‘Beware bitcoin tax scammers’: Tax Office
The Australian Tax Office (ATO) has warned Australians to be vigilant about scammers impersonating the ATO and demanding debts be paid in cryptocurrency. Following the end of the financial year, scammers email victims falsely claiming to be collecting tax return debts on behalf of the ATO. Assistant commissioner Kath Anderson said the ATO has recorded over $50,000 lost to scammers from unwitting victims. “Cryptocurrency operates in a virtual world, and once the scammers receive payment, it’s virtually impossible to get it back,” said Anderson. “Scammers are constantly adapting their methods to maximise their chances of picking your pocket. “Unfortunately it was inevitable that scammers would target cryptocurrency given its current […]
ETFs the ‘starting point’ for Millennials
Almost 40 per cent of first-time ETF investors are Millennials, according to new research by BetaShares and Investment Trends. BetaShares and Investment Trends have launched a joint report that examines the attitudes of people who are currently invested in (or considering) ETFs. According to the report, the average age of ETF investors had dropped: the average age of those who began investing in ETFs five years ago was 56, whereas the average age of those who began investing in ETFs 12 months ago was 42. Furthermore, Millennials were found to have the greatest appetite for ETFs, with the report revealing this demographic made up 38 per cent of online investors […]
Use fintech apps to grow your wealth
Fintech (finance-technology) startups have exploded in the past five years, shaking up traditional product and service offerings in banking, insurance and superannuation; industries long overdue for disruption. Digital “non-bank” platforms and apps are promising to demystifying complex financial processes, personalise customer experience and offer round-the-clock convenience. Whether you’re paying off debt, budgeting, getting started with investing or saving for retirement, there is likely to be a fintech app to help you. However as digital technology replaces human decision making, we need to ensure that the algorithms that will increasingly decide our financial fate do not reflect the unconscious and often unhelpful biases of their creators. As artificial intelligence expert Clara […]
International transfer provider OFX launches developer portal with international payments API
ASX listed foreign currency exchange company OFX (formerly OzForex) today announced the launch of a developer portal.
1 in 4 are financially stressed, but Australia just got Wisr
Wisr (formerly DirectMoney) launches new brand with new financial wellness focus. ASX-listed Wisr today launched a major rebrand of the personal lending company, following its official name change from DirectMoney. Wisr is Australia’s only ASX listed marketplace/p2p lender and is one of the very first to emerge in Australia. Now entering its fifth year, the company is going through a phase of rapid growth and expansion, and the new brand reflects the company’s repositioning into a technology-led, customer-focused company with a vision to “bring financial wellness to the world”. Research has shown that 1 in 4 Australians are financially stressed, and the number one cause is high interest debt (typically […]
DigitalX Ltd teams with MailGuard to develop blockchain based cybersecurity network
DigitalX was recently appointed as adviser for two major initial coin offerings. DigitalX Ltd (ASX:DCC) has been appointed corporate advisor to MailGuard, the world’s largest private Software as a Service (SaaS) email security company. DigitalX will advise MailGuard in the development of a blockchain cybersecurity ecosystem called GlobalGuard. Based out of Perth and New York, DigitalX provides initial coin offering (ICO) advisory services, blockchain consulting services and software development A new method to fight cybercrime In a world first, GlobalGuard will combine artificial intelligence (AI) and Blockchain technology to identify emerging email-borne cyber threats.Global spending on cybersecurity products and services is predicted to exceed $1 trillion by 2021. GlobalGuard is […]
FinTech Job of the Week – CEO of FinTech Australia
After the recent resignation of current CEO Danielle Szetho, FinTech Australia are currently recruiting for a new CEO. Got what it takes? Love FinTech? Love start-ups? Read all about the job and apply for the role all in the one spot here on Australian FinTech Jobs, Australia’s only dedicated FinTech employment platform.
Smartpay secures fintech connection with Alipay
Dual-listed payments facilitator Smartpay (ASX: SMP) has signed a cornerstone agreement with Alipay, China’s largest payments provider with around 520 million active users and clearing around $1.7 trillion per year in transactions. The deal brings together the largest online payments provider in China and the largest independently-owned EFTPOS provider in Australia — a deal that could serve as a watershed moment, opening the door for other similar agreements amongst smaller players in the near future. The deal also means that Australian consumers will obtain a far wider range of payment and money transfer options than before. Smartpay said that “harnessing this reach will both boost the merchant’s revenues and benefit […]
