Equip launches pilot program for Equip MyMoney robo investment service
Equip is piloting its robo investment service, branded Equip MyMoney, with a select group of members, with release to all members planned by the end of the month. Equip MyMoney is the fund’s custom-built superannuation version of Clover.com.au’s automated investment service and will help members make the right choice from the fund’s existing investment options based on their risk profile. This is calculated from user responses to a short series of questions. Equip’s Executive Officer, Member Relationships, Justin Sadler, said: “Equip MyMoney will be a quantum leap forward in the online experience and capability available to our members, and reflects our commitment to on-going development of our financial education and […]
Chinese fintech startups see Stone & Chalk as a springboard for growth
A delegation of a dozen entrepreneurs from three of China’s most promising fintech startups have arrived in Sydney for a three-month residency at Stone & Chalk, where they will help educate Australian startups on launching into China while using mentoring from the hub as a bridge for their own expansion into other Western markets. In a sign of closer fintech trade ties between Australia and China, Stone & Chalk on Wednesday launched its Fintech Asia incubation exchange, which it describes as the first cross-border fintech incubator between Australia and Asia. The Commonwealth and NSW governments have funded the flights and accommodation for the 12 staff of the three startups, who […]
Rubik joins forces with Class
Rubik Financial Limited (ASX: RFL), a leading fintech company delivering innovative banking, wealth and mortgage solutions to the financial services industry, has partnered with Class Super Pty Ltd, to provide advice technology for accountants who are limited licence holders. The partnership is a timely one given the change to regulation as part of the FOFA reforms which came into effect on 1 July requiring accountants to obtain the newly created ‘limited’ AFS licence in order to continue giving advice to their clients about SMSFs. According to Rubik CEO, Iain Dunstan, “As part of Rubik’s omni-channel offering, the Provisio module is perfectly suited to accountants because of its ease of use […]
BPS Technology further expands Bartercard operations in USA
BPS Technology continues to execute its Bartercard growth strategy in North America, opening new franchises in New Hampshire, Alabama and Georgia, with at least four more US franchises in the pipeline Leading financial technology platform provider BPS Technology Limited (ASX: BPS, “the Company”) is pleased to announce that it has continued to expand the reach of its Bartercard operations in North America. BPS has recently opened three new Bartercard franchises in Mobile (Alabama), Portsmouth (New Hampshire) and Savannah (Georgia). Mr Paul Bolte, President and Chief Executive of Bartercard USA, said of the new franchisees: “Bartercard is pleased to see our franchise growth strategy working, as we have now brought on […]
Major mortgage group partners with US-based fintech player
One of Australia’s largest providers of mortgage broking services has formed a strategic alliance with an international fintech company. AFG today announced that it has partnered with New York-based Biz2Credit. The exclusive agreement will enable AFG brokers to deliver an innovative lending experience for small businesses in Australia. AFG will leverage Biz2Credit’s patented analytics and financial services technology to process small business loan requests more efficiently. “Loan applicants will enter information through a new online small business portal,” AFG said in a statement. “The technology will enable AFG brokers to provide small business borrowers with a broader range of options and deliver faster access to capital.” Using the new online […]
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 […]
