Australians are increasingly using their phone as a credit card: Deloitte
The pressure is on Australian banks to keep up with customer’s growing use of smartphone apps to pay for in-store and online purchases. A Deloitte survey has found the use of mobile payment solutions has grown 14 per cent over the past year, with over a quarter of respondents now using them. Mobile payment solutions include apps such as Apple Pay, Samsung Pay and Android Pay, which allow users to process payments for online or in-store purchases using the app, without having to punch in their credit card details every time. Most of these apps act as “mobile wallets”, allowing users to store their card details and authorise payments using […]
Turnbull’s banking royal commission welcomed by fintech
Malcolm Turnbull has announced plans to establish a royal commission into the banking sector, and one fintech is hopeful it will bring more competition and trust to financial services in Australia. The announcement comes following a letter from ANZ, Commonwealth Bank, Westpac and NAB to the Treasurer asking for an inquiry to restore public faith. Alternative finance and peer-to-peer lender MoneyPlace’s CEO Stuart Stoyan told Canstar a banking royal commission “has been a long time coming”. “It’s important to re-establish trust with banks and financial services more generally,” he said. “I’m hopeful it will allow us to review policies that enable fintech to provide great products and services to all […]
DigitalX named advisor on high profile ICOs raising US$61m
DigitalX Ltd (ASX:DCC) is strengthening its credentials as one of the world’s leading corporate advisors for Initial Coin Offerings (ICOs), accepting the engagement as corporate advisor to SingularityNET and BitCar for their respective upcoming ICOs for token sales raising a combined US$61 million. The SingularityNET public ICO will look to raise up to US$36 million from the sale of 500 million tokens, while the BitCar ICO will raise up to US$25 million from 250 million tokens. DigitalX offers a unique combination of Blockchain technical expertise as well as marketing and promotional services. We also have an extensive cryptocurrency network and can connect companies with investors with significant digital currency holdings. […]
InstaReM continues APAC expansion
InstaReM, a leading digital cross-border payments company, has announced its expansion into Malaysia at its launch press conference, further solidifying its presence in Asia Pacific (APAC). Headquartered in Singapore after an early start in Australia, InstaReM is one of the largest cross-border payments providers globally, with licenses in eight markets and covering 40 countries, reaching 3.2 billion people in developed and developing countries. It is consistently ranked by the World Bank as the lowest cost operator in a number of corridors in Asia. Individual and corporate customers in Malaysia will now be able to enjoy cost-effective and efficient cross-border money transfers to over 60 countries across the globe. […]
5 Aussie fintech firms that are shaking up the home loan business
by Richard Whitten, finder.com.au The home loan industry is about to change in many ways with these Aussie startups leading the way. The home loan market is a multi-billion dollar industry that hasn’t yet seen many of the same disruptions as other industries. But that’s about to change. Fintech companies boasting apps, algorithms, blockchains and automated platforms are all promising to make the process of buying a house easier and faster.Here are five Aussie fintech companies who are poised to shake up the home loan market. Tic:Toc Tic:Toc launched earlier this year with a headline grabbing promise: the 22-minute home loan (application that is, not your repayments). This startup’s promise […]
TrueProfile breakthrough in behavioural economics and profiling launches in Australia
Capital Preferences, a leading behavioural economics, decision science and financial technology business founded in the United States, announces the launch of TrueProfile.com.au – a SaaS behavioural profiling and portfolio assessment platform for Australian advisers. The award winning platform uses game theory and advanced economics to replace unscientific client risk questionnaires and data collection methods. TrueProfile is built on the reality that clients cannot accurately state their preferences for risk, they can only truly show you the risks they would be willing to take by making decisions. The client experience is gamified and reveals, in minutes, how customers behave when facing risk, spending choices and their goal priorities. Streamlining the acquisition […]
Fintech Stake launches Christmas gift cards for US shares
Forget movie or David Jones vouchers for Christmas — Aussies can now gift shares in some of the world’s largest companies, from Tesla to Amazon or Apple, to their loved ones. Stake, the Aussie shop for shares, today became the first company in Australia to offer gift cards for US company shares, allowing recipients to redeem them for US shares or Exchange-Traded Fund (industry jargon for leaving it to the experts) of their choice. After massive customer demand and a successful beta launch, the gift cards provide people with a viable alternative to socks and undies. And now the whole family can benefit too: Stake has also launched Stake Kids, […]
Bendigo Bank customers can now shop with Apple Pay
After battling with Apple earlier this year, Bendigo Bank has now partnered with all three major digital wallets. Bendigo Bank is the latest Australian institution to join the Apple Pay ranks. From today, Bendigo Bank Mastercard customers can use their iPhone, Apple Watch or iPad to make contactless payments. This means lighter wallets, faster transactions and even more secure payments. To link your Bendigo Bank credit or debit card with Apple Pay, you just need to open the Wallet app and tap the plus symbol in the upper-right corner. Then follow the prompts to enter your card’s security code to add your credit or debit card from your iTunes account. […]
