Prospa recognised in the Deloitte Technology Fast 50 Australia awards for Leadership
Prospa, Australia’s number one online small business lender, has ranked 5th for Leadership and 20th overall in the 2018 Deloitte Technology Fast 50 Australia Awards. The awards rank Australia’s fastest growing public or private technology companies based on their percentage revenue growth over the last three years (2016-18). To qualify, each company must have minimum cumulative revenues of $8m over the period. The Leadership category recognises those technology companies who have won a place in the Technology Fast 50 Australia list and whose strong track record of growth has generated cumulative operating revenues greater than $50 million. Beau Bertoli, joint CEO of Prospa said: “We’re delighted to be recognised as […]
How one fintech is changing the mortgage industry
Customers choosing home loans have traditionally either negotiated directly with banks or worked with a broker to secure the best loan that particular broker could find them. But with hundreds of lending products on the market and many brokers working with panels that limited them to a small subset of loans, consumers lacked the information to ensure they were getting the best rates and product features. Fintech Hashching has turned the process on its head by negotiating and de-branding a range of home loan products, which are then referred to brokers along with customer prospects. Because customers choose loans based on their attributes and aren’t told which organisation the loan […]
Fintech should make advice ‘enjoyable’
A software integration firm has highlighted how technology should be about making the client experience of advice more “enjoyable” as well being agile to constantly changing adviser needs. At a media roundtable in Sydney yesterday, YTML director Terri Ho said a lot of emotion is attached to financial advice, however it tends to become really dry and go down to the numbers. Further, she said that a lot of the time, trust is more important for the client and that it’s those emotional aspects that clients are looking for. “We have to make advice enjoyable. We have to make the experience of receiving advice enjoyable. And it’s certainly not enjoyable,” […]
Peppermint signs MOU with Blockchain platform
Peppermint Innovation Limited (ASX: PIL) announced it has executed a non binding Memorandum of Understanding with Vleppo to explore the delivery of a Blockchain based platform to empower banked and unbanked individuals to source loans secured by digital assets. Peppermint previously provided guidance to the market in its announcement dated 27th November 2017 that it was watching the development of Blockchain capabilities and plans. This MoU is in alignment with this announcement and affirms PIL’s commitment to exploring partnerships with leading edge technology companies operating in the Blockchain space. Peppermint’s Managing Director and CEO Chris Kain said: “As a progressive Fintech company, we are always assessing advances made within the […]
Lumi raises $31.5m to improve small business lending
Australian fintech company and alternative lender Lumi has announced it has raised $31.5 million in Series A funding as part of its plans to give small- and medium-sized enterprises easier access to finance. As a result of the funding, Lumi will become the first pre-revenue fintech business lender to offer a warehouse securitisation program in Australia. By combining its application programming interface (API) with traditional credit data and the applicant’s social impact, Lumi aims to streamline the loan application process for small business owners. Yanir Yakutiel, founder and CEO of Lumi, says the company is trying to solve the key issues of alternative lending for small businesses. “We saw a […]
Mint partners with Velocity Frequent Flyer
Australian-based Mint Payments (ASX: MNW) has partnered with Velocity Frequent Flyer, the frequent flyer program of Virgin Australia. Following last month’s launch of their “Rewarding Payments” brand platform, Mint has entered into a partnership with Velocity Frequent Flyer that enables merchants to earn Velocity Frequent Flyer Points on eligible transactions processed through Mint’s payment services. Mint Payments’ Co-founder & Group CEO, Alex Teoh, said, “Our partnership with Velocity has been launched in response to overwhelming feedback we’ve heard from merchants — that they just don’t see any meaningful value for the fees they’re charged by payment service providers”. “The partnership is an important part of our promise to merchants; it […]
Xinja live with SAP Cloud for banking
Xinja today announced that it is live on SAP Cloud for Banking, after a rapid three-month implementation. While this is a global first for SAP, it also allows Xinja to accelerate development of innovative solutions for customers to make banking as easy and engaging as possible. Xinja has implemented SAP Cloud for Banking which comprises: SAP S/4HANA Finance; SAP Banking (Loans and Deposits), SAP Payments Engine, running on SAP Cloud and managed by SAP Cloud Application Services. SAP Cloud for Banking is an easy to configure, open platform, that is agile, collaborative and simple to integrate. It allows for rapid innovation cycles and leverages the power of SAP HANA to […]
Satoshi vs. Bitcoin Jesus: Australian at centre of crypto name squabble
Australian Craig Wright, the self-proclaimed inventor of Bitcoin under the pseudonym Satoshi Nakamoto, is poised to win a fight that will likely lead to the creation of another version of Bitcoin Cash, the original offshoot of the biggest cryptocurrency. A group headed by Wright is expected to take control tomorrow of the world’s fourth-largest cryptocurrency following a software upgrade. A rival faction that disagrees on how to best expand has been trying to persuade the community of computer operators running the network to adopt their version. About 70 per cent of the so-called miners that process the transactions that keep the network afloat are signalling they support the version backed […]
