Investec funding for H2’s fintech accelerator backed by NSW government
Niche lender Investec has increased its funding facility for the fintech accelerator H2 Ventures by $4 million, in a deal that has been partially underwritten by the NSW government, which says it is willing to provide more guarantees to encourage venture capital funding. H2 Ventures says it remains committed to raising an unlisted, $30 million fintech investment fund this year, after it was forced to pull the ASX float of H2Ocean last October despite the backing of high-profile technology industry investors when it failed to raise minimum subscription levels. The unlisted version will invest in several of the 40 new fintech start-ups that will enter the H2 accelerator over the […]
FinTech: UK Vs Australia
by Matthew Parker, The MitchelLake Group Having recently moved from the UK to Australia, I have been excited to observe and experience first-hand some of the differences between the UK FinTech ecosystem and that of its Antipodean cousin. I do not, by any means, pretend to be an expert, but I have had the privilege of working with and alongside some of the most exciting FinTech businesses and individuals across multiple markets. Any observation I am able to draw comes from a place of passion and sincere enthusiasm as well as a helpful dose of experience. So without further ado, let’s compare and contrast. The UK hit its stride at […]
Neu Capital ready to disrupt mid-market fundraising
While Cyrus Church and Edward Jones were working for Royal Bank of Scotland in Sydney offloading corporate loan portfolios in the wake of the financial crisis, the opacity of fundraising for mid-market companies became starkly apparent. Church recalls large sales of RBS loans such as Royal North Shore Hospital and the Cross City Tunnel running smoothly as “they were clean processes, the universe of investors was known and the information quality was sound. But as soon as you delve into some of the smaller, mid-market companies, it was extremely clunky and manual. We thought: surely there is a way to use technology to make the process more efficient?” Inspired by […]
Hub24 completes fintech acquisition
Platform provider Hub24 has completed the acquisition of Agility, a start-up specialising in application, data exchange and technology services for the finance industry. The acquisition was first announced to the market in November 2016, at which time Hub24 said it had entered a binding agreement to acquire the business for $6 million. “Hub24 has developed a non-custody reporting solution that is fully integrated with its investment and superannuation platform,” the company said. “Agility’s services will complement Hub24’s solution and accelerate enhancements to support stockbrokers, as they increasingly transition into wealth managers.” The company said the acquisition would provide financial advisers using the Hub24 platform with access to “additional client management […]
How automation is shaping fintech plans
Digital innovation and partner collaboration are key. A new industry report calls for investment banks to take advantage of technological innovations by optimising outdated operating models, improving automation and undertaking a digital transformation. Australian consultants EY’s Capital Markets: building the investment bank of the future report reveals that, despite continued efforts to reduce costs, investment banks are becoming less efficient. These institutions remain reliant upon maintaining decades-old, complex and inflexible IT infrastructure. The report suggests banks can do more to enhance their business by harnessing fintech innovations. For example, over the short-term investment banks can develop robotic process automation (RPA) and advanced analytics to sort through large amounts of data. […]
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 […]
High-net-worth investors embracing robo-advice
Robo-advice platforms’ capacities are expected to continue growing in the coming year, according to Finovate, expanding their functionality to include broader wealth management functions and cater to high-net-worth customers. The “myriad” financial needs facing Millennials, coupled with increasing longevity risk confronting older investors, has driven change in the robo-advice space, Finovate research analyst David Penn said, with the improving abilities of such services now extending beyond “traditional boundaries”. “The growing capacity of robo-advisers to help manage other aspects of personal finance supports a more expansive view of wealth management and financial planning,” he said. “This includes everything from health care planning, insurance, even real estate, education and leisure.” As robo-advice […]
Cybersecurity takes prominence alongside Blockchain Technology in 2017
The new year, 2017 started with a bang. Bitcoin price surpassed its previous high by increasing beyond the $1100 mark. The popular cryptocurrency’s underlying blockchain technology and its applications in fintech and other sectors is expected to peak during the year as well. While Bitcoin and Blockchain continue to scale new heights, the Bitfinex hack, ransomware attacks and other security breaches aren’t forgotten. The massive DDoS attack that almost disrupted the internet is also fresh in everyone’s memory. After making it through an eventful year, Bitcoin companies, banking and financial institutions, governmental organizations and other businesses are increasing their focus towards cybersecurity. According to reports, the increasing importance towards cybersecurity […]
