Moneycatcha uses blockchain to streamline mortgage applications
MoneyCatcha is using blockchain technology to make home loan applications quicker and cheaper. One of the most time consuming and costly processes banks go through is signing customers up to a mortgage. The full loan application process can take weeks and has a significant cost. Data is often captured and manually re-entered several times resulting in potential errors and a further waste of resources. As a highly competitive part of retail banking, and perhaps its most profitable activity, being able to differentiate from other banks is critical. Also, with increased scrutiny on loan documents as we’ve seen through the Royal Commission on banking, the need to be able prove the […]
How the Victorian Government is working to position the state as a global Fintech hub
As Fintech innovations continue to disrupt the financial industry, the state government of Victoria in Australia has been working pro-actively to foster a thriving Fintech ecosystem. It is seeking to ensure that Melbourne’s fintech sector reaches its full potential and continues to create jobs, businesses, technologies and exports. Last week, the Victorian Government led a delegation of Fintech companies to Singapore for Money 2020 Asia. During a Corporate Access day prior to the event, OpenGov spoke to Amelia Fyfield, Deputy Commissioner, Southeast Asia, at Trade and Investment Victoria and Alex Veale, Trade Specialist- Professional Services, Trade Victoria, under the Department of Economic Development, Jobs, Transport and Resources (DEDJTR), to learn […]
Growth, diversification, consolidation: AltFi Summit 2018 leaders offer their predictions
Fintech leaders from across the globe are converging for the AltFi Australasia Summit in April, to discuss the most urgent issues and trends impacting growth, diversification, and consolidation in the global alternative finance industry in 2018. Keynotes, panellists and sponsors will include alternative lending firms, digital banks, industry influencers and regulatory representatives, such as OnDeck, KPMG, Ratesetter, NowFinance, Equifax, Macquarie Capital, NAB, Moula, MoneyPlace, Credible, BGA Digital, Moneycatcha, Creditease, Othera, Liberty Home Loans, uno Home Loans, and FinTech Australia. It will be the third year the Summit has run in Sydney, amassing each yeah an ever-larger following of loyal attendees. Event owner, Glenn Hodgeman, believes momentum has built so strongly […]
How crypto currently looks in Australia
Australian crypto investors are like any others: long-term investors, short-term traders, and true believers who want currency beyond control of central banks. WHY ARE AUSTRALIANS BUYING CRYPTOCURRENCIES? Some are long-term investors, others are short-term traders, and some are true believers who want currency to be beyond the control of governments and central banks. All are hoping the value of Bitcoin (or their chosen asset) will appreciate over time as they become more readily accepted. WHY DO AUSTRALIANS NEED USE AUSTRALIAN EXCHANGES? Most people buy their first Bitcoin, Ethereum or other cryptocurrency using their day-to-day currency. If you hold Australian dollars and want to buy your first cryptocurrency, you need to […]
BDO implements Expensify internally to improve its receipt and expense management Process
After implementing Expensify for BDO clients as an ExpensifyApproved! Partner, the top 10 Australian accounting firm now adopts Expensify for its employees. Expensify, the most widely used expense software in the world, has been selected by BDO Australia to streamline its internal receipt tracking and expense management workflow. BDO moved away from two separate receipt tracking and expense approval systems, Receipt Bank and ApprovalMax, to centralise their entire process with Expensify. Company-wide rollout began earlier this month in BDO’s Adelaide office with 110 employees, and plans are under way to expand to BDO offices throughout the country. “As a partner in the ExpensifyApproved! Program, we’ve set up enough clients on […]
Digital mortgages offer great promise, says KPMG’s Pollari
There’s a tech for everything these days: MedTech, EdTech, FoodTech – you name it. Which may make fintech sound like just another portmanteau. But what makes fintech different from the other “-techs” – besides the fact it deals in money – is just how varied it is. According to a map put out by KPMG, there are more than 11 different types of fintech companies. These include: regtech, for regulation; insurtech, for insurance; wealthtech, for asset management – and many more. This wide definition – as well as a lot of optimism and entrepreneurial energy – has meant there are now around 600 Aussie companies that fall within the fintech […]
The Global Money Transfer Industry: A Case For Collaboration
Evolving with disruption The money transfer industry globally has entered a period of significant change, spearheaded by the evolution of mobile technology and growing demand for digital tools that help us manage our money faster and smarter. Digital disruptors such as peer-to-peer lending services, mobile apps and blockchain have shifted the market, offering borderless accounts combined with speed and transparency. Powering these disruptors are new technologies like artificial intelligence, big data and robotics, which are changing the customer experience; providing unprecedented insights into customer behaviour that help deliver a more seamless money transfer experience. For incumbent players in the market, this new reality presents an opportunity. Businesses should consider leveraging […]
8 out of 10 Aussie Bitcoin traders are men
Eight out of 10 people trading cryptocurrencies in Australia are men, according to joint research by the Australian Digital Commerce Association and Accenture. Eighty-three per cent of the 312,633 customers registered across seven Australian exchanges at the end of 2017 were male, according to joint research by the Australian Digital Commerce Association and Accenture. The exchanges processed more than 2.7 million transactions in 2017 worth a total $A3.9 billion, at an average of $A1,430 per trade. Source: 8 out of 10 Aussie Bitcoin traders are men – SBS News
