Digital advice: from robo revolution to enterprise evolution
As digital financial advice gains ever-growing traction among superannuation providers, the hype around “robo-advice” gives way to enterprise-level requirements. Decimal Software CEO Nic Pollock says B2C wealth management and enterprise-grade digital financial advice serve very different needs, and customers. Federal Treasurer Scott Morrison recently told a G20 conference in Germany of his plans to encourage more robo-adviser start-ups to launch in Australia. Undoubtedly he believed doing so would enhance opportunities for more Australians to gain access to financial advice and in turn provide better financial security and retirement outcomes. But his comments highlight a general lack of understanding of the differences between “robo-advisers” and the digital advice needs of the […]
Seeking bright Aussie fintechs to join ABCC delegation to UK
Five delegate places on fintech mission to London on offer to Australian startups and SMEs looking to grow and prosper internationally. The UK’s Department for International Trade (DIT) has partnered with the Australian British Chamber of Commerce (ABCC) to give five internationally-focused Australian startups and SMEs the chance to join a fintech trade mission to London. Successful applicants will participate in a tailored business programme from 19 – 21 April 2017, and receive financial support for the majority of flight and accommodation costs. They will join senior figures from the UK and Australia’s fintech ecosystem across industry and government. Delegates will have the opportunity to network and share ideas with […]
ASX targets ‘late 2017’ for blockchain decision
Ongoing negotiations with market participants about a potential blockchain replacement for the CHESS settlement system are likely to bear fruit later this year, says the ASX. Speaking at an ASX half-year result analyst briefing, chief executive Dominic Stevens said there is a high level of engagement in the post-trade sector about the proposed CHESS replacement. The ASX has an 8.5 per cent stake in US-based Digital Asset Holdings, which is working on developing a replacement for CHESS based on distributed ledger technology (DLT), also known as the ‘blockchain’. Mr Stevens said there has been a lot of engagement at the business committee level and the consultation process has seen a […]
PropertyShares taps Australian Dream
The Australian dream has always been of property. For generations Australians have pined and toiled, with the dream of one day owning their own home. The lure has been strong enough to build cities. When Canberra, the nation’s capital was built, the commonwealth government promised three bedroom red brick bungalows to attract workers to the public service. So it only made sense that when P2P arrived on Australia’s shores, it would go for property. “Australia has always had a strong love affair with property,” says Scott Price, founder of PropertyShares. “People were told from a very young age about the great Australian dream of owning your own home. The birth […]
Epictenet launches i-Commerce platform
By Ritesh Srivastava, Founder & CEO, Epictenet Imagine a journey where instead of looking for information & options someone guides you. The i-commerce Platform is an experience will get your thinking going, bring more innovation and enhance the current customer experience. As the world advances, increasingly towards digital every day and the customers crave to do more things on mobile, Epictenet have innovated and coined a new customer interface called i-commerce platform – providing a personalised experience to customers they have been used to in traditional branch environments and places in their hands, at the convenience, pace and device of their choice. i-commerce platform – is a […]
Auswide Bank is increasing equity stake in P2P lender MoneyPlace
Auswide Bank Ltd is increasing its equity stake in peer-to-peer lender MoneyPlace Holdings Pty Ltd. Today’s announcement means Auswide Bank will have a controlling interest of at least 51% in MoneyPlace with the prospect of increasing that interest up to 75% dependent on the final take up of other MoneyPlace shareholders in a capital raising initiative being undertaken by MoneyPlace. Auswide Bank acquired a 19.3% equity stake in MoneyPlace in January 2016 while also committing funding to the Melbourne-based P2P lender’s consumer lending program. Managing Director, Martin Barrett said Auswide Bank has been impressed with the platform, skills, capability and performance of MoneyPlace over the last 12 months. “Our funding […]
Crowd-sourced equity funding bill to pass Senate
Retail investors will soon be able to buy up to $10,000 of equity in their favourite business ideas, with “crowd-sourced funding” legislation set to pass the Senate with Greens support. The legislation will allow unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas, with a 48-hour cooling off period applying. “Crowd-sourced equity funding will offer a new funding option for small businesses,” said Treasurer Scott Morrison while introducing the […]
Fintech sector falling short on adviser-focused solutions
To the frustration of many Australian financial advisers, the fintech sector has not yet delivered effective tools for the financial planning industry. Most of the current activity in the sector is focused on offering solutions for individuals – and these offerings are struggling to convince consumers to pay directly for them. There is a clear unmet need in the adviser space. Wayne Robinson, InvestmentLink Chief Technology Officer, believes that the industry should be focused on meeting this unmet demand. He says it’s also the market that will be willing to pay for the right solution. “We think that advisers will be happy to pay for a platform that delivers what […]
