How to take a FinTech through an IPO
Raiz Invest (previously Acorns Australia) launched in 2016, quickly amassing close to one million users. George Lucas, CEO is one of the more experienced founders in the FinTech NextGen series. Many CEO’s in financial services struggle to relate to the Millennial market, not so George and his Raiz Invest team. Discover his secrets in this interview with Dexter Cousins of Tier One People. How does Raiz Invest work? George:Raiz Invest is a micro investing platform, enabling users to invest in the markets with as little as five dollars all through an app on your mobile phone. Put simply, we enable users to save in the background of life. Raiz educates a potential […]
Data Action to underpin Australian banking disruptor 86 400
Data Action (DA), a leading Australian provider of Digital and Core Banking solutions, is pleased to announce that it has partnered with banking disruptor and neobank 86 400, to deliver its Core Banking platform. The cloud-based platform has been operational for several months with all payment rails (including real-time payments) established and money already flowing through the banking system. “Having 86 400’s Core Banking platform live and functional is hugely important for them as they move closer to a full-scale launch,” Data Action’s Chief Technology Officer, Brett Miller said. “We’ve witnessed several recent examples of costly and destructive Core Banking implementation failures across the banking industry, so we know how […]
86 400 marks completion of key milestones on road to public launch in 2019
86 400, a genuine alternative to Australia’s Big Four Banks, can today disclose that it has successfully achieved a number of key milestones as part of its mission to give Australians a better banking experience. The major milestones that the aspiring bank has completed since unveiling include: Product: Field testing of the beta 86 400 app with staff during Q4 2018 — as committed to during June’s unveiling Testing of the 86 400 debit card, Apple Pay, Google Pay and Samsung Pay across Australia and overseas 86 400’s Core Banking Platform sourced from its Australian banking technology partner Data Action has been operational for a number of months. All payment rails […]
The sacrifices of running a small business in Australia
A new YouGov study of small businesses in Australia has found the lengths that small businesses owners go to make a success of their ventures. The research, commissioned by Australia’s number one online lender to small business, Prospa, shows that more than half (54%) of small business owners spend 6-7 days a week on their business, with one in four (28%) working 7 days a week. Even when not at work, small business owners continue to be engrossed, with almost three-quarters (73%) agreeing that concerns around their business prevent them from relaxing during the holiday period. Overall, nine in ten small business owners feel distracted by work in other areas of their […]
Embed banking the future of digital transformations
Embed banking will be the next wave of the digital transformation of the Australian banking industry according to one expert. Derek Corcoran, customer and marketing operations executive for fintech Avoka said that the next few years would see banks start to embed their operations where people think of them. “Embed banking is where we see the future of banking heading, so those banking services will become embed in the places that people are thinking about them,” he said. Mr Corcoran said that most people did not want to go into a bank, so banks needed to make it easier for people to connect with their products. “One of the challenging […]
IRESS expands open integration approach for XPLAN
IRESS has announced that clients will be able to easily allow third party software providers to directly access and integrate with XPLAN. The announcement is part of IRESS Open, which will see IRESS expand the number of integrations available to clients by making access to IRESS’ existing APIs simpler and easier. Under IRESS Open, clients will be able to integrate XPLAN with third party applications in two ways: Standard integrations – a new approach where clients can directly engage with third party providers and integrate XPLAN to a third party application simply and directly. These integrations will facilitate the transfer of data with the third party application, rely on a […]
US crypto exchange wants a piece of the Aussie market
U.S.-based cryptocurrency exchange, CoinZoom, has announced it will enter Australia after its wholly owned subsidiary, CoinZoom Australia, gained approval from financial regulator AUSTRAC. CoinZoom anticipates its Australian platform will go live in the first quarter of 2019. The fiat to crypto exchange will support major cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, Litecoin, Ripple, in addition to top traded altcoins. “Being fully registered with Australia’s regulatory financial oversight body AUSTRAC to operate as a Digital Currency Exchange, is an important step in our goal to provide globally compliant digital currency trading for both institutional and retail traders,” said CoinZoom CEO, Todd Crosland. To read more, please click on the link […]
BMY Group launches new digital platform AllFin
BMY Group is launching a new digital platform aimed at connecting Australian investment opportunities, products, professionals with Chinese investors, both domestically and overseas. Launching December 4, AllFin.com will matchmake companies, projects and investment managers seeking funding with relevant investors. It will also serve as a platform for thought-leadership, professional service providers and research in investment. BMY Group CEO Eric Gao said the platform is the natural evolution of BMYG’s business model, which has thrived on connecting Australian opportunities with Chinese investors. “In the last eight years, we have been working with high net worths and professional investors, to match them with opportunities, products and professional services in Australia,” Mr Gao says. […]
