Former MFAA CEO joins HashChing
A finance and logistics executive and former MFAA chief executive officer has joined the advisory board of mortgage marketplace and home loan deal gateway HashChing. Siobhan Hayden, who resigned as chief executive of the MFAA in June this year, has joined the advisory board of online home loans trader HashChing. It’s the third top executive the emerging fintech has secured in recent weeks. Financial services regulatory lawyer Claire Wivell Plater and financial service senior executive Helen Lorigan also joined the fintech’s advisory board recently. Ms Hayden commented that HashChing has the potential to significantly change the home loan market in Australia. “HashChing sits at the intersection of customers, brokers and lenders — […]
New FinTech Uno Home Loans lands a $16.5 million investment from Westpac
New Australian FinTech company ‘Uno’ has landed a $16.5 million investment from Westpac after its success in the digital mortgage service in the past few months. The major bank investment is set to expand the company even further as customers are discovering the benefits of having a greater power in the home loan search process. Chief Strategy Officer at Westpac, Gary Thursby, said “uno’s success has been impressive and we’re seeing its potential to become a serious player in the home loan market”. Westpac has been involved with uno since the concept phase and Mr Thursby is pleased to announce the investment where Westpac will be a strategic investor at […]
Hashching cracking fintech’s glass ceiling
Like the global technology industry more broadly, Australia’s fintech scene is a very male-dominated world. While MoneyBrilliant co-founder Jemma Enright and Timelio founder Charlotte Petris are obvious exceptions, Australia’s fintech entrepreneurs are mostly men. So are the vast majority of their venture capitalist backers and teams of software engineers. It’s a similar pattern around the globe. But Siobhan Hayden says it doesn’t need to be this way. The former chief executive of the Mortgage & Finance Association of Australia has a message for girls seeking to start fintechs to disrupt the financial services industry. “Back yourself – people need to back themselves,” said Hayden, who last week joined the advisory […]
Australian FinTech, Media Partner for LendIt Europe
Australian FinTech is delighted to be a Media Partner for the upcoming LendIt Europe conference, taking place on October 10-11, 2016 in London. We’re very excited to be part of this event and encourage you to attend if you have not already registered. As a LendIt Europe media partner, we are able to offer you an exclusive discount on LendIt Europe 2016 passes. Use the promo code AF16VIP when registering to receive 15% off your ticket. Register Now: http://bit.ly/29ZSvTm Partnered with the P2P Finance Association, LendIt Europe is Europe’s largest conference for the online lending community, with 1000 attendees expected in 2016. Confirmed speakers include: […]
The growing popularity of peer-to-peer lending
Years ago, the financial services offered to people who wanted to profit from their savings was very cut and dry. You would either invest your money in the stock exchange, property, or in a term deposit account, to gain interest on your principal investment. Now, investors have the opportunity to expand their portfolio and commit their funds to newer, and arguably more exciting, investment options. Peer-to-peer lending (P2P) This disruption to traditional financial services is due to the growing popularity of peer-to-peer lending (P2P) in the market. This lending process is a method of debt financing that allows individuals to borrow and lend money without the use of an official […]
ASX-Listed Australian FinTech company zipMoney – Full Year Results
zipMoney are pleased to announce today their FY16 Annual Results, the first set of accounts as an ASX-listed Company. Some of the key highlights: Transaction volume of $51.5 million, up 962% Loan book (receivables) of $40.7 million, up 1,296% Company revenues of $4.3 million, up 976% More than 50,000 customers and 2,000 merchants Omni-channel strategy delivering volume growth Bad debts of 1.1%, below industry standards FY16 saw a number of very pleasing achievements for the Company. This included strong growth in transaction volume, with more than $50 million processed on the zipMoney payments platform. This was supported by close to 2,000 merchants across their target sectors and a number of […]
Fintech start-up enters third-party channel
A new online mortgage platform has decided to partner with brokers – rather than compete with them — by offering a new digital solution that drives efficiencies in the third-party channel. In the ongoing battle between innovative fintechs and mortgage brokers, Sydney-based start-up LoanFlare has bucked the trend by launching a digital platform to help brokers do the best possible job. LoanFlare provides dynamic home loan rates for consumers to enquire about, empowers clients to enter their application details and provides instant serviceability calculations — all through an engaging website. On the broker side, it also automates workflows and data entry, provides actionable intelligence and minimizes fraud through a comprehensive […]
Just don’t call us payday lenders
More than 20,000 Australian small business owners have trouble accessing finance (Deloitte Access Economics). Are they denied access because they aren’t good candidates for loans? Yes, in some cases. However, a significant number (37%) of these businesses are denied finance because they don’t have collateral (be it a home or considerable assets) to secure a loan against. Interestingly more than 40 per cent of rejected applications examined by the NSW Business Chamber were for amounts less than $100,000 – it seems traditional providers aren’t interested in small loans, or small business. Archaic systems and processes which serve the interests of incumbent big business are being dismantled in the current global […]
