News In Brief

Welcome to our ‘News In Brief’ column in which we digest all the news releases for you in no more than five paragraphs.
Below are snippets of all the media releases we received from May 5 till the end of the week.
This article updates throughout the week.

TeamViewer Unveils DEX Essentials

Sydney, May 5: TeamViewer has announced the launch of DEX Essentials, a new offering aimed at bringing enterprise-grade digital employee experience (DEX) tools to businesses of all sizes, including small and medium enterprises. Built on technology from TeamViewer’s acquisition of 1E, DEX Essentials enables IT teams to gain real-time visibility, automate routine fixes, and resolve system issues proactively—without disrupting productivity. The product is available via early access and will become commercially available later this month. It will be offered as an add-on to TeamViewer Remote and Tensor.

Cybercrime Targets Personal Devices

Sydney, May 5: SoSafe’s Cybercrime Trends Report 2025 reveals that 96 per cent of Australian organisations have been targeted via personal devices or accounts over the past year, highlighting a growing risk in the blurred boundaries between personal and professional digital spaces. The report also found that 96 per cent of Australian firms encountered AI-driven attacks, with only 26 per cent confident in detecting them. Multi-channel attacks are also rising, with scammers leveraging email, messaging apps, and deepfake voice calls to exploit vulnerable targets. Nearly half of Australian SMBs spend less than $500 annually on cybersecurity, widening the security gap with larger organisations.

EnrichMoney Launches Pay with Points

Kuala Lumpur, May 5: Enrich has introduced a new Pay with Points feature in Malaysia, allowing EnrichMoney members to redeem their points via DuitNow QR at participating merchants. This first-of-its-kind functionality in Malaysia enhances the EnrichMoney e-wallet, which also offers multi-currency transactions, competitive exchange rates, and Visa prepaid card services. Until 31 May 2025, members can enjoy up to RM5 off transactions using the new feature.

Retailers Risk $2 Billion

Sydney, May 5: Australian retailers could be missing out on AUD$2 billion by focusing on retaining the wrong customers, according to new research by James Hurman and Klaviyo. The study, based on $1.2 billion in spending across 1.7 million customers in Australia and New Zealand, found that brands with lower retention but higher customer spending grew faster than those with high retention and stagnant spending. The report also revealed that loyalty programs are not necessarily linked to business growth, with retailers without loyalty programs growing at more than three times the rate of those with them. Additionally, customer service was identified as the most powerful driver of emotional connection and spending.

AI Revolutionizes Animation

Beijing, May 7: CreateAI has released a white paper detailing how multimodal generative technology is transforming 2D and 3D animation production. The report uses Ne Zha 2, a Chinese animated film that grossed over USD $2 billion, as a case study to showcase AI’s role in enhancing animation quality and efficiency. It also introduces CreateAI’s Video Model Evaluation System, a new framework for assessing video generation quality, and highlights the company’s proprietary tools like Ruyi and Animon.ai, aimed at anime, comics, and gaming content creators. The full report is available for download at the provided link.

Westbridge Expands Retail Portfolio

Perth, May 7: Westbridge Funds Management has acquired the $45 million HomeCentre retail asset in Wagga Wagga, NSW, increasing its portfolio to $965 million. The property, located at 143 Hammond Avenue and 111 Kooringal Road, spans 41,292 sqm and is fully leased to major tenants, including Spotlight, Anaconda, and Supercheap Auto. Two new retail stores, pre-leased to Oporto and Kickstart Espresso, are under construction and expected to be completed in June 2025. The fund targets a 13 per cent IRR with a seven per cent annual distribution paid monthly. Westbridge is exploring additional opportunities to drive capital growth while maintaining strong income returns.

UNSW Startup Funding Boost

Sydney, May 8: UNSW Founders has partnered with fund manager Luminary Partners to provide $200,000 in funding to 18 deeptech startups in 2025. This landmark collaboration, the largest between a university accelerator and a venture capital firm in Australia, aims to accelerate innovation in health, climate, and sovereign capability. The funding will support three flagship programs – Health 10x, Defence 10x, and Climate 10x – aligning with the Australian Government’s National Reconstruction Fund priorities. Founded through the merger of HappenCo and Banksia, Luminary Partners will offer not only capital but also mentorship and commercial connections to UNSW’s top startups. The initiative builds on UNSW Founders’ track record of supporting over 120 startups, collectively valued at $750 million.

Ethical Fund Pressures QBE

Sydney, May 8: Australian Ethical Investment is urging QBE Insurance Group to disclose its climate risk exposure and justify its continued underwriting of new oil and gas projects through 2040. Australian Ethical is concerned that QBE’s reliance on property and agriculture underwriting may become uninsurable over the next three decades due to climate change, citing QBE’s 2024 report of exiting some property insurance lines. Despite QBE’s ongoing underwriting of oil and gas projects, the insurer has not clarified how it is assessing long-term climate risks or aligning with net-zero targets. Australian Ethical, holding $56 million in QBE shares as of January 2025, has been engaging with QBE on climate commitments since 2016.

Stripe Unveils AI, Stablecoin Upgrades

Sydney, May 8: Stripe has launched a series of new products designed to help businesses leverage AI and stablecoins to accelerate growth. At its annual Sessions event, Stripe introduced the world’s first AI foundation model for payments, new stablecoin-powered financial accounts available in 101 countries, and a deeper partnership with NVIDIA for rapid payment processing. Other announcements include 60+ product upgrades across Stripe’s platform, including smart dispute management, support for 25 new payment methods, and expanded tax capabilities in 102 countries. The stablecoin accounts will roll out in Australia at a later date.