AFG ties up with US fintech to roll out SME lending platform
Small-business lending, not wealth management, will be the mortgage broking industry’s next growth engine, according to Australian Finance Group, which is busy trying to sign up lenders to its new technology platform powered by US fintech company Biz2Credit. In August, AFG quietly formed an alliance with Biz2Credit to use the company’s patented analytics and financial services technology to give its army of 2650 brokers the ability to better offer small business loans alongside traditional mortgages. AFG plans to roll out the platform early next year with a “panel” of 15 lenders that customers can choose from, including the major banks and new fintech lenders. This contrasts with the strategy of […]
Oracle Names Suitebox as Platform Innovation Winner
SuiteBox, the mobile office solution for professionals, has been honoured with a Cloud Platform Innovation Award. SuiteBox was named as a winner at Oracle OpenWorld in San Francisco on Tuesday evening for its use of Oracle’s PaaS and IaaS services. The award reflects SuiteBox’s new and innovative use of the cloud, which it has used to transform its businesses, drive innovation, and gain a competitive advantage. Ian Dunbar, SuiteBox CEO, said: “Oracle’s recognition of SuiteBox, alongside global PaaS and IaaS leaders recognises the uniqueness of our business case, business benefits, the potential impact of SuiteBox on professionals as well as the complexity and magnitude of our implementation, and the originality […]
Worldpay heads down under with Australia licence
Worldpay, the global leader in payments, is expanding in Australia after winning its licence to process payments in what is one of Asia Pacific’s largest eCommerce markets. The company’s expansion in Australia comes at a time of sustained growth for Worldpay, which processed 13.1bn transactions in 2015 with transaction value of £401.9bn. A number of global companies, including ASOS, Expedia, Cathay Pacific Airlines, Digital World International and Freelancer have already turned to Worldpay for payment processing in Australia. They have been attracted to Worldpay both by the company’s extensive international reach, as well as its ability to process a wide range of alternative payment methods such as eWallets and bank […]
Sydney Fintech startup, Othera, doing more than just talking about blockchain platforms
This month, Othera, a Sydney based business credit and data technology start up, began testing their innovative Blockchain Lending Platform and Digital Asset Trading Exchange prototypes. Having launched their proprietary credit decisioning software to the market earlier this year, they have followed up with the delivery of an innovative two-part blockchain solution that will redefine how the global financial systems manage and trade debt and other asset back securities- and retail investors can get in on the action too. Since the GFC, there has been increasing dissatisfaction within the banking system and institutional and private investment sectors. Traditional investment products are historically complex, are inherently risky, provide limited visibility on […]
An Aussie fintech startup is helping financial advisers fight back in the war against robots
It’s not exactly bleak, but the future for financial advisers – humans ones – is a littler cloudier now than it has been in the past. Cheap roboadvice products are infiltrating the market, offering easy-to-use products, advice and even investing money on a user’s behalf. The key word is “cheap”, as the traditional perception of having a financial adviser is linked to earning a higher than average wage. With more and more people responsible for managing their own retirement funds, roboadvisers give lower wage earners some sense of security about what to do with their savings. But recent studies show roboadvisors are also gaining popularity with high-net-worth investors. They’re not […]
SocietyOne shuffles senior ranks as volumes accelerate
Peer-to-peer lender SocietyOne is looking for a new chief marketing officer following the departure of star recruit Mitch Harad while co-founder Matt Symons has been shifted to non-executive director, as the high-profile fintech upgrades its lending forecasts and attracts more institutional capital on to its internet platform. Mr Harad was hired with fanfare mid-last year after guiding Lending Club, also a P2P lender, to a public listing in the US. It is understood his departure is amicable and he will stay in Australia to establish his own start-up. Mr Harad was lured to SocietyOne by co-founder Matt Symons, who will relinquish his executive duties and move to the boardroom as a non-executive director. His management role will be taken up by former […]
Adviser Ratings Expands Business with String of New Appointments
Financial services technology company, Adviser Ratings has recently expanded its business with the appointment of two new senior staff members and a full service PR agency to manage its B2B and B2C communications activity. Following a successful launch to market in 2015, the expansion comes as a result of increased demand in the business’ personal finance offering, as its advisory and consumer member base continues to thrive. Joining Adviser Ratings as Chief Operating Officer, Jaime Brands brings with her 10 years of industry experience, six of those spent at Google Australia & New Zealand as the Head of External Telesales Operations for the entire region. With expertise in team leadership, […]
Class releases SMSFs benchmark report for June 2016
The developer of Class Super and Class Portfolio has now released its June 2016 SMSFs report, publishing an overview of data about SMSFs and administrators and analysis of smaller balance funds. The report analysed statically 110,000 plus Self Managed Super Funds, which is administrated by Class Super, that represents 19.2% of the estimated 577,236 in Australia today. The data used is compiled using a selection of de-identified data extracted from across the Class Super user base. Class CEO, Kevin Bungard, commented that the first SMSF Benchmark Report published last quarter was “extremely well received across the industry” and includes informative analysis of lower balance funds was “an informative exercise, with […]
