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 […]
Bravura calls for more fintech funding | afr.com
Australian FinTech company Bravura Solutions are definitely right – the government does need to put its money where its mouth is. The government are continually talking about investing but when is it actually going to happen… Technology group Bravura Solutions has asked the government to “put their money where their mouth is” when it comes to funding tech start-ups, after Prime Minister Malcolm Turnbull said Australia needed to position itself as a “nation that is agile”. Bravura, a financial services technology company that was previously listed on the Australian Securities Exchange, also hinted at a possible return to being a public company after group chief executive Tony Klim flagged improving […]
Super funds back biggest-ever Australian tech venture fund worth $200 million | afr.com
This is certainly great news for the Australian tech start-up industry. It also shows great faith in what is to come out of the Australian tech sector in the coming years. Leading entrepreneurs and two major superannuation funds will combine forces to launch Australia’s biggest-ever technology start-up venture capital fund, with more than $200 million set aside to back growing companies. The new fund will be managed by Blackbird Ventures and has been backed by 96 technology entrepreneurs including Atlassian co-founder Mike Cannon-Brookes, as well as two major superannuation funds, First State Super and Hostplus Super. It will target tech companies that would previously have headed overseas in search of […]
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
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
