012
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Australia: MasterCard's QkR targets young and tech-savvy moviegoers

In conjunction with Commonwealth Bank Australia, MasterCard has developed an app, known as QkR, which allows moviegoers to order and pay for their food with their smartphones during a movie session. The pilot is being trialed at two Hoyts La Premiere movie theatres in Sydney.

Published By Datamonitor
01 Feb 2012
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Growing UBank accounts for a rising proportion of NAB's funds

The online-only savings account provider UBank, owned by NAB, has grown strongly and as a result is holding an increasing proportion of the bank's household deposits. This is both an advantage and a challenge. Higher market share is of course positive, but the UBank business model has lower margins compared to the main NAB model.

Published By Datamonitor
30 Jan 2012

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