KPMG: Australia’s AltFin sector worth $1B
KPMG, an advisory and audit company, has released numbers that say Australia has a 32 percent share of the APAC alternative finance market, according to reports. The market has grown 88 percent year over year and it’s worth a total of $1 billion, the company said. This news comes in advance of the fourth edition of the AltFi Australasia Summit, which will take place in Sydney at the Doltone House on April 15. “This is the perfect time for challenger banks to enter the market. Through the use of technology and data we can provide our customers with greater control and transparency, and competitive rates,” said Volt Bank Co-Founder and […]
Blockchain incubator set to bolster Australian industry
Australia’s first incubator program dedicated to helping blockchain startups get their businesses up and running will be established in Adelaide. South Australian blockchain advisory firm Crypto SA has been awarded A$170,000 from the Federal Government to open the Crypto SA Lab in September. The incubator program will offer 10 blockchain startups free co-working space and mentoring services. The businesses have already applied for Crypto SA Lab and are currently in the vetting process. Program entrepreneurs will also receive blockchain technology training and broader business advice on how to run a startup. Crypto SA is an advisory firm that provides blockchain businesses information surrounding legal and financial compliance, smart contract support, […]
Unique marketplace driving alternative finance
The fourth annual AltFi Australasia Summit is approaching, with alternative finance leaders convening to discuss the future of the industry on 15 April. “Alternative lenders are currently facing a unique convergence of market happenings: reduced trust in traditional lenders, the upcoming shift to open banking, and the impending introduction of comprehensive credit reporting,” said the global CEO of alternative lender OnDeck, Noah Breslow. The 2018 Deloitte Trust Index for Banking revealed that less than half of Australians trust that their personal bank will keep its promises, and only 36% feel that their bank has their best interests at heart. According to Breslow, “This has created an opportunity to capture an […]
Australian FinTech company profile #4 – Gobbill
1. Company Name: Gobbill 2. Website: www.Gobbill.com 3. Key Staff: Shendon Ewans (CEO & Co-founder), Quentin Marsh (CTO & Co-founder) 4. Location(s): Melbourne based, Australian company. 5. In one sentence, what does your fintech do?: Automate bill payments by extracting invoice details, checking for fraud and paying using card or bank accounts. 6. How / why did you start your fintech company?: The co-founders were in a pub talking about the idea after missing some bills. We wanted to make our life admin easier, then Gobbill was used by our families and friends. It grew from there. 7. What the best thing your company has achieved or learnt along the way (this can […]
ASX-listed fintech Peppermint launches ‘Bizmoto Delivers’ micro-business pilot program in the Philippines
Peppermint Innovation Ltd (ASX: PIL) advises that a pilot of its Bizmoto Delivers micro-business program has commenced in the Philippines. The program officially started in the province of Cavite last week (Friday, 5th April), with the first 15 BizmoGo riders accredited to build their own micro business using Peppermint’s Bizmoto technology platform combined with a motorcycle that allows them to provide services to the people of the Philippines via a mobile phone app. The Bizmoto Delivers pilot program will also roll out in Novaliches, Bulacan and Pangasinan over the coming few weeks – with approximately 60 BizmoGo riders expected to be engaged in the Bizmoto Delivers trial. The pilot program […]
London threatening San Francisco’s fintech unicorn dominance, research says
London could soon overtake San Francisco as the fintech (financial technology) unicorn capital of the world, according to a new study. Of the world’s 29 fintech unicorns – private companies valued at more than $1 billion – nine are based in San Francisco, while seven are headquartered in London, the research published Tuesday said. The report, by London-based recruitment firm Robert Walters and research group Vacancy Soft, said London was “showing signs of potential to threaten San Francisco’s historic dominance of the market.” It noted that London’s fintech sector received more venture capital (VC) funding than any other EU city in 2018, securing 39% of all European fintech funding. Berlin’s […]
How Blockchain is boosting the Fintech Sector
The Financial Technology sector, commonly known as Fintech, has changed considerably over the years. From the introduction of ginormous super computers in the 1970’s that would struggle to compete with the average phone for power these days, technology has advanced the finance world. The 1980’s saw automated stock exchanges and the increased use of computer technology in everyday banking. The 1990’s brought the advent of the internet, changing our lives as well as the financial sector. Slowly but surely, mobile banking, internet banking, personal loans, insurance renewal, forex trading and more crept into our lives bringing disruption to the financial world. What was once the preserve of big banks and […]
BGL releases Simple Fund 360 integration with Australian Money Market
BGL Corporate Solutions, Australia’s leading supplier of SMSF administration and ASIC corporate compliance solutions, is proud to announce that Simple Fund 360 now has an integration with Australian Money Market, a secure online term deposit & cash investment platform. “We’re thrilled to have Australian Money Market as part of BGL’s Ecosystem”, says Ron Lesh, BGL’s Managing Director. “Australian Money Market Pty Ltd (AMM) is an online Term Deposit platform which allows you to compare and choose Term Deposit interest rates from more than 25 Australian financial institutions. AMM streamlines the administration of investing in term deposits online, saving you time and reducing admin costs. With AMM you can see all […]
