Why Fintech Is The Most Important Industry Right Now
This is a fantastic article on Australian FinTech. And it’s also great information to pass onto those who don’t understand what FinTech is and are unaware of how they can benefit from using Australian FinTech products. Fintech is beginning to disrupt the financial world as we know it. The financial industry is now more focused than ever on technological innovation than at any other time. It’s so important, Malcolm Turnbull referred to it in his first speech as PM. But, for those unfamiliar with the term, here’s a quick explainer. Put simply, Fintech is financial technology; a digital revolution. It’s about major changes to asset management, business and personal loans, […]
ASK Crowe Horwath new FinTech platform launched
Findex, one of Australasia’s largest accounting and financial advisory groups today announced the launch of online platform, ASK Crowe Horwath. ASK Crowe Horwath, an obligation-free, online financial problem solving service for business and individuals, allows questions to be posed by the general public and answered by Crowe Horwath advisers. There are no boundaries to the questions that can be asked, with professionals covering the full spectrum of financial services. Findex has partnered with FinTech start-up FinancialAsk to provide ASK Crowe Horwath. As part of the recent FinTech boom, there has been increasing local interest in innovative start-up companies. With FinTech investment reaching over AUD$270 billion worldwide, the area is experiencing enormous interest and growth. […]
Banks V Bitcoin
Michael Pascoe raises some interesting ideas in this short segment about why the banks are interested in ensuring they don’t do business with those that are involved in legal bitcoin businesses but turn a blind eye towards better known ‘shonks’ using their services. What are your thoughts on the banks using these tactics and do you agree that APRA and the Reserve Bank should start to review this practice?
More super funds tipped to launch robo-advice
More superannuation funds are looking to implement automated “robo-advice” for members as a way of satisfying the competing demands of bringing down fees, while also improving their members’ access to financial advice. The pressure on funds to improve advice is coming from both regulators and a growing band of tech-savvy, bank-owned competitors.At the same time fees are in the firing line, and some super funds cannot afford large teams of financial advisers. “Robo-advice” is basic financial advice that a super fund can provide to members via online tools. Normally, it takes into account personal details such as the individual’s age, balance and retirement savings goals. It is increasingly viewed as […]
Equip Super teams up with fintech start-up | Money Management
Multi-sector industry superannuation fund, Equip Super, has partnered with an automated investment service to provide digital advice to the younger demographic that rarely seeks face-to-face financial advice. The super fund has teamed up with Melbourne-based financial technology start-up, Clover.com.au, which will use a goals-based approach to advice and portfolio construction, and algorithms to create portfolios that are intermittently rebalanced to meet clients’ goals. Equip Super chief executive, Danielle Press, said the partnership would allow the $7 billion fund to extend financial advice to those who do not seek it through traditional advice avenues. “We believe super funds have no option but to integrate fintech into their service offer,” she said. […]
Accel Partners’ Rich Wong: Australian start-up sector now a global player
More fantastic news on the Australian FinTech industry, and this one line sums it up best – “Australia is now on the radar of tech investors globally” The local start-up sector is increasingly being recognised as a player in the global technology arena as competition for Australian companies heats up among international venture capital funds.Accel Partners’ Rich Wong has backed more local technology companies than any other US fund and has wryly welcomed the growing interest from fellow Silicon Valley-based funds. “Australia is now on the radar of tech investors globally,” Mr Wong told Fairfax Media in San Francisco. “It creates more competition for us and we’d like to keep […]
Optus Business behind fintech startup hub Stone & Chalk – ARN
Great to see other big Australian businesses getting behind Australian FinTech Hubs and Companies to help in their growth. Optus Business is the founding communications partner for new fintech startup hub Stone & Chalk, a Sydney-based, not-for-profit Innovation Centre that houses 41 fintech start-ups. The telco will supply ICT services to a 2300 square metre collaborative facility in Bridge Street, Sydney delivering Internet, managed security and managed Wi-Fi technology and services. Optus Business managing director, John Paitaridis, said he was delighted to partner with Stone & Chalk to encourage innovation and entrepreneurship in the Australian fintech sector and support local start-ups. “Innovation and responding to change is a critical challenge […]
Ex-NAB MD launches fintech disruptor to take on majors
An ex-NAB managing director has launched a new fintech disruptor to take on the major banks, which he says could do what Aussie Home Loans did to the mortgage market in the 1990s. Officially launching on 28 September, Banjo is an online lender providing secured and unsecured loans to the 51% of SME’s who have no business lending product other than an overdraft or credit card.CEO Andrew Colliver – who was most recently managing director, business performance of corporate, institutional & specialised banking at NAB – along with a team of other ex-bankers and fintech experts, has spent the last two years building the marketplace lending platform that promises to […]
