How AI is becoming an asset to the finance industry
As AI transforms an increasing number of domains, players in the finance industry are moving fast to keep pace. While many people are aware of the term artificial intelligence (AI), this is largely in relation to the more extreme use-cases of AI such as flying cars and Sophia the AI robot. Yet, much of our contact of AI – and our understanding of it – revolves around products that affect our everyday lives as consumers. An example of this is within the finance industry. Many key players are leveraging the power of AI to improve their services. Here are three ways AI is disrupting the finance industry: Customer service chatbots […]
FinTech Australia calls for comprehensive credit reporting legislation to progress
FinTech Australia, the peak industry body for the financial services, technology and innovation industry today expressed growing concern that further delays in securing the passage of the comprehensive credit reporting bill would hurt consumers and small businesses. Despite a proposed 1 July 2018 implementation date, the legislation is still in the House of Representatives, with recent reports that lobbying by an unlikely partnership of consumer advocates and the banking industry is encouraging delays and calling for more time. FinTech Australia CEO Brad Kitschke said that Australia had fallen behind other established markets in passing the bill and was surprised that consumer advocates would seek to delay something that would benefit […]
DomaCom acquires $100m lending facility
Property crowdfunding firm DomaCom and a number of private lenders have partnered to provide the DomaCom Fund with an initial lending line of $100 million. In a statement, DomaCom chief executive Arthur Naoumidis said the lending facility would allow the company to purchase up to $250 million in property. “We have been seeking a default lending solution for our platform for three years as it is clear that advisers are seeking to use debt to deliver long-term tax effective returns for their clients,” he said. “In addition to the recently announced capacity to being able to crowdfund their own debt, advisers can now simply select the debt level they are […]
How this fintech startup chief facilitated $50 million in Australian business loans without stepping foot in the country
Business loan marketplace Lending Express launched in Australia in 2016, and since then it’s facilitated $50 million in small business loans. But it was only last month that co-founder and chief executive Eden Amirav first set foot on Australian soil. Now the Israeli startup has secured $US2.8 million ($3.7 million) in funding, Amirav has plans to further improve the artificial intelligence-enabled platform, and to get his message to even more Aussies. Using artificial intelligence and machine learning, Lending Express connects small businesses seeking loans with alternative lenders. The business owner fills in an application via the online platform, and Lending Express runs an algorithm, immediately identifying the lenders that would […]
Moss junior fires up blockchain, crypto investment firm
It’s been a wild year for digital currencies but that hasn’t deterred Stephen Moss from setting up blockchain assets and investments firm, Decentralised Capital. Street Talk understands Moss, the son of former Macquarie Group stalwart Bill Moss, plans to offer over the counter trading and asset management services for high volume customers interested in digital assets and cryptocurrencies. Decentralised Capital has the backing of boutique financial services firm Aura Group, proprietary trading group Tibra Capital co-founder Kinsey Cotton and Vicknesh Pillay, founding partner at TNB Ventures Singapore. The new group is said to have already engaged with the corporate regulator, Australian Tax Office and has signed up with the Australian Transaction Reports and Analysis Centre (AUSTRAC). Prior to founding Decentralised […]
Andrew Mitchell accelerating the future of e-Invoicing with Link4
Andrew Mitchell has officially joined the Link4 Australia team, bringing his years of industry experience and leadership to the Link4 sales team.Mr Mitchell is one of the foremost salespeople currently working in the Australian e-Invoicing space and he could see the importance Link4 already has in streamlining the invoicing process for small and medium businesses. Mitchell will be responsible for developing new business opportunities, fostering new partnerships and creating customised solutions for Link4 users.Link4 is well established as an e-Invoicing market leader through important government and enterprise projects. Given this standing, Mr Mitchell will drive Link4’s sales forward making them ready for rapid expansion. Link4 Australia Co-Founders, Robin Sands and […]
Banks face a bigger threat than rival banks as customers seek best experience
Innovation and media specialist Tom Goodwin had some pertinent advice for companies, big and small, during a recent visit to Australia from New York. If banks think they are competing with other banks in terms of the functionality and appearance of their app, they are wrong. Ditto for airlines if they believe they are in competition only with rival airlines. In an increasingly connected world, argues Goodwin, consumers’ expectations are being set by the best experience anywhere. He says: “Increasingly, when we experience something amazing, it sets the bar for everyone. You get off the plane in Shanghai and you can see your Uber driver’s face and his name and […]
Australian FinTech and GreySpark Partners to collaborate on Research & Strategic Advisory for the Australian Financial Industry
GreySpark Partners, a global business and technology consulting firm, and Australian FinTech, an online space dedicated to promoting the development of the fintech industry in Australia, are pleased to announce a new partnership in which the Australian FinTech portal will serve as a conduit for accessing GreySpark-produced research reports and information related to the firm’s strategic advisory services on the use of and investments in new technologies and financial applications. Founded in 2009, GreySpark – which is headquartered in the UK, with offices in Sydney, New York, Edinburgh, London and Hong Kong – provides its base of financial markets clients with a range of traditional and niche services and products. […]
