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Young Aussies can’t afford financial advice, use AI tools instead
Matched: Australia
Young Australians are increasingly turning to AI tools for financial guidance due to the high cost of traditional advice, according to Webull Australia. The online broker's findings show young Aussies lead AI adoption for financial queries, reflecting a broader trend of cost-conscious consumers seeking affordable alternatives to licensed financial advisers.
Experts warn expired credit cards can be brought back from the dead to make contactless payments
Researchers have found that expired credit cards can still be used for contactless payments, with one successfully used to buy $100 worth of groceries. The vulnerability exists because some payment terminals fail to properly verify expiration dates. Experts warn consumers to properly destroy old cards and urge banks and retailers to strengthen their verification processes.
Most lenders are using AI, yet only 3% are data ready
Matched: Australia
A study has found that while most Australian lenders are actively implementing AI, only 3% have the data infrastructure needed to support it effectively. The findings highlight a significant gap between adoption ambition and operational readiness, raising concerns that lenders are deploying AI tools without the foundational data quality and governance required for reliable outcomes.
NAB to begin testing of agentic AI for customers
Matched: Australia
NAB will begin testing an agentic AI platform for its lending operations. The system would allow AI to autonomously complete multi-step tasks on behalf of customers, such as gathering documents and progressing loan applications. The bank said the technology could significantly reduce processing times, though it emphasised human oversight would remain part of the process.