Fintech is not a threat: FPA
Financial planners overlooking fintech are missing out on benefits that can ultimately lead to higher client engagement and satisfaction levels, latest research from the Financial Planning Association of Australia shows. Released at the 2017 FPA Professionals Congress in Hobart this morning, the whitepaper maps fintech to the financial planning process and highlights that increased revenue, operational efficiencies and reduced client costs as some of the advantages advisers and planners can gain if they embrace fintech solutions. It maps out the financial planning process in six key steps and pinpoints where new technology can best add value in the process, particularly in the areas of compliance and regulatory requirements. According to […]
A ‘no commission’ share-trading app from Melbourne just raised $7.3 million and listed on the ASX
Melbourne fintech SelfWealth has floated on the Australian Securities Exchange, raising $7.34 million through an initial public offering. Based on the $0.20 IPO price, the company has a market capitalisation of $26 million. SelfWealth operates a share-trading platform that allows users to buy and sell any volume of shares for a flat fee of $9.50 per transaction. No monthly fees are charged, although an optional $20 “premium” tier is available for deeper market analysis and access to a “social investment network”. The company did not disclose current customer numbers, but founder and managing director Andrew Ward in last year revealed the platform had 3,000 self-managed superannuation fund clients plus 2,500 […]
Moneysoft expands team with eight new appointments
Moneysoft has appointed eight new staff in response to growing demand for its suite of personal financial management solutions. This expansion boosts Moneysoft’s frontline account management and client service teams including increased support capability. It follows strong uptake of the company’s core cashflow as a service software and the recent launch of its Round-ups solution. The new appointments are in account management, product development and support, as well as new hires in the sales team. Moneysoft’s Australian team now numbers 18 full time staff. In addition, Moneysoft has increased its offshore capability with nine additional staff in Europe dedicated to mobile application design, development and testing. “Moneysoft has grown rapidly […]
Fintech start-up InstaReM names Aussie cricketer Matthew Wade as brand ambassador
InstaReM, which offers international money transfers to individuals and businesses, has signed on Australian wicketkeeper Matthew Wade as the sports face of the brand. InstaReM lists Australia as its founding market, having begun life here in 2014. Since the company’s modest start in Australia, InstaReM has since successfully spread its wings to other corridors by obtaining the regulatory licenses in Singapore, Hong Kong, Canada, Europe and India. The international wicketkeeper has represented Australia in all forms of cricket, and has proven to be a resilient sportsman, having overcome cancer at the age of 16. As a part of the agreement, Wade will be placing the InstaReM logo at the back […]
DomaCom partners with Moody’s Analytics
Fractional property investment company DomaCom has struck a deal to gain access to the CoreLogic – Moody’s Analytics Australian Forecast Home Value Index. The partnership will allow DomaCom to create “highly targeted, research-backed residential property investment strategies for independent financial advisers and direct investors”, DomaCom said in a statement. DomaCom intends to use the 10-year CoreLogic – Moody’s Analytics Australian Forecast Home Value Index to create residential crowdfunding campaigns for each Australian capital. “While independent financial advisers are typically at the core of most client’s investment decisions they have not previously been able to offer clients a comprehensive property investment solution, effectively excluding the world’s largest asset class from the […]
Startup Muster report outlines Australia’s fintech strength
Fintech has strengthened its position as Australia’s most popular startup sector among company founders, according to a major survey released today. The Startup Muster 2017 report is based on responses from 2,214 people to an August 2017 survey, including 1,184 people who identified themselves as a startup founder. The report finds that 19.7% of startup founders nominated fintech as their industry, up from 15.9% in 2016. Overall, fintech remains the number one startup sector for founders in Australia for the second year in a row. The report also lists fintech as one of the top five industries targeted by startup supporters such as mentors, professional services firms and coworking spaces, while […]
Loan fintech launches recruitment drive
Digital mortgage service uno has embarked on a new recruitment drive to expand the firm’s staff by 50% over the coming six months. This initiative has been the result of recent insights gained from consumers – learnings which have grown the business rapidly over the past few months, uno founder and chief executive officer Vincent Turner told Australian Broker. “As a result, we’re ready to take this up a notch,” he said. uno is now recruiting across three separate roles within the company: consultants, home loan advisors and support. “A lot of what people are joining uno for is we have a massive focus on the training and mentoring approaches […]
Collaboration with industry and regulators key to enhancing RegTech innovation
Industry delegates gathered at a high-level event in Singapore on the 16th of November, calling for financial institutions and regulators to work more collaboratively with start-ups to enhance RegTech innovation across the region. Hosted by Deloitte, Austrade and The RegTech Association, the event was held as part of Singapore’s inaugural FinTech Festival, and was attended by the Australian High Commissioner, the Hon. Bruce Gosper. At the event, industry influencers, government officials, tech start-ups and entrepreneurs came together to discuss strategies for driving cross-industry and cross-border collaboration, and opportunities to safeguard against financial crime with RegTech solutions. Julian Fenwick, Chair of The RegTech Association and Managing Director of GRC Solutions, a […]
