Ignition Wealth previews single page financial wellness profile
Ignition Wealth took the stage at last week’s dynamic Class CUP Connect conference event to unveil the latest development in their world leading digital financial technology. Ignition Wealth presented at the Class CUP Connect conference as partners of Class Super. The Ignition Wealth technology stack is fully integrated with Class Super, the leading cloudbased SMSF administration software. Class Super customers can now seamlessly access Ignition Wealth digital financial advice via the Class Super portal. Using the latest in cloudbased financial aggregation technology the new Ignition Wealth technology provides consumers with a holistic, interactive, personal financial wellness profile. One simple registration process allows the consumer to aggregate all of […]
Fintech needs security baked in from the start
Fintech has been labelled a modern day gold rush fuelled by ambitious entrepreneurs and innovative technologies and consumer demand. KPMG and CB Insights’ “The Pulse of Fintech”report found that global investment in fintech currently sits at $13.8 billion with $4.5bn invested in the Asia-Pacific, across 140 deals. But as the relationship between new technologies, such as bitcoin and blockchain, and financial services deepens, so do the threats posed by increasingly sophisticated hackers. No market is more affected by cybercrime than financial services. PricewaterhouseCoopers’ 2016 Global Economic Crime Survey found that 48 per cent of financial sector respondents reported to have been affected by cybercrime, compared with 36 per cent across […]
FINCAST has secured a pilot programme with OCBC
Australian headquartered Fintech start-up, FINCAST, has secured a pilot programme with Singaporean headquartered Asian bank OCBC as its first deal. Managing Director and Co-Founder, Andrew Connors, commented, “the appetite for and commitment to innovation by Asian banks means the Australian big four banks are being left behind. Major Asian banks like OCBC aren’t just kicking the tyres on new technologies that will advance their business, they are firmly focussed on having a first-mover advantage by utilising technology”. “We are still hopeful that early adopters of our technology will include an Australian bank or corporate partner of our home, the Stone & Chalk Fintech hub”. The pilot between FINCAST […]
Equip launches pilot program for Equip MyMoney robo investment service
Equip is piloting its robo investment service, branded Equip MyMoney, with a select group of members, with release to all members planned by the end of the month. Equip MyMoney is the fund’s custom-built superannuation version of Clover.com.au’s automated investment service and will help members make the right choice from the fund’s existing investment options based on their risk profile. This is calculated from user responses to a short series of questions. Equip’s Executive Officer, Member Relationships, Justin Sadler, said: “Equip MyMoney will be a quantum leap forward in the online experience and capability available to our members, and reflects our commitment to on-going development of our financial education and […]
Rubik joins forces with Class
Rubik Financial Limited (ASX: RFL), a leading fintech company delivering innovative banking, wealth and mortgage solutions to the financial services industry, has partnered with Class Super Pty Ltd, to provide advice technology for accountants who are limited licence holders. The partnership is a timely one given the change to regulation as part of the FOFA reforms which came into effect on 1 July requiring accountants to obtain the newly created ‘limited’ AFS licence in order to continue giving advice to their clients about SMSFs. According to Rubik CEO, Iain Dunstan, “As part of Rubik’s omni-channel offering, the Provisio module is perfectly suited to accountants because of its ease of use […]
Fintech platform revenues set for massive rise: Juniper
Fintech platform revenues for unsecured consumer loans issued using machine learning technology are set to jump by a whopping 960% globally over the next six years, according to new research from Juniper. According to the latest report on the worldwide Fintech market from Juniper Research, revenues will rise to US$17 billion by 2021, with spending advancing rapidly due to the highly data-driven nature of the market, “meaning that AI integration is likely to spell substantial benefits”. Juniper says that until recently, machine learning was too expensive and computationally time-intensive to break into the mainstream, while access to extensive data sets for algorithm training were limited. Research author Steffen Sorrell says […]
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”. […]
