Fintech start-up Douugh scores partnership with US mutual bank Choice
Sydney-based fintech start-up Douugh has scored a partnership with US mutual bank Choice Financial, as it readies to launch its smart banking personal assistant, Sophie. As part of the open banking partnership, Douugh will launch an integrated bank account and debit card with the bank, giving it the ability to accept deposits. Choice Financial has also invested in Douugh, as part of a $2.5 million seed round. Founder and chief executive Andy Taylor, who was also a co-founder of successful peer-to-peer lending platform SocietyOne, told The Australian Financial Review he wanted to reduce society’s reliance on credit cards and help people save money. “I’ve always been quite passionate about the […]
Facebook’s Messenger payments looms over Australia’s big banks
Facebook’s challenge to Australia’s big banks is coming as early as next year, when the social media giant is expected to introduce peer-to-peer payments within its Messenger service, hot on the heels of local banks’ expected launch of their own P2P payments network. In July, The Australian Financial Review revealed Facebook had been awarded a patent to allow it to launch Messenger payments in Australia, which will allow users to pay family, friends and groups once they have linked up a bank-issued debit card to their social media account. More than 13 million people use Facebook Messenger in Australia each month, a figure that will have local banks – who […]
Blockchain will change finance forever
Blockchain is the technology behind the phenomenon that is bitcoin – and it may end up changing how the finance industry operates forever. From payment processing that bypasses the banking system to cryptocurrencies launched by central banks, its impact could be significant. However, this technological disruption is unlikely to happen overnight, as regulators will want to keep tight reins on the global financial system – but what could we have in store? A blockchain enables any type of encrypted data – from electronic money to medical records – to be shared between members of a closed network. A blockchain enables any type of encrypted data – from electronic money to […]
Equity crowd-funding’s Australian launch opens doors to small investors
YOU no longer need to be wealthy to buy into innovative business start-ups, thanks to a new type of investing set to launch early in 2018. Investors seeking to own a slice of start-up small businesses will soon be able to dive in. Equity crowdfunding – which will turn everyday Aussies into venture capitalists and angel investors – has been given the green light by the Federal Government and is likely to start matching investors and businesses early next year. Equity crowdfunding started globally in 2011 and start-up businesses have raised more than $3 billion using its platforms in countries including the US, Britain and New Zealand. Australian group OnMarket […]
Looking to Hire in Fintech? Australian FinTech Jobs is the answer
Since launching just over 10 weeks ago, Australian FinTech Jobs, the only dedicated Fintech employment platform in Australia, is already achieving the goals it was designed for. “Our intention for Australian FinTech Jobs is for quality, not quantity. The other large behemoth job sites can and will provide the quantity, but as we’re proving, we’re providing the right candidates,” CEO Cameron Dart announced. “Across the board, the feedback we’re getting is certainly encouraging – the number of applications are lower than our massive competitors, but the candidates are of a higher calibre. And in many cases, the hired jobseeker has come from our platform,” Dart continued. AustraliaFinTech.com.au, the No.1 website […]
On this trajectory it won’t be long before one Bitcoin is worth $1 million a pop
By Fred Schebesta, Co-Founder & CEO of finder.com.au Eight years ago, if I told you you’d be a millionaire today if you invested in Bitcoin, would you buy it? Back then, Bitcoin was one of the first cryptocurrencies to hit the market and had a price tag of $0.08 ($US0.06) per coin, as recorded in 2010. This month, it hit a record of $10,417 per coin. You would have only needed to buy 95 coins at a total cost of $7.68 to be worth $1 million today. Based on this trajectory, it won’t be long (perhaps a few years) before one Bitcoin will be worth $1 million a pop. It’s […]
Longstanding chair to farewell fintech
The founding chair of an ASX-listed fintech is stepping down after a decade in the role. OneVue chair Gail Pemberton will step down as chairperson following the company’s annual general meeting next week, to be replaced by former Diversa chair Ron Dewhurst. On her decision to leave the role she’s held since 2007, Pemberton said: “Having been with OneVue from the beginning, and through its ASX listing, consistent with the ASX’s principles of good governance, with great confidence I now hand the baton to Ron Dewhurst.” Dewhurst joined OneVue in October 2016 as part of a board refresh that also saw two other new directors welcomed. “Ron and the other […]
The fintech transforming the cash investment sector for advisers
While investing cash as part of a client’s defensive investment portfolio is a necessity, many advisory businesses find the current lack of choice to be challenging. Traditionally the time taken to action cash investing, incremental costs together with laborious paperwork outweighed the effort by the adviser and the ability to enhance returns for the client. Cashwerkz, a leading edge Fintech company has developed a platform for advisers who wish to maximise earnings on defensive cash allocations, whilst simplifying the administration time to establish, transact and manage term deposits. Cashwerkz Relationship Manager, Lisa Gregory, explains “The combination of low interest rates and an increased administrative burden have made it far more […]
