UK fintech ‘unicorn’ Ebury heads to Australia
British fintech firm Ebury has set up shop in Sydney, having identified the Australian market as a good foothold for southern hemisphere expansion.
VendorPanel raises $2.35 million to simplify procurement and drive positive social and economic outcomes
VendorPanel, a leading Australian procurement platform, announced it has secured AUD$2.35 million Series A capital led by Microequities Venture Capital Fund, with strategic investment by Aconex founders Leigh Jasper and Rob Phillpot.The financing will be used to accelerate growth, extend product development, and expand into new international markets. With Microequities Venture Capital Fund, Jasper and Phillpot all holding globally successful track records in the SaaS B2B marketplace, the investment is a significant vote of confidence in the Melbourne-based technology company.Following the investment, Justin Lipman of Microequities Venture Capital Fund will join the VendorPanel board. He commented: “VendorPanel’s vision and expertise are helping to simplify procurement. Over 1,000 organisations have seen the benefits so […]
Homeloans to fund and use Athena’s new home loan platform
Homeloans Ltd will provide debt funding to Athena Home Loans and has joined Macquarie and SquarePeg as a shareholder of the new home loan platform, which is preparing to launch later this year with technology to link mortgage borrowers directly with super funds and non-bank lenders. Athena, founded by two former National Australia Bank executives, is targeting $1 billion of lending in its first year, a drop in the ocean compared to the $1.7 trillion mortgage market. However, the strategic partnership announced by ASX-listed Homeloans on Monday morning shows major banks, which are grappling with a loss of customer trust due to the banking royal commission, are under growing pressure […]
Cointree and Gobbill partner to let Aussies pay their bills with cryptocurrency
Major telcos, utility providers and insurers may not have jumped on the cryptocurrency bandwagon, but thanks to two local fintech startups that no longer matters, with cryptocurrency owners now able to pay any bill in crypto. Cryptocurrency exchange Cointree and automated billing platform Gobbill will let Australians pay bills with cryptocurrency, regardless of whether the business itself accepts the digital currency. Gobbill acts as a go-between, taking the funds from its users and paying the bills on their behalf. Gobbill co-founder Shendon Ewans admits that he was late to the cryptocurrency party, only beginning to dabble in it early last year, but said that’s what made a partnership with Cointree […]
Advisers with robo capabilities will have an edge
While standalone robo-advice won’t attract affluent investors, it will offer a competitive advantage to traditional wealth managers over competitors, GlobalData says. The research company said that robo-advisers alone didn’t attract assets under management, and that high net worth (HNW) investors generally only entrusted small portfolios to digital-only platforms. GlobalData’s Technology in Wealth Management: Drivers for Adoption and Future Trends survey found that demand for robo-advice was growing, however, meaning that offering it could strengthen human advisers’ value to clients. Forty per cent of private wealth managers surveyed noted strong demand for the technology from clients, most obviously in the Asia-Pacific region. “Despite some drawbacks robo-advice is a competitive advantage that […]
The Impact of Fintech on Financial Services
As the presence of fintech in various industries keeps growing, its impact on some industries is getting harder to ignore. Financial services in particular have benefited a lot from the integration of various modern financial technologies in their work, and we’re likely only seeing the tip of the iceberg, with more coming up not too far on the horizon. Faster Processing of Complex Transactions It’s easier than ever to process complex financial transactions at the blink of an eye and settle all accounts correctly down to the last cent. This used to be a nightmare for many accountants and other specialists in the financial services sector, but it’s now a […]
Industry fund contract under works at Link
Link is in advanced stages of negotiating a contract with an industry fund, the administrator said in its FY18 earnings report. It remains in advanced stages of negotiating a long-term contract with Rest, the company said. The Rest contract has been rolling on a monthly basis.Link also said it has a good organic pipeline of opportunities across the business combining with good momentum already from client wins in 2018, buoyed by Link Asset Services (LAS). New client wins for the year have included the Wales Pension Partnership (LGPS pooling). It expects LAS integration benefits to start flowing from FY19. “Steps are being already being taken to refocus the LAS business […]
FinTech Aus calls on Parliament to pass consumer-friendly laws
Voluntary promises by the Australian Banking Association on behalf of the big four banks can’t be relied on, and Parliament should pass consumer-friendly legislation, like Comprehensive Credit Reporting, without delay, according to FinTech Australia. FinTech Australia voiced concerns that there may have already been attempts by the banks to delay or roll back on the promise, and suggested it could have been a tactic to prevent compulsory regime. CEO of FinTech Australia, Brad Kitschke, said trusting the banks to share data on a voluntary basis would end in poor consumer outcomes, and delaying legislation would only be in the interests of the banks. “Allowing the big banks to control or […]
