Rubik to Partner with MyState on Digital Banking Transformation
MEDIA RELEASE: Rubik Financial Limited (ASX: RFL), a leading technology company delivering innovative banking, wealth and lending solutions to the financial services industry, has been selected by MyState Limited (ASX: MYS), a diversified financial services group, to partner on the transformation of their digital channels and customer experience offering. Rubik’s technology solution, which will go live in August, will enable MyState to offer their customers a superior digital experience, including access to MyState’s products and services from the device of their choice (desktop, smartphone or tablet) via the operating system of their choice (iOS, Android, Windows), and at the time of their choice. Iain Dunstan, Chief Executive Officer of Rubik, […]
R3 to raise up to $US200m from 42 global banks for blockchain trials
R3 CEV, the consortium of 42 global banks – including some of Australia’s biggest institutions – that is investigating how to employ blockchain technology in financial services, is planning an equity capital raising of up to $US200 million this year. Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corp and Macquarie are members of the R3 consortium that formed last year, so will be considering over the coming months the extent of their participation in the deal. Banks are investigating how to use blockchains, which could cut billions of dollars of costs from their organisations but also be disruptive given banks’ roles as trusted intermediaries and the fact that […]
Super funds well-positioned on robo-advice
Thirty-six per cent of people would prefer to get robo-advice and similar services from their superannuation funds, rather than the major banks, according to new research released today. The research, contained in the Investment Trends Direct Client Report has pointed to the high number of Australians choosing to make and activate financial decisions without the help of a financial adviser. However the report points to robo-advice as being a key tool in helping deliver necessary assistance to consumers, and to the positioning of superannuation funds in delivering the answers. In what represents a new area of research for Investment Trends, the company has looked at the appetite of Australian adults […]
Outcomes from the National Fintech Cybersecurity Summit
Last week an assembly of Australia’s who’s who of cyber security came together for a roundtable in Sydney. The event was organised by CSIRO’s Data61 and Stone & Chalk with partners KPMG and the Australia-Israel Chamber of Commerce (AICC). This roundtable, was chaired by Australia’s Chief Scientist Dr Alan Finkel, and the discussion well moderated by Tony Jones from the ABC. In an interview with Computerworld Australia, Alex Scandurra, CEO of Stone & Chalk, shared his reflections on the event and its outcomes. A key theme that emerged time and again in the inaugural National Fintech Cybersecurity Summit was the criticality of collaboration – a point echoed by both key […]
Fintech specialists say ‘NextGen banking’ may replace Big Four
Banks of the future will be technology companies with a banking licence, and traditional finance options may give way to more digitally advanced methods and platforms, say fintech specialists. According to panellists speaking at the Fintech CEOs on the Future of Finance seminar in Sydney on Wednesday night, financial technology firms will soon attract market share and talent away from current banking incumbents, while new digital roles set to replace traditional finance jobs. Speaking at the event Jost Stollmann, CEO of Tyro Payments, predicted that ‘next generation banking’ would eventually take over, with at least one of the big four banks to disappear completely in the next few decades. “Can […]
PrimaryMarkets – First US Listing – Blockchain / Bitcoin
MEDIA RELEASE: PrimaryMarkets today announces its first US listing by offering for sale unlisted shares in one of the largest available exposures to the global blockchain / digital currency trade. PrimaryMarkets’ Members now have the opportunity to purchase a significant existing equity stake in this USA Company with a portfolio of more than 70 investments in 20 plus countries across early stage digital currency and blockchain investments, a bitcoin dealing desk and a digital currency fund management business. Existing investors include MasterCard, New York Life and Western Union. A newly appointed director of the Company is also a director of AT&T, NASDAQ and the Federal Reserve Bank of New York. […]
SocietyOne shifts from edgy start-up to $100m lender
The nation’s biggest peer-to-peer lender, SocietyOne, is growing up fast, and not in the same way as its renegade US cousin Lending Club. An ASIC search has revealed the stranglehold of the so-called media consortium (News Corp, Kerry Stokes and James Packer’s media-free Consolidated Press Holdings) over SocOne after the recent $25 million Series C capital raising. The consortium, through its vehicle S. One Holding, holds a commanding 37 per cent stake, with the News and Stokes interests believed to be dominant in the S. One Holding structure. Not only that, but Westpac’s in-house venture capital fund, Reinventure, speaks for a further 17 per cent of SocOne. Put the two […]
InvestmentLink developing real-time wealth management compliance product
Media Release – InvestmentLink, Australia’s largest independent financial data source, today said it is developing a real-time compliance product that will give financial advisers and dealer groups immediate and ongoing compliance reporting. The product, Halcyon, will draw on InvestmentLink’s unique data platform and external data sources to provide advisers with a tool to manage potential issues as they arise. InvestmentLink Chief Technology Officer Wayne Robinson said Halcyon will give advisers a complete and ongoing audit of client portfolios, and will do away with the need for onsite periodical or random auditing. “Not only does real-time reporting mitigate potential issues as they arise, it also does away with the […]
