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Mar
01

End of an era as Australian start-up pioneers Pollenizer call it a day

Pioneering Australian start-up incubator and consultancy Pollenizer will shut down after conceding that it had failed to find a sustainable business model for its operations. The company, which has nurtured hundred of local start-ups since being founded in 2007 by Phil Morle and Mick Liubinskas, officially told staff and investors on Tuesday that it had reached the end of the road. Mr Morle had been running Pollenizer as sole chief executive since Mr Liubinskas left to join Telstra-backed incubator Muru-D. Mr Liubinskas has been based in San Francisco since last year as Muru-D’s venture portfolio manager, but remained a director at Pollenizer. Mr Morle told The Australian Financial Review the […]

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Feb
28

ANZ’s Shayne Elliott favours partnering to cut innovation risks

ANZ’s chief executive has flagged further partnerships with fintech and regulatory technology companies, saying large organisations faced a “trap” of driving up operational risks by doing too much themselves. Fresh from a trip to Europe to see how banks were tackling the rapid rise of digital, Shayne Elliott said he was not concerned that fintechs were trying to “eat our lunch” and tipped that banks and start-ups would increasingly leverage each other’s skills and market ­advantages. After signing up ANZ last year to Apple’s digital wallet Apple Pay, Mr Elliott added that technology companies such as Uber and Amazon were setting the bar for consumer expectations and banks needed to […]

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Feb
28

Budding QLD entrepreneurs get the opportunity to fast-track their FinTech ideas at BOQ Hackathon

The next generation of tech entrepreneurs are being called on to come up with ideas that will disrupt the banking and finance industry and solve real business problems at the BOQ Hackathon, running from 3 – 5 March 2017.   Hosted by BOQ and technology start-up hub River City Labs, budding innovators and tech-heads will pitch their business idea and solution to a panel of high-profile tech judges.   Over a 52-hour window, attendees will have the opportunity to bounce ideas and solutions around with some of Queensland’s top talent before turning their concepts into prototypes.   Donna-Maree Vinci, Group Executive and Chief Operations, Digital and Information Officer (CxO) at […]

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Fintech pioneers video ID verification

Global software provider SuiteBox has upgraded its tech platform to allow multiple parties to witness the signing of documents such as loan contracts in real time. “This new functionality allows for a meeting host and up to three participants to meet together to virtually witness, sign and collaborate on documents in real time, in a safe and secure cyber environment. No other video conferencing software option offers this capability,” said CEO Ian Dunbar. While SuiteBox was not reinventing the concept of digital signatures, the firm had taken the concept to an extended level, he told Australian Broker. By combining the signing process within the digital portal, the platform allows brokers […]

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Feb
28

Banking disruption ‘hasn’t even begun’

While there is plenty of talk of fintech impacting financial institutions, we are still in the early stages of disruption, says MoneyMe chief executive Clayton Howes. Speaking at a Sydney fintech meetup held at KPMG’s Barangaroo headquarters last week, Mr Howes said disruption by the sector’s entrepreneurs has a long way to go. “Fintech hasn’t even begun to disrupt banking yet. Wait until you see what’s about to hit over the next few years, as consumers become increasingly accustomed to faster, more convenient and more personalised ways of interacting with their own money,” he said. “They will continue to demand more from financial institutions, and it will be the fintechs […]

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Feb
28

Open data key to Aussie fintech lenders success

A reluctance by banks and government agencies to share data with alternative lenders is driving up the cost of borrowing in Australia, a global fintech leader told the AltFi Australasia conference in Sydney today. Rob Young, Senior Vice President, International at OnDeck Capital Inc, said that a lack of open data is a major issue for alternative lenders in the fintech space. “If we want fintech to flourish we need to create the right environment. This means fast and easy sharing of data – with customers’ permission – so lenders can make informed decisions. Customers get a better deal when their lender has more certainty about their credit profile,” he […]

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Feb
28

Fintech investments hit US$656m

Investment in Australian fintech hit US$656 million ($854.2 million) in 2016 across 25 deals, according to a survey. In an announcement by the Federal Treasurer, Scott Morrison, an analysis by KPMG found the average growth rate of fintech was around 90 per cent over the four years to 2016. This compared to the 47 per cent slide in fintech investment globally to US$24.7 billion in 2016. “The Turnbull Government is keenly aware that the financial services sector plays a critical role in the Australian economy,” the announcement said. Morrison noted the Government’s Fintech Advisory Group’s progress of the review of opportunities for blockchain, the examination of ways to improve data […]

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Feb
28

Adelaide start-up and fintech company Joust to launch in New South Wales under NOVA Entertainment Group funding deal

A MAJOR entertainment company has thrown its financial support behind Adelaide-based technology start-up Joust, allowing the company to expand its home loan auction service into New South Wales. The Wakefield Street business today announced it had successfully raised another $400,000 and secured NOVA Entertainment Group as a strategic investor. The company, which operates in SA and Victoria, says the funding takes to almost $2 million it has raised since its inception in early 2015. Co-Founder and managing director Mark Bevan said 650 customers have used Joust to seek a better home loan interest rate and that the value of home loans “jousted” was already more than $250m. “We now have […]

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