DomaCom lauds Morrison’s Kidman decision
Crowd funder DomaCom has welcomed the announcement by the Treasurer, Scott Morrison, that the sale of the giant Kidman Station to a Chinese consortium is “not in the national interest”. DomaCom CEO Arthur Naoumidis said it was “very pleasing” that the Government had heeded the outpouring of public sentiment on the proposed $370 million sale and had reached a “preliminary finding” to reject the bid by Dakang Australia Holdings. The company has until 3 May to respond. Morrison had earlier rejected a bid by a related Chinese company, the Penxing Group. DomaCom launched a 11th hour book-build late last year to keep Kidman Station in Australian hands, and in about […]
The Australian fintech start-up streamlining access to US stocks
Australian investors could soon be able to buy international shares direct from their Facebook Messenger app, using the social network’s recently unveiled chatbots. That’s one of the possibilities under consideration by start-up online broker Third Party Trade, which opens to investors today and aims to make it easier and cheaper for Australians to buy US shares. Facebook this month highlighted plans for chatbots through its Messenger app, which would allow users to interact with businesses and make purchases through the app. Third Party Trade chief executive and New York-based Australian Michael Giles says investors could soon use Messenger to ask a chatbot for the latest price of Apple shares, and […]
Apple, ANZ Bank strike deal for Apple Pay in Australia
Apple is expanding its Apple Pay digital wallet in Australia after ANZ became the country’s first bank to support the mobile payment service, executives at the pair told Reuters. Apple Pay allows users to register credit cards on devices such as iPhones, and pay for goods and services by swiping the devices over contactless payment terminals. Apple charges card providers for transactions via the service, which it introduced to Australia last year with American Express. The latest partnership extends the service to ANZ customers and represents the culmination of months of talks with the bank and three bigger peers, all of which had already agreed to support Google’s rival Android […]
Goldfields Money Ltd enters fintech JV to progress digital banking initiative
Goldfields Money Ltd (ASX:GMY), an Authorised Deposit‐taking Institution (ADI), has entered into a JV with a financial technology (fintech) company Mooola Pty Ltd, as part of its transformation into a digital bank. As part of the JV, Sydney-based Mooola will provide technical services and advice to Goldfields to develop a digital software platform for its financial products. In return, Goldfields Money will provide core banking and financial products to the customers of Mooola under Mooola’s own retail brand. This will enable Mooola to launch a new retail banking application later this year targeting customers in the 18-35 age bracket using its fintech expertise. New customers who come to Goldfields Money […]
Access to talent critical for innovators
The “Tech Pioneers 50” report, released on Wednesday, ranked Australian and New Zealand businesses on their capital raising efforts, sector diversity, innovation and success with consumers. Software “unicorn” Atlassian, valued at over $6 billion in 2015, was named the leading tech pioneer, while Kiwi accounting software company Xero was ranked second and creative hub Envato came in third. H2 Ventures founder Ben Heap, whose firm produced the report alongside investment bank Investec Australia, said the top 50 firms employed 5400 people in high-skilled roles that didn’t exist even a decade ago. He said the companies were best placed to lead the charge into the digital economy. “The next 10 to […]
The fintech phenomenon: Do Aussies only want to borrow from banks?
Marketplace lending, online business loans, robo-advice, blockchain – none of it means anything without consumers. So what do Aussies think of fintech? The threatening, disrupting nature of fintech is a widely discussed topic, with consumer benefits often being the focus. However, what’s interesting is that in the push to get companies, ideas and funding across the line, the actual customer — whether they’re a borrower, investor or seeker of advice — often gets left behind. Robert Allen, director of payments technology and consulting at PwCm spoke about what’s driving fintech at a Fintech Sydney event this week. “Fintech is being pushed forward by a new way of thinking, by millennials, […]
Tech Pioneers Top 50
Congratulations to the Australian & NZ FinTech companies that have made the Tech Pioneers Top 50 as compiled by H2 Ventures, with the support of Investec. 2. Xero 6. OFX 8. Vend 9. Invoice2go 15. Harmoney 18. Tyro 19. Prospa 20. SocietyOne 24. Moula 25. Nitro 43. Stockspot 47. Hey You 49. Equitise
CXi Software announces Superannuation initiative, new Staff
CXi Software (“CXi”) has announced a new maternity leave initiative aimed at encouraging more women to work in the fintech industry and making it easier for them to take maternity leave without the worry of interrupting their superannuation savings. “From today, CXi will pay superannuation contributions for any permanent staff member who goes on statutory maternity leave. These employer contributions will be paid at an amount equivalent to the SGC rate payable on that staff member’s ordinary full time salary immediately before going on maternity leave – and will be paid for up to 12 months or the staff member’s return to work, whichever is the earlier”, said Séamus Ó […]
