finance - News, Features, and Slideshows


  • BNZ card technology reduces fraud

    The Bank of New Zealand says its Liquid Encryption Number (LEN) technology for preventing credit card fraud has been a success since it was first trialled on a limited basis in 2008, with the rate of fraudulent transactions from cloned credit cards in New Zealand down by 50 per cent. It is now in place in all BNZ credit and debit cards.
    The technology works by changing numbers on cards’ magnetic strips every time a transaction takes place, or an account balance is requested at an ATM.

  • ASB appoints new head of technology

    ASB has appointed Russell Jones as the bank's head of group technology.
    Jones has worked for paper company Sappi in both South Africa and Europe, as well as Carter Holt Harvey in New Zealand and International Paper in the US.