What Every Investor Should Know Before Buying Cryptocurrency
by Mary Ann Callahan If you are here, then you have probably grown curious enough to find out more about the next big investment opportunity everyone has been screaming about. Techies call cryptocurrency the money of the future or digital gold, and skeptics refer to it as a bubble that will burst anytime soon or the biggest digital scam ever. Needless to say, beyond the initial noise that surrounded the global rise of cryptocurrencies, there seems to be a growing interest and increasing curiosity about the potentials of these digital coins. New investors are attracted by the fact that cryptocurrency has managed to turn many who have been bold enough […]
How to invest in Artificial Intelligence
What is Artificial Intelligence? Artificial Intelligence or “AI” generally refers to the ability of machines to exhibit human-like intelligence using computer systems that can learn, reason, discover meaning, perceive their environment, learn from experience, and interact – ultimately solving problems without the use of hand-coded software containing detailed instructions Impact of Artificial Intelligence AI promises to have an enormous impact on the global economy. PwC estimates that artificial intelligence could add some US$15.7 trillion to global GDP by 2030. Revenues generated by AI is estimated to have a compound annual growth rate (CAGR) of 54.4% over the next 5 years, which is more than twice the growth rate of other […]
EML Payments acquires Irish fintech to corner EU market
EML Payments has acquired 74.9 per cent of Irish fintech Perfectcard DAC (Perfectcard) for AUD$9.5 million. Perfectcard is an authorised eMoney institution providing incentive and corporate expense solutions regulated by the Irish Central Bank. Australian listed payments solutions provider EML expects Perfectcard to generate earnings of $400,000-600,000 in FY19 after integration costs. The Irish regulator first needs to approve EML as a majority shareholder before the acquisition can go through, but EML expects the approval to be granted in the coming months. Notwithstanding the approval process, EML says it will consolidate Perfectcard into its financial results from 4 July 2018. EML says the acquisition of Perfectcard will allow the listed […]
Neo-lender Wisr announces record loan growth
Neo-lender Wisr more than doubled personal loan originations in the second-half of the financial year after a strong Q4, the company announced today. Loan origination value in H2FY18 rose by 136% on the previous six months, whilst the number of new Wisr customers climbed 118% during the same period. The result follows the company’s largest single quarter in loan growth – with a 66% increase in loan origination value and 40% in loan origination volume during Q4 compared to Q3FY18. It is the second successive quarter that Wisr has achieved record loan origination growth. According to the 2017 Asia Pacific Alternative Finance Industry Report by Cambridge University and Monash University, […]
Australia needs state-backed SME investment: ombudsman
The small business ombudsman has released a long-awaited report on SME access to capital, and issued a range of recommendations, including the establishment of government-backed SME investment fund. Releasing the Affordable Capital for SME Growth report, Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), said that Australian lenders consider SME loans to be high-risk, which has unwanted flow-on effects. “In Australia, lenders consider SMEs high-risk and offer capital with restrictive terms and conditions, at high interest rates and demand bricks and mortar as security – which is usually the family home,” Ms Carnell said. “Unfortunately, the unintended consequences of the financial services royal commission for SMEs might […]
Non-banks are the future of banking
The future of banking is in the hands of non-banks, says specialist lender Liberty. Non-banks, by nature, are “active, nimble, innovative and relevant”, allowing them to lead the competition, rather than be threatened by big banks. Non-banks provide a variety of solutions such as home loans, car loans, personal loans and business loans, as well as custom lending for those that need it. But as the financial world welcomes more and more technology, and increased regulation drives up costs, it leaves many to wonder how non-banks will respond to these changes. Asked about how non-banks will adapt to the future, group sales manager at Liberty, John Mohnacheff, laughed: “How are […]
BGL announces integration with fintech firm
SMSF software provider BGL Corporate Solutions has integrated with a financial software firm that provides research tools for financial advisers. BGL managing director Ron Lesh said the integration will enable users of AdviserLogic to authorise the software firm to extract data from Simple Fund 360. “AdviserLogic has a suite of software products built to assist financial advisers, licensees, brokers, corporate authorised representatives, software providers and AFSLs holder to prosper,” said Mr Lesh. AdviserLogic chief executive Daniel Gara said AdviserLogic is committed to its direct data feed product DataLogic, which has now grown to include dozens of platforms, fund managers, stock brokers and insurers. To read more, please click on […]
How the rich invest: Afterpay’s Nicholas Molnar makes a cool $200 million
The tearaway market success of Afterpay Touch Group has however supercharged the fortunes of its 28-year-old co-founder Nicholas Molnar. Afterpay is fast becoming the go-to payments platform for Millennial shoppers who want to own products immediately but pay for them in instalments. The instalment service is growing rapidly. It has more than 1.8 million customers and is growing at roughly 3300 new customers per day. There are now 14,000 retailers using the service; it will soon be available for buying Jetstar flights and in May announced it was transacting in the US after cutting a deal with retail powerhouse Urban Outfitters. The potential for growth in the US has been […]
