In this episode of the Daily Financial Services News Wrap, Paige Estritori discusses latest events from the financial sector. The appointment of Sam Wall as Iress' CEO demonstrates the company's commitment to enhancing its superannuation business. NRMA's legal dispute over excessive credit hire charges linked to Wollongong accident is spotlighted as a case underlining ongoing debates about high credit hire costs. Westpac's decision to halt new loan applications for its subsidiary, RAMS Financial comes as a result of a strategic review to streamline operations, but amidst a storm of class-action lawsuits and regulatory scrutiny. Lastly, Estritori explores the intersection of neuroscience and AI transforming the life insurance industry. Panelists at a recent Sydney Online Summit discussed how AI advancements in neural diagnostics could lead to monumental cost savings and enable proactive risk management.
