DigitalX announces deal with global telco Telefónica
ASX ANNOUNCEMENT: DigitalX Limited (ASX:DCC and “the Company”) is pleased to announce that Telefónica Internacional S.A.U. (“Telefónica”) is the Company’s first strategic partner in Latin America following the successful integration of the DigitalX AirPocket App into Telefónica’s network. The mobile phone giant signed a marketing, distribution and sales agreement with DigitalX, which was announced to the market via the ASX on 17 February 2016, that will give Telefónica’s Latin American customers access to DigitalX’s unique value transfer and remittance application, AirPocket. Telefónica, which has nearly 232 million telecommunication access points in Latin America, is one of the largest telcos in the region and is among the top five biggest telecommunications […]
Fintech upping the online broking ante
Online trading platforms are offering a slew of new features at lower prices to keep up with financial technology apps that give investors much wider choice – from upcoming IPOs to investing spare change. Investors are demanding education-rich tools and powerful data capabilities to enhance their trading experience and broking platforms have responded with real-time stock widgets, bustling online forums and the emergence of robo-advice services, allowing investors access to different markets and more managed funds. “The rise of fintech has put more powerful tools into the hands of investors in the form of research, reporting and investment ideas,” says Josh Callaghan, wealth general manager at research firm Canstar. “As […]
OpenMarkets adds XPLAN integration in major expansion of its third-party network
OpenMarkets clients can now enjoy full integration with financial planning software XPLAN, as Australia’s independent technology stockbroker takes another step towards becoming the sector’s most connected broker. The integration allows advisers trading through OpenMarkets the ability to access client transactions and holding information directly from XPLAN, removing the hassle of keying in the data themselves. OpenMarkets sees the integration as a natural step in broadening the company’s offering to independent advisers, and is part of its overall drive to expand its third-party network and bring greater efficiency to users. OpenMarkets CEO Rick Klink said, “The development with XPLAN is a natural evolution for OpenMarkets, as we continue to gain market […]
Fintech to launch ‘lite’ money management tool
Moneysoft — a revamped version of a leading PMF tool — will be launched for financial advisers, mortgage brokers and superannuation funds next quarter. Moneysoft Lite has been developed to support advisers who are implementing cashflow management systems by providing client engagement tools. Moneysoft head of operations, Jon Shaw, said that the development of Moneysoft Lite would include new and enhanced functionality available in the flagship cloud-based Moneysoft solution. Set to include an intuitive interface to guide users, automated account balances, bespoke report delivery and share data control, the PMF will customise how clients can benefit from cashflow-based advice. “Moneysoft Lite will help advisers capitalise on the mounting interest in […]
SelfWealth launches revolutionary, Australia-first low-cost brokerage platform
For the first time, Australian investors will be able to trade at the low-cost flat-fee rates as SelfWealth today launches its new TRADING platform. SelfWealth TRADING is revolutionising stock trading in Australia, finally providing flat fee trading to a market dominated by the big banks. Its disruptive model charges a flat $9.50 fee regardless of the size of the trade rather than a scaled model that sees investors paying percentage-based fees that run into the thousands for trades over $100,000. Comparison of Online Brokerage Rates (price includes GST)* Total trade size SelfWealth** CommSec E*Trade Bell Direct CMC Markets $5,001 $9.50 $19.95 $24.95 $15 $11 $10,001 $9.50 $29.95 […]
Triple A Super partners with Ignition Wealth to provide online advice for SMSF’s
Leading SMSF administrator Triple A Super will provide SMSF administration services through automated advice provider Ignition Wealth. “The rapid adoption of technology in financial services is driving the trend towards a full service, onestop shop solution for advisers with SMSF clients.” Brian Pedretti, CEO, Triple A Super. Triple A Super’s newly launched Preset administration service, with online reporting and administration services, delivers significant business efficiencies and data accuracy. Clients include wealth advisers and accountancy practices servicing SMSFs. “Preset, Triple A’s new online administration offering has already been approved by a large number of dealer groups and IFAs. The integration with Ignition Wealth will enable advisers to receive […]
Sydney Stock Exchange’s blockchain system targets venture capital funds, commodities
Two-year-old Sydney Stock Exchange is building a blockchain settlement system to avoid high ASX fees and build a market for venture capital funds to exit their investments and commodities markets. The distributed ledger will initially only be used to settle trades in private companies, but once regulatory approval is gained, it will settle trades in publicly listed stocks. SSX will promote the new settlement system as a low cost alternative to the ASX to try to attract private equity funds to exit their investments by listing on the SSX. Settlement instantaneous Once complete in early 2018, SSX hopes to sell versions of its system – which is being built with […]
OFX celebrates a momentous $100bn transfers internationally milestone
MEDIA RELEASE: OFX, Australia’s leading international payments provider and Fintech leader, have today announced a significant milestone in their transaction history, reaching $100bn in international transfers since launching nearly 18 years ago. The announcement follows CEO Richard Kimber’s first financial year results, revealing the company exceeded $100m in profit for FY16. In the process of notching up their billion-dollar century, OFX have helped customers with more than 5 million bank-to-bank transfers. An estimated 31,000 properties have been bought or funded, over 10 thousand students supported and countless other weird and wonderful things financed. Whether it’s blocks of Italian marble for a sculptor’s next masterpiece, containers of pig’s ears […]
