Borrow

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Why is BNPL succeeding where previous easy credit products failed? Could the answer be low friction and light regulation?

Write comment (0 Comments) " ["fulltext"]=> string(5299) "

Buy now, pay later (BNPL) has taken Australian consumers by storm in recent years, but why now?

Speaking to nestegg, ClearScore managing director Steve Smyth said that products like these tend to come in waves.

He pointed to the past successes of store cards, but emphasised the low friction of modern app-based BNPL platforms as a point of difference.

“I think that’s really what’s different from past waves. It’s all about low friction,” he said.

While traditional credit cards are often superior or equal to BNPL apps in terms of friction during use, they’re much-higher friction when it comes to getting one on short notice.

Mr Smyth noted that many consumers are predisposed to shop on credit due to the convenience it offers in regard to stalling payments. Moreover, the immediacy of access to credit that BNPL apps like Afterpay provide is a key ingredient when it comes to explaining their success and popularity.

“The flexibility of being able to buy stuff is a very strong need for most people because most people are not wealthy enough to just have reams of cash to buy what they want,” he said, pointing to stats around financial hardship.

Figures released by the Australian Bureau of Statistics (ABS) in 2020 suggested that 19 per cent of Australian households were unable to raise $2,000 within a week.

For those excluded by the existing credit system, BNPL apps like Afterpay are a compelling solution to this problem.

Mr Smyth said that the appeal of low friction isn’t limited to just consumers, but also businesses looking to take advantage of new spending trends.

“With the rise of e-commerce, the ability of Afterpay and others to offer relatively simple mechanisms for checkouts enabled people to pay by just filling out the form to sign up for an Afterpay account now and then pay off in full instalments [and] was much easier for retailers,” he said.

Finally, Mr Smyth acknowledged that the existing regulations around credit in Australia are also a big part of why BNPL apps like Afterpay have taken off.

According to one report by Margeta, Australia is at the front of the pack when it comes to BNPL adoption.

The report noted that 72 per cent of consumers increased their use of BNPL over the past 12 months, and that apps like Afterpay were more popular among Australian consumers than their US and UK-based counterparts.

Mr Smyth argued that this popularity is partly owed to local regulations governing credit.

While BNPL companies charge customers in the form of late and account fees, the fact they don’t charge interest means they’re not technically considered credit cards under local legislation like the National Consumer Credit Protection Act.

With BNPL’s biggest competitors like credit cards and personal loans only able to offer a relatively high-friction experience because of local regulatory requirements, Mr Smyth framed this imbalance “a recipe for why it’s taken off”.

“Regulations in Australia make accessing credit if you’re part of that half of the population that doesn’t have to have a lot of savings so very difficult because you have to have income and expense verification that proves you can actually afford the loan,” he explained.

Looking to the future, Mr Smyth expects a convergence between the upstarts of the BNPL niche and more-established payments processing players.

Pointing to recent moves by Zip Pay, he suggested that the future of BNPL is one where they essentially act as credit cards built on an alternative business model.

At the same time, Mr Smyth noted that many “credit card companies are coming up with credit card products with zero interest and monthly fees”.

According to him, the final result of this trend is likely going to be a flooding of the market.

“You’ve got to believe there’ll be consolidation as competitors find it tougher over time, but I think you’ll see convergence as well, which is that they’ll start off with a suite of financial products that makes them more look like a regular lender,” he said.

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Why is BNPL succeeding where previous easy credit products failed? Could the answer be low friction and light regulation?

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One of Australia’s biggest banks is looking to leverage artificial intelligence to crack down on abuse and harassment made using Australia’s payments infrastructure.

Write comment (0 Comments) " ["fulltext"]=> string(3074) "

The Commonwealth Bank of Australia (CBA) has announced that it’ll be deploying new artificial intelligence technology and machine learning techniques to proactively detect financial abuse made using its platforms. 

CBA general manager for community and customer vulnerability Justin Tsuei said that technology-facilitated abuse is a serious problem for the bank, describing it as “completely unacceptable behaviour”.

“The new model, which uses advanced AI and machine learning techniques, allows us to provide a more targeted and proactive response than ever before,” Mr Tsuei explained. 

The bank’s new AI model complements the less-sophisticated block filter that CBA implemented in 2020, which prevented transaction descriptions that included language that the bank identified as threatening, harassing or abusive.

“We want to ensure our customers feel safe when they are using our platforms, and it’s our responsibility to do everything we can to provide the right measures of protection across our channels,” Mr Tsuei said.

CBA framed this move as an extension of the bank’s broader strategy around the deployment of AI-powered technology and innovation in its digital channels. 

“As Australia’s leading digital bank, we are continuously looking for new and better ways to improve our products, channels and services,” Mr Tsuei said. 

CBA estimated that over 100,000 abusive transaction descriptions were blocked over the three-month period from May to the end of July 2021. 

“With this new model in place, not only are we able to proactively detect possible instances of abuse in transaction descriptions, but we can do so at an incredible scale,” Mr Tsuei said. 

The bank revealed that the new AI-powered detection model identified 229 senders of potentially serious abuse across both NetBank and the CommBank App, who were then manually reviewed by the bank. 

In some extreme circumstances, CBA said that it would go so far as to terminate a customer’s banking relationship if they continued to breach their policies by engaging in abusive, threatening or harassing behaviors via transaction descriptions.

“The use of AI technology and machine learning techniques to help us address a serious issue like technology-facilitated abuse demonstrates how we can use innovative technology to create a safer banking experience for all customers, especially for those in vulnerable circumstances like victim-survivors of domestic and family violence,” Mr Tsuei said.

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One of Australia’s biggest banks is looking to leverage artificial intelligence to crack down on abuse and harassment made using Australia’s payments infrastructure.

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Visa and ANZ are partnering in a bid to make standard credit card payments as flexible as buy now, pay later.

Write comment (0 Comments) " ["fulltext"]=> string(3884) "

Announcing the partnership this week, one of Australia’s major banks is set to upgrade its existing credit card offering to give customers the option to pay for online and retail good across interest-free instalments.

When it launches in 2022, ANZ credit card customers will be able to use Visa Instalments to pay as an alternative to standard credit transactions.

“We want to provide our customers with flexibility in how they manage their purchases, which is why we are pleased to work with Visa on launching this new feature,” ANZ head of cards and personal lending Mike Shurlin explained.

Mr Shurlin was confident that ANZ customers would benefit from being able to pay in instalment when they want to, while still retaining the option of standard credit transactions for other purchases.

“Having that choice with no need for additional steps means they have a simple and secure feature through their existing card,” he said.

Mr Shurlin added that the ability to make instalments was a key feature requested by customers, and that Visa was a natural partner for the bank.

“Visa Instalments ticks all the boxes in terms of its flexibility, security and ease of use, allowing us to add more optionality and create better experiences for our credit card customers,” he said.

ANZ said that Quest Payment Systems has already agreed to participate in the rollout of Visa Instalments, with additional merchant terminal operators expected to join on ahead of the launch next year.

The move is being framed by both ANZ and Visa as the latest instalment (no pun intended) in a history of collaboration between the two parties.

Visa group country manager for Australia, New Zealand, and South Pacific Julian Potter said that the development of the feature was a response to overwhelming demand among Australian consumers for buy now, pay later–style (BNPL) financing through existing and trusted financial institutions.

“We’re delighted to partner with ANZ to expand Visa Instalments to Australia, bringing ANZ credit card holders the flexibility and convenience of instalment payments in-store and across e-commerce channels, without them needing to do anything new,” Mr Potter said.

Even if it doesn’t quite put them in direct competition with Afterpay, the move puts ANZ in conversation of a wider push into the BNPL space by major financial institutions in recent times.

The last 12 months have seen payments processing giants like PayPal and Mastercard enter the interest-free instalments niche.

Meanwhile, local Australian banks and neobanks have tried to carve up a slice of the BNPL market with BNPL apps like CBA StepPay and Suncorp’s PayLater.

According to a new report by Margeta, Australia is at the front of the pack when it comes to BNPL adoption, with 72 per cent of consumers increasing their use of BNPL over the past 12 months.

“We’re seeing a real shift in how consumers are wanting to pay in Australia, which is leading to a surge in buy now, pay later adoption,” said Marqeta country manager for Australia and New Zealand Duncan Currie.

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Visa and ANZ are partnering in a bid to make standard credit card payments as flexible as buy now, pay later.

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AFCA has reported a fall in the number of complaints it has received about major banks in the past year.

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The Australian Financial Complaints Authority (AFCA) said it had received 7 per cent fewer complaints from consumers about Australia’s big four banks during the 2020–21 financial year.

In its latest annual review, AFCA reported that complaints about banking and finance made up 60 per cent of the 70,510 total complaints it had received in 2020–21.

“While we know there are challenges ahead in the coming months across the board, I hope all firms and customers continue to do what they’ve been doing — firms actively engaging with customers they think may be struggling, and customers talking to firms before a small problem becomes a bigger one,” said David Locke, chief ombudsman and CEO at AFCA.

Data from AFCA’s Datacube indicated that complaints about the big four banks totalled 17,593 in 2020–21 compared to 18,817 in 2019–20. Complaints about the Commonwealth Bank fell from 6,580 in 2019–20 to 5,815 in 2020–21, while complaints about ANZ fell from 4,627 to 4,112 and complaints about NAB fell from 4,258 to 4,114.

A slight increase in the number of complaints about Westpac was reported, rising from 3,352 in 2019–20 to 3,542 in 2020–21.

AFCA reported that 56 per cent of the complaints it had received were resolved in less than two months, and 90 per cent were resolved within six months.

“This result demonstrates that AFCA is achieving its purpose in being faster and cheaper for consumers and firms compared to an alternative such as a court or tribunal,” Mr Locke said.

While banking and finance made up the majority of complaints received by AFCA, 24 per cent of complaints were related to general insurance, 7 per cent were about superannuation, 6 per cent were about investment and advice, and 2 per cent were about life insurance.

The product that was the subject of the most complaints was credit cards with 9,903 complaints received by AFCA, followed by 6,400 complaints about home loans and 5,758 about personal transaction accounts.

Service quality was found to be the biggest issue reported by complainants with a total of 6,880 complaints, followed by 5,048 reports of unauthorised transactions and 4,773 complaints about delay in claim handling.

A total of more than 216,000 complaints have been received by AFCA since it was established in November 2018.

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From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-10-07 23:00:09" ["slug"]=> string(47) "17483:afca-reports-a-fall-in-banking-complaints" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(11) "275:banking" ["event"]=> object(stdClass)#6701 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(0) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(302) "

AFCA has reported a fall in the number of complaints it has received about major banks in the past year.

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["alias"]=> string(49) "borrowing-money-to-buy-shares-when-is-it-worth-it" ["introtext"]=> string(309) "

Investing with borrowed money can be risky, but it’s all about timing.

Write comment (0 Comments) " ["fulltext"]=> string(2990) "

Using borrowed money to boost your investment strategy isn’t something that you should consider lightly, but that’s not to say it doesn’t work.

Wealth Within chief analyst Dale Gillham told nestegg said that borrowing money to invest shares can be an excellent way to increase your returns, “with smart investors able to more than double returns when compared to investing with cash alone”.

However, he was quick to emphasise that timing is one of the most important details here.

Mr Gillham said that there’s a right and wrong time to go about investing in the sharemarket with borrowed money.

“Most people tend to borrow at the wrong time and that is in the last stages of a bull market,” he said.

In the lead-up to the GFC in 2008, Mr Gillham said that people invested using borrowed money in record numbers. For anyone considering borrowing money to buy shares, there’s an important lesson to be learnt in analysing what happened next.

“The higher the market rose, the greater the demand from investors which saw borrowing expand at an exponential rate,” he added.

This cyclical dynamic saw those who had overleveraged suffer enormous losses when the GFC ultimately landed.

“There were many cases of people losing more money than they initially had, investors losing life savings and the list goes on,” Mr Gillham continued.

With that cautionary tale in mind, he said that the right time to borrow for stocks is after a market correction. Doing so reduces risk while maximising your potential for profit.

“You can also invest in the early stages of a market recovery and once the bull market is underway, but caution needs to be exercised if you see everyone wanting stocks and borrowing to buy, as this is your signal to pull back,” Mr Gillham said.

While timing is a big part of making this particular approach to the sharemarket work for you, Mr Gillham noted that there are several other common mistakes that investors can make. These include borrowing too much or relying on financial products they do not fully understand.

Even then, he admitted that borrowing to invest isn’t going to be the right fit for everyone.

“For some, particularly those close to retirement or those without other sources of income, borrowing to invest should be avoided,” he said.

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Investing with borrowed money can be risky, but it’s all about timing.

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APRA hopes changing the rules around how banks assess the serviceability of home loans will cool rising household debt levels.

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The Australian Prudential Regulation Authority (APRA) has bumped up the serviceability buffer in response to concerns around overall household debts. 

In a letter to lenders explaining the move, APRA said that it now expects authorised deposit-taking institutions to assess a new borrower’s ability to meet their loan repayments at an interest rate that is at least 3.0 per cent above the loan product rate. 

This change represents an increase on the 2.5 per cent buffer that previously was in place. 

“While the banking system is well capitalised and lending standards overall have held up, increases in the share of heavily indebted borrowers, and leverage in the household sector more broadly, mean that medium-term risks to financial stability are building,” APRA chair Wayne Byres said.

He noted that one in five new loans approved in the June 2021 quarter was more than six times that of a typical borrower’s income, and that regulators expected housing credit growth to outpace income growth in the months ahead.

APRA said that these circumstances made the modification to the serviceability buffer the most appropriate mechanism by which they could look to intervene. 

“With the economy expected to bounce back as lockdowns begin to be lifted around the country, the balance of risks is such that stronger serviceability standards are warranted,” Mr Byres said.

Describing the move was a targeted action designed to reinforce the overall stability of Australia’s financial system, Mr Byres revealed the move was supported by the rest of the Council of Financial Regulators and the Australian Competition and Consumer Commission. 

“In taking action, APRA is focused on ensuring the financial system remains safe, and that banks are lending to borrowers who can afford the level of debt they are taking on — both today and into the future,” he said.

The regulator predicted that the impact of the change was likely to be greater for investors than it would be for owner-occupiers, as the former tend to borrow at higher level of leverage. 

Going forward, APRA said it would “continue to closely monitor risks in residential mortgage lending, and can take further steps if necessary”.

The regulator’s latest effort to cool the growth of high-debt home loans comes after months of speculation on the subject that painted as a matter of when rather than if. 

Last month, Treasurer Josh Frydenberg strongly indicated that a crackdown on high-debt home loans was imminent following discussions with the Council of Financial Regulators, including the RBA and APRA.

At that time, APRA confirmed it planned to release “an information paper on its framework for implementing macroprudential policy” in the coming months and that it would continue to consult with the Council of Financial Regulators on the potential implementation of any measures.

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APRA hopes changing the rules around how banks assess the serviceability of home loans will cool rising household debt levels.

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string(19) "2020-07-08 05:42:04" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#6732 (3) { ["data":protected]=> object(stdClass)#6735 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#6734 (3) { ["data":protected]=> object(stdClass)#6737 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "3" ["label"]=> string(18) "Second article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [9]=> object(stdClass)#6771 (32) { ["id"]=> string(1) "9" ["title"]=> string(17) "Third article URL" ["name"]=> string(17) "third-article-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-07-08 05:42:42" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#6736 (3) { ["data":protected]=> object(stdClass)#6739 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#6738 (3) { ["data":protected]=> object(stdClass)#6741 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "3" ["label"]=> string(17) "Third article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [4]=> object(stdClass)#6772 (32) { ["id"]=> string(1) "4" ["title"]=> string(9) "Video URL" ["name"]=> string(9) "video-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-19 05:54:21" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "1" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#6740 (3) { ["data":protected]=> object(stdClass)#6743 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#6742 (3) { ["data":protected]=> object(stdClass)#6745 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(9) "Video URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [6]=> object(stdClass)#6773 (32) { ["id"]=> string(1) "6" ["title"]=> string(33) "Image Caption / Video description" ["name"]=> string(31) "image-caption-video-description" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 16:29:55" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "2" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#6744 (3) { ["data":protected]=> object(stdClass)#6747 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#6746 (3) { ["data":protected]=> object(stdClass)#6749 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(33) "Image Caption / Video description" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [3]=> object(stdClass)#6774 (32) { ["id"]=> string(1) "3" ["title"]=> string(6) "Status" ["name"]=> string(6) "status" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:45:26" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "3" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#6748 (3) { ["data":protected]=> object(stdClass)#6754 (1) { ["options"]=> object(stdClass)#6752 (2) { ["options0"]=> object(stdClass)#6751 (2) { ["name"]=> string(8) "Inactive" ["value"]=> string(1) "0" } ["options1"]=> object(stdClass)#6753 (2) { ["name"]=> string(6) "Active" ["value"]=> string(1) "1" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#6750 (3) { ["data":protected]=> object(stdClass)#6756 (10) { ["hint"]=> string(0) "" ["class"]=> string(9) "btn-group" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(6) "Status" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [5]=> object(stdClass)#6775 (32) { ["id"]=> string(1) "5" ["title"]=> string(22) " Essential information" ["name"]=> string(21) "essential-information" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 06:10:20" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "4" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#6755 (3) { ["data":protected]=> object(stdClass)#6758 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#6757 (3) { ["data":protected]=> object(stdClass)#6760 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(22) " Essential information" ["description"]=> string(35) "3 points that summarize the article" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [2]=> object(stdClass)#6776 (32) { ["id"]=> string(1) "2" ["title"]=> string(14) "Embedded Video" ["name"]=> string(14) "embedded-video" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:43:32" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "5" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#6759 (3) { ["data":protected]=> object(stdClass)#6762 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#6761 (3) { ["data":protected]=> object(stdClass)#6764 (10) { ["hint"]=> string(29) "Paste your embedded code here" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(70) "/borrow-money/loans/apra-boosts-lending-buffer-to-cool-home-loan-risks" ["image"]=> string(36) "images/article-826x550/APRA-ne-1.jpg" ["image_alt"]=> string(0) "" } }