Which fintech innovations are really adding value to customers?
Financial services, of all sectors, has seen some of the most significant technology innovations in recent years. Banks and insurance companies have been very keen to leverage technology in such a way that is mutually beneficial to both vendor and consumer, and now even superannuation is getting involved in the technology revolution. While there is a lot of innovation happening for the sake of it, not all of it is useful for the end user. It sounds simple, but what we learned as we developed our automated SMSF solution is a lesson that a lot of other financial services apps seem to forget at times; good design principles that keep […]
NAB’s Andrew Thorburn: ‘We are a fintech company’
National Australia Bank must harness the hunger of start-up companies if it is to fend off competition from technology-based rivals, chief executive Andrew Thorburn says. Amid predictions the banking sector will face intense disruption from digital businesses, Mr Thorburn on Tuesday said fintech firms were attracting more and more funding in a world of ultra-low returns. Big banks have a reputation for being bureaucratic institutions, and Mr Thorburn said NAB needed to emulate some of the traits of its smaller start-up rivals. “I actually think we are a fintech company ourselves. We have to have the mindset of a fintech company, and I actually think we’ve got a lot of […]
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 […]
2 Upcoming FinTech IPOs
For decades financial services in numerous flavours were the exclusive province of the banking sector. To get a loan, pay bills, apply for credit cards, or transfer money, consumers and corporations alike turned to banks. It is hard to imagine the rise of the Internet is little more than 20 years old and the rise of smartphones is even more recent – less than 10 years. As a direct result new industries are emerging, among them FinTech, or financial technology. FinTech companies offer alternatives to the banks and as such stand ready to massively disrupt the way financial services are delivered. Direct peer-to-peer lending and crowdfunding are changing the way […]
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 […]
Brexit: Bitcoin surges in wake of Out vote
One of the few winners from Britain’s shock decision to exit the European Union on Friday was the virtual currency bitcoin, which rose more than 7 per cent as investors flocked to what they perceived a safe haven asset. Bitcoin jumped above $US670 after the vote, according to data from CoinDesk, prompting analysts to label it “digital gold” – a reference to gold’s historic status as a haven from financial turmoil. Over the past month, the virtual currency has been buffeted by changing sentiment around the vote, rising more than 70 per cent as the Brexit camp gained momentum before being sold off in recent days when it appeared Britons […]
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 – […]
