41% of young Aussies don’t know how to pay bills
New research commissioned by BPAY Group has revealed younger Australians lack knowledge around bill payments and struggle with everyday finance management. 41 per cent of Australians aged between 18 and 25 say that they have no effective system for paying their bills. 1000 Australian bill payers between the ages of 18 and 65 were surveyed in late 2016, with the findings collated by strategic research consultancy The Leading Edge. Five bill payer personalities were identified to categorise the habits and attitudes of Australian bill payers, and include: – Big Picture Organisers: 28 per cent – Life Jugglers: 27 per cent – Rigid Record Keepers: 19 per cent – Mobile and […]
NAB Ventures leads $32 million funding for Canadian fintech firm
NAB Ventures led a US$24 million (AU$32 million) series D funding round for cloud fintech firm Wave. The latter, based in Canada, delivers financial management software like payroll, invoicing and accounting. Melissa Widner, NAB Ventures’ general partner, said that the bank is interested in any emerging technologies that offer a connected experience to customers. NAB has more than 450,000 small and medium business customers, making it one of the largest banks in Australia. Wave co-founder and chief executive Kirk Simpson said that nobody understands small business in Australia better than NAB. He added that they are looking forward to explore how to serve businesses better alongside the bank. “We also […]
Bitcoin’s rapid rise gives reason to question all the hype
Bitcoin’s astronomical rally has cryptocurrency bulls feeling vindicated. “Not so fast!,” sceptics say. The digital currency’s more than 100 per cent surge in the past two months looks eerily familiar, argue the bears, pointing to November 2013, when the price quintupled in short order to top $US1,000 for the first time. By Valentine’s Day it was worth around half that, and spent the better part of the next two years languishing below $500. Then it absolutely exploded, jumping more than $1,400 in two months. At its height last week, one bitcoin could buy about two ounces of gold. Its champions touted the arrival into the mainstream of blockchain, the coin’s […]
The 2nd Annual FinTech Awards 2017
The 2nd Annual FinTech Awards 2017 celebrate the achievements of the dynamic people and businesses comprising the FinTech sector. These Awards seek to recognise success in the FinTech sector in its many forms. This event will be an evening of celebrating the best innovation, created by the best innovators and entrepreneurs that live and work in Australia. Australian FinTech is proud to be a media partner for the 2nd Annual FinTech Awards 2017 to be held in Sydney on 22nd June 2017. Australian FinTech’s CEO and Co-Founder, Cameron Dart, recently named as one of the Top 25 Influencers of FinTech in Australia, is honoured to be one of the judges […]
MYOB founder Craig Winkler just backed a Sydney fintech’s $5 million funding round
A Sydney startup that creates accounting software has secured $5 million in a series A capital raising round. Practice Ignition announced Tuesday that Microequities Venture Capital Fund led the investment, while other new contributors included Black Sheep Capital and Right Click Capital. Craig Winkler, last week named the 12th wealthiest man in Australian tech, is an existing investor in Practice Ignition and chipped in an undisclosed amount for the latest round. Winkler is best known for establishing accounting software firm MYOB then, in 2009, investing $14.7 million in its rival Xero. Xero’s shares are now worth more than 20 times the 2009, as the New Zealand company celebrated passing the […]
Bitcoin move over – there’s a new kid on the blockchain
The digital currency bitcoin has broken new records – surging by more than 245 per cent since the start of the year. In just five months, the price of one bitcoin rose from $1,331 to its all-time-high of $3,894 on May 25. People buy bitcoins for all sorts of reasons. They range from those seeking to invest in safe haven assets in the face of political instability, speculators wanting to ride the wave of what some regard to be an asset bubble, to purchasers who want to purchase illegal goods anonymously on the dark web. Since mid-2010, when the highly-volatile currency was worth just 9 cents, it has surged by […]
IRESS and ITG to deliver faster, improved analysis
Financial technology provider IRESS and ITG, a leading agency broker and financial technology firm, today announced a faster and more comprehensive analysis of trading costs for mutual clients. IRESS and ITG have aligned their systems to enable mutual IRESS and ITG clients to receive more comprehensive and efficient analysis of their trades. The alignment will also assist mutual clients in addressing the requirements set out in ASIC’s Regulatory Guide 97, which puts growing focus on costs and transparency in fund management processes. As a result of Regulatory Guide 97, automated access and analysis of trade data is becoming a top priority for the Australian fund management community. ITG’s Head of […]
Vic govt eyes blockchain’s potential
The Victorian government has become a member of Australian Digital Currency and Commerce Association (ADCCA) through the Department of Economic Development, Jobs, Transport and Resources. The government is looking to partner with the organisation “to explore the potential application and impact of blockchain across the economy, including but not limited to the financial services, health and food sectors,” the state’s minister for small business, innovation and trade, Philip Dalidakis, told Computerworld. Blockchain is the distributed ledger technology (DLT) that underpins Bitcoin and similar cryptocurrencies. “Backed by the strength of our digital technology sector, Victoria’s fintech sector and its capabilities are growing, and so is our global reputation for developing innovative […]
