Author: Reposted by Australian FinTech

NAB board member to float AI start-up on ASX
Apr
15

NAB board member to float AI start-up on ASX

An artificial intelligence start-up founded by NAB board member Geraldine McBride has raised $3 million, led by Perennial Value Management, ahead of an anticipated float later this year. The company, which was founded in 2013 by mother-daughter duo Ms McBride and Amy Johnson, utilises customer data within big energy companies, banks and insurers that has traditionally been siloed, and applies artificial intelligence to be able to provide more personalised experiences for customers. For example, a banking customer could identify that they are saving for a holiday and with MyWave's technology the bank would be able to provide automated, personalised savings advice. If the AI algorithm determined that it was unlikely […]
ASX . FinTech
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P2P borrowing up 45% year on year
Apr
15

P2P borrowing up 45% year on year

Recent surveys conducted by ASIC have made it clear that the peer-to-peer (P2P) lending marketplace is continuing to grow in conjunction with the increasing demand for alternative funding sources. During the 2017-18 financial year, new P2P borrowing increased 45% to $433m, and outstanding loans were up 59% to $518m. While these numbers have “increased significantly” from the 2016-17 figures, the data did indicate a slight slowing in the rate of investor and borrower growth, according to ASIC. Respondents reported a total of 13,446 investors and 31,421 borrowers in the P2P space as of June 2018. In 2017-18, a total of $352m was invested in the platforms surveyed.   To read […]
Borrowing . FinTech . Investing . Lending . Peer-to-Peer
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Bravura circles competitor
Apr
12

Bravura circles competitor

The wealth management software firm has made a proposal to acquire another ASX-listed fintech that could value the latter at up to $170 million. Bravura Solutions submitted a non-binding indicative proposal to acquire all shares of GBST Holdings for a $2.50 per share in cash minus a special dividend of 0.35 per share subject to approval. GBST provides administration services to life insurers, stock brokers, wealth management businesses and institutions. Its clients include the big four banks, Baillieu Holst, Bell Porter and Morgans. The $1.1 billion Bravura is more than eight times GBST's market cap. Bravura's offer of $2.50 per share represents a 30% premium to GBST's 30-day volume-weighted average […]
ASX . FinTech . Investing
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Aussie fintech Volt Bank starts by asking consumers what they want
Apr
12

Aussie fintech Volt Bank starts by asking consumers what they want

In January, the Australian Prudential Regulation Authority (APRA) gave fintech startup Volt Bank a licence to operate without restrictions as an authorised deposit-taking institution (ADI). The green light was given to the new player following APRA approval in May 2018 to act in the Australian finance market as a Restricted ADI. The APRA approval gave Volt the title as the first digital startup bank in Australia to receive a banking licence since the early 2000s. Funds up to AU$250,000 deposited into Volt are guaranteed by the Australian government as part of this arrangement. However, as Volt's senior digital marketing manager Kim Kooren told Salesforce World Tour in Sydney, the company […]
Banking . FinTech
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Emily Wilcox: Practifi’s Australian COO disrupting the American fintech space
Apr
12

Emily Wilcox: Practifi’s Australian COO disrupting the American fintech space

Rising through the ranks of the crowded and male-dominated world of finance and technology, financial services firm Practifi’s COO Emily Wilcox recently spoke with Eric Dye on EPN–the Enterprise Podcast Network—about her emerging role within the field, how fintech is developing and what the future holds for CRMs and women in the financial services sector. Speaking from her new-found home in Chicago, Emily started off by detailing her experience with Practifi, and what it was that led her to a career in the fintech space. Having been with Practifi for just over five years, Emily recalled how she was one of the very first employees in the team. Her journey […]
FinTech
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HashChing outlines new funding plans
Apr
12

HashChing outlines new funding plans

The COO of digital mortgage marketplace HashChing has revealed the company is repeating last year’s fundraising exercise after failing to achieve its $5m target. Last May, HashChing attempted to use equity crowdfunding space Equitise to raise $5m in a month and a half. Interested investors could back the fintech for as little as $250. However, according to COO and board advisor Siobhan Hayden, the funding round was not successful. “We believe it was a demographic issue,” she said, explaining that the younger crowds that inhabit online crowdfunding spaces are drawn to more glamorous investing opportunities than those in the mortgage industry. The funds were intended to be used for new […]
Borrowing . FinTech . Investing . Lending . Mortgage
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Bitcoin isn’t a boy’s club, women just aren’t getting involved
Apr
11

Bitcoin isn’t a boy’s club, women just aren’t getting involved

by Chantelle de la Rey, Amber co-founder, product owner and lead designer. A common question I get asked is ‘why is Bitcoin a boys’ club’? And ‘how do you cope with being a female in three male-dominated spaces?’ Well, let me ask you some questions. Why do you think it is a boy’ club? Why haven’t you as a female entered the Bitcoin or digital-currency space? Why haven’t you bought Bitcoin? Please comment below or send me a message via social media telling me your ‘why’. Here are some common responses. ‘I don’t know enough about the space.’ ‘It doesn’t interest me.’ ‘Way too volatile.’ ‘OMG the news says Bitcoin […]

Bitcoin . Currency . FinTech . Investing
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KPMG: Australia’s AltFin sector worth $1B
Apr
11

KPMG: Australia’s AltFin sector worth $1B

KPMG, an advisory and audit company, has released numbers that say Australia has a 32 percent share of the APAC alternative finance market, according to reports. The market has grown 88 percent year over year and it’s worth a total of $1 billion, the company said. This news comes in advance of the fourth edition of the AltFi Australasia Summit, which will take place in Sydney at the Doltone House on April 15. “This is the perfect time for challenger banks to enter the market. Through the use of technology and data we can provide our customers with greater control and transparency, and competitive rates,” said Volt Bank Co-Founder and […]

Borrowing . FinTech . Lending
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