ARCA News Feed https://www.arca.asn.au/news en ARCA Executive Breakfast Announcement - Bookings Now Open! https://www.arca.asn.au/newsarca-executive-breakfast-announcement-bookings-now-open-1.html https://www.arca.asn.au/newsarca-executive-breakfast-announcement-bookings-now-open-1.html

 

Our topic is ASIC’s recent credit card work and what it means for the evolution of responsible lending. Following on from the Royal Commission, regulators are fine-tuning their expectations regarding credit provider behaviour and it is great timing to provide industry insights into best practice for understanding and meeting their new requirements.

 

Our keynote speaker in Melbourne is Richard McMahon, Senior Manager, Deposit-Takers, Credit & Insurers, ASIC
Our keynote speaker in Sydney is Felicity Natoli, Group Senior Manager, Deposit-Takers, Credit & Insurers, ASIC
 

Key Insights addressed will include:

  • ASIC’s review of credit cards and how it has influenced CP 303
  • The ability of Open Banking to assist with meeting ASIC’s expectations
  • Recommendations on ‘problematic debt’, meeting ‘actual needs and use’ and balance transfers
  • What insights does REP 580 give into ASIC’s current regulatory approach?

Panel discussion:

A panel will then convene to discuss Challenges and opportunities for credit providers, including:
  • Product profitability implications
  • Have the current regulations failed, or have those being regulated failed to look after their customers?
  • At what point do the regulators move beyond the expectation that a CP uses the customer data that it ‘holds’, to using the data that it ‘can get’?
  • Implications for CCR uptake.
  • Consequences for the new regulatory approach for product design, governance, competition and profitability.
 
Panel participants include:
 
SYDNEY
  • Richard McMahon, Senior Manager, ASIC
  • Chris Irwin, Head of Retail Credit Risk – Strategy, Scorecards & Policy, Group Risk, Bank of Queensland
  • Michael Hendricks, ME Bank
  • Katherine Forrest, Partner, King & Wood Mallesons
 
MELBOURNE
  • Felicity Natoli, Group Senior Manager, ASIC
  • Michael Hendricks, ME Bank
  • Katherine Forrest, Partner, King & Wood Mallesons
  • Jason Humphrey, Head of Retail Bank, ANZ (Melbourne only)

Q & A:

Members and industry guests will have the opportunity to ask questions from the audience relating to ASIC's new focus. Our facilitator will be Mike Cutter, Group Managing Director, Australia & NZ at Equifax.
Event Dates & locations:
  • Sydney: Wednesday 12 September 2018 at the Amora Hotel, 11 Jamison Street, Sydney, 2000
  • Melbourne: Friday 14th September 2018 at the Sofitel Melbourne on Collins, 25 Collins Street, Melbourne, VIC 3000

 

Time: 7am – 10:30am.

 

Ticket prices:

  • Member price – single ticket:                   $132 + GST
  • Member price – table of 8 - 10:                $1116 pp + GST
  • Non-member price – single ticket:           $162 + GST
  • Non-member price – table of 8 - 10:        $142 pp + GST
 

These Executive Breakfasts are kindly sponsored by Equifax, and on behalf of Members, we thank Equifax for this support.


To book, please click here for Sydney OR here for Melbourneor contact Domonique Jovanovich - djovanovich@rfigroup.com or +61 2 9126 2638 for general enquiries. Rebecca Murray – rmurray@arca.asn.au for event enquiries. James Harradine – jharradine@rfigroup.com or +61 2 9126 2616 for ticketing enquiries.


The ARCA team look forward to welcoming you to this important event.

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Mon, 20 Aug 2018 09:10:00 +1000
Privacy (Credit Reporting) Code (CR Code) variation https://www.arca.asn.au/newsprivacy-credit-reporting-code-cr-code-variation.html https://www.arca.asn.au/newsprivacy-credit-reporting-code-cr-code-variation.html Privacy (Credit Reporting) Code (CR Code) variation

ARCA is conducting a consultation on the proposed CR Code variation between 3 and 17 April 2018. The context for this variation is set out in greater detail below.

The consultation material is as follows:

Further information on the independent review into the CR Code is available here: https://www.oaic.gov.au/privacy-law/privacy-act/credit-reporting

Feedback in response to the consultation material can be emailed to CRCode@arca.asn.au by close of business, Tuesday 17 April 2018.
 

Context for CR Code variation

The OAIC has written to ARCA and confirmed that it would consider an application by ARCA (as Code developer) to vary the CR Code to address the following matters identified by the CR Code Independent Reviewer (Pricewaterhouse Coopers):

  • clarifying the timing of issuance of section 21D notices and the possibility that there is inconsistency between the relevant provisions in the Privacy Act 1988 (Cth) and the Credit Code (PwC recommendation 4)
  • clarifying the permitted methods of delivery of section 21D notices and where to deliver those notices (PwC recommendation 5)
  • determining how the ‘maximum amount of credit available’ is calculated and consistent categorisation of credit contracts in determining the maximum amount of credit available (PwC Issue 15)
  • determining ‘the day credit is terminated or otherwise ceases to be in force’ to ensure accurate disclosures of consumer indebtedness (PwC Issue 16)
  • improving and clarifying mechanisms for correction of information (PwC Issue 18)
  • clarifying the definition of ‘month’ for purposes of reporting repayment history information (RHI) in respect of whether the time is to be calculated using business and/or non-business days (PwC Issue 29)
  • clarifying the impact of the application of a ‘grace period’ when calculating the first RHI period (PwC recommendation 7)
  • clarifying the scope of prohibition for developing a ‘tool’ to facilitate a CP’s direct marketing (PwC recommendation 8).

Given the introduction of the National Consumer Credit Protection Amendment (Mandatory Comprehensive Credit Reporting (CCR)) Bill 2018 in Parliament on 28 March 2018, it is expected that ARCA will work towards obtaining the Acting Australian Information Commissioner’s approval of these variations, so that they apply by 1 July 2018. On this basis, the OAIC expects that ARCA will commence consultation in early April 2018.

 

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Mon, 02 Apr 2018 19:10:00 +1000
Ease the Hardship… of Hardship Processes https://www.arca.asn.au/newsease-the-hardship-of-hardship-processes.html https://www.arca.asn.au/newsease-the-hardship-of-hardship-processes.html    

 

Katabat and Connected Analytics are partnering to drive financial hardship program innovation in a way that benefits both financial institutions and struggling debtors. We have developed a multi-pronged strategy to deliver significant financial and customer experience returns within those external and internal constraints.

 

Join us for a webinar on Wednesday 13 December, 2017 at 12:00 PM AEST, 1:00PM AEDT, 10:00AM AWST.
 
Once a borrower gives notice of hardship, the National Credit Code mandates that dealing with their hardship is your problem. How is your organization managing that challenge?Australian lenders’ responses to hardship are limited by poor integration of data and decisioning and sorely deficient customer communications.
 
Join internationally-recognised hardship expert David Grafton, Director of Business Development at Connected Analytics, along with Rob Davies, Director of Business Development at Katabat for Australia and New Zealand, for a live and interactive webinar on 13 December 2017. They will address the use of technology to enhance regulatory compliance while disrupting the status quo of hardship strategies in Australia.

 

Read more.

 

REGISTER NOW

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Wed, 06 Dec 2017 16:45:00 +1000
iappANZ 2017 SUMMIT https://www.arca.asn.au/newsiappanz-2017-summit.html https://www.arca.asn.au/newsiappanz-2017-summit.html Members and the broader privacy community are invited to explore the tension between privacy and data utilisation at the iappANZ 2017 Summit to be held at Dockside Cockle Bay Wharf on Tuesday, 3 October. Join our MC, Tracey Spicer, and Australasia’s leading brands and government and regulatory representatives as we unpack the latest issues in privacy regulation and policy, including:
 
  • Updates from Australian and New Zealand regulators
  • The EU GDPR – Its effect in Australia and New Zealand and what to do about it
  • Managing privacy risk through de-identification and other protections
  • How to drive change by winning hearts, not minds
  • Workshop:  Safe data, trusted data use: what it means and how to get there
  • The ethics of spyware – What happens when you spy on a thief?
  • Cool or creepy? Navigating a safe path to unlock the power of big data, AI and analytics
All privacy practitioners are also invited to attend an exclusive security workshop on Wednesday, 4 October hosted by SafeStack CEO and Security Cat Herder Laura Bell. Entitled "Bringing security and privacy practitioners together… it’s like herding cats" the practical session will introduce the key concepts of security, and provide an opportunity to work through a breach case study that required privacy and security teams to work closely together on a global scale.
 
SUMMIT REGISTRATION:
 
Members - $687.50
Non Members - $907.50 
(Non member registration includes 1 year iappANZ membership)
 
Registration includes access to all summit sessions and exhibition, summit satchel, catered tea breaks and post summit networking drinks. 
 
DAY 2 WORKSHOP REGISTRATION: 
 
Members - $195.00

Non members - $225.00

 

Click here to register to download the program

 

 

SPECIAL OFFER TO ARCA MEMBERS 

Receive the iappANZ member rate to attend the summit 

 

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Mon, 11 Sep 2017 11:45:00 +1000
REGISTRATIONS NOW OPEN FOR ARCA NATIONAL CONFERENCE '17 https://www.arca.asn.au/newsregistrations-now-open-for-arca-national-conference-17.html https://www.arca.asn.au/newsregistrations-now-open-for-arca-national-conference-17.html Registrations are now open for the ARCA National Conference ’17, and the website is live at www.arcaconference.com.au.

 

The conference will be held over 2.5 days, from the afternoon of Wednesday 8th November to Friday 10th November.  This year we are headed back to the Gold Coast to the beautiful Sheraton Grand Mirage resort for the main conference and Gala dinner, with accommodation being held at three five star venues; Sheraton Grand Mirage, Palazzo Versace and QT Gold Coast.

 

Our theme for 2017 is: "The Changing Future of Credit Risk”, designed to build on last year’s theme of “Optimising outcomes in an uncertain world".  Our international and local speakers will distil their insights from their own experiences to help navigate an evolving landscape and strategise the future of our organisations.

 

Increasingly, the ARCA National Conference is the premier annual event for the credit risk industry, providing top quality strategic insights and networking opportunities for senior executives - as well as professional development and motivational opportunities for their teams.

 

This year, the conference will have even greater depth and breadth of content - and will include strategic, technical, and legal & compliance streams.

 

To register:

 

You can register here to lock in tickets before End of Financial Year. The attractive Early Bird discount rate and special Member rate  is now open and remains available until the end of August.  If you are interested in registering a team, there are special discounts available for Credit Providers. Click here to enquire.

 

For any questions regarding registrations or sponsorships, please contact Lucy Ladbrooke at RFi Group (LLadbrooke@rfigroup.com, 02 9126 2627) or Rebecca Murray at ARCA (rmurray@arca.asn.au, 0419 633 346).

 

The Conference Committee and ARCA team look forward to welcoming you and your industry peers to a fabulous educational and networking experience! 

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Thu, 03 Aug 2017 09:35:00 +1000
27th Annual Credit Law Conference, https://www.arca.asn.au/news27th-annual-credit-law-conference.html https://www.arca.asn.au/news27th-annual-credit-law-conference.html Informa is proud to present the 27th Annual Credit Law Conference, due to take place on 11-13 October at the Surfers Paradise Marriott Resort & Spa.

 

The conference will once again provide a stellar knowledge and networking platform for financial services executives and stakeholders, with updates from the Minister for Credit & Small Businesses and ASIC Executive Leader Michael Saadat.

 

Themes this year include

  • Policy announcements from the Minister for Credit & Small Businesses
  • Regulatory updates from ASIC
  • Comparison of industry and regulatory perspectives on the future of credit and lending
  • Outcomes to unsuitable lending - insights from FOS and CIO
  • Home lending - mortgage broker remuneration and the future of the industry
  • Regtech, credit, banking and insurance for SMEs
  • P2P lending
  • The future of credit advertising
  • Accountability
  • Compliance and responsible lending

 

Learn more and book your place here.

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Thu, 03 Aug 2017 09:25:00 +1000
2nd Annual Credit Law Symposium https://www.arca.asn.au/news2nd-annual-credit-law-symposium.html https://www.arca.asn.au/news2nd-annual-credit-law-symposium.html

 

2nd Annual Credit Law Symposium

 

This September, we’ve assembled the key Regulators, the thought leaders and the best speakers to focus on the practical issues that will impact your practice.

 

Efficiency and value?

 

Spend just one day in Sydney  where you can pick and choose the content relevant for you, all at a great value. Make the wise choice: a comprehensive credit law and fintech event with independence, focus, innovation and value.

 

Below you can find the brochure. Simply click on the brochure image to view and download your very own copy.

 

 

So don't delay in securing your registration - register now for the  only credit law and fintech event that is independence, focus, innovation and value.

 

Plus, don't miss out on our early bird prices with savings of up to $100 if you register by Friday 4 August 2017

 

Learn More Here

 

 

As a special offer, ARCA Members receive the early bird rate until the seminar runs. Simply register using the brochure link and mention that you have been invited by a speaker at the early bird rate. 
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Mon, 24 Jul 2017 10:10:00 +1000
New Executive Breakfast series announced - Next steps with Responsible Lending and Hardship https://www.arca.asn.au/newsnew-executive-breakfast-series-announced-next-steps-with-responsible-lending-and-hardship.html https://www.arca.asn.au/newsnew-executive-breakfast-series-announced-next-steps-with-responsible-lending-and-hardship.html

 

 

With only three weeks to go, it is now time to secure your tickets for the next ARCA Executive Breakfast series in Sydney on 1 August, and in Melbourne on 4 August on Next steps with Responsible Lending and Hardship.

 

ASIC’s Michael Saadat, Senior Executive Leader – Deposit Takers, Credit & Insurers, and Chris Green, Group Senior Manager - Credit, in ASIC's Deposit-Takers, Credit and Insurers Stakeholder Team will give the keynote addresses in Sydney and Melbourne respectively.

 

Given recent progress made in developing an industry approach towards recognising and reporting hardship and introducing hardship flag to the credit reporting system, your teams from collections/recoveries, credit risk, credit reporting projects, and communications & customer experience should attend to be updated on our progress and likely developments in this area.

 

This Executive Breakfast series, kindly sponsored by Equifax, will provide the following benefits to these teams:

  • Collections/recoveries team: Reporting RHI has a direct impact on customers in collections and recoveries.  How will your teams handle consumer questions around RHI? Will your current hardship processes be affected? Should the presence of a hardship flag on an account the consumer holds with another CP change your collections procedure?
  • Credit Risk team: If hardship is flagged in the credit reporting system, how will that indicator impact your credit risk modelling? If the flag stays on file for 24 months, will its impact differ depending on how recently the flag was applied? How will the presence of a hardship flag on a consumer’s product with another CP impact your account management strategies?
  • Credit reporting project team: Are the collections and host systems able to identify that a hardship notice has been received, in order to apply that flag? The program needs to consider the impact of sending additional data and receiving new flags. 
  • Communications and customer experience owners: How will your organisation handle communications with your customers? How can we provide a strong customer experience given these changes?

Agenda:

 

  1. Geri Cremin, ARCA’s Head of Regulatory Compliance and PRDE, will present the key points of progress so far and outline the areas where more work needs to be done in creating a unified policy on hardship, financial difficulty, RHI and hardship flags.
  2. Michael Saadat, Senior Executive Leader – Deposit Takers, Credit & Insurers, ASIC (Chris Green in Melbourne) will present on responsible lending and hardship developments.
  3. Mike Cutter, Executive GM, Credit Risk & Advisory Services, Equifax will facilitate a Q&A session on the impact on consumers, drawing out the practical challenges and issues for ARCA members.  On the panel we will have representatives who are able to speak from a range of different perspectives.

 

Sydney event:

Tuesday 1 August, 7 am – 10 am

Amora Hotel, 11 Jamison Street, Sydney

To register for the Sydney event, click here

 

Melbourne event:

Friday 4 August, 7 am – 10 am

RACV Club, 501 Bourke Street, Melbourne

To register for the Melbourne event, click here.

 

Tickets:

  • ARCA Member Individual ticket: $110 + GST
  • ARCA Member table of 8: $770 + GST   
  • Non-Member: $130 + GST
  • Non-Member table of 8: $910 + GST

 

These Executive Breakfasts are kindly sponsored by Equifax and, on behalf of Members, we thank Equifax for their support.

 

We look forward to welcoming you to what is an essential event for 2017.

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Fri, 07 Jul 2017 11:35:00 +1000
ARCA's 2015/16 Annual Review is Now Available! https://www.arca.asn.au/newsarca-s-2015-16-annual-review-is-now-available.html https://www.arca.asn.au/newsarca-s-2015-16-annual-review-is-now-available.html

 

 If you would like a printed copy, please let Sarah Davis know on sdavis@arca.asn.au

 

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Mon, 22 May 2017 11:25:00 +1000
EMERGING TRENDS IN DATA SHARING AND OPEN DATA https://www.arca.asn.au/newsemerging-trends-in-data-sharing-and-open-data.html https://www.arca.asn.au/newsemerging-trends-in-data-sharing-and-open-data.html EMERGING TRENDS IN DATA SHARING AND OPEN DATA

A Perspective for Consumer Credit Providers
 
An ARCA White Paper
 
Authors: David Grafton, Kim Jenkins, Lisa Schutz, Steve Johnson
Additional contributors: Andrea Zannier & Adam Flesch: Oliver Wyman Australia
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Sun, 14 May 2017 19:05:00 +1000