Australia leads the way in revolutionary blockchain technology
Good news on the #Innovation front! Australia leads the way in developing international standards for blockchain technology. Neil Buckland explains this new technology predicted to revolutionise practically anything! Australia leads the way for incorporated blockchain technology Blockchain technology has been in the news a lot recently. Many industries are even predicting it could be the future for the way in which they operate. Australia has recently received the go-ahead to develop the international standards of the technology; a move which Standards Australia says will create better market confidence and certainty. So what exactly is blockchain technology and how could it aid businesses? Understanding blockchain technology Blockchain technology is most commonly […]
Mutual lender takes equity stake in fintech platform
Beyond Bank Australia has become the fourth customer-owned lender to take an equity stake in growing marketplace lender SocietyOne. The mutual lender yesterday announced it has acquired $1.5 million worth of shares in SocietyOne, as well as agreeing to increase its funding arrangement with the marketplace lender to $10m. G&C Mutual Bank, Maritime, Mining and Power Credit Union and Regional Australia Bank joined SocietyOne’s share register in May this year following the company’s successful $25m capital raising. The move by Beyond Bank Australia to take a stake in SocietyOne follows a long relationship between the two, with Beyond Bank Australia among the first institutions to become a direct SocietyOne investor […]
How partnerships are driving this fintech lender forward
Small business lender GetCapital is utilising strategic partnerships to benefit its customers. Fintech companies were originally thought of as disruptors, but as the game continues the rules are starting to change. Today, you’re more likely to see banks and corporates building bridges with fintech companies rather than putting up defensive walls. This is the case for GetCapital, a small business lender sharing its reins with business heavyweights such as Qantas and Alibaba. Established in 2013, GetCapital started providing standard small business loans to Australian businesses and has now diversified it to include trade finance and invoice discounting. GetCapital CEO Jamie Osborn says the idea is to provide an online small business […]
AFG ties up with US fintech to roll out SME lending platform
Small-business lending, not wealth management, will be the mortgage broking industry’s next growth engine, according to Australian Finance Group, which is busy trying to sign up lenders to its new technology platform powered by US fintech company Biz2Credit. In August, AFG quietly formed an alliance with Biz2Credit to use the company’s patented analytics and financial services technology to give its army of 2650 brokers the ability to better offer small business loans alongside traditional mortgages. AFG plans to roll out the platform early next year with a “panel” of 15 lenders that customers can choose from, including the major banks and new fintech lenders. This contrasts with the strategy of […]
Worldpay heads down under with Australia licence
Worldpay, the global leader in payments, is expanding in Australia after winning its licence to process payments in what is one of Asia Pacific’s largest eCommerce markets. The company’s expansion in Australia comes at a time of sustained growth for Worldpay, which processed 13.1bn transactions in 2015 with transaction value of £401.9bn. A number of global companies, including ASOS, Expedia, Cathay Pacific Airlines, Digital World International and Freelancer have already turned to Worldpay for payment processing in Australia. They have been attracted to Worldpay both by the company’s extensive international reach, as well as its ability to process a wide range of alternative payment methods such as eWallets and bank […]
An Aussie fintech startup is helping financial advisers fight back in the war against robots
It’s not exactly bleak, but the future for financial advisers – humans ones – is a littler cloudier now than it has been in the past. Cheap roboadvice products are infiltrating the market, offering easy-to-use products, advice and even investing money on a user’s behalf. The key word is “cheap”, as the traditional perception of having a financial adviser is linked to earning a higher than average wage. With more and more people responsible for managing their own retirement funds, roboadvisers give lower wage earners some sense of security about what to do with their savings. But recent studies show roboadvisors are also gaining popularity with high-net-worth investors. They’re not […]
SocietyOne shuffles senior ranks as volumes accelerate
Peer-to-peer lender SocietyOne is looking for a new chief marketing officer following the departure of star recruit Mitch Harad while co-founder Matt Symons has been shifted to non-executive director, as the high-profile fintech upgrades its lending forecasts and attracts more institutional capital on to its internet platform. Mr Harad was hired with fanfare mid-last year after guiding Lending Club, also a P2P lender, to a public listing in the US. It is understood his departure is amicable and he will stay in Australia to establish his own start-up. Mr Harad was lured to SocietyOne by co-founder Matt Symons, who will relinquish his executive duties and move to the boardroom as a non-executive director. His management role will be taken up by former […]
Adviser Ratings Expands Business with String of New Appointments
Financial services technology company, Adviser Ratings has recently expanded its business with the appointment of two new senior staff members and a full service PR agency to manage its B2B and B2C communications activity. Following a successful launch to market in 2015, the expansion comes as a result of increased demand in the business’ personal finance offering, as its advisory and consumer member base continues to thrive. Joining Adviser Ratings as Chief Operating Officer, Jaime Brands brings with her 10 years of industry experience, six of those spent at Google Australia & New Zealand as the Head of External Telesales Operations for the entire region. With expertise in team leadership, […]
