Hello Monday! Here’s what you need to know.
1. Your online reputation may be worth more than money. A McAfee report has found that you’re eBay account could be worth as much as $3000 (£1,400) on illegal marketplaces. The underground economy now values online reputation more than stolen credit cards. Read more about why here.
2. There’s a new telco in town. Online retailer Ruslan Kogan has teamed up with Australia’s loss-making no. 3 mobile network provider, Vodafone, to create the budget telco Kogan Mobile, hopefully, with better luck than the last time he tried it. In 2013, Kogan Mobile’s telco partner, ispOne, went belly up, leaving around 120,000 customers stranded. Kogan Mobile executive director David Shafer is understandably upbeat, saying “We now have a network ally who is really supporting us, isn’t scared of competitive pricing, and has an interest in seeing Kogan Mobile succeed in the market,” he said at the launch today. Vodafone has been losing both money and customers for the last few years, so the deal, which starts with offers from $29 a month, may help stem some of the customer bleed, but it remains to be seen how the alliance between the discount online retailer and telco will pan out.
Business Insider’s Josh Nicholas has more here.
3. NAB and Xero have joined forces in a sign that big banks are finding new ways to solve old problems, says Xero Australia managing director Chris Ridd. Xero customers will now be able to access business loan approvals in a faster, more streamlined way. Find out more about the deal here.
4. There are concerns that Chinese companies could destroy Australia’s fintech ambitions. A paper published by SWIFT says China will play the dominant role in shaping the future of the local fintech sector, and expects Baidu, Alibaba and Tencent “will change the pattern of global trade, the mechanics of exchange and the face of banking as we know it”.
5. There’s a new Facebook notification you never want to get. It warns users if it suspects their account has been targeted by a state-sponsored hacker. If you do get it, it may not be that Facebook itself has been hacked, but rather, could indicate your computer or smartphone has malware on it the cyber stalkers are using to seek access to your accounts. Read more here.