Banking

Apr
15

Fintech Market Growth to Add A$1 Billion New Value to Australian Economy by 2020

The global Fintech sector exhibited robust growth in 2014 when investment activity tripled to US$12.21 billion from US$4.05 billion in 2013. This activity continued in 2015 with an increase in global funding into Venture Capital (VC) backed Fintech startups. Fintech growth in 2015 was international, and Frost & Sullivan anticipates this international dispersion, as well […]

By Cameron Dart | Banking . FinTech . Investing . Venture Capital
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Apr
14

Banks and fintechs at war over password sharing

Micro investment company Acorns has accused ANZ Banking Group and other banks of telling customers they can’t share account passwords with the start-up, retarding its growth. Fintech Australia, the new lobby group for financial services start-ups, has formed an “open data subcommittee” to push for changes to the ePayments Code to make it clear that […]

By Cameron Dart | Banking . FinTech . Investing
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SocietyOne’s Yetton: loans soar as banks struggle

New SocietyOne chief Jason Yetton says its loan book is healthy despite mixed economic conditions and record loan growth that pushed the nation’s biggest marketplace lender through the $100 million barrier. Mirroring similar trends by other new “fintech” companies, SocietyOne yesterday revealed $30m of new personal loans and agribusiness finance had been written in the […]

By Cameron Dart | Banking . Borrowing . FinTech . Lending . Peer-to-Peer
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Apr
08

Resisting Fintech disruption amounts to a loss of $13 billion in aggregated revenues

Sydney, Australia, 4 April 2016 – The Australian Banking sector is heavily regulated to prevent monopolies and collapses, and is guided by the Four Pillars Policy of the Australian Government which maintains the viability and separation of the “Big Four” banks: Commonwealth Bank of Australia (CBA), Westpac Banking Corporation (WBC), National Australia Bank (NAB), Australia […]

By Cameron Dart | Banking . Blockchain . FinTech
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Apr
07

Fintech changes the shape of banking

Jesse McWaters is the project lead for disruptive innovation in financial services at the World Economic Forum. So in January, 2014, it seemed logical to bring together about 50 senior global financial services and banking types attending Davos to consider the impact of fintech. The judgement of the experts was clear. “Banks versus fintechs? No […]

By Cameron Dart | Banking . FinTech
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Apr
06

Facebook wants to partner with Aussie banks on mobile strategy

Social media behemoth Facebook is looking to partner with Australian banks to explore opportunities in mobile banking, in a move that could radically change the face of retail banks. Paul McCrory, head of financial services Australia at Facebook, said the $428 billion tech giant has built “huge mobile platforms” that see 11 million Australians a […]

By Cameron Dart | Banking . FinTech . Payments
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Apr
04

BlackRock mulling Aussie robo-advice launch

BlackRock acquired FutureAdvisor in August 2015 and rolled out the platform to financial institutions as a business-to-business service. BlackRock Australia’s head of iShares Jon Howie told InvestorDaily he believes Australia needs FutureAdvisor now. “As always with a large organisation we have to be conscious about how thinly we spread ourselves and so at the moment […]

By Cameron Dart | Banking . FinTech . Robo-Advice
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Apr
04

NAB enlists venture capitalists to invest in start-ups

National Australia Bank is turning to the venture capital sector to run its $50 million fund that will invest in fintech start-ups, a plan aimed at boosting innovation across the lender. The bank has appointed Todd Forest, an entrepreneur, angel investor and digital media executive, to run NAB Ventures, which expects to make its first […]

By Cameron Dart | Banking . FinTech . Investing . Venture Capital
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