Why international money transfers should be your next savvy business move
Switching to a specialist international money transfer (IMT) provider can be a simple way to save your business heaps of cash.
New breed of savvy Australians embrace digital and choice in pursuit of home ownership
The Lendi Home Loan Index Q3 2018 (LHLI) unveils key trends among Australians searching for a home loan online*. The LHLI suggests that more consumers are taking financial matters in their own hands by embracing a digital-first approach in lieu of the traditional bank or broker model. While the wider home loan industry is dominated by the big fours, the LHLI shows that Australians using Lendi are brand agnostic. In fact, 82.9 per cent of Australians don’t have a preference for settling their loan with a major lender. The LHLI data also signifies Australians’ positive intentions when it comes to their own debt management. An overwhelming 85.5 per cent […]
Gen Z using tech to become finance savvy
Young people are using money in ways unheard of a generation before. They have never known a card that doesn’t tap and go, or a phone that can’t control every aspect of their financial lives. While many pass off Gen Z as just an extension of the “smashed avocado” generation, some commentators say they have a very different mindset to Gen Y and are more savvy about how they spend and invest money. Dale Gillham, executive director and founder at Wealth Within, a financial services and education company, says: “A few years ago nobody under 30 would talk to us to much,” he says. “Now we’re finding that under 25s […]
Perth Mint’s GoldPass app for tech-savvy Gen Y traders
Perth Mint boss Richard Hayes hopes the State-owned entity can attract tech-savvy millennials with its new gold trading smartphone app. GoldPass is a secure investment platform that allows people to buy, store and sell gold and transfer the precious metal to others via digital certificates with real time settlement. The digital certificates are backed by physical gold stored at the Perth Mint and its network of central bank-grade vaults. There are no storage fees but the mint makes money via brokerage fees ranging from 0.2 and one per cent depending on the size of the transaction. Mr Hayes said the mint already had a solid customer base, generally made up […]
Vinomofo Co-Founder and CEO Justin Dry says robo-advisors like Clover.com.au just make sense for digital savvy millennials
Online wine retailer Vinomofo Co-Founder and CEO Justin Dry says the best advice he would give young Australians on investing is to start. The tech entrepreneur, who grew Vinomofo from the confines of his garage in Adelaide, to a multi-million dollar company with expansions in New Zealand, Singapore, and plans for a launch in the United States, encourages the digital savvy generation to embrace the money management solutions coming out of the growing Australian market for financial technology. Being a proponent of tech that is ‘simple and easy to understand and use,’ Dry himself went to automatic investing platforms to manage some of his savings. “I’ve been waiting for something […]
Banking gap widens as tech-savvy consumers look to new products
They’re called peer-to-peer lenders or fintech companies and they’re shaking up the world of consumer loans and bank deposits. Here’s why. The gap between what people pay for consumer loans and what they get from bank deposits is widening, prompting them to look to new financial technologies for better interest rates. Peer-to-peer lender RateSetter has examined big bank profit margins and found that while they are paying record low rates on deposits their lending rates for personal loans and credit cards continue to climb. “You can drive a bus through the spread between bank deposits and consumer lending rates,” said RateSetter CEO Dan Foggo. “Publicity stunts such as dropping fees […]
Fintech startup Pennybox is on a mission to turn kids into smart savers, savvy investors
Sydney fintech startup Pennybox is seeking to transform Australia’s $1.5 billion pocket money market with a new app that teaches kids financial literacy while helping them earn money for completing household tasks. Pennybox was founded by former equity analyst Reji Eapen and ex-Googler Adam Naor, who developed their app with the assistance of a $25,000 Minimum Viable Product Grant from the state government’s job creation agency Jobs for NSW. Naor spoke to Dynamic Business about his startup, including the experience of operating out of the Tyro FinTech Hub in Sydney’s CBD. Elevator Pitch: Pennybox is a free mobile app that draws parents and their kids together for financial education. It’s an […]
