The world’s foreign exchange market is one of the most traded financial markets, with an average turnover of a staggering $6.6 trillion per day.

Within that market, the Australian dollar has a significant share of traded currencies, and is increasingly susceptible to fraud, AML/CTF and compliance risks.

Today, more than ever, the demand for faster and easier […]

Supervisors of the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act) have published a guideline which replaces the Amended Identity Verification Code of Practice – Explanatory Note (the Code) issued in December 2017.

The guideline provides further clarification to reporting entities on how they can use biometrics as a single source in the Electronic […]

12 July 2021: Auckland, New Zealand: Data and analytics firm illion supports the New Zealand Government’s decision to implement a new legislative framework to establish a consumer data right (CDR).

This is a new policy initiative which aims to allow consumers to access and share their data, giving them greater choice and control over how it […]

In the fast world of finance, time is money. Nobody understands this more than NZCU Baywide, who have utilised illion’s Application Process Interface (API) to slice through the time barrier, giving brokers instant access to automated loan application processing.
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Previously, any loan submission had to be entered manually into NZCU Baywide’s loan decisioning portal – a […]

A key litmus test for the state of the economy is the number of days it takes for overdue bills to get paid.

illion’s Trade Late Payments Report is the most comprehensive in the market. And our latest report for the 2020 December quarter shows the New Zealand economy has remained resilient.

For much of 2020, payment […]

Forecasting spending after one of the most volatile trading periods for a generation is no mean feat.

We’ve crunched the numbers on recent spending patterns and the results may surprise you.

In the weeks following the election, the wealthy have shown more frugal spending habits compared with lower income earners.

But it’s good news overall: green shoots are […]

Drawing on anonymous real data from the actual banking transactions of about 9,000 Kiwis, we can disclose for the first time the detailed spending habits of New Zealanders in March as they prepared for the nationwide lockdown.

So too, we can show how those spending habits changed during the lockdown itself in April and how they […]

For more information on what we are seeing in the New Zealand economy, join our next webinar on Wednesday 30 September at 2PM.
Prime Minister Jacinda Ardern last week publicly rebuked US President Donald Trump after he claimed New Zealand was suffering a ‘big outbreak’ of COVID.

“We are still one of the best-performing countries in […]