Raiz chooses Versive’s AI-powered cybersecurity solution to strengthen financial security and compliance
Versive, Inc., an award-winning AI-based cybersecurity company based in Seattle, U.S, today announced that Raiz Invest, a mobile first micro-investment platform based in Australia, is using the Versive Security Engine (VSE) to help protect sensitive customer data and comply with financial regulations. Raiz provides customers an easy way to regularly invest either small or large amounts in one of six portfolios of varying risk levels. The company has 164,000 active customers in Australia, and approximately $200 million in funds under management, growing at over 20 percent each quarter. As a fast-growing financial company, Raiz wanted to increase its level of security. The company already offers bank-level security to consumers through […]
UNSW team launching the ‘Spotify of the fintech world’
Investors daunted by the stockmarket will soon be able to choose investment options in the same way as songlists, says a UNSW team of entrepreneurs. It could be music to many young investors’ ears to hear that two UNSW students have co-founded ‘the Spotify of the fintech world’ – making the stock market accessible to aspiring investors.’ Recent UNSW graduate Hayden Smith (B. Computer Science) and current final year student Kurt Walkom, along with Nick Nicolaides, are the brains behind Pearler Investments. The investing platform is essentially an app that suggests investment opportunities in ready-made portfolios, in the same way that Spotify playlists suggest music. The trio at the company […]
ETFs could be the ticket to portfolio diversification
One of the major advantages of an exchange traded fund is the ability for investors to gain instant diversified exposure, writes State Street Global Advisors’ Meaghan Victor. With one trade, ETFs can provide investors with the easiest way to achieve instant access to a broad base of companies and stock markets across different industries and even countries. The hunt for diversification Without a doubt, diversification has been a driving force behind the massive adoption of ETFs both in Australia and abroad. In fact, it could be said that in the age of the ETF, well-informed investors are learning what institutional investors have known all along. Asset allocation, not security selecting, […]
Xplora invests US$1m into BLOCKLOAN
Xplora Capital has announced the purchase of USD $1 million (AUD $1.35 million) worth of tokens from BLOCKLOAN – a new blockchain peer-to-peer lending marketplace. Blockchain and crypto are triggering a societal and economic shift before our eyes. Financial institutions are failing to address the market needs. It’s time for a new solution to old problems. Mark Finch, Managing Director of Xplora Capital stated, “As an early investor into BLOCKLOAN and working in the Financial Services space for 20 years we believe in Co Founder’s Michael and Bill’s vision and roadmap for providing the ability for people to access credit on a global scale and better rates than the banks. […]
ASIC wants stake in global regtech sandbox
Australia’s financial regulator has joined 11 other watchdogs from around the world in proposing a new Global Financial Innovation Network (GIFN) to help regulators cope with the rapid rate of technological change in the sector. The Australian Securities and Investments Commission (ASIC) says the new collaborative body would create a “global sandbox” for regtech, fintech and suptech solutions to be tested across international markets so that regulators and firms can stay on the pace emerging trends. The bold push comes as regulators around the world struggle to stay on top of the increasing speed of developments ranging from coin offerings to real time payments and settlement. Of particular concern is […]
What is the future of the digital currency in the money market?
Cryptocurrency or digital currency is the currency in which the encryption technique is used to form the currency unit. Physical Calls Having the same properties as a digital call is physically unavailable. Digital currency trading is done with the same encryption technology. The first decentralized decryption is known as bitcoin. Some other characteristics are physical presence, decentralization, reduced transaction costs, and global acceptance. Key factors driving growth in the global digital currency market are decentralized and free of government interference. With the power of immediate trading and borderless movement of ownership, digital currencies are gaining acceptance in the real estate sector, which is expected to be a major driving force […]
Keeping up with the customer in the digital age
Demanding customers, increasing regulation and clunky IT systems are proving serious speed bumps for Australian companies who want to grow in the digital age. Lending is facing a particularly sensitive atmosphere because of the banking royal commission, with many disruptors investing heavily in “regtech” – technology that simplifies compliance. These were some of the views aired by participants at a recent business roundtable event hosted by Fairfax Media and KPMG Enterprise which discussed Australia’s digital transformation. Anthony Baum, the CEO of Tic:Toc, which provides home loans that can be fully approved within 22 minutes, says technology is “way better” than traditional manual loan approval methods. “40 per cent of people […]
Zip targeting $1b of sales and 1m customers
More than half a billion dollars of sales went through credit card disrupter Zip Co’s payment system over the latest financial year, more than twice the volume of the previous year but only a quarter of that spent on competitor Afterpay. But as the popularity of “buy now, pay later” offerings continues to surge among Millennial shoppers, Zip – of which Westpac Banking Corp owns 17 per cent – is targeting $1 billion of sales over the coming year. “We are only just beginning and are well positioned for a bumper 2019 financial year,” said CEO Larry Diamond. Zip announced a $1.2 million loss at the cash earnings level for […]
