X15 Ventures launches Vonto app for small business
Vonto is a new and free mobile app that provides personalised insights and ideas to keep small businesses moving in the right direction.
Banks risk loss of US$3 billion in payments revenue to digital payments growth, non-bank competitors
Australian banks are at risk of losing US$3 billion in payments revenue by 2025 due to the growth of digital payments and competition from non-banks.
Big four bank customers flock to Xinja, deposits exceed $100m
More than half of Xinja’s deposits have come from Australia’s big four banks, a very strong signal that consumers are keen to embrace digital banking.
No ‘passive’ stakes for CBA in new fintech push
CBA hopes to get the edge on rivals by launching 25 new fintech businesses over the next five years via the bank’s new fully-owned fintech entity named X15.
Neobank offers multiple accounts for savers
Neobank 86 400 has launched three new savings accounts, each earning a maximum interest rate of 2.25% for balances up to a combined $300,000.
CBA launches app for faster lending decisions
CBA has launched BizExpress, a business lending app which provides small businesses a faster lending decision and faster funding for loans up to $1m.
Open banking and neobanks to continue their slow burn in 2020
According to RFi research there is minimal consumer awareness of open banking and neobanks in Australia
Crowdfunding platforms probably won’t replace investment banks, but they will shake things up a bit
Last year, Australia’s crowdfunding platforms raised 116% more cash than the year before. The $31.2m total easily surpassed 2018’s total of $14.4m.
