Afterpay: Ron Brierley backing fintech start-up | The Australian
Legendary corporate raider Ron Brierley and a host of alumni from his former Guinness Peat Group have joined a group of wealthy investors in backing online commerce-tech start-up Afterpay to target the $100 billion market for online retail and e-services. Source: Afterpay: Ron Brierley backing fintech start-up | The Australian
Local business launches first social finance network
If there has been one area of industry disruption and expansion online recently, it is in the area of financial technology companies. One new company, dfinanz, which was started in Queensland last month by a team of financial professionals, says it is the first global social network for finance. Source: Local business launches first social finance network
P&N Bank to trial Decimal’s financial advice platform
Decimal Software, an Australian Securities Exchange-listed company that has developed a robo-advice platform, has entered the mutual banking market, striking an agreement with WA-based P&N Bank. Under the deal, which could be announced to the ASX as early as Tuesday, P&N will evaluate Decimal’s cloud-based platform with a view to implementing it to enhance the experience of customers shopping for financial advice. Decimal’s software is already being used by QSuper and Mercer, and the Sydney-based company has plans to sell into other financial services business, including banks, in Australia and the United States. It is hoping to capitalise on the need for financial institutions to accelerate their response to consumer-driven […]
Australia a hotbed for digital banking tests: Citi
Banks are “all moving too slow” when it comes to providing digital products that are relevant to customers, according to Heather Cox, the head of digital for one of the world’s most powerful consumer banks, Citi.”We’re all moving too slow – and we have to figure out how we are going to be really relevant in people’s lives,” Ms Cox, who was recently named Digital Banker of the Year by American Banker in 2015 Source: Australia a hotbed for digital banking tests: Citi
Robo-adviser Stockspot raises capital from H2, Rocket Internet
Stockspot, a robo-adviser seeking to disrupt wealth managers by offering a low-cost, automated financial advice process, has completed a capital raising and welcomed onto its register the Berlin-based start-up investor Rocket Internet, and H2 Ventures, the new fintech venture capital fund run by brothers Ben and Toby Heap.Stockspot, founded in 2013 by former UBS portfolio manager Chris Brycki, has 3000 registered users after launching in May last year. It won’t disclose funds under management but says these have tripled this calendar year. Source: Robo-adviser Stockspot raises capital from H2, Rocket Internet
Caitlyn Argyle crowd-funding Gold Coast house deposit on Indiegogo | Gold Coast Bulletin
THE property market on the Gold Coast can be near-impossible to break into for young people but a savvy 17-year-old might have come up with an ingenious solution. Caitlin Argyle wants to crowd fund her first home deposit. Source: Caitlyn Argyle crowd-funding Gold Coast house deposit on Indiegogo | Gold Coast Bulletin
UBank opens door to start-ups
Lee Hatton, the new chief of National Australia Bank subsidiary UBank, has opened the door to partnering with financial technology start ups to enter the small business market, as she eyes longer-term growth opportunities… Source: The Australian news
AMP advises fintechs to seek bigger partners
Australian fintech start-ups looking to expand their businesses will need to partner with big companies that already boast large customer bases for a better chance of success, wealth giant AMP says.Craig Meller, chief executive of AMP, said it was unlikely a large “disruptor” would swoop into the Australian financial services sector and shake up the market, so smaller fintech companies should seek large corporates to tap their distribution footprint. Source: AMP advises fintechs to seek bigger partners
