Fintech platform revenues set for massive rise: Juniper
Fintech platform revenues for unsecured consumer loans issued using machine learning technology are set to jump by a whopping 960% globally over the next six years, according to new research from Juniper. According to the latest report on the worldwide Fintech market from Juniper Research, revenues will rise to US$17 billion by 2021, with spending advancing rapidly due to the highly data-driven nature of the market, “meaning that AI integration is likely to spell substantial benefits”. Juniper says that until recently, machine learning was too expensive and computationally time-intensive to break into the mainstream, while access to extensive data sets for algorithm training were limited. Research author Steffen Sorrell says […]
InvestmentLink establishes data grant for emerging fintech companies
InvestmentLink, Australia’s largest independent financial data source, today announced the establishment of a data grant designed to support emerging companies in the Australian fintech sector. The grant will give selected companies access to a feed of financial account and investment fund data at no cost for a period of 18 months. The grant is being made available to Australian fintech start-ups and will give them access to 600 data feeds. It will include 500 live accounts, with access to test accounts and the InvestmentLink API. InvestmentLink Chief Technology Officer Wayne Robinson said the program will provide a significant boost to those companies awarded a grant, and help them demonstrate their […]
FinTech Solutions For Enhanced Income and Economic Growth
Small business plays an important role in innovation and employment, so financial mechanisms that make it easier for small business to grow must be welcomed. P2P Business Lenders are intent on improving small business financing options by connecting investors (i.e. lenders) with a choice of loans in a digital market place. Much like an eBay for small business loans or a match making market. P2P Business Lending is about using technology to make what was once unviable, viable. This article looks at emerging innovators ThinCats and True Pillars as a source of funding for small businesses and enhanced income for professionally managed SMSFs. Technology Makes Small Loans Affordable Small business […]
DomaCom partners with peer-to-peer lender
DomaCom has announced it will partner with a peer-to-peer lending company to extend opportunities for advisers in the property sector. DomaCom chief executive Arthur Naoumidis said DomaCom’s partnership with ThinCats Australia will allow advisers to be on both sides of property transactions by creating leveraged book builds. “This also provides the 350 lenders on the ThinCats platform the opportunity to gain exposure to property assets and the ability to lend funds at an attractive interest rate with a lower risk profile,” Mr Naoumidis said. ThinCats Australia, which has been operating in Australia for the past 18 months, is a peer-to-peer lending platform for secured business loans to small and medium […]
RateSetter Australia passes $50 million in record time
This month RateSetter achieved an important milestone – passing $50 million in funds matched between investors and creditworthy borrowers. This milestone was reached in record time for an Australian peer-to-peer lending platform. RateSetter Australia CEO, Daniel Foggo, commented: “From the start our objective has been to give Australian investors and borrowers a better, fairer deal. Our growth since launch shows the enthasiam with which Australians are embracing an alternative that offers them better value and real convenience compared with traditional financial institutions. “Combined with the success of RateSetter in the United Kingdom, this record-breaking growth makes the RateSetter group one of the largest and fastest growing online retail money markets […]
Stockspot integrates with Class to provide accountants a direct data-feed for SMSFs
Stockspot, Australia’s leading automated investment adviser and fund manager, today announced an integration with Class Super, the leading provider of cloud SMSF administration software. The integration will provide SMSF accountants and their clients with a direct data connection from Stockspot to Class enabling income processing and enabling investment tax reporting. Accountants will be able to receive a daily data feed which includes their client’s Stockspot portfolio investments, capital gains, dividend statements and franking credits. It will also automatically generate tax summary statements, cutting down on hours of administration and analysis of taxation data. Kevin Bungard, CEO of Class, said: “Robo-advice is the fastest growing areas of retail investment […]
TruRating clinches $16.5 million in latest funding round as it looks to further global expansion
UK mass-market ratings system, TruRating has today announced that it has raised $16.5M AUD (£9.5M GBP) in Series A funding, which will be used to further propel the company’s expansion into global markets and enable TruRating to further develop new technology to provide additional value to consumers. This funding round was led by Sandaire, wealth management specialist, and private family investment group, bringing the company’s total amount of investor-lead funding to $23.85M AUD (£13.7M GBP), following prior rounds of angel and seed funding totaling $7.3M (£4.2M GBP)**. On the importance of the investment, TruRating founder and CEO Georgina Nelson said: “We have had an incredible year and securing this […]
Moula ramps up for long-term growth
Australia’s leading data-driven lending platform for small businesses Moula, today announced the appointment of former Managing Director of Xero, Chris Ridd, to its board as it positions itself for significant growth. The announcement coincides with the release of findings from the Disruption Index, showing that the number of data-approved loan applicants has doubled over the past year. The Disruption Index is a Moula initiative designed to track the waves of disruption in Australia in the small business lending sector. Ridd’s appointment comes off the back of strong growth for Moula over the past twelve months, as Australian small businesses change the way they access loans. Business confidence among SMEs seeking […]
