Australia pushes ISO for blockchain standards
Australia’s peak standard-setting body, Standards Australia, is calling on the International Standards Organisation to begin work on global standards for blockchain. The organisation has asked the Geneva-based ISO to begin working on standards for blockchain, the technology behind digital currency bitcoin, offering the assistance of Australian expertise. The ASX has recently taken a stake in New York-based Digital Asset Holdings, which is working on the potential to use its blockchain technology to help replace its CHESS sharemarket clearing system, while the Australian banks are also reviewing the potential uses of the distributed ledger technology. “We have had sufficient stakeholder support to put this proposal to the ISO,” Standards Australia’s acting […]
SocietyOne’s Yetton: loans soar as banks struggle
New SocietyOne chief Jason Yetton says its loan book is healthy despite mixed economic conditions and record loan growth that pushed the nation’s biggest marketplace lender through the $100 million barrier. Mirroring similar trends by other new “fintech” companies, SocietyOne yesterday revealed $30m of new personal loans and agribusiness finance had been written in the first quarter, pushing total lending since August 2012 past $100m. Rival online “peer-to-peer” or “marketplace” lenders, which directly match borrowers with investors, include RateSetter and DirectMoney, which have also been posting record growth. Meanwhile, the banks’ bad debt charges have risen because of the mining slowdown and lending to sectors facing structural challenges, such as […]
Winklies, Dorsey Hunt Oz Biz
New York’s Winklevoss twins, the ex-Olympic rowers who famously – and unsuccessfully – sued Facebook for a fortune in 2011, claiming founder Mark Zuckerberg had stolen their idea, have confirmed plans to bring their bitcoin technology to Australia. The twins – Tyler and Cameron – who have since successfully set up a well-regarded bitcoin exchange in New York – have reportedly been negotiating with Melbourne-based Trimantium to help bring their blockchain technology Down Under. Their presence might well be welcomed here, given the problems the local industry has been experiencing, with one outfit, Bitcoin Group, recently refused entry to the ASX for want of an acceptable financial report (CDN, Feb. […]
Shares in fintech Mint Payments are soaring on a Singapore deal
Shares in Mint Payments jumped when the fintech came out of a trading halt to announce a deal with Singapore’s NETS (Network for Electronic Transfers). A short time ago, the shares were up 9% to $0.12. The company went into a trading halt on Friday after being queried by the ASX on the reason for a sharp rise in the company’s share price. NETS is an electronic payments started in 1985 and owned by Singapore banks, DBS Bank, OCBC Bank and UOB. One in three Singaporeans use NETS everyday to make payments. Mint now has a five year-agreement with NETS covering Mint’s payment solutions.Under the deal, Mint will work on […]
Founding Partner of SecondMarket joins PrimaryMarkets
PrimaryMarkets today announces that Philip H. Reicherz, former Partner and Managing Director of SecondMarket (USA), which was an early pioneer in the trading of unlisted shares and warrants, has joined its Advisory Panel. Nick Capp, CEO of PrimaryMarkets said Mr. Reicherz would be an invaluable addition to the Panel given his 20 plus years’ experience in financial services and expertise in developing early stage companies: “Philip was one of the driving forces behind the development of SecondMarket’s accredited and international retail and institutional investor base, many of their illiquid asset markets and current industry standards including documentation for processing off-market transactions. He also assisted buyers and sellers of alternative asset […]
Mutual lender partners with fintech hub Stone & Chalk
Leading mutual lender CUA has announced a corporate partnership with growing fintech hub Stone & Chalk. The partnership with Sydney-based Stone & Chalk will give CUA access to the latest technology ideas and innovations emerging from the hub. CUA general manager of business transformation & technology, Sue Coulter said the entrepreneurs working in Stone & Chalk could “dramatically alter” financial services. “There is no doubt that Stone & Chalk has the potential to dramatically alter the financial services landscape in Australia and CUA is excited to be part of this evolution,” Coulter said. “Since opening its doors only eight months ago, Stone & Chalk has quickly cemented its place as […]
Former FPA boss joins fintech group Intiger Asset Management
Mark Rantall, the former chief executive of the Financial Planning Association of Australia, has emerged as the new non-executive chairman of fintech group Intiger Asset Management, which is eyeing a listing on the Australian Securities Exchange. As first revealed by Street Talk, Mr Rantall, who exited the FPA in February, said he left with the “clear objective of taking on non-executive director roles”. He took on the chairman role after a recommendation by fellow adviser Patrick Canion, of ipac WA. Intiger is a fintech group seeking to slash operating costs for advisers and help them compete more efficiently with robo-advice, which is threatening traditional advice models by providing financial plans […]
Invoice2go launches mobile payments feature in Australia
SYDNEY, April 12th, 2016: Invoice2go, the App Store’s leading invoicing app, has today launched its highly anticipated mobile payments feature allowing small businesses to receive debit and credit card payments, without having to invest in EFTPOS infrastructure. The launch supports Invoice2go’s vision to make it possible for people to run their own business by providing the simplest way to look professional, track their time, improve cash flow and untangle themselves from paperwork. With more than $1 billion invoiced per month globally, and $200 million per month in Australia alone, the new payments feature, powered by Stripe Connect, is positioned to immediately help Australian business owners across all industries get paid […]
