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Cuscal
Cuscal Limited is an Australian company that predominantly provides transactional banking, liquidity and capital management services and products to institutional customers including credit unions, mutual banks and superannuation funds. Cuscal is regulated by the Australian Prudential Regulation Authority (APRA) as an Australian authorised deposit-taking institution (ADI), and by the Australian Securities & Investments Commission (ASIC). It is a member of EFTPOS Payments Australia and the Australian Payments Clearing Association. Cuscal has an A+ credit rating. Cuscal was established in 1992 as the Credit Union Services Corporation Limited and became Credit Union Services Corporation (Australia) Limited before changing its name to Cuscal Limited in December 2005. Cuscal replaced the state based credit union bodies, which had been in operation since 1956. Cuscal was incorporated as a Special Service Provider (SSP) under the financial institutions scheme, and assumed a role of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EFTPOS
Electronic funds transfer at point of sale (EFTPOS; ) is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale. EFTPOS technology was developed during the 1980s. In Australia and New Zealand, it is also the brand name of a specific system used for such payments; these systems are mainly country-specific and do not interconnect. In Singapore, it is known as NETS. Debit and credit cards are embossed plastic cards complying with ISO/IEC 7810 ID-1 standard. The cards have an embossed bank card number conforming with the ISO/IEC 7812 numbering standard. History EFTPOS technology originated in the United States in 1981 and was rolled out in 1982. Initially, a number of nationwide systems were set up, such as ''Interlink'', which were limited to participating correspondent banking relationships, not being linked to each other. Consumers and merchants were s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Velocity Frequent Flyer
Velocity is the frequent-flyer program of Virgin Australia Holdings. History Velocity was launched by Virgin Blue (later renamed Virgin Australia) in 2005 as Velocity Rewards, with partner National Australia Bank offering a companion credit card. Initially, Velocity differed from most other frequent flyer programs with points earned being based on the cost of a flight, rather than distance. Velocity members originally earned 6 points per dollar spent on Virgin Blue flights. By 2007, points earned in loyalty programs operated by Westpac, American Express and Diners Club could be transferred to Velocity Rewards, as well as from the ANZ loyalty program from September 2008. As part of Virgin's effort to attract business travelers, status levels were introduced to the program in late 2007. Alongside the entry-level "Red" status, members could attain "Silver" and "Gold" status, each with its own set of benefits. With the introduction of status levels, the earning rate was changed: Re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sydney
Sydney ( ) is the capital city of the state of New South Wales, and the most populous city in both Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Sydney Harbour and extends about towards the Blue Mountains to the west, Hawkesbury to the north, the Royal National Park to the south and Macarthur to the south-west. Sydney is made up of 658 suburbs, spread across 33 local government areas. Residents of the city are known as "Sydneysiders". The 2021 census recorded the population of Greater Sydney as 5,231,150, meaning the city is home to approximately 66% of the state's population. Estimated resident population, 30 June 2017. Nicknames of the city include the 'Emerald City' and the 'Harbour City'. Aboriginal Australians have inhabited the Greater Sydney region for at least 30,000 years, and Aboriginal engravings and cultural sites are common throughout Greater Sydney. The traditional custodians of the land on which modern Sydney stands are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, smaller islands. With an area of , Australia is the largest country by area in Oceania and the world's List of countries and dependencies by area, sixth-largest country. Australia is the oldest, flattest, and driest inhabited continent, with the least fertile soils. It is a Megadiverse countries, megadiverse country, and its size gives it a wide variety of landscapes and climates, with Deserts of Australia, deserts in the centre, tropical Forests of Australia, rainforests in the north-east, and List of mountains in Australia, mountain ranges in the south-east. The ancestors of Aboriginal Australians began arriving from south east Asia approximately Early human migrations#Nearby Oceania, 65,000 years ago, during the Last Glacial Period, last i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services
Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer finance, consumer-finance companies, brokerage firm, stock brokerages, investment management, investment funds, individual asset managers, and some government-sponsored enterprises. History The term "financial services" became more prevalent in the United States partly as a result of the Gramm-Leach-Bliley Act, GrammLeachBliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge. Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the Takeover, acquisit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Superannuation
A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "retirement plan" and "superannuation" tend to refer to a pension granted upon retirement of the individual. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or trade unions. Called ''retirement plans'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) is a statutory authority of the Australian Government and the prudential regulator of the Australian financial services industry. APRA was established on 1 July 1998 in response to the recommendations of the Wallis Inquiry. APRA's authority and scope is determined pursuant to the . Regulatory scope APRA was established on 1 July 1998. It oversees banks, credit unions, building societies, friendly societies, general insurance, health insurance, reinsurance, and life insurance companies, and most members of the superannuation industry. It ensures that these institutions keep their financial promises; that is, that they will remain financially sound and able to meet their obligations to depositors, fund members and policy holders. APRA currently supervises institutions holding A$8.6 trillion in assets for Australian depositors, policyholders and superannuation fund members. APRA is largely funded by levies on the financial inst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Authorised Deposit-taking Institution
Financial institutions in Australia are only permitted to accept deposits from the public if they are authorised deposit-taking institutions (ADIs). The ADI’s authority is granted by the Australian Prudential Regulation Authority (APRA) under the ''Banking Act 1959'' (Cth). The term was adopted to formalise the right of non-bank financial institutions — such as building societies, credit unions and friendly societies — to accept such deposits. All ADIs are subject to the same prudential standards as banks but for a corporation to use word 'bank', 'building society' and 'credit union' in its name, it must meet certain requirements. The concept of an ADI replaced that of "bank" following the recommendations of the Wallis Report in March 1997. The statutory requirements of an ADI are elucidated in case ''Commissioners of the State Savings Bank of Victoria v Permewan, Wright & Co Ltd'' (1914). The case was seminal in characterising essential elements of a bank as being the col ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Securities & Investments Commission
The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors. ASIC was established on 1 July 1998 following recommendations from the Wallis Inquiry. ASIC's authority and scope are determined by the ''Australian Securities and Investments Commission Act 2001''. ASIC, which reports to the Treasurer, is responsible for the administering the following legislation: * ''Australian Securities and Investments Commission Act 2001'' (ASIC Act) * '' Business Names Registration Act 2011'' * ''Corporations Act 2001'' (Corporations Act) * ''Insurance Contracts Act 1984'' * ''National Consumer Credit Protection Act 2009'' (National Credit Act) Additionally, ASIC is also responsible for administering parts of the following legislation: * ''Banking Act 1959'' * ''Li ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Payments Clearing Association
Australian Payments Network Limited (AusPayNet), formerly the Australian Payments Clearing Association (APCA) is the self-regulatory body set up by the payments industry to improve the safety, reliability, equity, convenience and efficiency of payment systems in Australia. AusPayNet has over 140 members which include Australia's leading financial institutions, such as banks, building societies and credit unions, as well as major retailers and other service providers. AusPayNet administers a number of payment systems in Australia. AusPayNet sets, manages and develops regulations, procedures and standards governing payments clearing and settlement within Australia. Payments systems covered by AusPayNet's rules include cheques, direct debits and credits, aspects of ATM and EFTPOS transactions, high value payments and the distribution of wholesale cash. Its role includes strategic direction and regulatory policy for the Australian payments system. AusPayNet provides a venue for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BPAY
BPAY, (BPAY Group Holding Pty Ltd), is an Australian electronic bill payment SaaS company which facilitates payments made through a financial institution's online, mobile or telephone banking facility to organisations which are registered BPAY billers. BPAY is the registered trading name of BPAY Pty Ltd, a wholly owned subsidiary of Cardlink Services Limited. Cardlink is a self-regulating organisation owned equally by the four major Australian banks: Australia & New Zealand Banking Group, Commonwealth Bank, National Australia Bank and Westpac. History BPAY was launched, on 18 November 1997, as an electronic bill payment system for bill payments by phone. It was the world's first single bill payment service adopted across a national banking sector. In 1998, 16% of Australian households had residential internet service; ten years on, the figure had risen to 67%. BPAY is considered a driver for online banking. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
