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Mar 23 2021 
The future of Consumer Risk: alternative data sets and the challenge of digitisation.
On the surface, evaluating consumer risk may seem simple – we’re assessing the creditworthiness of our customers. An accurate assessment will help deliver a more predictive picture, so where we concentrate our focus on what really matters. But why do we assess consumer credit risk, and how might this change in the future? It turns…
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Mar 19 2021
Will your business get paid more quickly in 2021?
A key litmus test for the state of the economy is the number of days it takes for businesses to pay overdue bills.
illion’s Trade Late Payments Report is the most comprehensive in the market. Our latest report for the 2020 December quarter shows the Australian economy has some way to go before businesses can rest…
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Mar 03 2021 
The big open banking decision – should your organisation go it alone, or is a third party the way to go?
With the Consumer Data Right (CDR) now live, customers can share their banking data with third party institutions such as banks, credit unions, fintechs, online lenders and money management apps. This is open banking, a regulated way for consumers to share their data, giving them greater control and encouraging widespread competition. It’s likely that by…
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Feb 17 2021
PEP & Sanctions Q&A
illion recently hosted an insightful PEP & Sanctions webinar for clients.
Richard Atkinson, illion’s GM Consumer risk and AML, was joined by Nick Parfitt, Head of Market Planning at Acuris, and Neil Marshal, Partner Manager at FinScan – both UK-based organisations.
Here are some of the key questions that were discussed during the presentationThere are really three…
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Feb 09 2021
Three key AML updates for 2021
According to The Australian Financial Review, Australian banks were fined a whopping $1.3bn last year – mostly for breaches of anti-money laundering (AML) and counter-terrorism financing (CTF).
As well as indicating the regulator’s enthusiasm for pursuing violations and doing all that is within its means to curb criminal behaviour, the fines show many reporting entities are…
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Jan 21 2021
illion and Acuris Risk Intelligence join forces to deliver a powerful AML/KYC compliant solution.
With regulatory pressure ramping up in Australia, a new partnership between Acuris Risk Intelligence and illion will deliver new opportunities for financial entities to tailor their AML CTF compliance program and avoid reputational risk.
With AUSTRAC’s recent $9m+ penalty enforced against Westpac in Australia, it is now clear that regulators are determined to make sure financial…
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Jan 19 2021
ACCC misses the opportunity to fine-tune open banking Rules
By Richard Atkinson, GM Consumer Product, illion
The Australian Competition and Consumer Commission has published its third set of amendments of the Consumer Data Right (CDR) rules which are required to underpin Australia’s emerging open banking system.
The amendments follow the release of a Consultation Paper by the ACCC in October 2020, where feedback was requested on…
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