Xinja to launch second equity crowdfunding
Xinja, which is building a 100% digital bank or ‘neobank’ designed for mobile, is inviting potential investors to register their interest in its second equity crowdfunding, which will get underway early in 2019. The offer, through Equitise (with whom they partnered for the first round), is targeting a raise between $500,000 and $5 million. Shares will be priced at $2.04. Xinja is an independent, Australian-owned start-up that aims to give bricks and mortar, old-style banking a serious shakeout. It won’t have bank branches and it has been built with feedback from customers about how they want to bank. Xinja launched Australia’s first equity crowdfunding, which closed in March this year, […]
Nod closes $2m funding round to support platform growth
The multi-award-winning artificial intelligence platform, known simply as Nod, has confirmed it has successfully closed its over-subscribed pre-Series A round of AUD$2m. Nod was recently awarded a coveted spot on the KPMG H2 Ventures Fintech100 and has developed a patent pending algorithm that utilises artificial intelligence to create real-time Statements of Advice for Financial Advisers and Accountants. Whilst this is the space where they have chosen to first apply their technology, Co-Founder and CEO, Joel Robbie, says the platform has been developed to be industry agnostic: “We are really excited about the impact we are having on document completion times in the Financial Advice industry! The platform is having genuine […]
Practifi’s US expansion exceeds expectations
Sydney, Australia-based fintech provider, Practifi, has continued to experience exceptional growth over the 2018 calendar year, with their international expansion to the U.S. surpassing expectations on every measure. In describing the international response to Practifi, Chief Commercial Officer and Co-founder, Adrian Johnstone says, “Our upfront investment in market research and product design has paid huge dividends this year. Our Chicago office is now established, with the team growing rapidly to meet demand far in excess of our ambitious forecasts.” With clients spanning the major west coast, midwest and east coast financial centers, Practifi is already considering the location for its next US office. Global growth in other markets is also […]
Priviti is a finalist in Westpac’s Innovation Challenge as Australia prepares for data privacy legislation
Selected as one of five finalists, Priviti’s patented consent management solution gives users greater control over how their data is shared and mitigates companies’ compliance and reputational risk amid growing data privacy concerns. Australian bank Westpac has announced that Priviti is one of five finalists for its 2018 Innovation Challenge, an initiative that gives startups the opportunity to pitch their ideas to help businesses meet their regulatory obligations and drive game-changing enhancements to customer experience. As Australia prepares for Open Banking standards and the Consumer Data Right, this year’s Challenge features RegTech solutions addressing topical issues including responding to regulatory change, ensuring customer privacy and consent, and product management. The […]
Fiserv open banking survey shows emergence of strategic focus
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced the results of a survey revealing insights into the implementation of open banking initiatives by banks in the U.K., Poland, France and Australia. To date, banks have primarily focused on compliance, with only 42 percent of respondents (and just 24 percent in Australia) saying their strategy for open banking goes beyond day one. However, some banks are beginning to leverage open banking for strategic initiatives such as improving customer service. Banks are united in the belief that open banking will have an impact on financial activities, with 67 percent expecting at least a moderate impact, […]
Woolworths Employees’ Credit Union extends partnership with Ultradata for an enhanced core banking solution
Woolworths Employees’ Credit Union Limited (WECU), an Australian mutual finance institution, has extended its partnership with Ultradata Australia Pty Ltd, a leading banking solutions supplier, after determining that Ultradata offered the most complete and fully integrated solution to meet their requirements. The decision was reached following a comprehensive review of global core banking solutions and was in-part based on the forthcoming version release of the Ultradata world-class Ultracs solution. Ultracs version 5.1 will provide the most complete core banking solution to support seamless omni-channel banking in the marketplace today. It will introduce even more functionality to the Ultracs system with new features for card management, PCI-DSS compliance and best-practice banking. […]
Australian-founded fintech firm Ignition Advice finalists in the 2018 Banking Technology Awards
The Banking Technology Awards have announced the finalists for 2018, including Ignition Advice as a finalist in the category Best Use of IT in Private Banking / Wealth Management. The Awards recognise excellence and innovation in the use of IT in financial services worldwide, and the people who make it happen. “This is an exciting time for Ignition as our international business is developing and our reputation is growing at a rapid rate. To be a finalist in a respected and highly competitive global event such as the Banking Technology Awards recognises Ignition as a rising global player in the fintech space.”- Manish Prasad, Group CEO, Ignition Advice. Ignition is […]
Peppermint to offer micro-enterprise program for Bizmoto agent network
Peppermint Innovation Ltd (ASX: PIL) announced it is launching a micro-enterprise program that will significantly benefit its growing Bizmoto agent network. Under a pilot program to be rolled out across the Philippines, Peppermint will facilitate and offer Bizmoto agents a finance and insurance package that helps them to buy a suitable motorcycle to be supplied by TVS Global Automobile Traders FZCO (“TVS”) via a locally registered wholesale dealer in the Philippines. Agents will be able to use their motorcycle to visit more customers in a timely manner, thereby increasing the number of transactions they are able to facilitate using Bizmoto’s technology platform, powered by Peppermint. The range of services available […]
