The CBA has joined eight other massive banks to take the technology behind bitcoin mainstream | Business Insider
Nine of the world’s biggest banks on Tuesday threw their weight behind blockchain, the technology that powers bitcoin. Barclays, BBVA, Commonwealth Bank of Australia, Credit Suisse, JPMorgan, State Street, Royal Bank of Scotland, and UBS have all formed a partnership to draw up industry standards and protocols for using the blockchain in banking. The partnership is being led by R3, a startup with offices in New York and London headed by David Rutter, the former CEO of ICAP Electronic Broking and a 32-year veteran of Wall Street. Source: The CBA has joined eight other massive banks to take the technology behind bitcoin mainstream | Business Insider
Growth Hacking Competition
Are you the Intern that Uber missed out on? Australian FinTech company HashChing is organising a marketing growth hacking competition in Credit Services to select their next team of super interns that want to claim their mark on disrupting the Mortgage Industry. When: Fri, 16th October 2015 @ 10 am till Mon, 19th October 2015 (10 am) Where: At the Start-up office at 10/50 Victoria Rd in Drummoyne, NSW or wherever you want (but then you’ll miss out on the Fun, Buzz and Pizza’s) This is a TEAM event, so your entry should consist of 3-4 team members covering the following skills sets: Marketing UI Design Web Development Prizes: The […]
Third time lucky for Bitcoin Group at an IPO?
All the best to Australian FinTech company Bitcoin Group for their launch on the ASX this November. Bitcoin Group are certainly pioneering into the future and the future is now! Bitcoin Group, slated as the second digital currency company to list on the ASX, is set to finally float after twice revising its listing date since it first lodged its prospectus with the corporate cop in June. The bitcoin “miner” lodged a replacement prospectus on Friday, with a listing date set for November 11. The bookbuild for the offer started on Tuesday and will close on October 30. Source: Third time lucky for Bitcoin Group at an IPO?
P&N seeks fintech partners – The West Australian
WA’s biggest locally owned lender, P&N Bank, will scout potential partnerships and other investments to keep pace with the technological changes gripping the banking industry. Having dipped its toe in the fintech sector last year by taking a small equity stake in a superannuation software start-up, chief executive Andrew Hadley says the mutual bank “certainly has the intent of partnering, collaborating and potentially taking small equity positions” in other businesses of interest. Source: P&N seeks fintech partners – The West Australian
Bitcoin could disrupt banks warns Westpac boss | afr.com
How long will it be until Bitcoin starts to make a real impact on the incumbent banks…??? Westpac Banking Corp chief Brian Hartzer describes bitcoin and the blockchain as “potentially disruptive” technologies which could be “quite powerful from an efficiency point of view” but says there’s no need for banks to panic about being cut out from the monetary system because any impact will only come in the long term. The blockchain is technology that validates transactions made in bitcoin, digital money that is not controlled by any bank or government, but rather by an open network managed by its users. If it ever takes off, bitcoin could transform the […]
ANZ vows to take fight to fintech start-ups | The Australian
ANZ has hit back at suggestions that banks only innovate for short-term gains, declaring other industries should be worried about being put out of business by the banking sector. Meanwhile, Westpac chief Brian Hartzer said it was actually important for banks to not get too “mesmerised” by innovation and “inventing cool new stuff”, remembering that customers were at the heart of banking. Last week, Danny Gilligan, managing director of Reinventure Group, said banks and other financial services players would struggle to battle disruptive “fintech” start-ups because their pay packets and investment policies were short-term focused. Source: ANZ vows to take fight to fintech start-ups | The Australian
ANZ, Bendigo join Matchi fintech platform | afr.com
Here’s another article on how some of the big incumbent banks are getting in on the fintech act… ANZ Banking Group and Bendigo and Adelaide Bank have joined a global matchmaking platform called Matchi, to help them link with global start-ups, in a sign incumbents are not limiting their engagement with fintech to local hubs like Stone & Chalk. KMPG last week announced a deal with Matchi that will provide clients of the firm with access to the tech platform, which serves as a bridge for traditional banks and start-ups to identifying partnership opportunities. Source: ANZ, Bendigo join Matchi fintech platform | afr.com
AMP invests in fintech start-ups Macrovue and MoneyBrilliant | afr.com
Here is yet another article on a well-established financial institution investing in some fantastic Australian FinTech companies like Macrovue and MoneyBrilliant. It seems the ‘sleepy giants’ of the Australian finance industry are starting to wake up and realise the importance and positive effect that Australian FinTech companies are having and going to have on the market. AMP has taken equity stakes in Macrovue and MoneyBrilliant, two fintech start-ups that the wealth giant believes will help it expand its offering to self-managed superannuation funds and win new clients for its network of financial advisers. The deals are the first by AMP New Ventures, a specialist unit quietly established last year, which […]
