P2P lifts in popularity amid miserable year for banks
With deposit rates at low levels and the local share market still choppy, peer-to-peer lending has become an interesting alternative for Australian investors over the last few years. But some cracks in the model appeared in the US recently when one of the biggest peer-to-peer platforms was caught up in a scandal that it is now scrambling to fix, offering a warning for the Australian industry about the importance of transparency. LendingClub had been seen as one of the leading lights of this space in the US, amid a range of players that use technology to match investors with borrowers, cutting out the overheads incurred by banks and aiming to […]
$500m Silicon Valley crowdfunding start-up Tilt heads to Australia
US crowdfunding start-up Tilt will set up shop in Sydney, letting Aussies chip in to pay for group activities. Tilt, a Silicon Valley social money exchange start-up valued at more than $500 million, will expand to Australia, enabling individuals to chip in to pay for group activities. The company, which has raised $US67 million ($87 million) in funding from renowned venture capital firms including Andreessen Horowitz, SV Angel and investor Sean Parker, will set up shop in Sydney, with the office being viewed as a potential headquarters for Asia Pacific expansion. The Tilt app has proved popular overseas, since the company was founded in 2012, as it promises to take […]
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What You Really Need To Know About Working In Fintech
This is a great article to read if you’re thinking of working for or an Australian FinTech company From the outside, the tech industry can look like a homogenous sector, populated either by entrepreneurial whiz kids or bearded computer ‘geeks’. However, as with most industries, once you get beneath the surface, it becomes clear that the people who inhabit the tech industry are a varied bunch, utilising different skill sets and working in sub-sectors that have little in common. One of these sub-sectors, financial technology (or fintech), is attracting a range of talent, particularly workers who, in the past, may have been attracted to investment funds, law firms, or accountancy […]
FinTech Currency Technology
Currency Foreign Exchange, Cryptocurrency and Digital Wallets make up the largest aspects of the FinTech revolution in Currency. Foreign Exchange This is one area that as a consumer you can almost feel the banks taking advantage of you. Whether it’s the currency conversion fees that are added to the ‘pedestrian’ exchange rate they give you or the additional fees a bank charges for you to access your own cash. The introduction of digital wallets, cryptocurrency and new approaches to foreign exchange and payments all form part of the FinTech currency movement. By introducing the ability for you to trade currency with a traveller looking to come to Australia when you’re […]
