Why your kids want cryptos for Christmas
In 1975, the most popular children’s toy was ‘The Pet Rock’. There was no false advertising to speak of when it came to this toy. It was literally a smooth rock housed in a box with the label: ‘genuine pedigreed pet rock’. Its selling point was that it was the perfect pet — it required no maintenance, and best of all, there was no chance of accidentally killing it. It sounds ridiculous to us now. But nonetheless, in 1975, that rock was all the rage. And the genius behind the idea, Gary Dahl, died a multi-millionaire. Come 1980, the most popular toy was the Rubix Cube. In 1987, it was […]
Bendigo embraces fintech to offer instant home loans
In its bid to improve its services for potential mortgage clients, Bendigo Bank has partnered with fintech provider Tic:Toc to offer instant home loans starting early next year. The partnership enables Bendigo to utilize Tic:Toc’s platform in offering an automated assessment on home-loan applications. The bank was the first Australian lender to offer a digital home-loan application and assessment process under its own brand. Tic:Toc first launched the platform in July 2017, offering a streamlined digital fulfilment process. Tic:Toc founder and CEO Anthony Baum said the platform promises to cut expenses needed to process and deliver home-loan applications, resulting in cost efficiencies on the side of the lenders. “There’s actually […]
Vietnam banks fight fraud and keep compliant with GBG and FPT
GBG, global identity data intelligence specialist, has announced a new partnership with FPT, the leading IT services provider in Southeast Asia, to deliver fraud and compliance solutions to the Vietnam market. The partnership marks an important step in GBG’s expansion into Vietnam and is indicative of the organisation’s commitment to grow its portfolio in Asia Pacific. GBG supports some of the world’s largest financial services organisations with fraud prevention and compliance management solutions and services, many of which have a footprint in Vietnam. By working with FPT’s regional experts and robust technology team, GBG can deliver an enhanced experience for new and existing clients in Vietnam through swift, seamless solution […]
Prospa recognised in the Deloitte Technology Fast 50 Australia awards for Leadership
Prospa, Australia’s number one online small business lender, has ranked 5th for Leadership and 20th overall in the 2018 Deloitte Technology Fast 50 Australia Awards. The awards rank Australia’s fastest growing public or private technology companies based on their percentage revenue growth over the last three years (2016-18). To qualify, each company must have minimum cumulative revenues of $8m over the period. The Leadership category recognises those technology companies who have won a place in the Technology Fast 50 Australia list and whose strong track record of growth has generated cumulative operating revenues greater than $50 million. Beau Bertoli, joint CEO of Prospa said: “We’re delighted to be recognised as […]
How one fintech is changing the mortgage industry
Customers choosing home loans have traditionally either negotiated directly with banks or worked with a broker to secure the best loan that particular broker could find them. But with hundreds of lending products on the market and many brokers working with panels that limited them to a small subset of loans, consumers lacked the information to ensure they were getting the best rates and product features. Fintech Hashching has turned the process on its head by negotiating and de-branding a range of home loan products, which are then referred to brokers along with customer prospects. Because customers choose loans based on their attributes and aren’t told which organisation the loan […]
Fintech should make advice ‘enjoyable’
A software integration firm has highlighted how technology should be about making the client experience of advice more “enjoyable” as well being agile to constantly changing adviser needs. At a media roundtable in Sydney yesterday, YTML director Terri Ho said a lot of emotion is attached to financial advice, however it tends to become really dry and go down to the numbers. Further, she said that a lot of the time, trust is more important for the client and that it’s those emotional aspects that clients are looking for. “We have to make advice enjoyable. We have to make the experience of receiving advice enjoyable. And it’s certainly not enjoyable,” […]
Peppermint signs MOU with Blockchain platform
Peppermint Innovation Limited (ASX: PIL) announced it has executed a non binding Memorandum of Understanding with Vleppo to explore the delivery of a Blockchain based platform to empower banked and unbanked individuals to source loans secured by digital assets. Peppermint previously provided guidance to the market in its announcement dated 27th November 2017 that it was watching the development of Blockchain capabilities and plans. This MoU is in alignment with this announcement and affirms PIL’s commitment to exploring partnerships with leading edge technology companies operating in the Blockchain space. Peppermint’s Managing Director and CEO Chris Kain said: “As a progressive Fintech company, we are always assessing advances made within the […]
Lumi raises $31.5m to improve small business lending
Australian fintech company and alternative lender Lumi has announced it has raised $31.5 million in Series A funding as part of its plans to give small- and medium-sized enterprises easier access to finance. As a result of the funding, Lumi will become the first pre-revenue fintech business lender to offer a warehouse securitisation program in Australia. By combining its application programming interface (API) with traditional credit data and the applicant’s social impact, Lumi aims to streamline the loan application process for small business owners. Yanir Yakutiel, founder and CEO of Lumi, says the company is trying to solve the key issues of alternative lending for small businesses. “We saw a […]
