Apr
16
Novatti Group (ASX:NOV) 1H19 results & outlook
Novatti Group Limited (ASX:NOV) CEO, Peter Cook talks about the company's 1H19 results, growth in transactions processing and range of processing solutions, and provides an update on Novatti becoming an ADI (authorised deposit-taking institution). Anna Napoli: Welcome to the Finance News Network, I’m Anna Napoli and joining me now from Novatti Group Limited (ASX:NOV) is CEO, Peter Cook. Peter, welcome back to FNN. Peter Cook: Good morning Anna. Anna Napoli: Novatti Group is a financial transactions processor and developer. Can you tell us more? Peter Cook: Novatti develops technology, very specific fintech solutions for both our third party customers and our own financial services networks. Most of our focus is […]
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Apr
16
WP Hosting Customer Spotlight: Amber
WP Hosting spoke to Ryan Neale of Amber, a startup helping people prepare for a world where assets and currencies have become digital. Amber is an app that lets you swap your spare change for Bitcoin and other digital assets. It doesn’t have to be a big investment either as you can commit as little as 50c a day. As Amber describe it; “the spare change from each of your transactions is automatically converted into Bitcoin and Ethereum — like a digital piggy bank.” Amber was founded exactly a year ago by Aleksandar Svetski and Chantelle de la Rey and are headquartered in Brisbane. A quick intro: who are you […]
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Apr
16
Key benefits of robo-advisors in Fintech
When you are investing and strive for a higher ROI, whom do you address? As a rule, you reach out to a team of wealth advisors. That means meeting regularly with those financial consultants to discuss your ventures and make adjustments to your investment portfolio. This process is time and money consuming and can be frustrating, as well. This does not need to be the case. We know how to change it with a revolutionary new approach to wealth management. A new service called robo advising makes it a thing of the past. These digital assistants provide automated algorithm-based portfolio management analysis with accurate figures and efficient risk assessment. Robo-advisors […]
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Apr
16
What does NPP mean for businesses and how on earth do they implement it?
Since going live on the 13th of February last year, retail banking customers have adopted NPP on mass. In fact, a number of major banks now use the NPP as a default method of transferring funds between Australian accounts. However, so far, progress has been slower for businesses despite some obvious benefits of real-time, data-rich, immediately-resolved payments. And not only that: NPP payments have the potential to be significantly cheaper than credit cards – the only alternative real-time option. We at Moneytech specialise in the automation of domestic payments flows for businesses. From our perspective, it looks like there are two reasons for the slower business adoption rate. The first […]
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Apr
15
Coming of age: Australian crowdfunding platforms raised $8.7m in the March quarter
Investing results for the March quarter suggest that when it comes to investing, Australians don’t appear to be too afraid of crowds.Among the major crowd-sourced funding (CSF) platform, Birchal led the way raising a total of $4,780,700 across four companies, from a total of 3,294 investors (another two closed successfully in April). It was a similar story at Equitise, which raised just shy of $3.9 million from 2099 investors. More broadly, $8.7m worth of crowd-funded capital raises were closed off in Q1 across the sector as a whole. Of that amount, two funding rounds stood out; Birchal’s $3m raise for Shebah’s all-female ridesharing platform which set the record for an […]
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Apr
15
NAB board member to float AI start-up on ASX
An artificial intelligence start-up founded by NAB board member Geraldine McBride has raised $3 million, led by Perennial Value Management, ahead of an anticipated float later this year. The company, which was founded in 2013 by mother-daughter duo Ms McBride and Amy Johnson, utilises customer data within big energy companies, banks and insurers that has traditionally been siloed, and applies artificial intelligence to be able to provide more personalised experiences for customers. For example, a banking customer could identify that they are saving for a holiday and with MyWave's technology the bank would be able to provide automated, personalised savings advice. If the AI algorithm determined that it was unlikely […]
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Apr
15
86 400 secures national distribution with Vow Financial, readies home loan offering
86 400, a genuine alternative to Australia’s Big Four banks, has secured national distribution with Vow Financial, one of the largest aggregators in Australia – part of the Yellow Brick Road Group. The partnership will enable 86 400 to deliver home loans via Vow Financial’s network of over 1,200 brokers. This development brings 86 400 closer to launching its home loan offering, pending a full banking licence from the Australian Prudential Regulation Authority (APRA). Robert Bell, CEO of 86 400: “We didn’t set out to create a standard home loan product — we are building an entirely new approach to the home loan process that will make life easier for […]
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Apr
15
Rejected by banks: SMEs struggle to secure finance
Research commissioned by OnDeck, a leading online SME lender, highlights the problems that small businesses face trying to secure finance. Two out of five SMEs surveyed have sought finance in the past. However, almost one in four (23%) have been knocked back by their bank. Rejection rates rise to 37% among businesses that have been in operation for less than five years. Noah Breslow, Global CEO of OnDeck, says, “What is particularly concerning, is that one in three SMEs rejected for bank finance have had to reach out to family or friends for funding, or have simply resorted to using a credit card.” Lengthy finance approvals hurt SME operations […]
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