Fintech has chance to capitalise on Whatsapp, WeChat and more, says Citi’s Linda Duncombe
Integrating financial services into messaging applications such as Whatsapp and WeChat is the next big opportunity for the fintech sector, Citibank global fintech chief marketing officer Linda Duncombe says. The environment where consumers are communicating is changing and the financial services sector needs to develop its products to changing habits. “Look at messaging apps and their growth, it is phenomenal,” Ms Duncombe told The Australian Financial Review. “I think about my life, living in New York, Whatsapp is a huge part of my life and how I stay engaged and connected to my family and friends in Australia. “When you hear the word disruption … no consumer is saying that. […]
NAB launches instant card feature with NAB Pay
Whether you’ve lost your card or left it at home, you can now use NAB Pay to make contactless payments with your Android phone. NAB is the latest bank to launch a new feature to add to the contactless payments bandwagon. With the launch of a new instant card feature on the NAB Pay app, customers with compatible Android devices can now use their phone to make payments if they’ve lost their card. As a replacement card typically takes a few days to arrive, the feature is an easy way for cardholders to continue making payments without their card. You can use your Android phone for payments wherever contactless cards […]
Which fintech innovations are really adding value to customers?
Financial services, of all sectors, has seen some of the most significant technology innovations in recent years. Banks and insurance companies have been very keen to leverage technology in such a way that is mutually beneficial to both vendor and consumer, and now even superannuation is getting involved in the technology revolution. While there is a lot of innovation happening for the sake of it, not all of it is useful for the end user. It sounds simple, but what we learned as we developed our automated SMSF solution is a lesson that a lot of other financial services apps seem to forget at times; good design principles that keep […]
Fintech is going to be much bigger than you think
If payments can be made anywhere, anytime, across any device, why do you need a currency? Or even a bank? The “fintech” revolution is upon us – but what we’ve seen may only be the start of it. Fintech – a term coined with the listing of peer-to-peer lending platform LendingClub on the New York Stock Exchange in late 2014 – is not only a portmanteau of ‘financial technology,” it describes a whole new industry composed of companies that use technology to make financial services more efficient. It’s big, it’s growing and it’s disruptive. “Fintech is set to change finance as profoundly as the issuance of the first permanent banknotes […]
2 Upcoming FinTech IPOs
For decades financial services in numerous flavours were the exclusive province of the banking sector. To get a loan, pay bills, apply for credit cards, or transfer money, consumers and corporations alike turned to banks. It is hard to imagine the rise of the Internet is little more than 20 years old and the rise of smartphones is even more recent – less than 10 years. As a direct result new industries are emerging, among them FinTech, or financial technology. FinTech companies offer alternatives to the banks and as such stand ready to massively disrupt the way financial services are delivered. Direct peer-to-peer lending and crowdfunding are changing the way […]
1st Annual Australian FinTech Awards 2016
Congratulations to the winners of the 1st Annual Australian FinTech Awards 2016! FINTECH INNOVATION IN PAYMENTS – Afterpay FINTECH INNOVATION IN WEALTH MANAGEMENT (ROBO ADVICE) – Owners Advisory by Macquarie Group FINTECH INNOVATION IN LENDING (FOR FINTECH) – SocietyOne BEST INNOVATION IN CYBER-SECURITY & ANTI-FRAUD – Entersoft BEST FINTECH COMMUNICATIONS CAMPAIGN – Acorns BEST RESEARCH IN FINTECH – Panalitix BEST FINTECH-BANK COLLABORATION OF THE YEAR – OnDeck Capital’s partnership with CBA FINTECH LEADER OF THE YEAR – Daniel Foggo of RateSetter FEMALE FINTECH LEADER OF THE YEAR – Loretta Joseph of the Sydney Stock Exchange FINTECH CTO/CIO OF THE YEAR – Glenn Riddell of RateSetter INSURE-TECH STARTUP OF THE YEAR – […]
Fintech to invest $1b into blockchain this year
Financial and technology firms are expected to invest more than $US1 billion to bring blockchain technology to capital markets in 2016. That’s according to a new survey from Greenwich Associates, where a majority of participants said blockchain has the potential to change markets within the next five years. The 134 interviewees, including executives at banks, exchanges, asset managers and blockchain technology companies, said the main obstacle hindering the technology’s widespread use was a “vested interest” in legacy systems. “The financial sector will continue to put its weight behind blockchain this year,” Richard Johnson, vice president for Greenwich’s Market Structure and Technology group, said in the report. “Blockchain is beginning to […]
Examining the fintech appeal of business lending in Australia
A question often asked in the fintech space is, “Which area of fintech has the greatest potential?” The answer invariably sticks with the obvious – insurtech, blockchain, mobile payments, peer-to-peer lending and banking – and while focus to these areas is deserved, business lending has been exponentially gaining steam. Lenders are flocking to the market and it seems every week there is a new entrant, partnership or innovation. The online business lending space is full of diversified products and lenders are constantly looking for new ways to benefit business borrowers. The market is becoming flooded by choice. So, what is the appeal? It’s simple. The space exemplifies fintech as it […]
