What can we learn from fintech disruptors?
On Tuesday Prime Minister Malcolm Turnbull, declared: “there has never been a more exciting time to be in fintech,” – but in truth, there has never been a more exciting time to be in any kind of innovation. We can’t deny that technological innovation came late to financial services but it’s here now and it’s booming. Fintech has become a multi-billion dollar consumer driven industry globally and we’re on the cusp of something great here. As we grow as an industry, we’re making mistakes and learning from them – after all, that’s what innovation is all about! Thankfully, there is much to be gained from this learning process, not just […]
Big four banks disrupt Apple’s mobile payments expansion
Apple is struggling to persuade the big four banks to sign up for its Apple Pay mobile payment system, people familiar with the matter say, as the technology giant works from an unfamiliar negotiating position: weakness, not strength. Apple rolled out the service in Australia last month with support for payment cards issued directly by American Express. The move is part of the iPhone supplier’s global drive to extend its mobile consumer electronics prowess into financial services, with a China launch expected soon. But the firm has yet to strike a deal with any of the big four – ANZ, National Australia Bank, Commonwealth Bank and Westpac. That sets it […]
First State Super commits $250m to fintech
Speaking at Sydney fintech hub Stone & Chalk yesterday, Prime Minister Turnbull said the $250 million partnership between First State Super and H2 Ventures “recognises there has been an insufficient appetite to date for this type of risk in Australia”. “But that is changing. There is $2 trillion in superannuation assets. As we start to see more investors in innovative ventures we will see the fruits of that,” Mr Turnbull said. “We’ve seen this year an explosion in venture capital funding, with more than $400 million raised so far. “That’s expected to rise to $600 million by the end of this financial year. That’s the highest amount raised in seven […]
Announcing a new partnership: Republic Wealth Management
Sharesight are pleased to announce a new partner, Republic Wealth Management. Republic is a robo-adviser catering to financial planning companies. They take care of the portfolio construction, execution, and on-going management of portfolios on behalf of financial planning companies. The portfolios consist mainly of ETFs. Republic and the advisers they serve will be utilising a branded edition of Sharesight and API to administer and report on client portfolios. This B-to-B approach makes sense. One of the challenges for any asset manager is convincing people to hand over money. This is especially true in the online advice space, which by nature lacks face-to-face meetings and a track record. Portfolios constructed of […]
Hopes high innovation statement can lift fintech
The financial technology community is eager to see if financial services will be called out in the innovation statement, reflecting the current surge in investment and activity in fintech start-ups and their potential to enhance customer service and reduce costs. The government has set itself a high bar to hurdle as it releases its innovation statement on Monday: the package will be “a complete game-changer for our country”, Assistant Innovation Minister Wyatt Roy has said, while Prime Minister Malcolm Turnbull has promised it will contain “a very large number of substantial measures”. Tax reform for start-up investors seems likely to receive bipartisan support, after Labor pledged on Friday to give […]
Fintech’s advantages: financial technology revolution is a boon for investors
There are definitely a lot of exciting new opportunities for investors to get involved in FinTech. Whether its investing capital in the products that are offered by new FinTech companies or direct investment in these companies now is the time. We are starting to see more and more articles about the opportunities in main stream media and we must surely be about to reach the tipping point. In my own experience the mention of FinTech is drawing fewer and fewer blank stares today than it was even a few months ago. A ‘Financial Revolution’ is a great way to describe our current position. We would love to hear your thoughts […]
Why Australian fintech Tyro aims to become a bank | Business Insider
Congratulations Tyro. Taking on the big banks with an agile model that allows the best new FinTech solutions should see you quickly become a front runner in banking. I know we will be doing as much of our business as possible with you and we look forward to seeing your success. The company boasts 14,000 small businesses as customers, and processes more than $8 billion a year through its payment terminals. In August it received permission to become an “Authorised Deposit-taking Institution”, or ADI. Tyro can’t call itself a bank, but is allowed to take deposits from customers.With $50 million in its coffers from the capital raising – the rest […]
Fintech start-ups thrive in Australia as the nation enjoys effortless banking services
With the banks now showing their support of Australian FinTech hopefully the regulators will start to implement the changes to policy that has seen such growth in the London FinTech Market. As referenced here there is a growing number of companies looking to support the industry with Silver Flacon one such leader. Australia is shaping up to be a destination for financial technology or fintech start-ups. As local banks are gradually opening up to the fintech industry, Australia is in a position to be the fintech hub of the Asia Pacific region. While Australia has relative strength in financial services enough to lead the fintech industry in Asia, right policy environment and […]
