Identitii partners with Trace Financial to simplify new financial message standards migration for SWIFT member banks
Identitii Limited (ASX:ID8), an Australian FinTech enabling the secure overlay of transaction level detail on top of financial messages using a private blockchain, has partnered with leading message transformation software provider Trace Financial Limited. The product partnership involves the integration of Trace Financial’s established message translation software, Transformer, with Identitii’s innovative overlay platform, Overlay+, to simplify the migration to new ISO 20022 financial message standards for financial business transactions. Headquartered in London, Trace Financial has technical expertise in SWIFT messaging, and has been providing software solutions to bank grade clients for over 30 years. Identitii will leverage Trace Financial’s sales network and conduct joint marketing activities for the adoption of […]
Why parents should start teaching their kids about money at an early age
How did you learn about money when you were a kid? Maybe your parents handed you a few dollars to swing by the grocery store for milk. After getting through the checkout line and carefully counting out the change, perhaps you stuffed the rest back into your pocket and headed back home. Today, teaching kids how to manage money is different. As technology around payments and money management has evolved, transactions are often no longer tangible. Cash is becoming less common and learning to become financially savvy is beginning to take a much different shape than in the past. From cash to V-bucks and in-app purchases This emergence of financial […]
British fintech players circling Aussie market ahead, Xero says
Savvy British fintech players could sweep into the Australian market en masse this year if the open banking regime kicks off in July, jostling with local start-ups and potentially kicking off a round of joint ventures or mergers and acquisitions. That’s the scenario painted by Ben Styles, general manager of financial services at ASX-listed Xero, who has been central to the Kiwi accounting software company’s engagement with open banking regimes in Britain and Australia. Open banking hit Britain’s financial services sector in January last year, giving the vibrant fintech scene there an 18-month head start on the similar regime set to launch in Australia on July 1, assuming the election […]
Frank Lab’s senior advisor Jasmine Koh interviews Gobbill CEO Shendon Ewans about the Federal Budget impact on Small Businesses and Startups
Key points: Bill payment automation company Gobbill is seeing more small businesses doing it tougher drawing on reserves to meet their payables. The 2019 Federal Budget may be good for some small businesses but certainly lacks investment in innovation. The increased instant asset tax write-off may help bricks and mortar type businesses but is unlikely to help high-tech innovative companies using scalable cloud processing and other subscription-based services. There should have been more support and a broader view of R&D as new fields and methods of engineering and scientific development have emerged and do not necessarily fit the traditional R&D models. A different lens should be applied to larger corporations […]
New technologies key driver of digital banking
Banks around the world are citing new technologies as having the biggest impact on the industry and not customer demands or regulation, according to a new survey. The survey by the Economist Intelligence Unit, conducted for Temenos, has revealed that retail banks believe new technologies are more important than customer demands and regulation for the first time in the survey’s six-year history. The Economist Intelligence Unit surveyed over 400 banking executives worldwide and put focus on how retail banks were incorporating technology for future customers. The survey highlighted new technology like AI, open APIs and the cloud as driving banks towards advanced data and analytics in developing compelling propositions and […]
Coinbase CEO Brian Armstrong: Cryptocurrency needs 3 things for mass adoption
Brian Armstrong, CEO of popular cryptocurrency exchange Coinbase and long-time Bitcoin proponent, has issued a list of what he believes cryptocurrency needs to accomplish in order to reach mass adoption. Speaking in 45-minute Ask Me Anything (AMA) session published to YouTube on April 2nd, the CEO outlined three things that are paramount to both crypto and Bitcoin growth: volatility, scalability and usability. While Armstrong answered a number of community-submitted questions, the first and most pressing appeared to be what the industry needed to achieve mass adoption–a breakthrough that many believe to be the most sustainable route for digital asset growth. According to Armstrong, adoption for the industry is largely being […]
Are we looking at a cashless future?
When was the last time you paid for something with a fat wad of notes or a handful of shrapnel? Even if you wanted to, you may not have had the option – according to the Commonwealth Bank, the number of Aussies making cash payments is shrinking, while the number of businesses going completely cashless is growing. Cashless payments are becoming more and more popular around Australia, with CBA finding that a contactless or “tap” payment is now the preferred payment method for more than 90 per cent of purchases. CBA also found that between January 2017 and January 2019, contactless payment transactions have grown by 140 per cent. A […]
Space tickets, gemstones and Gmail: ‘Biggest business you’ve never heard of’ behind $5.6 billion in deals
It’s used to buy and sell everything that’s “complex and expensive”, from boats and planes to space station tickets, gemstones and exotic animals. But despite processing more than $5.6 billion in deals, including the sale of some of the internet’s biggest domain names including Twitter, Gmail and Instagram, it’s the “biggest fintech you’ve never heard of”. Matt Barrie reckons they “should have added a few zeros” to the $10 million sale price of little-known US website Escrow.com when he snapped it up three years ago. Escrow.com, as the name suggests, provides online escrow services for e-commerce platforms by holding payment between buyer and seller until a transaction is completed. Its […]
