Progressclaim.com launches ProgressPay
Progressclaim.com, the construction industry standard for connected contract administration™, announced that it has partnered with international debtor finance specialist Omniveta Finance to offer General Contractors the ability to empower their Subcontractors by providing access to a product that helps improve their cash flows and strengthen and grow their businesses. The new product, ProgressPay™, enables Subcontractors to receive payments for their progress claims within 2 business days of their approval by a participating General Contractor. The current standard practice in the construction industry is for the Subcontractor to supply and pay for their own labour and materials to complete work as quoted, and then lodge a progress claim with the […]
WorldRemit achieves key volume milestone underpinned by strong user growth
WorldRemit achieves key volume milestone underpinned by strong user growth, with Australian market a key driver WorldRemit now processing over 500,000 transactions per month 100,000 transfers sent from users in Australia alone 160,000 transfers received directly on mobile phones Signalling rapid and accelerating global growth, online money transfer service WorldRemit announced it had processed more than half a million transfers in a month for the first time ever in September, with more than 100,000 transfers sent from users in Australia alone. The milestone continues WorldRemit’s record for consistent transaction volume growth, showcasing strong fundamentals – consistent, growing revenues streams and a clear path to profitability. Global turnover is […]
Prospa reaches $200 million milestone
Australian leading fintech, Prospa, announced the company has hit $200 million in loan originations – cementing itself as the leading force in Australia’s non-bank finance sector. The milestone announcement coincides with the company securing additional capital from a large local institutional funder for its latest financing round, taking total capital raised to over $100 million. Beau Bertoli, Joint CEO of Prospa, said the additional $50 million debt capital raising is part of Prospa’s strategy to scale operations. “This is a significant milestone for our business. It means we can meet increasing demand from small businesses for fast, easy access to finance. And it means we can continue […]
Leading Australian Legal FinTech expert Claire Wivell Plater joins Ignition Wealth Advisory Board
Ignition Wealth CEO Mark Fordree has announced the appointment of Claire Wivell Plater to the Ignition Wealth Advisory Board. “Claire Wivell Plater is a leading Australian expert on compliance and regulatory issues and concerns. Claire’s knowledge, insight and innovative approach will assist Ignition Wealth as we ongoingly develop our digital advice solution. We believe working with industry leaders like Claire will allow us to maintain our position offering a best in class product.”. Mark Fordree, CEO, Ignition Wealth. Claire is a long standing member of the Business Advisory Committee to ASIC’s Licensing Division, and a member of the Federal Treasurer’s FinTech Advisory Group. She is an active supporter […]
Corporate treasurers are spending more on fintech
A new report from East & Partners shows corporate treasurers from the highest revenue-ranked corporations are investing more in fintech. Business research firm East & Partners has found corporate treasurers in the UK, Asia and Australia are ramping up their fintech investments. The results came from the Treasury Fintech Index, developed by East & Partners and Contentive Media, and is based on direct interviews with corporate treasurers in eight key global markets. In the UK, treasurers are forecasting a 14.5% increase in their fintech spend for the coming year, while Australia and Singapore are following closely behind with a planned 12.2% increase. East & Partners Australia head of markets analysis […]
NSW trade minister welcomes $1.1 billion tech company TransferWise to Sydney
A global tech company founded by Skype’s first employee and valued at $1.1 billion will set up shop in Sydney as it looks to strengthen its footing in the Asia-Pacific region. TransferWise CEO and co-founder Taavet Hinrikus says the rapid take-up of their international money transfers platform in Australia prompted them to expand down under. “Sydney is a great city and we’re looking forward to becoming part of the tech community,” he says. “Since launching TransferWise here, it’s become one of our fastest-growing routes.” New South Wales minister for trade Stuart Ayres says the government has been actively driving efforts to attract fast growing companies to the state in 10 […]
Westpac says RBA-issued digital currency would boost blockchain
Westpac Banking Corp, National Australia Bank, Macquarie Group and nine other international members of the R3 consortium have completed a trial of blockchain technology which saw funds transferred between banks across borders using Ripple’s cryptocurrency XRP. The tests confirm cross-border payments is shaping up as one of the initial use cases for blockchain in financial services and point to a future where money is transferred directly and instantly without the need for overnight clearing and settlement by central banks. The project was designed to help banks unlock liquidity and reduce the costs of international banking. Using Ripple’s distributed ledger, the dozen banks converted domestic currency into XRP and sent this […]
ChimpChange user activity accelerates
HIGHLIGHTS ChimpChange acquired 15,500 new customers in the September quarter Total Transaction Volume (“TTV”) grew by 71% month-on-month (“MoM”) in September Total funds deposited by ChimpChange customers grew by 73% MoM in September Monthly value of mobile cheque loads more than doubled in September, up 117% MoM ChimpChange has proven its ability to attract higher value customers both a) quicker and b) more efficiently Business Update ChimpChange Founder and Managing Director, Ash Shilkin, said: “We are pleased to have delivered solid momentum across ChimpChange’s key business metrics, particularly through the month of September and beyond, while attracting higher value customers to the ChimpChange platform. “The September quarter saw the […]
