Standardisation of data access crucial to development of Australian fintech industry
Media Release: Sydney, 4 April 2016 – One of the major challenges facing the emerging Australian fintech sector is the lack of a standardised format for accessing financial data. The complexities of accessing sufficient institutional and client data will be a major limiting factor for many of the fintech companies now trying to establish themselves in the Australian and international markets. Earlier this month, in its statement on the fintech sector, the Government highlighted the need to increase data availability across the financial service sector, to allow new products and services to be developed and support new offerings made available to the market. While supporting the Government’s initiative, InvestmentLink Chief […]
Decimal to roll out robo-advice for instos
Decimal has announced today it will launch two robo-advice packages designed to help big businesses break into the emerging automated advice market sooner. In a statement, the company said Eqilize is a solution geared towards superannuation and financial institutions that want to offer clients robo-advice but do not have the resources to build their own. At the same time Decimal introduced Tentalon, a “fully customisable technology stack” that allows businesses to create purpose-built solutions. Eqilize will be presented to the industry at an event on 28 April, while Tentalon will be rolled out for major banks in early May, the statement said. Decimal chief executive Nic Pollock said the two […]
Signal Ventures hunts Australian early stage tech startups with $10m fund
Early stage Australian tech startups will soon have a fresh option for seeking funding with the formation of a new $10 million venture capital fund backed by US and Australian investors. The fund is to be run by Signal Ventures, which has been founded by Melbourne-based startup industry backer Atlanta Daniel and experienced US-based tech investor Niel Robertson. It is in the midst of raising a $10 million warchest, and expects to have closed its funding round by the end of April. The fund will target so-called seed investing rounds, or the first external funding round for up and coming startups, and is likely to inject around $150,000 to $250,000 […]
Samsung Pay goes with Amex first
The race for digital wallets is heating up in Australia and it’s great to have giants like Apple and Samsung battling it out. This can only mean one thing – great results and products for consumers! Samsung has confirmed it will join the re-boot of the digital wallet race in Australia in 2016, becoming the fourth country to get Samsung Pay after South Korea, the US and China.Like Apple Pay, Samsung will be going with American Express first and add other cards later. American Express payments have been available on Apple Pay since November. Bank issued Visa and MasterCard will initially only work on Android Pay, which is understood to […]
Just what is Fintech?
Financial Technology, also known as FinTech, is a line of business based on using software to provide financial services. FinTech companies are generally startups founded with the purpose of disrupting incumbent financial systems and corporations that rely less on software.[1] Global investment in FinTech more than tripled to $4 billion in 2013 from $930 million in 2008.[2] The nascent FinTech industry has seen rapid growth over the last few years, according to the office of the Mayor of London. Forty percent of London’s workforce is employed in financial and technology services.[3] In the Asia Pacific region, the growth will see a new FinTech hub to be opened in Sydney, Australia, in April 2015.[4] There is already a number of strong […]
