Australia, China to co-operate on fintech
Regulatory body ASIC has entered into an agreement with the China Securities Regulatory Commission to “promote innovation” and share information on market trends and regulatory development in the financial services sector. According to a statement from ASIC, the agreement will provide a “framework for information sharing between the two regulators” and will allow them to stay updated on “fintech activity” in either jurisdiction. The agreement has a specific focus on sharing information on regulatory technology, or ‘regtech’, “in recognition of the importance of regulators keeping pace with the fintech industry”. ASIC chairman Greg Medcraft said he looked forward to the two regulators sharing insight on regtech.“Understanding new developments and their […]
Micro-investing app Acorns launches ‘Little Acorns’ feature
Acorns users can use the new feature to start saving and investing for their children. Popular micro-investing app Acorns has announced the launch of its Little Acorns feature, allowing users to start saving and investing for children under the age of 18. The new feature is a solution for Acorns users who want to start a savings fund for their child or grandchild, but don’t want to create a separate account to do this. Acorns has become increasingly popular since launching in 2016, particularly among Australian millennials who have embraced the app’s iconic round-up feature. The app allows you to round up your everyday purchases with the spare change invested […]
Jacaranda Incubator Program – Backing Australian Fintech
Jacaranda Finance is on the hunt for Australia’s most exciting, high growth potential Fintech startup, establishing the Jacaranda Incubator Program. Background Jacaranda Finance is one of the fastest growing financial technology start-ups in Australia. With the recent launch of the new and improved Jacaranda decisioning engine, the young startup analyses vast quantities of data from numerous data sources within seconds. This allows the company to make smarter credit decisions and expand the availability of fair, affordable, responsible and more transparent credit solutions for consumers. “It’s no longer hard, expensive or impossible to acquire and process large volumes of data relating to our applicants”, says Daniel Wessels, CEO of Jacaranda. […]
Australian FinTech SelfWealth IPO offering self directed investors alternative to traditional broker trading
SelfWealth Limited, an Australian FinTech business offering a flat fee brokerage service and social portfolio construction network for Australian investors, is pleased to announce the opening of its Initial Public Offering (IPO) to raise up to A$7.5 million (with a minimum subscription of A$5.0 million). SelfWealth is offering for issue 37.5 million shares priced at A$0.20 per new share; the indicative market captialisation of SelfWealth will be approximately A$26.1 million. The Company’s ASX ticker code will be SWF. SelfWealth was established in 2012, with a $A2.3 million capitalisation, by founder and Managing Director, Andrew Ward. Since launching, the Company has introduced two platform offerings: SelfWealth TRADING, a $9.50 commission free, […]
Debt payment start-up Credit Clear poaches OpenPay’s CEO Simon Scalzo ahead of raise
Fintech payments technology start-up Credit Clear has poached the CEO of one of its start-up rivals as it prepares to embark on a $10 million capital raising push. The company, which automates the debt collection process and facilitates customer communication over Facebook Messenger, SMS or email, has lured Simon Scalzo from “buy now pay later” platform OpenPay to lead the company. Credit Clear launched in July and has been predominantly funded to date by its chairman and co-founder Mark Casey, a property developer who made $14 million from the sale of a sheep farm near Geelong. Mr Casey started the business alongside SpotJobs co-founder Lewis Romano, saying it would make it easier for people to pay […]
Sharequity wants to lead equity crowdfunding in new direction
Australia’s newest equity crowdfunding platform, Sharequity, is planning to work with the corporate fundraising sector rather than compete with it as the first companies get ready to raise capital through the crowd in Australia. Founded by former GMP Securities Chief Operating Officer, Asia Pacific, Geoff Reilly and backed by leading crowdfunding figure Jack Quigley, Sharequity already has several companies ready to raise capital by traditional routes, and then through equity crowdfunding when it’s license is approved. Sharequity, which will also feature other complimentary products, has also already signed a partnership with share registry business Automic and expects to do deals with more corporate advisors, brokers and other traditional […]
Monthly fintech revenues triple in a year
The median monthly revenue growth for Australian fintech companies is up 208 per cent over the year to June 2017, according to a new report by EY and FinTech Australia. The 2017 EY FinTech Australia Census report, the second of its kind and released at the Collab/Collide Summit in Melbourne yesterday, found that 86 per cent of fintech companies had increased their monthly revenue growth in the year to June 2017. The median monthly revenue growth of fintech companies at the post-revenue stage had grown by 208 per cent (or 3.1 times) in the year ending June 2017. Almost one in four (24 per cent) fintech companies reported revenue growth […]
Australian Fintech companies amongst 2017 Finder Awards
Once again the 2017 Finder Awards was dominated by Australian Fintech companies, like they have done in previous years. Congratulations to all the Fintech winners: Best Investor Home Loan (PI 3-Year Fixed) UBank UHomeLoan Best P2P Personal Loan RateSetter 2 Year Personal Loan Best Personal Loan Pepper Money Unsecured Variable Personal Loan Best Personal Finance App Acorns Best Online Customer Service UBank Best Banking Innovation Spriggy Most Innovative Team Mario Hasanakos & Alex Badran, founders of Spriggy
