Kerry Agiasotis of WUBS: Win-win when rivals turn partners
One of the world’s largest non-bank providers of international business payment solutions says aspiring fintech companies should seek to pursue partnerships with their big company rivals rather than fighting them if they want their ideas to reach their full potential. The chief executive of Western Union Business Solutions, the dedicated business payments unit of the New York Stock Exchange-listed Western Union Company, said the firm was increasingly looking to partner with fintechs and other start-ups. WUBS is primary spot foreign currency trading provider to 20 per cent of the SME market in Australia and secondary provider to another 20 per cent, including the big four banks. It has more than […]
Australia among first to introduce bitcoin regulations
Australia will be one of the first countries to impose regulations for bitcoin and other cryptocurrencies under anti-money laundering and counter-terrorism laws. Australia’s financial intelligence agency, AUSTRAC, is co-hosting a counter-terrorism financing summit with in Bali and, ahead of this, has highlighted that ecurrency such as bitcoin enables terrorists to transfer money anonymously. Justice Minister Michael Keenan said: “The report recommends strengthening an already robust legal framework to respond to new and emerging threats.” “The government is committed to facilitating growth and innovation in this sector and appropriate anti-money laundering and counter-terrorism financing regulation will aid that development.” The AUSTRAC report, Terrorism Financing in Australia 2014, said: “Terrorist groups engaged […]
Fintech luring more bank customers, says UBS
More Australians will turn to start-ups for financial services in the next year, according to a UBS report, which shows incumbent banks are complacent about the threat of disruption but are also seeking to partner with fintech firms to help them cut costs and improve customer experiences. UBS banking analysts surveyed 27,914 customers of more than 210 banks in 24 countries, along with 61 management teams from banks around the world. Local UBS banking analyst Jonathan Mott along with analysts in London, New York and Tokyo contributed to the global report, titled Global banks: Is fintech a threat or an opportunity? UBS suggests the answer to the question is “Both”. […]
Coinbase expands to Australia
We are excited to announce that Coinbase has expanded its services to Australia. Customers in Australia can now buy bitcoin and ether using their credit and debit cards. We’re focused on creating an open financial system for the world, allowing people to easily buy and sell digital currencies anywhere in the world. Along with this launch in Australia, we are also making the ETH/BTC trading pair available on our professional trading platform GDAX to customers in Australia. To get started, visit the “Trade” page on Coinbase.com or tap on “Buy” or “Sell” options in our iOS or Android apps to add a credit or debit card and buy digital currency. […]
Brexit provides lessons for Australia’s FinTech start-ups
[ Extract ] Lessons for Australia Australia’s FinTech scene, scarcely acknowledged eighteen months ago, has developing rapidly and now commands the attention of policymakers, banking executives and the financial media here alike. We have a highly advanced financial services sector, one that is acknowledged globally as mature, skilful and well regulated. It contributes around AU$140 billion to GDP each year and employs some 450,000 people. We have the fourth largest pool of investment funds in the world, anchored by the AU$2 trillion-plus in our nation’s superannuation funds. That a viable FinTech ecosystem has developed Down Under should therefore come as no surprise. Australian start-ups span the FinTech spectrum across peer-to-peer […]
Australian FinTech partners with award winning currency transfer service TorFX
Australian FinTech is here to benefit FinTech companies in Australia and it’s the perfect platform to promote your company, brand awareness and your amazing products and services. To assist on the foreign exchange currency side of your business, Australian FinTech has partnered with TorFX. Australian FinTech have teamed up with award winning currency transfer service TorFX, to provide an alternative to the banks for transferring your funds internationally. A great option for you to transfer your funds is through TorFX. TorFX are assisting a large number of our clients to ensure they receive a more competitive exchange rate comparing to what the banks can offer TorFX are a simple, safe […]
Forex fintech Airwallex secures US$3m from Alibaba’s VC firm
Fintech startup Airwallex has strengthened its Melbourne and Chinese development teams and accelerated R&D of its international payments platform following a US$3 million pre-Series A investment round led by Shanghai-based VC Gobi Partners. Gravity VC as well as angel investors Huashan Capital One and Billy Tam (CEO of Easylink Payments, the company behind Chinese payment powerhouse PAYECO) also participated in the fundraising. Currently in beta trial stage, the Airwallex platform is powered by a peer-to-peer algorithmic engine that enables businesses to issue and pay invoices in their preferred currency at the mid-market foreign exchange rate, avoiding inflated bank margins and minimising currency fluctuation risks. Airwallex Co-Founder and […]
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
