Reinventure backs Flare HR to disrupt default super
Westpac Banking Corp’s venture capital fund Reinventure Group has taken a stake in Flare HR, a start-up that has built software that promises to enhance company engagement with employees and disrupt the $9 billion default superannuation market. Reinventure Group has invested more than $1 million in a recent seed fundraising round by Flare, which has spent a year building a cloud-based platform that will launch in May. The Sydney-based company has a dozen full-time staff working in the fintech hub Stone & Chalk and expects to grow to 30 people over the next six months. Flare’s software, which manages the on-boarding of new employees and various human resources functions including […]
Insurers brace for mega fintech shake up
The insurance industry has largely remained the same in the past 100 years, but the sector is in for its biggest shake up as investors continue to pump billions of dollars into “insurtech”, fuelling sweeping changes through technology. Insurance is the second most disrupted industry today thanks to a growing number of start-ups and technology companies eyeing slices of the insurance pie. Research from PwC found that the global insurance industry ranked second only behind media and entertainment as the industry that is most significantly affected by technological change. And Australia, where the general insurance market is dominated by players such as Suncorp Group, IAG and QBE Insurance Group, is […]
Bravura Solutions: Technology Provider of the Year
Congratulations to Australian FinTech company Bravura Solutions who have won the Technology Provider of the Year at the FStech 2016 awards. Bravura Solutions Pty Limited is a trusted provider of software solutions for the wealth management, life insurance and transfer agency industries, underpinned by functionality rich technology that enables modernisation, consolidation and simplification. Now into its 16th year, FStech Awards took place on 17 March at the London Marriott Hotel, Grosvenor Square. Lloyds Banking Group, Misys, VocaLink, Barclays, LV=, SWIFT and Bank of America Merill Lynch were among the winners last time around. At the 2015 FStech Awards, over 450 of the financial services sector’s best and brightest were out in […]
The FinTech future is here
Viewing the below chart of web searches, you could be forgiven for thinking that fintech has only really emerged in the past year. But the financial services sector has been innovating with technology for centuries – so why has it got so big recently? Source: Google The coming together of financial services and technology is nothing new. It will come as no surprise to know institutions have been using technology to improve their middle and back offices for as long as computers have been around. We used to call this banktech. In fact, banktech can be traced back to the 18th and 19th centuries when traders would use carrier pigeons […]
IAG makes ‘smart move’ to name Peter Harmer as innovation boss
Insurance Australia Group has appointed former commercial insurance boss Peter Harmer as chief executive of its new digital innovation hub, as the $14.4 billion insurer ramps up its technology drive. Source: IAG makes ‘smart move’ to name Peter Harmer as innovation boss
