The Winners of the 2019 Fintech Business Awards have been announced
The Winners of the 2019 Fintech Business Awards have been announced. Congratulations to all the Australian fintech companies and leaders – well done! Individual categories Femtech Leader of the Year Jodi Stanton – SendGold Fintech Entrepreneur of the Year Ruth Hatherley – Moneycatcha Fintech Mentor of the Year Peta Tilse – Sophisticated Access Fintech Thought Leader of the Year Charmian Holmes – The Fold Legal Fintech Business Excellence Award (Individual) Ruth Hatherley – Moneycatcha Company categories Accounting Innovator of the Year Class Limited Compliance Innovator of the Year Advice RegTech Financial Advice Innovator of the Year Myprosperity Fintech Start-Up Business of the Year Trade Ledger Insurance Innovator of the Year […]
Wisr $10 million placement heavily overbid, upscales to $15 million
Wisr Limited (ASX: WZR), Australia’s first neo-lender, announces it has received commitments to raise approximately $15 million after costs via a placement of approximately 220 million shares. The Placement was oversubscribed and completed with the support of new and existing institutional, sophisticated and professional investors.The issue price for the Placement is 6.8c per share, representing an 8% premium to the last traded price of the Company’s shares on 25 March 2019. The shares issued pursuant to the Placement will rank equally with existing ordinary shares of the Company.The Company will issue shares for the Placement in two tranches. Settlement of Tranche 1 of the capital raise, for 134,767,857 shares, is […]
Nayax Australia chosen as Reis & Irvy’s Australia’s exclusive cashless solution provider
Nayax Australia, a leading fintech company has been selected to provide Froyo Robotics Reis & Irvy’s Australia business with a cashless payment solution for their robotic frozen yogurt franchise business. Like its American franchisees, the partnership will see Reis & Irvy’s robotic machines fitted with Nayax’s VPOS Touch device. Nayax will enable consumers to choose between a wide range of cashless payment methods when purchasing a customizable frozen dessert. Nayax was selected because cashless payments are vital to the Australian market, where cash is rarely used, and contactless payment plays an important part of Australian consumers payment experiences. With Nayax’s management and telemetric capabilities, Reis & Irvy’s franchisees will be able to access real-time […]
How will the escalating deployment of mobile wallets help enhance consumer experience and sustain business growth?
Over the past decade, mobile connectivity has given rise to innumerable business opportunities and consumer-centric developments, the mobile wallet being one of them, that have grown beyond expectations. From taking low quality pictures to QR code scanning and from mere internet browsing to digital payment applications, mobile phone technology has significantly advanced to deliver more convenience to users as fast as possible. As money transactions are an obligatory part of everyday life, they represent a boundless potential for different payment solutions to be utilized in various commercial settings. One can say that initially, e-commerce platforms had already laid down the foundation and shown the viability of secure online payments, inspiring […]
ASIC gets tough on ‘regtech’
Banks will have to explain why they aren’t using the latest technology to improve their compliance, as the corporate regulator takes a “bolder” approach after the shortcomings revealed by the banking royal commission. Australian Securities and Investments Commission executive director of financial services Michael Saadat said an “if not, why not” approach would be adopted to force banks to explain why, when they aren’t using the latest technology including systems offered by start-ups. Commonwealth Bank told The Australian Financial Review Banking & Wealth Summit it was talking to ASIC about its roll out of artificial intelligence technology to help it understand its legal obligations. “In the past, we have probably more […]
Australian banking giant ANZ fails to understand Blockchain Technology
Australia and New Zealand Banking Group Limited (ANZ) — Australia’s third-largest bank by market cap — doubts blockchain technology’s ability to provide trustless transactions, at least for now. Additionally, the firm acknowledges the benefits of the technology but claims banks don’t need to make the switch. Could ANZ be any more wrong? After curiously examining distributed ledger tech, ANZ associate director of trade and supply chain product Maria Bellmas, stated the futuristic technology is far from becoming the main method of executing trusted payments. Taking another jab at blockchain, Bellmas claimed most of the hype surrounding the technology is created by “crypto fanatics” trying to find comfort in the ongoing bear market. […]
Future of banking is personal and personalised
The future of banking will involve delivering a “goodie bag” of solutions tailored to Millennial customers. Steve Weston, chief executive of “neobank” Volt Bank, said banks traditionally helped customers by dealing with them face to face but provided no additional help on a day-to-day basis. “From the moment you walked outside of the door of the branch, you were left to your own devices. “Neobanks and banks of the future will understand what customers are trying to achieve … often just by asking but also by data analytics.” He said neobanks will be able to provide a “goodie bag of solutions” so customers can achieve their financial goals in a […]
Show me the Moula
Moula CEO Aris Allegos, tells the story behind the fintech’s multi-million dollar securitisation In early March, online business lender Moula secured an additional $250m in funding to lend to Australian businesses, which was raised through the latest round of a securitisation program launched in 2015. To enhance the impact of the funds on the business sector, Moula also adjusted its terms and conditions, extending repayments from 24 to 36 months and doubling the maximum loan amount to $500,000. In a move it says is “unprecedented” in the online lending space, pricing starts at 15.95%, with no establishment or direct debit fees and no early repayment penalties. So high is the […]
