Capgemini backs Startupbootcamp Australia fintech programme
Capgemini has joined forces with Startupbootcamp (SBC) Australia as the first corporate partner for SBC’s upcoming FinTech Accelerator Program in collaboration with the Victorian Government and YBF Ventures. The program, focused on Open Banking and Customer Experience, will bring leading edge and innovative technologies for the Banking, Insurance and Superannuation sectors to Australia from around the world. “With the fast-evolving financial services landscape fuelled by dynamically changing customer expectations, disruptive technologies and tightening regulatory compliance, it is time for the financial services industry in Australia to leverage an ecosystem-led innovation. Our association with Startupbootcamp Australia will provide access to a global ecosystem of startups and with the leverage of our […]
Apple is becoming a formidable financial technology company
A growing anxiety for bank executives is how and when big tech companies will encroach on their turf. During its quarterly earnings call yesterday, Apple CEO Tim Cook gave some insight into the company’s progress in becoming something of a fintech player: Apple Pay transactions tripled from a year earlier, to more than 1 billion. Cook said that was more than Square and exceeded mobile transactions via PayPal. The worry for finance executives is that payments are just the beginning. Alibaba affiliate and fintech giant Ant Financial expanded from payments and into wealth management. According to analysts at research firm Bernstein, the Chinese company now runs a robo-advisory service that […]
Morrison to fintechs: ‘Don’t stuff it up’
Treasurer Scott Morrison has told leaders of the fintech industry he’s counting on them “not to stuff up” the implementation of open banking because he wants the government’s new consumer data right to be a driver of competition and productivity gains across the economy. With the major banks lifting technology investment to fend off disruptive threats, Mr Morrison said he’s relying on start-ups to use his open banking and comprehensive credit reporting policies to increase pressure on the incumbents. “You are all in the business of financial technology disruption. I am in the business of policy disruption,” Mr Morrison said at Ashurst on Wednesday night. “I am frankly counting on […]
A dive into the US mortgage market could be a Credible move for this ASX fintech
Its latest earnings may have fallen short, but student loan comparison site Credible Labs still has fans as it pushes hard to ramp up its new mortgage loan business. Credible (ASX:CRD) — founded in San Francisco five years ago by Australian investment banker Stephen Dash — hit the ASX late last year, issuing shares at $1.21. Of the $50 million raised through its IPO, $15 million was taken out by the company’s original backers. The bulk of the money, some $31 million, was earmarked to spend developing its platform which targets US consumers. Even though its existing business is centred on student loan refinancing, investors are much more interested in […]
Why this female founder is bringing Australian entrepreneurs to the Big Apple
There are few globally-renowned hubs of culture and commerce around the world that can lay claim to the same thriving entrepreneurial spirit as that of New York City. And now, a growing number of businesses in Sydney, Australia are turning their attention to the Big Apple as a first port of call for global expansion. Based in Sydney, founder and CEO of FD Global Connections, Trena Blair is an expert in expanding businesses from Australia into the U.S., with New York as the entry point. Since establishing FD Global Connections in 2014, Blair has brought with her some of Sydney’s best and brightest entrepreneurs and businesses to New York across […]
Apple Pay predicted to be half of all mobile wallet users as contactless payments hit $2 trillion by 2020
Digital wallets are gaining momentum and Apple Pay looks set to be the most popular platform as contactless payments are projected to hit $2 trillion within two years. As spotted by TechCrunch, Juniper Research put out a new report today with the prediction that Apple Pay will account for 50% of global mobile wallet users by 2020. The data took into account competition from Samsung Pay, Google Pay, Huawei Pay, and Fitbit Pay. The firm believes 2020 will see 450 million users taking advantage of mobile wallets with Apple making up for 225 million of those users. Specifically, Juniper predicts mobile wallets will make up for 15% of the $2 […]
‘Walk rather than a run to cashlessness’ in Australia, says payments boss
Large-scale technology shifts like the introduction of the Reserve Bank’s New Payments Platform and the rise of tap-and-go are hastening the retreat of cash as a transaction mechanism. But don’t expect to see the RBA pushing the stop button on its dollar bill production just yet, said the chief executive of the Australian Payments Network, Leila Fourie. “Cash is traditionally used as a store of value and for transacting. As a store of value the use of cash is on the increase, as a transaction mechanism it is retreating and reducing,” she told a panel session at The Australian Financial Review Innovation Summit 2018 on Monday. “However, I don’t think […]
New TV show set to open Blockchain to the world
A new weekly business TV show is set to showcase Blockchain companies, cryptoassets and ICOs to a global audience. Coincast TV, created by ICO advisor DigitalX and respected crypto business news platform Multiplier Crypto, will be broadcast on Sky News Business, and syndicated across Apple TV, the Wall St Journal and related social platforms, reaching an audience of almost 200 million viewers worldwide. The program will profile Blockchain companies, provide in-depth market analysis and the latest Blockchain news with a focus on business journalism to educate people and grow the market. “Coincast TV will be a half-hour, weekly Blockchain news program, featuring sponsored news content from Blockchain and cryptocurrency businesses […]
