BGL announces integration with fintech firm
SMSF software provider BGL Corporate Solutions has integrated with a financial software firm that provides research tools for financial advisers. BGL managing director Ron Lesh said the integration will enable users of AdviserLogic to authorise the software firm to extract data from Simple Fund 360. “AdviserLogic has a suite of software products built to assist financial advisers, licensees, brokers, corporate authorised representatives, software providers and AFSLs holder to prosper,” said Mr Lesh. AdviserLogic chief executive Daniel Gara said AdviserLogic is committed to its direct data feed product DataLogic, which has now grown to include dozens of platforms, fund managers, stock brokers and insurers. To read more, please click on […]
How the rich invest: Afterpay’s Nicholas Molnar makes a cool $200 million
The tearaway market success of Afterpay Touch Group has however supercharged the fortunes of its 28-year-old co-founder Nicholas Molnar. Afterpay is fast becoming the go-to payments platform for Millennial shoppers who want to own products immediately but pay for them in instalments. The instalment service is growing rapidly. It has more than 1.8 million customers and is growing at roughly 3300 new customers per day. There are now 14,000 retailers using the service; it will soon be available for buying Jetstar flights and in May announced it was transacting in the US after cutting a deal with retail powerhouse Urban Outfitters. The potential for growth in the US has been […]
Praemium inks deal with WA-based wealth manager
A West Australian wealth manager with about $1.2 billion in funds under management is Praemium’s newest client. Broking and wealth management firm Hartleys will manage its client portfolios using Praemium’s reporting and administration platform, with the deal set to increase cost efficiencies in Hartleys’ administration process. With Hartleys looking to enhance its value proposition, Praemium’s investor portal served as a key in the decision to award the mandate. Hartleys chief executive Charlie Ransom said Praemium stood out for its strengths in corporate action processing and performance analysis and reporting. “This allows us, most importantly, to have a consolidated view of our clients’ overall portfolio, provide timely and accurate reports to […]
Supply Chain Finance: What’s It All About?
Picture this. You run a business. It’s successful. You’re a supplier (subcontractor, etc.) to a large company (major retailer, major contractor, think big and corporate). You get an invitation to join their supply chain finance program. But what does that mean for you? And why is it being offered in the first place? It’s possible this is the first time you’ve ever heard of supply chain finance, and if it is you wouldn’t be alone. It’s also referred to as supplier finance, or as an early payments program, and essentially, it’s a financing program by a large corporation that lets the businesses it deals with in it’s supply chain access […]
Beware of digital pickpockets: How to secure cryptographic keys
The Australian financial market is being increasingly disrupted by Fintech. The number of fintech startups in Australia had increased from less than 100 in 2014 to almost 600 in 2017. Banks are having to respond to digital disruption quickly and sometimes without warning or adequate preparation. The rise of cryptocurrency is already challenging banks with more innovative systems for transaction settlement. Despite its recent decline, overall, cryptocurrency values have skyrocketed over the past few years. With this comes a major financial incentive for cyber criminals to design malicious code and sophisticated hacking tools to harvest cryptocurrency coins. One quick way for attackers to enjoy a huge pay day is by […]
Stake unlocks $31 trillion US share market for Aussies, launching new trading app
Rapidly-growing Australian fintech startup Stake is set to revolutionise trading and open up direct access to the $31 trillion US stock market as its new trading app launches today. The app is the first to give Aussies access to more than 3,000 shares to invest in some of the world’s biggest companies with $0 brokerage, right from the palm of their hands. The app launch comes as Stake announces significant company growth. More than $50 million (US$38 million) has been transacted on the site, with more than 39,000 trades and 12,000 users who are taking advantage of low-cost, simple direct access to the US market. This next big milestone — […]
Independent Reserve launches Ripple
Independent Reserve, the Australian digital currency exchange, will commence trading in Ripple (XRP) on 7 July, 2018. All XRP trades will be discounted to 0.1% for the first two weeks. XRP is the third largest digital currency by market cap after Bitcoin and Ether. Developed by Ripple Labs, the protocol and currency were designed with the banking and institutional market in mind, enabling fast, low-cost transfers between fiat currencies as well as other assets including gold and airline miles. Ripple Labs has partnerships with a wide range of institutions around the world including NAB, Westpac and American Express. Its current market cap is around USD $18 billion. One XRP is […]
Fintech Startup Trade Ledger expands UK operation. Appoints New CFO
Fintech startup Trade Ledger — which describes itself as the world’s first corporate open banking lending platform — has announced the opening of its European operation, headquartered in London, along with additional hires. Lisa Callaghan will move from the role of accountant to Chief Financial Officer at Trade Ledger’s Sydney office, after representing technology start-ups from inception through to early fundraising as a partner at Interactive Accounting. The UK operations will be headed up by a new Chief Innovation Officer with the company tapping some talent from Equifax UK. The expansion is designed to boost Trade Ledger’s international traction and product market fit, and should allow it to take advantage […]
