‘Secret millions’ of a cryptocurrency trader
An unknown cryptocurrency trader turned $55 million of paper wealth into $283 million in just over a month. The only clue about this person or persons, beyond a virtual wallet with the identification code 0x00A651D43B6e209F5Ada45A35F92EFC0De3A5184, surfaced on a June 11 Instagram posting, in Indonesian, in which he or she (or they) (or somebody posing as them) boasted about the 413 percent profit accumulated earlier this year from ether, the digital money of the Ethereum blockchain. “I get many private messages asking how much ether I have,” the post read, alongside photos that purported to be the hardware powering a mining operation but looked lifted from another website. “One of the […]
Sydney fintech HashChing just digitised conveyancing
Online mortgage marketplace HashChing has announced a new partnership for digital conveyancing. The Sydney fintech is now offering the services of electronic conveyancing marketplace Titlexchange, with the pilot limited to Victoria for now before a general rollout later. HashChing chief information officer Atul Narang said that the legal paperwork can be a bottleneck in the traditional home purchase process. “Borrowers are at the mercy of conveyancers, who can sometimes drag the process out unnecessarily and worse – charge more for their own delay,” he said. The integration into the HashChing platform allows users to access fixed-price conveyancing through Titlexchange without having to go offline to provide ID and personal data. […]
Meet the world’s first instant home loan: Tic:Toc
Australian fintech Tic:Toc, today announced the launch of its world first online instant home loan platform, offering eligible customers full home loan approval in just 22 minutes. Tic:Toc, an Australian online lending platform, uses a digital decisioning system to assess and approve a customers’ online application in real-time, without the need for a human credit assessor. This allows Tic:Toc to radically improve turnaround times from the typical 22 days to just 22 minutes, as well as pass on the cost savings of digitisation to the customer via competitive interest rates and no application, settlement or valuation fees. By delivering the first genuinely online and fully automated home loan, Tic:Toc hopes […]
Finch founders urge banks to invest in start-ups, not ‘innovation theatre’
Midwinter launches Kamino – cyber security service for advisers and accountants
Australian based financial services technology provider Midwinter has today announced the upcoming launch of Kamino, a cyber security service for financial advisers and accountants. The offering will include vulnerability assessments, penetration testing and ongoing monitoring in order for accounting, advice practices and licensees to assess the strengths and weakness of their systems. Midwinter saw an opportunity to offer the financial services sector a service which provides a cyber ‘health check’ – helping small to medium businesses identify vulnerabilities in their current systems and to provide guidance when it comes to protecting themselves against potential cyber threats. The company chose to narrowcast the offering to only advisers and accountants as it […]
DomaCom acquires property via HUB24
DomaCom has completed its first fractional property transaction on investment and superannuation platform HUB24. DomaCom chief executive, Arthur Naoumidis, said: “Increasing our footprint on platforms is validation that our fractional property fund is gaining wider acceptance and a place in portfolio construction that can fit into any structure”. “We’re very pleased to add HUB24 to the list of platforms coming on board with DomaCom and in this case it is GPS Wealth adviser clients who have completed a crowdfunding campaign to acquire two properties in Victoria and Queensland,” he said. DomaCom’s fractional property investment model allows advisers to approach property as a portfolio strategy investing across multiple properties, property types […]
Trump fuels demand for more ethical investing
The unexpected rise of Donald Trump has helped fuel the formation of the “ethical generation,” which is comprised of socially conscious consumers committed to ensuring their investments are sustainable and align with their own world view. In the US calls to boycott Ivanka Trump’s fashion brand saw it dumped from major department stores and after ridesharing service Uber switched on surge pricing to capitalise on the crowds at an anti-Trump protest in New York, a #deleteuber movement kicked off. Last week anti-Adani coal mine protesters prompted the temporary closure of 11 Commonwealth Bank of Australia branches in Newcastle and the boss of the corporate watchdog, Greg Medcraft is on record […]
Banks trial blockchain solution to speed up guarantee process
ANZ and Westpac have teamed up with IBM and Westfield shopping centre owner Scentre Group to bring the bank guarantee process up to speed using blockchain technology. The trial, powered by IBM’s Hyperledger Fabric platform, replaces the paper-based bank guarantee process used for commercial property leasing with a digital ledger that becomes the central source of information for all parties. Distributed ledger technology underpins blockchain, with ANZ’s general manager of digital banking, Nigel Dobson, saying the trial showcases how the technology can be used to develop business solutions. “Whether it’s crypto currencies or other public applications of blockchain, so far they have not been business grade,” Mr Dobson said. “This […]
