Non-bank business lenders growing in popularity amongst SMEs
There is no doubt the big banks remain major players in the SME lending market however, there has been a steady rise in the number of non-bank lenders offering fast and flexible lending options in this space. They are able to move much faster than the traditional banker with their unique ‘fintech’ approach, giving small business owners across Australia alternative options when seeking business funding. Going hand-in-hand with this preference for more flexible finance solutions amongst SMEs is the demand for unsecured lending options. Business owners are demonstrating they understand the need to pay a small premium in return for fast, flexible finance options which do not require them to […]
Acorns Australia rebrands to Raiz Invest
Acorns Australia has rebranded to Raiz Invest, a move that follows the company’s announcement in February to divest from Acorns. From today, all users will be prompted to update their Acorns Australia app, after which they will see the new Raiz Invest brand, logo and colour scheme. The website will also reflect the new name and branding. Raiz Invest Managing Director, George Lucas, said: “Today marks another significant milestone in our company’s history with the name change from Acorns Grow Australia to Raiz Invest. “After our recent agreement with Acorns, we felt a new name was an important step forward. The change reflects our new autonomy and our ability to […]
Doshii and Bluflow integration
Doshii is thrilled to announce a partnership going forward with a Bluflow integration. Bluflow’s solution which creates advanced digital menu systems is already popular with many businesses, but thanks to a collaboration with Doshii for a reliable POS connection this technology is set to become even more efficient. After initially meeting with Doshii to discuss an integration strategy, Bluflow were able to implement a certified solution within weeks. Bluflow is excited about the benefits of this integration with Doshii, and the additional features gained by Bluflow customers from a linked POS system. About Bluflow Bluflow offers an innovative solution for POS systems. It allows businesses to coordinate their digital menus […]
Wealth management products make big leaps in digital sales readiness
Australians can now apply for 60% of all wealth management products offered by the country’s biggest banks from their mobile phones, according to a fintech which helps financial services companies acquire clients. Avoka measured digital sales readiness for the 50 largest banks across Australia, North America and Europe for products across three segments: personal banking, business banking and wealth management. Eleven of the 50 banks were Australian. Australia “leads them all” in digital readiness, the fintech said. “Banks have accepted that online account opening is a must have, not a ‘nice to have’. The focus now is on whether the largest banks can transform their entire customer engagement across all […]
HUB24 expands distribution with two appointments
HUB24 has announced Colonial First State’s (CFS’s) Shane Muscat and Paula Day have joined the platform provider to expand its distribution capability and support network. Muscat, former head of institutional sales at CFS, has been appointed as head of strategic sales at HUB24, and would lead new business initiatives with licensees, boutiques and new corporate partners. Prior to CFS, Muscat held senior roles at Macquarie Wrap and Avanteos. Day, former CFS head of strategic accounts has been appointed as head of key accounts and would manage and build strategic relationships with the platform provider’s large licensee clients. Day had previously worked for various firms including Westpac, ING Australia and BlackRock. […]
How cashless payment technology is helping local business thrive
The days when a trip to the ATM was compulsory before strolling to your local market are numbered. Instead small businesses now find themselves faced with the new breed of “cashless consumer”, and adapting to suit. According to a recent survey by the RFi Group, 32 per cent of Australians believe they can go cashless. Fortunately, the advent of low-cost and low-fuss technology allows local businesses, including sole traders, to sell their products and services quickly and easily, whether it’s a small item or a more expensive impulse purchase. A shift in mindset Michael McQueen, retail trend forecaster and bestselling author of How to Prepare Now for What’s Next, says […]
Crowd2Fund prepares to cross fintech bridge to Australia
Leading P2P lending platform Crowd2Fund are launching an Australian office by becoming one the first UK-based companies to utilise the new ‘FinTech Bridge’ between the UK and Australia. The Enhanced Cooperation Agreement, signed in March 2018 between the FCA and the Australian Securities and Investments Commission (ASIC), will make it easier for regulated FinTech companies in both Australia and the UK to start trading in either market. Key benefits of the Bridge include the speeding up of company licensing between the two territories, as well as more strategic collaboration between the FSA and ASIC in order to grow the respective markets of each country. Michael Ward, the Director General for […]
Australian millennials have taken to robo financial advice
Australian millennials are dominating when it comes to using robo-advice to get ahead with their money, according to the latest Robo-advice Report from Investment Trends. The study is based on a survey of 10,000 online investors and 1,425 financial advisers between February and December 2017 across Australia, the US, the UK, Spain, Germany, France, Singapore and Hong Kong. In Australia, robo-advice has gained significant recognition among the Australian online share investor population, with 22% saying they are familiar with these services. Only in the US, where the bulk of innovation in robo-advice is taking place, is familiarity with robo-advice significantly higher (39%). “The Australian financial services industry is ripe for […]
