BigFuture and Booster Launch Strategic Partnership
BigFuture Pty Limited and Booster Financial Services Limited are pleased to announce their strategic partnership. Booster, a New Zealand based financial services company, will implement BigFuture’s current technology and work with BigFuture to create the next wave of technology for financial advisors. Booster will take up to a 20% equity stake in BigFuture, pay an annual development fee and will have exclusive rights to the BigFuture technology in New Zealand. According to Donald Hellyer, CEO of BigFuture, “Booster is the perfect organisation to partner with BigFuture. The two companies have a common view on where technology is heading for the financial advice and banking industries. Booster provides BigFuture long-term financial […]
Findex launches Family Office in Australia
Findex, Australia’s largest privately owned accountancy and financial advisory firm, today launched Family Office, an entirely new financial offering that gives individuals and businesses a single point of contact to build and maintain their wealth. For the first time, clients of Findex will gain access to their own office of financial and business advisory specialists for their personal and business affairs. Their adviser will act as a single point of contact and provide access an expanded suite of services under the one umbrella. These range from tax, wealth management, risk consulting, lending, insurance, self-managed superannuation, audit and assurance, management consulting to business advisory and more. The offering builds on the […]
Australians are using P2P loans to consolidate debt
New data from P2P lender RateSetter shows an average loan of $20,666. Peer-to-peer (P2P) lending, while having first been introduced in 2012, is still a new concept to many Australians. However, the idea seems to be catching on. The P2P lending space is becoming more competitive, with new lenders being announced all the time, and more Australians are starting to take advantage of the competitive rates on offer. According to new data, these rates are being utilised by borrowers looking to reduce the interest they’re paying on current debts. P2P lender RateSetter has released an update of its loan book data, which contains details of every loan originated since 2014. Previous […]
Wilsons, Bell Potter in market for hot fintech Afterpay
Payments company Afterpay is seeking to raise $30 million in a placement through Bell Potter Securities and Wilsons on Monday. Afterpay shares went into a trading halt on Monday morning as its brokers started drumming up interest from potential backers. The brokers were seeking to raise $30 million at $2.40 a share. The offer was priced at a 5.9 per cent discount to the last close of $2.55. Afterpay is seeking the equity injection to fund growth, with the payments company experiencing a strong number of retail merchants seeking its online payments technology. Bids were due at 4pm on Monday, according to terms sent to fund managers. Afterpay has traded […]
InvestmentLink signs Harmonee as first data grant recipient
InvestmentLink, Australia’s largest independent financial data source, today announced financial planning software developer Harmonee as the first recipient of the company’s data grant. The grant is designed to support emerging companies in the Australian fintech sector and provides access to a feed of financial account and investment fund data at no cost for a period of 18 months. Harmonee is developing a platform to help financial advisers offer streamlined services to clients. As well as enhancing the advice offering, the platform will provide remote and mobile access to portfolios and reporting. “Data feeds are vital for us to deliver our solutions. Not only will we be able to offer real-time […]
Money for millennials: six popular investment options
Millennials have been locked out of the housing market, so are there other avenues of investment open to them? Certainly, the finance industry is working hard on creating products for younger people, but where to turn? The plan for young Aussies has always been: work hard, save your money, buy a house, start a family, then worry about the rest later. Now that the average 20 per cent deposit in Sydney and Melbourne sits at $156,000 and $115,200, respectively, part three (buy a home) in that classic four-point plan is changing. Claire Mackay, a director at Quantum Financial, says that whatever investment choice is made by a millennial investor, the […]
Can robots beat humans as financial advisers?
Jason Lim wants to save enough for a deposit on an apartment but was earning next to nothing by having his money with his bank. He wanted to get some advice on where to invest his money, but a traditional adviser was not for him. “I wanted to earn more than I could get with the bank but was not confident about the level of professionalism in financial advice,” Lim says. The 24-year-old from Melbourne opted for “robo-advice” instead. Robo-advice, or automated advice, is provided online as well as usually on smartphones and iPads. Investors answer a series of questions about themselves and, in response, they receive an investment recommendation. […]
InPayTech Limited Initial Public Offer opens today
Integrated Payment Technologies Limited (InPayTech) has today formally opened its Initial Public Offer (IPO). InPayTech is an Australian financial technology company that has created a unique payments process in support of Australia’s banking, wealth management and superannuation sectors. The Prospectus offers a total of up to 25,000,000 Shares in the Company at a price of 20 cents per Share (the Offer). The Offer seeks to raise a minimum of $3,000,000 and a maximum of $5,000,000. The company would have cash of $2,300,000 under the minimum subscription and $4,173,000 under the maximum subscription, and be debt free. InPayTech’s offer period is expected to close on 18 November, 2016. Brokers to the […]
