Robo-advice finds market in digital-savvy older investors
Hey robo-advisers … You’re looking the wrong way! Millennials have no spare money and don’t care about investing just yet — but older Australian investors are more than ready to play. One survey after another in the US shows older investors are actually super keen to examine low-cost digital-based financial services. And closer to home, it’s worth pointing out that a recent survey from the SMSF Association revealed a higher portion of Australia’s one million SMSF operators were willing to try robo-advice than the general public. No doubt this emerging reality has not been lost on the kingpins of Australian finance — the banks. Earlier this week, NAB funds management […]
Global startup crowdfunding platform OurCrowd expands to India, Australia
OurCrowd, an equity crowdfunding platform that allows investors to invest in private companies, announced that it was expanding into some of the world’s largest markets this week. The company formally announced the launch of strategic partnerships with Reliance Private Client, a major wealth management firm based in India, and the National Australia Bank. The partnerships allow clients of both firms to access venture capital funding from investors on the OurCrowd platform from around the world. OurCrowd’s goal with the expansions is to diversify the asset classes available to global investors, said CEO Jon Medved in a press release. Medved noted in the release that India alone saw its number of […]
What’s holding up the blockchain?
It’s not technology or regulation holding back the blockchain – software that stores and transfers value or data across the internet – we just haven’t figured out the next big use-case. Two reports released this week by the CSIRO’s Data61 not only inject some well-researched gravitas into the conversation, they also provide insight into why some of the major blockchain projects have stalled. Since 2015, banks, regulators, tech giants and startups all over the world have raised billions of dollars to explore the blockchain. But the only really successful, scaleable use of the blockchain remains cryptocurrencies like Bitcoin. Bitcoins currently trade at almost AU$4,000, with a total market equivalent to […]
Open banking start-up Basiq snares funding from Westpac and NAB
The venture capital funds of Westpac Banking Corp and National Australia Bank have co-invested in Basiq, a start-up that scrapes financial data from bank webpages to help fintechs compete with incumbent banks. Taking advantages of the government’s moves to create an economy where data moves more openly, it plans to morph into a new banking platform that uses “application programming interfaces” (APIs, or software connecting computers) to improve customer experience of financial services. The seed investment by Reinventure Group, Westpac’s venture capital fund, and NAB Ventures comes after Treasurer Scott Morrison said in last month’s budget an “open banking” regime would be created, liberating customer banking data. The Productivity Commission, […]
Instant payment possible for grain growers
Any delays between delivering grain and being paid for it could become a thing of the past, but Australia will need to develop a digital currency to make this happen. That’s according to AgriDigital co-founder Bob Mckay. His company successfully completed a world-first last year by executing the settlement of an agricultural commodity on a blockchain, a public ledger of digital currency transactions. In December last year AgriDigital’s software used real-time data of a grain sale between a Dubbo grain grower who delivered wheat to meat processor Fletcher International, and executed this transaction on a blockchain. AgriDigital has computer software that connects buyers, growers and storage providers. Mr McKay, who […]
AEVI and Moroku partner to mobilize small merchants
AEVI and Moroku today announced a partnership to distribute Moroku’s all-in-one small merchant POS software Marrakash on AEVI’s Global Marketplace; a B2B app store for smart Point of Sale (SmartPOS) devices. Marrakash is designed with the next generation of banks in mind, delivering a single solution for small merchants that seamlessly integrates their business, products, customers and payment systems into one easy-to-use platform. The partnership will leverage AEVI’s open solutions, payments and global support infrastructure to target multiple vertical markets including the hospitality, food and drink, health and wellness, retail and financial service industries. Based in Sydney, Australia, Moroku is a pioneering Fintech firm that provides the finance industry with […]
DigitalX secures new funding
DigitalX Ltd (Company or DCC) is pleased to announce that it has entered into a conditional subscription agreement and converting loan agreement with Blockchain Global Limited, an Australian incorporated company operating in the Bitcoin and Blockchain space internationally, to invest approximately $4.35m at 2.7 cents per share to acquire an interest in approximately 40% of DigitalX on a fully diluted basis. The price of the investment represents a 28.5% premium to the VWAP of DigitalX’s shares over the last 5 days in which shares were traded prior to the date of this announcement. The investment is conditional upon the satisfaction of specific conditions precedent, which are outlined below. Under […]
Bitcoin and Ethereum are hitting record highs
Bitcoin just surged to a new record above $US2,800. It tops the previous high of $US2,799, with the cryptocurrency reaching a peak earlier today of $US2,854.40. A short time ago, Bitcoin was trading at $US2,800.20, a gain of just over 4%. The latest surge shows that speculation in the market shows no signs of abating, after prices for Bitcoin dipped back below $US2,000 at the end of May. Prices for the world’s second largest cryptocurrency ethereum have also ripped higher, a short time ago up more than 5% to $US256.16. To read more, please click on the link below… Source: Bitcoin and Ethereum are hitting record highs | Business […]
