Fintech to launch ‘lite’ money management tool
Moneysoft — a revamped version of a leading PMF tool — will be launched for financial advisers, mortgage brokers and superannuation funds next quarter. Moneysoft Lite has been developed to support advisers who are implementing cashflow management systems by providing client engagement tools. Moneysoft head of operations, Jon Shaw, said that the development of Moneysoft Lite would include new and enhanced functionality available in the flagship cloud-based Moneysoft solution. Set to include an intuitive interface to guide users, automated account balances, bespoke report delivery and share data control, the PMF will customise how clients can benefit from cashflow-based advice. “Moneysoft Lite will help advisers capitalise on the mounting interest in […]
Sydney Stock Exchange’s blockchain system targets venture capital funds, commodities
Two-year-old Sydney Stock Exchange is building a blockchain settlement system to avoid high ASX fees and build a market for venture capital funds to exit their investments and commodities markets. The distributed ledger will initially only be used to settle trades in private companies, but once regulatory approval is gained, it will settle trades in publicly listed stocks. SSX will promote the new settlement system as a low cost alternative to the ASX to try to attract private equity funds to exit their investments by listing on the SSX. Settlement instantaneous Once complete in early 2018, SSX hopes to sell versions of its system – which is being built with […]
Blockchain is here to stay
Blockchain, the technology that underpins Bitcoin, is the talk of the town at the moment. The financial services industry can’t get enough of it. The enthusiasm essentially boils down to the technology’s potential to reduce the financial transaction costs while ensuring robust security. While Bitcoin is unlikely to be make traditional currency extinct, blockchain has provided the impetus needed for new and innovative research into how the slow and often expensive centralised financial transaction systems that dominate banking, so what is this blockchain? Put simply, blockchain is a data structure that can be used to create digital ledgers of transactions shared among a distributed network of participating organisations. Financial institutions […]
Need to Know: Practical Bitcoin basics
Unless you’ve been living under a rock, you’ve probably heard the phrase Bitcoin uttered around tech circles, or maybe even on mainstream news outlets. Maybe you’ve seen Bitcoin as a payment option on stores like Steam and Microsoft’s. But what is Bitcoin, why should you care and is it worth bothering with? As to what Bitcoin is, simply put, it’s way of transferring money around. Some people think it’s a challenge to government reserve banks (probably not) or a whole new system of finance technology akin to the credit card (quite likely), but for us plebs, right now, it’s main utility is cheaply and quickly sending money from A to […]
IPOs getting bigger, but small caps still outperform, OnMarket BookBuilds says
Initial public offerings on the ASX are getting bigger and small cap floats and private equity exits are the best performers, according to data compiled by OnMarket BookBuilds. The fintech company’s managing director Tim Eisenhauer said the past five years have seen a changing of the guard, as the end of the resources boom resulted in the number of mining company floats falling, while more technology companies sought to grow their fledgling businesses through listings. OnMarket BookBuilds’ research takes in the first quarter of 2016, but the trend is already evident in the second quarter, where high-profile listings, including WiseTech Global, Afterpay and Monday’s Redbubble float, are all well over […]
Super funds well-positioned on robo-advice
Thirty-six per cent of people would prefer to get robo-advice and similar services from their superannuation funds, rather than the major banks, according to new research released today. The research, contained in the Investment Trends Direct Client Report has pointed to the high number of Australians choosing to make and activate financial decisions without the help of a financial adviser. However the report points to robo-advice as being a key tool in helping deliver necessary assistance to consumers, and to the positioning of superannuation funds in delivering the answers. In what represents a new area of research for Investment Trends, the company has looked at the appetite of Australian adults […]
Outcomes from the National Fintech Cybersecurity Summit
Last week an assembly of Australia’s who’s who of cyber security came together for a roundtable in Sydney. The event was organised by CSIRO’s Data61 and Stone & Chalk with partners KPMG and the Australia-Israel Chamber of Commerce (AICC). This roundtable, was chaired by Australia’s Chief Scientist Dr Alan Finkel, and the discussion well moderated by Tony Jones from the ABC. In an interview with Computerworld Australia, Alex Scandurra, CEO of Stone & Chalk, shared his reflections on the event and its outcomes. A key theme that emerged time and again in the inaugural National Fintech Cybersecurity Summit was the criticality of collaboration – a point echoed by both key […]
Fintech specialists say ‘NextGen banking’ may replace Big Four
Banks of the future will be technology companies with a banking licence, and traditional finance options may give way to more digitally advanced methods and platforms, say fintech specialists. According to panellists speaking at the Fintech CEOs on the Future of Finance seminar in Sydney on Wednesday night, financial technology firms will soon attract market share and talent away from current banking incumbents, while new digital roles set to replace traditional finance jobs. Speaking at the event Jost Stollmann, CEO of Tyro Payments, predicted that ‘next generation banking’ would eventually take over, with at least one of the big four banks to disappear completely in the next few decades. “Can […]
