Australian FinTech launches International FinTech platform
The team behind the highly successful AustralianFinTech.com.au, this week launch their International platform, InternationalFinTech.com, aimed at connecting the FinTech industry on a global scale. Founder and CEO, Cameron Dart, says International FinTech has been born on the back of the highly successful Australian FinTech platform and growing demand from the global community to have a dedicated online presence for their sector. “International FinTech mirrors the Australian FinTech platform, including a dedicated industry newsfeed and a comprehensive directory of FinTech companies globally. “The site also aims to educate users of new financial technologies such as peer to peer lending and cryptocurrency, all presented in simple terms with no financial jargon” says […]
Cashless society on horizon as Aussies embrace digital transactions
The march towards a cashless society is gathering momentum, with a rise in digital wallet use prompting more companies to offer online only products and services. A report by UK-based Juniper research predicted that digital wallets- in the form of smartphones and other devices used to make online payments- will account for $1.35 trillion in global spend by the end of 2017- a 32 per cent increase on 2016. The research comes just over a year since the Westpac Cash Free report revealed the majority of smart phone users believed Australia could become cashless as early as 2022. Smart phone users already made 53 per cent of their payments digitally […]
Fintech platforms disrupting business finance
The term ‘fintech’ covers a wide and ever-growing range of technologies. This article explores some of the biggest game-changers, and how they’re impacting the way businesses are managing their financial affairs. Treasurer Scott Morrison said of fintech in 2016: “It has the power to completely bring in a new environment of competition. For small businesses out there who find it difficult to attract capital, for large government agencies who are struggling with convoluted and difficult payment systems … to medium-sized businesses that are trying to bring their products up to date and to connect with their consumers in ways they haven’t before.” Then on his visit to a G20 Conference […]
IBM, Optus and Australia Post join blockchain group
IBM, Optus and Australia Post have joined the Australian Digital Currency Commerce Association (ADCCA).
Global Fintech OFX hires Shears as CMO
OFX, formerly known as OzForex, has appointed Rebecca Shears as chief marketing officer. Shears joined the global payments business in August last year, and has been instrumental in directing the international rebranding of six regional brands to one streamlined global entity. OFX facilitates international currency transfers for consumers and payments for businesses. Using a proprietary interbank system, the Fintech is able to beat standard bank rates on international currency transfers by up to 75 per cent. Shears has over 20 years of experience in marketing roles, executed across the UK and Australian markets. She started her career at Unilever and has since held positions at British Telecom, Telstra and T-Mobile. […]
One country dominates the global bitcoin market
Almost all bitcoin trading is done in China. The share of the cryptocurrency that’s traded via China’s mainland currency escalated over the past few years, overtaking the US dollar as the dominant currency. From less than a 10% share in January 2012, the yuan now makes up nearly 100% of all bitcoin trading. Bitcoin surged 120% last year, outperforming every other currency in the world. It kicked off 2017 by rising above $1,000 for the first time since 2013.Those moves were made possible largely because of China. Volumes of bitcoin trading increased as China’s foreign reserves shrank, by about 8% to $3.05 trillion in 2016. Meanwhile, the yuan weakened against […]
Bitcoin tipped to replace gold as portfolio staple
Digital currency is increasingly being seen as serious asset class, but investors need to get in soon to mine the opportunity, says a Silicon Valley-based entrepreneur. Speaking to InvestorDaily from San Francisco, Australian-born entrepreneur Michael Dunworth, CEO of Wyre and a former staffer at Midwinter Financial Services, said professional investors and advisers are waking up to the bitcoin opportunity following strong market performance. “Bank of America, hedge funds and high-net-worth individuals – they’re all getting into digital currencies as part of their diversified portfolio,” Mr Dunworth said. “There’s no getting away from it. It has been one of the best performing assets for the past five years, with no serious […]
Bitcoin rises to record on currency controls
Bitcoin hit an all-time high overnight, according to Bloomberg data, thanks to continued adoption in China and other parts of the world where traditional currencies are tightly controlled. The digital currency, which just turned eight years old, reached $US1140.64, which was higher than the $US1137 it hit in November of 2013. In December, bitcoin also surpassed its previous all-time high in total market capitalisation, which now exceeds $US16.1 billion. The latest increase was driven by capital or currency restrictions in countries ranging from China to India and Venezuela, where people purchased bitcoin to protect their savings, as well as increased adoption by investors. The digital currency beat every other currency, […]
