Five steps to get started with blockchain
Since its first implementation in 2009, we have seen Bitcoin adoption spread across different countries and become a serious competitor to traditional financial transactions methods, creating new business opportunities for both corporations and governments. As a tech savvy country and one of the earlier adopters of bitcoin and other e-currencies, Australia has seen considerable interest in blockchain technology that underpins bitcoin and other crypto-currencies. Just in the past few months, we have seen an Australian start-up claiming to have created the first local blockchain, and Australia Post has begun looking into the use of blockchain technology in the areas of identity, registries and e-voting. And a few days ago, Commonwealth […]
Class partners with MA Operator
Class, the developer of Class Super and Class Portfolio, has partnered with MA Operator, a new fintech which provides managed account and direct client portfolio services for financial advisers. The partnership will enable Class users to securely and instantly automate client data entry and synchronise transactions in MA Operator. This will further increase the efficiencies already offered by MA Operator which reduces the cost and effort of administration, on boarding and ongoing service obligations of monitoring and managing client portfolios. MA Operator also provides sophisticated rebalancing, analytics and automated ROA generation. These features combined with Class’ administration and reporting capabilities will help advisers to deliver more efficient and […]
digi.cash launches digital Australian dollar
digi.cash, a spin-off company of the Capital Markets CRC, today officially launched the digital Australian dollar. The electronic version of the currency is digitally ‘minted’ as electronically signed coins and banknotes. These can be held on smartphones, computers or storage media. Just like cash, online users can transfer coins and notes between each other via free, instant transactions. The encryption technology used means that the electronic banknotes can securely circulate over public communication networks, without the risk of theft or counterfeiting. Digi.cash founder Andreas Furche, along with Chairman David Skellern and Director Peter Clare, said the launch represented a fulcrum moment for Australian FinTech. “Unlike other digital money products, digi.cash […]
Prospa Referral partner
Robo-advice start-ups go beyond disruption to new clients
Robo-advice start-ups are looking to use technology to drive massive expansion in the financial advice market, rather than to simply disrupt it. While established players, such as AMP, and the wealth management arms of banks are among those vulnerable to robo-advice, start-ups claim they are not targeting their market. “People talk about disrupting the financial services industry with robo-advice, but only 20 per cent of the country gets advice,” David Pettit, chief executive of Perth-based robo-advice start-up Future Penny, told The Australian. “There’s a massive piece of the market that aren’t seeking or engaging with advice professionals.” Robo-advice delivers investors a low-cost investment management portfolio based on algorithms and technology. […]
NAB, Westpac and Qantas invest in Data Republic
National Australia Bank, Westpac Banking Corp and Qantas have taken stakes in Data Republic, a Sydney-based start-up that has designed a platform which allows companies and government to exchange data in a secure environment. The deal indicates some of Australia’s largest companies are considering sharing data with each other to enhance service delivery but under strict controls to protect customer privacy. NAB, Westpac and Qantas have invested a combined $10.5 million into Data Republic’s recent Series A equity fundraising round. The stakes were acquired through Qantas Loyalty, NAB’s venture capital fund, NAB Ventures, and Westpac’s venture capital fund, Reinventure Group. The deal is Qantas’ first investment in a tech start-up […]
