Open banking holds enormous potential to reshape the banking industry and the broader economy, as well bringing greater control and benefits to Australian consumers and small businesses, according to a fintech practice leader at professional services firm KPMG.

Australia's No.1 Bank, the Commonwealth Bank, has unveiled the latest version of what it says is "Australia’s number one banking app", CommBank app 4.0, with major and very useful upgrades.

Venture capital invested in Australian startups hit a record US$1.23 billion in the 2018/19 financial year, with the potential of start-ups to change the shape of Australia’s future economy, according to a new global report.