Money Transfer Fintech Nium to Acquire Cash Player Socash
The deal for Nium to acquire Socash will provide local payment acceptance for digital commerce.
Australian investors lag behind the global trend for passive funds and are playing catch up on ESG, Calastone research shows
The shift in investor preference for passive funds over active funds continued inexorably over the last two years, Calastone research shows.
ChimpChange growth supercharged by U.S. tax season
ChimpChange Limited, Australia’s only listed digital banking platform, is pleased to present its March 2017 quarterly report on business progress. Strong organic growth supercharged by the U.S. tax refund season The Company delivered strong growth across all areas of its business and continued to confirm the opportunity in the US market for an innovative tech-driven fee-free consumer banking product. Key metrics including customer deposits, new customers, and customer spend utilising the ChimpChange MasterCard all grew ahead of forecast and delivered company-wide records during the quarter. The period also saw a seasonal boost in deposits in the form of tax refund inflows, which we now expect to experience annually, and which […]
Fintech launches robo-planner for SMSFs
Australian fintech start-up, A.S.A.P, is launching a digital advisory platform for SMSFs in response to the removal of the accountants’ exemption from the financial services licensing regime. A.S.A.P chief executive, Jim Hennington, said that the eponymous platform had been developed to fit the changing needs of SMSF clients and accountants. “We… have found a way to use technology as the elegant solution to disruptive changes in the law,” he said. “It helps SMSF trustees and their accountants, while supporting an important public policy objective.” Hennington said plenty of SMSF accountants had yet to decide whether to refer client questions to licensed advisers in the period from 1 July, or whether […]
Can robots beat humans as financial advisers?
Jason Lim wants to save enough for a deposit on an apartment but was earning next to nothing by having his money with his bank. He wanted to get some advice on where to invest his money, but a traditional adviser was not for him. “I wanted to earn more than I could get with the bank but was not confident about the level of professionalism in financial advice,” Lim says. The 24-year-old from Melbourne opted for “robo-advice” instead. Robo-advice, or automated advice, is provided online as well as usually on smartphones and iPads. Investors answer a series of questions about themselves and, in response, they receive an investment recommendation. […]
RateSetter Australia passes $50 million in record time
This month RateSetter achieved an important milestone – passing $50 million in funds matched between investors and creditworthy borrowers. This milestone was reached in record time for an Australian peer-to-peer lending platform. RateSetter Australia CEO, Daniel Foggo, commented: “From the start our objective has been to give Australian investors and borrowers a better, fairer deal. Our growth since launch shows the enthasiam with which Australians are embracing an alternative that offers them better value and real convenience compared with traditional financial institutions. “Combined with the success of RateSetter in the United Kingdom, this record-breaking growth makes the RateSetter group one of the largest and fastest growing online retail money markets […]
