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 […]
US giant buys Canberra online transaction business eWAY for $US50m
Canberra multimillionaire Matt Bullock has sold his online transaction company for more than a thousand times the money in his bank when he started it. When the Pearce man developed eWAY 18 years ago, he had $50,000 to his name. On Friday, he sold it to American payment technology services giant Global Payments for $US50 million. Understandably, Mr Bullock feels a great sense of achievement from his brainchild that grew to doing 5.8 billion online purchases last year, or about a quarter of all internet transactions in Australia. “What this shows is that you can do anything in Canberra,” he said. “It is a beautiful place and there are a […]
Australia-Korea Business Council event with Senior Trade Commissioner Brett Cooper
Australia-Korea Business Council members and guests are invited to join us on Friday the 15th of April to hear from Brett Cooper, Senior Trade Commissioner Korea. Brett Cooper will provide an informal update on the Australia-Korea trade and investment relationship. Date: Friday 15 April 2016 Time: 7.30am – 8.30am Venue: Ernst &Young, Level 33, 680 George Street, Sydney Cost: Free A light breakfast will be provided. Limited places available. RSVP essential to [email protected] There are strong growth opportunities between Australia and Korea in the Fintech sector so this event is worthwhile attending. And for more information please click here.
Australians doing business in China
Trade Minister Steve Ciobo will lead one of the country’s largest business delegations ever assembled to Australia Week in China, this year held across several Chinese cities. The aim is to highlight commercial opportunities in various business sectors, ranging from agribusiness and finance to education and food. We asked four Australian executives doing business with and living in China five questions. They share the challenges and the opportunities of doing business in China, as well as the importance of “guanxi” — a concept largely credited to the Chinese and their approach to networking and relationships. What inspired you to do business in China? China is one of largest and most […]
ASIC talking to Singapore on fintech deal
The Australian Securities and Investments Commission is talking to the Monetary Authority of Singapore about an agreement to ensure that regulation does not hinder the progress of fintech start-ups looking to operate across the countries’ borders. Fintech regulation has been a key agenda item at recent meetings of peak financial regulators across the globe and although the discussions between ASIC and MAS are at an early stage, it is understood both regulators are enthusiastic about seeing a deal come to fruition. The agreement would be based on a similar co-operation agreement between ASIC and the UK Financial Conduct Authority, which was signed just before Easter and was the first of […]
Ignition Wealth launches “Teams” automated advice technology for Financial Businesses
Ignition Wealth today announced the launch of their new technology solution ‘Teams’, designed to support professional financial businesses as they adopt automated financial advice. Ignition Wealth will lead the presentations at the Melbourne Afiniation Fintech Showcase with the launch of their new Teams product. The Melbourne Afiniation Fintech Showcase will take place on April 14 at the Grand Hyatt Melbourne. CTO Mike Giles will demonstrate the new Ignition Wealth Teams technology to a crowd of over 200 fintech professionals and investors. “The wealth industry has traditionally been heavily paper based and the first opportunity is to bring those processes, including buying and selling of stocks and reporting, into an online […]
Resisting Fintech disruption amounts to a loss of $13 billion in aggregated revenues
Sydney, Australia, 4 April 2016 – The Australian Banking sector is heavily regulated to prevent monopolies and collapses, and is guided by the Four Pillars Policy of the Australian Government which maintains the viability and separation of the “Big Four” banks: Commonwealth Bank of Australia (CBA), Westpac Banking Corporation (WBC), National Australia Bank (NAB), Australia and New Zealand Banking Group (ANZ). Following the global financial crisis, in 2008, for reasons motivated by stability rather than customer satisfaction, consumers flocked to the ‘Big Four’ who benefited by recovering market share previously lost to the smaller financial institutions. While the Big Four are more dominant than ever, future bank profitability is more […]
