ASX

Aug
01

Intiger hopes BOOM will be hit with financial planners

ASX-listed fintech Intiger Group Limited has launched a back-­office online management portal, BOOM, to give the financial ­industry a leg-up in tackling compliance and administrative costs. The portal runs as a Software as a Service solution and delivers every administrative process ­advice document that users need to run their practice. Advisers can order administrative process and advice documents online 24 hours a day, seven days a week. Intiger managing director Mark Fisher said the platform was created in response to growing demand from practice owners. “BOOM is a dramatic and disruptive break from tradition for ­financial planning practice owners,” Mr Fisher said. He added that the “efficiency dividend” promised by […]

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Netwealth fronts fundies on path to listing

Investment services and superannuation advice company Netwealth has booked fund managers for meetings in Sydney, Melbourne, Hong Kong and Auckland this week, as it ramps up plans for an initial public offering. It’s understood Netwealth management will present to fundies starting on Monday, in meetings arranged by sponsor brokers Credit Suisse and UBS. The company is expected to pitch the high growth it has seen in its investment platform, with $14.3 billion in funds under advice and more than 2000 advisers on board. The non-deal roadshow comes as Netwealth’s shareholders push for an ASX-listing later this year. It’s understood to be eyeing about a $150 million to $200 million raising as part […]

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Jul
06

What Monopoly? Blockchain startup Setl sets sights beyond Australia

Setl founder Peter Randall isn’t waiting for permission to build the first competing platform in an Australian post-trade system long dominated by a monopoly. While the Australian Securities Exchange (ASX) enjoys exclusive rights to clear and settle transactions for the nation’s financial institutions, Randall’s startup has already built a service he believes can process the load more quickly and at lower cost than ASX’s proprietary CHESS platform. Ironically, ASX’s exploration of distributed ledger tech with partner Digital Asset Holdings has boosted the blockchain industry in Australia, yet its monopoly means less competition in bringing solutions to market. Nevertheless, Randall isn’t waiting for the nation’s regulators to begin loosening older, monopolistic […]

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Jul
04

Re-listed fintech hopeful comes back to the market after merger

ASX investors reacted positively when the newly minted post-merger Afterpay Touch Group hit the ASX boards last Thursday, pushing the stock 8 per cent higher on its first trading day. The listing is a result of the combination of two digital payment companies: Afterpay and Touchcorp. Australia has a long way to go to catch up to its global counterparts when it comes to technology and innovation. According to a 2015 study on global innovation Australia ranked 17th in the world, well behind the US, Germany or the UK. More importantly, “the lucky country” also lagged regional counterparts Singapore, South Korea and our neighbour New Zealand. Despite its impact, information […]

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Jun
30

Royal Bank of Canada deal for 9 Spokes

9 Spokes, the ASX-listed cloud app integrator, has scored its first big win in the North American market with the Royal Bank of Canada geared up to use a white-label version of the company’s platform. 9 Spokes co-founder and CEO Mark Estall said the RBC deal was likely to open the door to further partnerships in the lucrative market. With a letter of intent signed, 9 Spokes has started commercial negotiations with the bank and expects to formalise the contract within the next three months. According to the company, it is in active talks with several other large banks, including a major US financial institution. Mr Estall told The Australian […]

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DigitalX secures new funding

DigitalX Ltd (Company or DCC) is pleased to announce that it has entered into a conditional subscription agreement and converting loan agreement with Blockchain Global Limited, an Australian incorporated company operating in the Bitcoin and Blockchain space internationally, to invest approximately $4.35m at 2.7 cents per share to acquire an interest in approximately 40% of DigitalX on a fully diluted basis. The price of the investment represents a 28.5% premium to the VWAP of DigitalX’s shares over the last 5 days in which shares were traded prior to the date of this announcement. The investment is conditional upon the satisfaction of specific conditions precedent, which are outlined below.   Under […]

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May
25

Winners at The Finnies!

Congratulations to those Australian Fintech companies and their fearless leaders who won awards last night at the inaugural Finnies Fintech Awards:   Female Fintech Leader of the Year: Emma Weston, AgriDigital Co-Founder & CEO   Joint Male Fintech Leaders of the Year: Greg Moshal & Beau Bertoli, Prospa Co-Founders   Fintech Organisation of the Year: Afterpay   Emerging Fintech Leader of the Year: Emma Weston, AgriDigital Co-Founder & CEO   Emerging Fintech Organisation of the Year: Spaceship   Best Fintech place to work: Prospa   Best workplace diversity: Timelio   Marketing Campaign or Brand Initiative of the Year: Equitise – Equitise Bubble   Excellence in establishing Market Presence (Australia): BrickX […]

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An Australian fintech is letting ‘bankless’ Filipinos pay without handling cash

Australian fintech Peppermint Innovation has signed a partnership deal in the Philippines to provide mobile payment services to locals that don’t have bank accounts but do have a phone. The ASX-listed company announced its new partnership with SUNMar Express Global Services, which will see the Filipino company white-label Peppermint’s technologies, on Thursday. Peppermint chief executive Chris Kain told Business Insider many Australians wouldn’t realise there are “hundreds of millions” of people in neighbouring countries that don’t possess a bank account. “Because the country is spread over thousands of islands, the Philippines has one of the lowest rates of account ownership in the region. More than two thirds of Filipinos are […]

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