Wary banks to enter fintech waters
While larger financial institutions have traditionally stayed out of the fintech space, this could soon change, according to some of Australia’s leading experts. “To date I’ve actually taken the view that I don’t think the banks have really played much in this space because it’s disruptive and it’s easier for them to not necessarily add fuel to the fire or to accelerate that disruption,” said Anthony Millet, CEO of BRICKX, in a panel discussion at the Millennial 20/20 conference in Sydney (14 November). This is now changing with new legislation being introduced in Australia that makes it easier for start-ups to enter the market, he said. “I think we’re going […]
10 Australian Fintech companies in the 2017 Fintech100
The Fintech100 represents the most innovative companies, creating products and services at the juncture of technology and financial services who are seeking to disrupt the existing processes and products that dominate the marketplace, with fintech companies from 29 countries featuring in this year’s 100. Congratulations to the Australian Fintech companies who made the H2 Ventures KPMG 2017 Fintech100 Top 50: 24. Prospa 37. zipMoney 44. AfterPay Touch And congratulations to the following Australian Fintech companies who made the Fintech100 Emerging 50: Airwallex Cover Genius Hyper Anna Macrovue MoneyMe Tic:Toc Valiant
Spaceship super’s secret talks with APRA, a $50 million capital raise and Julia Gillard buys in
Millennial super fund Spaceship has been in secret talks with banking regulator for its own licence. Investors have backed the licensing application with a $50 million capital raising round. One new investor, a US venture capital firm, has former Australian prime minister Julia Gillard on the board. Millennial online superannuation fund Spaceship has completed a $50 million capital raising round, while waiting for a rare Australian Prudential Regulation Authority (APRA) licence. Spaceship and other startup pension funds, like Grow Super, Zuper and Mobi Super, typically pay to use the licence of a traditional company to operate. Spaceship itself changed its parent licence holder over the winter, switching from Grosvenor Pirrie […]
BRICKX receives investment from Reinventure
Fractional property investment firm BRICKX has secured investment from the Westpac-backed venture capital firm Reinventure, in its Series A funding round. The Fintech, that provides access to residential property by enabling Australians to buy “Bricks” in individual property trusts, is not only tackling housing market accessibility but proving to be popular with those saving for a home deposit. BRICKX CEO Anthony Millet is proud to have formed this strategic partnership with Reinventure. “We look forward to working with Reinventure, who are wholeheartedly aligned with the BRICKX vision in providing a product which addresses the growing problem of housing affordability and investment accessibility,” Mr Millet said. “Over […]
ANZ and CUA among first to offer eftpos on Android Pay
ANZ and Cuscal-sponsored credit unions including CUA today announced their eftpos cardholders can now make payments using Android Pay. The nine institutions, including People’s Choice Credit Union, Sydney Credit Union, Woolworths Employee’s Credit Union, Nexus Mutual and FCCS, are the first in Australia to officially offer this payment method to eftpos cardholders, enabling almost two million people to pay using their Android mobile devices. This follows the announcement Commonwealth Bank, Westpac and NAB are collaborating to launch a mobile payments platform, Beem, to make instant contactless payments with eftpos cards. Canstar’s Group Manager of Research and Ratings Mitch Watson said the new offering meant ANZ customers would have access to […]
From football to finance: Why Ted Richards wants to make investing easier
With 261 first-grade AFL games under his belt, former Sydney Swans defender Ted Richards isn’t your average financial guru – but he’s willing to bet that footy is a lot closer to money management than you think. After retiring from professional football at the end of 2016, Richards moved onto his second love of finance, becoming the Director of Business Development at Robo-advice startup Six Park. It sounds like the high-pressure world of being an Aussie rules superstar is the perfect antonym for the often-stuffy industry of finance management, but Richards says in many ways the two are the same. “Finance is a lot like footy in that while the […]
Myprosperity partners with $6.2bn platform
Myprosperity has partnered with an ASX-listed investment and superannuation platform provider to give clients whole-of-wealth solutions. Clients can now access HUB24 assets via myprosperity. HUB24 director of strategic development Jason Entwistle said by opening up the HUB24 platform and sharing data, it provides advisers and accountants the freedom to choose the technology solutions that provide the best experience for them and their clients. Former Xero Australia managing director and Myprosperity chief executive, Chris Ridd, said centralising clients’ wealth in one place creates massive opportunities for advisers. “By minimising time spent on administrative tasks, and providing their clients a bespoke wealth portal powered by live data feeds, advisers can grow their […]
Peppermint tech trials a winner with Filipinos
Real-time testing of Peppermint Innovation’s mobile-phone bill payment technology is delivering significant customer insights that will assist the ASX-listed fin-tech company to fully commercialise its unique APP. During the past few months, almost 500 representative agents of Filipino businesses MyWeps, Metro Gas and SUNMar Express have been conducting ‘live’ pilot programs with their customers to help improve Peppermint’s mobile platform.At present, 70 per cent of Filipinos do not operate a bank account and millions of Filipinos receive their weekly wage in cash. They are forced to physically pay their bills in cash, causing them to travel great distances across town to ensure all of their household bills are paid. Peppermint’s […]
