Corporate treasurers are spending more on fintech
A new report from East & Partners shows corporate treasurers from the highest revenue-ranked corporations are investing more in fintech. Business research firm East & Partners has found corporate treasurers in the UK, Asia and Australia are ramping up their fintech investments. The results came from the Treasury Fintech Index, developed by East & Partners and Contentive Media, and is based on direct interviews with corporate treasurers in eight key global markets. In the UK, treasurers are forecasting a 14.5% increase in their fintech spend for the coming year, while Australia and Singapore are following closely behind with a planned 12.2% increase. East & Partners Australia head of markets analysis […]
NSW trade minister welcomes $1.1 billion tech company TransferWise to Sydney
A global tech company founded by Skype’s first employee and valued at $1.1 billion will set up shop in Sydney as it looks to strengthen its footing in the Asia-Pacific region. TransferWise CEO and co-founder Taavet Hinrikus says the rapid take-up of their international money transfers platform in Australia prompted them to expand down under. “Sydney is a great city and we’re looking forward to becoming part of the tech community,” he says. “Since launching TransferWise here, it’s become one of our fastest-growing routes.” New South Wales minister for trade Stuart Ayres says the government has been actively driving efforts to attract fast growing companies to the state in 10 […]
Westpac says RBA-issued digital currency would boost blockchain
Westpac Banking Corp, National Australia Bank, Macquarie Group and nine other international members of the R3 consortium have completed a trial of blockchain technology which saw funds transferred between banks across borders using Ripple’s cryptocurrency XRP. The tests confirm cross-border payments is shaping up as one of the initial use cases for blockchain in financial services and point to a future where money is transferred directly and instantly without the need for overnight clearing and settlement by central banks. The project was designed to help banks unlock liquidity and reduce the costs of international banking. Using Ripple’s distributed ledger, the dozen banks converted domestic currency into XRP and sent this […]
ChimpChange user activity accelerates
HIGHLIGHTS ChimpChange acquired 15,500 new customers in the September quarter Total Transaction Volume (“TTV”) grew by 71% month-on-month (“MoM”) in September Total funds deposited by ChimpChange customers grew by 73% MoM in September Monthly value of mobile cheque loads more than doubled in September, up 117% MoM ChimpChange has proven its ability to attract higher value customers both a) quicker and b) more efficiently Business Update ChimpChange Founder and Managing Director, Ash Shilkin, said: “We are pleased to have delivered solid momentum across ChimpChange’s key business metrics, particularly through the month of September and beyond, while attracting higher value customers to the ChimpChange platform. “The September quarter saw the […]
Major Australian fintech Tyro just hired the UBank founder as its CEO
UBank founder Gerd Schenkel has been hired as Tyro Payments’ new CEO to build the fintech company’s next-generation bank. Schenkel has been hired by Tyro, Australia’s fast-growing nextGen banking institution, to run an ambitious growth plan and a strong public advocacy campaign. “When someone of Gerd’s talent becomes available you grab the opportunity with both hands,” says current CEO Jost Stollmann. “Now that Tyro has a bank licence and $100 million in new capital, Gerd joining the Tyro team as new CEO is the last piece needed to deliver very strong growth in the years ahead.” Stollmann, the company’s largest shareholder, will continue as a full time executive director. Gerd […]
AtlasTrend completes $2.8m capital raising
Australian based fintech and global equities fund manager, AtlasTrend, is pleased to advise that it has completed a capital raising of $2.8m to grow its online investment platform and progress its continued disruption of the trillion dollar traditional funds management sector. AtlasTrend provides retail and sophisticated investors with online access to proprietary investment insights and an easy way to invest in four exclusive global equities funds, with portfolios aligned to global investment megatrends focused on where the world is heading – Big Data, Online Shopping, Healthy Lifestyle, and Baby Boomers. AtlasTrend completed the capital raising through new and existing investors, with notable investors including some of the early backers of […]
A financial market on your phone – innovation winner’s next goal
A university professor, whose fraud-detection computer program has revolutionised the world’s financial markets and won the Prime Minister’s Innovation Prize, has a bigger goal in sight – creating a financial market on your phone. Professor Michael Aitken and his team created the SMARTS system, which catches insider trading and market manipulation around the world with such success it was sold in 2010 for $90 million to the world’s largest exchange company, the US-based Nasdaq. That sale helped fund a new generation of research entrepreneurs under Professor Aitken’s Capital Markets Cooperative Research Centre, which is using the same technology to pick up fraud, abuse, waste and over-servicing in the health and […]
BigFuture and Booster Launch Strategic Partnership
BigFuture Pty Limited and Booster Financial Services Limited are pleased to announce their strategic partnership. Booster, a New Zealand based financial services company, will implement BigFuture’s current technology and work with BigFuture to create the next wave of technology for financial advisors. Booster will take up to a 20% equity stake in BigFuture, pay an annual development fee and will have exclusive rights to the BigFuture technology in New Zealand. According to Donald Hellyer, CEO of BigFuture, “Booster is the perfect organisation to partner with BigFuture. The two companies have a common view on where technology is heading for the financial advice and banking industries. Booster provides BigFuture long-term financial […]
