Brexit: Bitcoin surges in wake of Out vote
One of the few winners from Britain’s shock decision to exit the European Union on Friday was the virtual currency bitcoin, which rose more than 7 per cent as investors flocked to what they perceived a safe haven asset. Bitcoin jumped above $US670 after the vote, according to data from CoinDesk, prompting analysts to label it “digital gold” – a reference to gold’s historic status as a haven from financial turmoil. Over the past month, the virtual currency has been buffeted by changing sentiment around the vote, rising more than 70 per cent as the Brexit camp gained momentum before being sold off in recent days when it appeared Britons […]
Fintechs say high ASX standards are vital
The chief executives of two fintech companies preparing to list on the ASX say the Australian public market remains an attractive funding option for young technology companies despite the botched float of music streaming service Guvera. ChimpChange, a digital bank in the US, is set to list on the ASX this Thursday, after raising $15 million to help lift its profile to millennial customers in middle America, where it provides low-fee deposit accounts. Avoka, a software developer working for global banks, has just completed a $16 million fund raising from private investors and is eyeing a listing on the ASX in around 18 months. The bosses of both companies say […]
1st Annual Australian FinTech Awards 2016
Congratulations to the winners of the 1st Annual Australian FinTech Awards 2016! FINTECH INNOVATION IN PAYMENTS – Afterpay FINTECH INNOVATION IN WEALTH MANAGEMENT (ROBO ADVICE) – Owners Advisory by Macquarie Group FINTECH INNOVATION IN LENDING (FOR FINTECH) – SocietyOne BEST INNOVATION IN CYBER-SECURITY & ANTI-FRAUD – Entersoft BEST FINTECH COMMUNICATIONS CAMPAIGN – Acorns BEST RESEARCH IN FINTECH – Panalitix BEST FINTECH-BANK COLLABORATION OF THE YEAR – OnDeck Capital’s partnership with CBA FINTECH LEADER OF THE YEAR – Daniel Foggo of RateSetter FEMALE FINTECH LEADER OF THE YEAR – Loretta Joseph of the Sydney Stock Exchange FINTECH CTO/CIO OF THE YEAR – Glenn Riddell of RateSetter INSURE-TECH STARTUP OF THE YEAR – […]
Australian FinTech Company Profile – HashChing
FINTECH COMPANY: HashChing FINTECH SECTOR: Online Mortgages WEBSITE: www.HashChing.com.au CONTACT: [email protected] PHONE: 1800 464 338 FOUNDED: 2015 FOUNDER(S) / CEO: Mandeep Sodhi & Atul Narang DESCRIPTION: HashChing is Australia’s first online marketplace allowing consumers to access great home loan deals without having to shop around. ABOUT: Completely FREE to consumers, HashChing connects you directly to verified mortgage brokers who can further negotiate a better rate from the lenders and save you time, hassle and money. Ask any home loan related question on HashChing and only verified financial experts will respond to you promptly to help you make smart and informed financial decisions. HashChing’s vision is to keep Australians financially smart […]
FinTech sector accuses banks of not playing fair
The Financial Tech start-up industry, known as FinTech, is a vibrant new sector that promises to disrupt—or at least compete with—incumbent finance businesses in Australia. The Turnbull Government has made several announcements indicating support for the sector. But some in the sector are accusing the banks of not playing fair, by actively misleading their customers in advising them not to connect to FinTech services. LISTEN: To listen to ABC’s Fran Kelly, joined by RN Breakfast’s Technology Editor Peter Marks, click on the link below… Source: FinTech sector accuses banks of not playing fair – RN Breakfast – ABC Radio National (Australian Broadcasting Corporation)
Fintech to invest $1b into blockchain this year
Financial and technology firms are expected to invest more than $US1 billion to bring blockchain technology to capital markets in 2016. That’s according to a new survey from Greenwich Associates, where a majority of participants said blockchain has the potential to change markets within the next five years. The 134 interviewees, including executives at banks, exchanges, asset managers and blockchain technology companies, said the main obstacle hindering the technology’s widespread use was a “vested interest” in legacy systems. “The financial sector will continue to put its weight behind blockchain this year,” Richard Johnson, vice president for Greenwich’s Market Structure and Technology group, said in the report. “Blockchain is beginning to […]
Australia’s Small Businesses receive boost to their funding with new credit tool
Australia’s leading peer-to-peer business lending platform, ThinCats Australia, has boosted small businesses’ opportunities for funding through the launch of a new credit assessment tool that makes finance applications easier. Created by local company Othera, the credit assessment tool allows small companies to prequalify for loans on the ThinCats platform, as well as allowing its 300 peer-to-peer lenders make more informed business lending decisions. ThinCats now has access to Othera’s Lender Dashboard to run credit assessments on loans applied for by small businesses on the platform. According to John Pellew, Chief Executive Officer and Founder of Othera, the typical prequalification process takes lenders anywhere from two to four […]
Blockchain more than hype: Nikko AM
Speaking on a panel at the Bloomberg buy-side forum, Nikko Asset Management managing director Sam Hallinan described blockchain as “the new facilitator”, one that is set to drastically improve efficiency in the sector. “It could be deemed hype, but it could also be the biggest change to asset management in years,” he said. Blockchain’s capacity to list and reconcile transactions and trades represents a marked shift from traditional methods, which rely on several phonecalls and paperwork, Mr Hallinan said. “The current method of reconciling trades hasn’t changed in 40 years,” he added. According to Mr Hallinan, the change to retail market interaction triggered by robo-advice is significant, and he noted […]
