Xero & CommBank unveil innovations to transform small business banking
Xero today announced the first of many new features to be released with Commonwealth Bank, Australia’s largest bank, designed to enable mutual small business customers to make smart, informed decisions. A world first is the ability to set up direct bank feeds from either platform. Mutual customers of Commonwealth Bank and Xero can choose to start their journey within Xero, or connect from the Xero accounting platform directly within NetBank. This feature also accelerates the processing time of setting up Commonwealth Bank bank feeds for a small business customer from ten days to having the feeds available overnight. It means Commonwealth Bank and Xero customers can reconcile more of their […]
H2 Ventures Fintech Expo 2016
H2 Ventures Fintech Expo 2016 H2 Ventures are hosting its third annual Fintech Expo, an opportunity to hear from some of the most talked about and exciting Fintech companies in Australia. Tuesday 19th of July 2016 Get your tickets here: http://h2vfintechexpo.eventbrite.com.au/ Save Save
NAB launches instant card feature with NAB Pay
Whether you’ve lost your card or left it at home, you can now use NAB Pay to make contactless payments with your Android phone. NAB is the latest bank to launch a new feature to add to the contactless payments bandwagon. With the launch of a new instant card feature on the NAB Pay app, customers with compatible Android devices can now use their phone to make payments if they’ve lost their card. As a replacement card typically takes a few days to arrive, the feature is an easy way for cardholders to continue making payments without their card. You can use your Android phone for payments wherever contactless cards […]
ANZ backs private blockchain, but won’t go public
Like all the big banks, ANZ Banking Group is experimenting and investing in blockchain technologies, but don’t expect it to adopt a public ledger any time soon. The recent hack of the Decentralised Autonomous Organisation (DAO), a cryptocurrency experiment built on the Ethereum blockchain network that raised more than $US150 million worth of cryptocurrency, served as further proof for the bank that public blockchains were still too risky for adoption, and would likely remain so for the forseeable future. “The point about who controls a public blockchain is slightly worrying and what happened with Ethereum two weeks ago is a great test case,” ANZ group strategy executive manager Nicholas Groves […]
Which fintech innovations are really adding value to customers?
Financial services, of all sectors, has seen some of the most significant technology innovations in recent years. Banks and insurance companies have been very keen to leverage technology in such a way that is mutually beneficial to both vendor and consumer, and now even superannuation is getting involved in the technology revolution. While there is a lot of innovation happening for the sake of it, not all of it is useful for the end user. It sounds simple, but what we learned as we developed our automated SMSF solution is a lesson that a lot of other financial services apps seem to forget at times; good design principles that keep […]
Fintech is going to be much bigger than you think
If payments can be made anywhere, anytime, across any device, why do you need a currency? Or even a bank? The “fintech” revolution is upon us – but what we’ve seen may only be the start of it. Fintech – a term coined with the listing of peer-to-peer lending platform LendingClub on the New York Stock Exchange in late 2014 – is not only a portmanteau of ‘financial technology,” it describes a whole new industry composed of companies that use technology to make financial services more efficient. It’s big, it’s growing and it’s disruptive. “Fintech is set to change finance as profoundly as the issuance of the first permanent banknotes […]
Fintechs say high ASX standards are vital
The chief executives of two fintech companies preparing to list on the ASX say the Australian public market remains an attractive funding option for young technology companies despite the botched float of music streaming service Guvera. ChimpChange, a digital bank in the US, is set to list on the ASX this Thursday, after raising $15 million to help lift its profile to millennial customers in middle America, where it provides low-fee deposit accounts. Avoka, a software developer working for global banks, has just completed a $16 million fund raising from private investors and is eyeing a listing on the ASX in around 18 months. The bosses of both companies say […]
1st Annual Australian FinTech Awards 2016
Congratulations to the winners of the 1st Annual Australian FinTech Awards 2016! FINTECH INNOVATION IN PAYMENTS – Afterpay FINTECH INNOVATION IN WEALTH MANAGEMENT (ROBO ADVICE) – Owners Advisory by Macquarie Group FINTECH INNOVATION IN LENDING (FOR FINTECH) – SocietyOne BEST INNOVATION IN CYBER-SECURITY & ANTI-FRAUD – Entersoft BEST FINTECH COMMUNICATIONS CAMPAIGN – Acorns BEST RESEARCH IN FINTECH – Panalitix BEST FINTECH-BANK COLLABORATION OF THE YEAR – OnDeck Capital’s partnership with CBA FINTECH LEADER OF THE YEAR – Daniel Foggo of RateSetter FEMALE FINTECH LEADER OF THE YEAR – Loretta Joseph of the Sydney Stock Exchange FINTECH CTO/CIO OF THE YEAR – Glenn Riddell of RateSetter INSURE-TECH STARTUP OF THE YEAR – […]
