Stockspot integrates with Class to provide accountants a direct data-feed for SMSFs
Stockspot, Australia’s leading automated investment adviser and fund manager, today announced an integration with Class Super, the leading provider of cloud SMSF administration software. The integration will provide SMSF accountants and their clients with a direct data connection from Stockspot to Class enabling income processing and enabling investment tax reporting. Accountants will be able to receive a daily data feed which includes their client’s Stockspot portfolio investments, capital gains, dividend statements and franking credits. It will also automatically generate tax summary statements, cutting down on hours of administration and analysis of taxation data. Kevin Bungard, CEO of Class, said: “Robo-advice is the fastest growing areas of retail investment […]
Fintech luring more bank customers, says UBS
More Australians will turn to start-ups for financial services in the next year, according to a UBS report, which shows incumbent banks are complacent about the threat of disruption but are also seeking to partner with fintech firms to help them cut costs and improve customer experiences. UBS banking analysts surveyed 27,914 customers of more than 210 banks in 24 countries, along with 61 management teams from banks around the world. Local UBS banking analyst Jonathan Mott along with analysts in London, New York and Tokyo contributed to the global report, titled Global banks: Is fintech a threat or an opportunity? UBS suggests the answer to the question is “Both”. […]
Stockspot launches AI for financial advice
Local automated investment adviser and fund manager Stockspot has announced a move into artificial intelligence and machine learning, launching what it says is Australia’s first digital financial assistant. Stockspot founder and CEO Chris Brycki said the AI functionality analysed the data of thousands of clients and made targeted recommendations, helping investors optimise their portfolio as it learns. He said the robo-adviser was launching as part of a new investment dashboard, designed to make tax reporting easier and give users more control over investments. “Stockspot introduced robo-advice to Australia 2014 which automated and lowered the cost of investing. We see AI and machine learning as robo-advice 2.0, it is the future […]
Acorns app hits 100,000 users
In a sign more Australians are looking to invest in their financial futures, over 100,000 users have signed up for micro-investing app Acorns since its launch in Australia in February. Hitting that milestone not only proved the app’s rapid rise in popularity, but it showed a trend among Australians “to look beyond the big four banks for investment and savings opportunities”, Acorns said yesterday. Acorns Australia managing director George Lucas said the app’s success was driven by young Australians who had discovered the benefit of making modest but regular investments, displaying an appetite for fintech innovation that quickly exceeded the growth rate of that experienced comparatively by users in the […]
Quantifeed Raises US$4.5 Million in Series A Funding
Quantifeed, a leader in digital wealth management solutions in Asia, has reached a significant milestone by closing US$4.5 million in a Series A financing round. Shanghai-based PGA Venture Partners led the investment. The funds will enable Quantifeed to accelerate expansion in key markets in the Asia Pacific region, including China. “The battle in digital wealth management will be won by the institutions with the strongest distribution and the richest customer experience. We are working with some of the top institutions in Asia to build them a customer investment journey,” said Alex Ypsilanti, CEO and Co-founder of Quantifeed. “PGA Venture Partners has an incredible track record of building successful companies and […]
Telstra Ventures poised to invest in Blockchain
Telstra is looking to invest in blockchain companies that could help the telecommunications giant profit from a boom in mobile banking. Rocky Scopelliti, a Telstra executive responsible for the telco’s relationships with its clients in the banking, finance and insurance industries said the company is doing its research on blockchain developers with a view to finding potential future partners. A blockchain is an online ledger designed to underpin the trading of digital currencies, such as bitcoin, or other types of digital payments or contracts. The nascent technology is widely tipped to have a profound effect on the global banking sector in the future. “It [blockchain] is a significant and active […]
ThinkForex rebrands to ThinkMarkets and launches ThinkTrader
ThinkForex, the leading provider of financial derivatives trading, has rebranded to ThinkMarkets and has launched ThinkTrader, its own multi-asset trading platform. With several thousand clients around the world – the new brand represents ThinkMarket’s ambition to become the world’s largest provider of foreign exchange, contracts for difference and spread bets. Essential to this development is maintaining ThinkMarket’s core values of offering its clients sophisticated but simple to use trading mechanisms, supported by high quality educational material and advanced analysis. The launch of ThinkTrader is integral to this progress. Based on the firm’s history of innovation, security and reliability, ThinkTrader was built entirely in-house and offers traders access to: Intuitive user […]
Fintech startup CurrencyVue levelling the playing field for small businesses
Aiming to shake up the global foreign exchange industry, local fintech startup CurrencyVue officially launched their innovative foreign exchange risk management platform today. The startup is backed by a private investor group including ex-SAP CEO Les Hayman and Head of Group Treasury at Tatts Group Limited Cale Bennett and is led by its founder and CEO, former foreign exchange and hedging solutions specialist Matt Tyrrell. The cloud software as a service (SaaS) platform is targeting small and medium sized businesses (SME’s) enabling them to quickly and easily identify foreign exchange risk through a visual representation of their exposure. Mr Tryrell said the devaluation of the Pound following Brexit was a significant recent example […]
