The company’s predictive models have been using statistics about an area’s religious composition and eating habits to predict how customers will behave.
Now that its mortgage book has been hived off to Blackstone, the chief executive of the multinational bank in Australia says it will target the top end of town.
A property market slowdown had been expected following the RBA rate rises but this has been exacerbated by the budget changes and the Iran war, says the bank.
Australian banks are gradually stepping up their use of digital currencies, with ANZ to issue a “tokenised deposit” this year to help corporate treasurers.
Equifax’s latest data on demand for mortgages points to a worrying decline in activity – not only from property investors but from first-time buyers too.
Anthony Miller has appointed Richard Heeley to the top technology position as big banks increase spending and focus on the roll-out of artificial intelligence.
The Trump administration’s restriction of access to Anthropic models creates a “sovereign access risk” for the country’s big banks, says the banking regulator.
