Fintech is going to be much bigger than you think
If payments can be made anywhere, anytime, across any device, why do you need a currency? Or even a bank? The “fintech” revolution is upon us – but what we’ve seen may only be the start of it. Fintech – a term coined with the listing of peer-to-peer lending platform LendingClub on the New York Stock Exchange in late 2014 – is not only a portmanteau of ‘financial technology,” it describes a whole new industry composed of companies that use technology to make financial services more efficient. It’s big, it’s growing and it’s disruptive. “Fintech is set to change finance as profoundly as the issuance of the first permanent banknotes […]
Rubik to Appoint Peter Clare to Board
Rubik Financial Limited (ASX: RFL), a leading fintech company delivering innovative banking, wealth and lending solutions to the financial services industry, is pleased to announce that Peter Clare will join the Rubik Financial Limited Board, effective 1 July 2016. Peter has been in the banking industry since 1995, most recently as the Chief Executive Officer of Westpac New Zealand Limited, a division of Westpac Banking Corporation Limited. He is a member of several fintech related boards, including being Chairman of ChimpChange and REFFIND and a director of Scottish Pacific Group Limited, Digicash, and Capital Market Technologies, among others. He has completed an MBA at Macquarie University and holds a Bachelor […]
Fintechs say high ASX standards are vital
The chief executives of two fintech companies preparing to list on the ASX say the Australian public market remains an attractive funding option for young technology companies despite the botched float of music streaming service Guvera. ChimpChange, a digital bank in the US, is set to list on the ASX this Thursday, after raising $15 million to help lift its profile to millennial customers in middle America, where it provides low-fee deposit accounts. Avoka, a software developer working for global banks, has just completed a $16 million fund raising from private investors and is eyeing a listing on the ASX in around 18 months. The bosses of both companies say […]
1st Annual Australian FinTech Awards 2016
Congratulations to the winners of the 1st Annual Australian FinTech Awards 2016! FINTECH INNOVATION IN PAYMENTS – Afterpay FINTECH INNOVATION IN WEALTH MANAGEMENT (ROBO ADVICE) – Owners Advisory by Macquarie Group FINTECH INNOVATION IN LENDING (FOR FINTECH) – SocietyOne BEST INNOVATION IN CYBER-SECURITY & ANTI-FRAUD – Entersoft BEST FINTECH COMMUNICATIONS CAMPAIGN – Acorns BEST RESEARCH IN FINTECH – Panalitix BEST FINTECH-BANK COLLABORATION OF THE YEAR – OnDeck Capital’s partnership with CBA FINTECH LEADER OF THE YEAR – Daniel Foggo of RateSetter FEMALE FINTECH LEADER OF THE YEAR – Loretta Joseph of the Sydney Stock Exchange FINTECH CTO/CIO OF THE YEAR – Glenn Riddell of RateSetter INSURE-TECH STARTUP OF THE YEAR – […]
FinTech sector accuses banks of not playing fair
The Financial Tech start-up industry, known as FinTech, is a vibrant new sector that promises to disrupt—or at least compete with—incumbent finance businesses in Australia. The Turnbull Government has made several announcements indicating support for the sector. But some in the sector are accusing the banks of not playing fair, by actively misleading their customers in advising them not to connect to FinTech services. LISTEN: To listen to ABC’s Fran Kelly, joined by RN Breakfast’s Technology Editor Peter Marks, click on the link below… Source: FinTech sector accuses banks of not playing fair – RN Breakfast – ABC Radio National (Australian Broadcasting Corporation)
Fintech to invest $1b into blockchain this year
Financial and technology firms are expected to invest more than $US1 billion to bring blockchain technology to capital markets in 2016. That’s according to a new survey from Greenwich Associates, where a majority of participants said blockchain has the potential to change markets within the next five years. The 134 interviewees, including executives at banks, exchanges, asset managers and blockchain technology companies, said the main obstacle hindering the technology’s widespread use was a “vested interest” in legacy systems. “The financial sector will continue to put its weight behind blockchain this year,” Richard Johnson, vice president for Greenwich’s Market Structure and Technology group, said in the report. “Blockchain is beginning to […]
Examining the fintech appeal of business lending in Australia
A question often asked in the fintech space is, “Which area of fintech has the greatest potential?” The answer invariably sticks with the obvious – insurtech, blockchain, mobile payments, peer-to-peer lending and banking – and while focus to these areas is deserved, business lending has been exponentially gaining steam. Lenders are flocking to the market and it seems every week there is a new entrant, partnership or innovation. The online business lending space is full of diversified products and lenders are constantly looking for new ways to benefit business borrowers. The market is becoming flooded by choice. So, what is the appeal? It’s simple. The space exemplifies fintech as it […]
Deposits lift on Apple Pay, says ANZ Bank
Almost two months after it signed a deal to provide Apple Pay, ANZ Bank says teaming up with the technology giant is prompting more customers to open accounts, or start using credit cards that had been lying dormant. ANZ became the first major bank to offer Apple Pay in late April, breaking ranks with rivals, which are negotiating over how millions of dollars in fee revenue would be shared if they were to also provide the service. While Australian consumers have generally been reluctant to use “digital wallets” ANZ says the move is having a real impact on its sales of transaction accounts, especially digital sales. Matt Boss, managing director […]
