Does your FinTech company feature on the Australian FinTech Directory?
Over the past 3 years, the team here at Australian FinTech have built up the No.1 website for FinTech companies in Australia to be showcased to the world. We do this through the Australian FinTech Directory which can be found on our site here. The Directory features over 550 FinTechs operating here in Australia. It’s a long way from the beginning when the first 60 companies were listed and we thought ‘there might be about 100 in total’…. If you’re company is not featured on the Australian FinTech Directory, please let us know. And if your logo has changed, you have a new CEO, or would like to update your […]
Should The Reserve Bank of Australia Issue a Digital Currency?
During a recent Australian Business Economists forum, the Head of Payments Policy Department for the Reserve Bank of Australia, Tony Richards, had a lot to share on cryptocurrencies and distributed ledger technology in the Reserve Bank’s perspective. Of particular interest was whether the bank might consider issuing a digital version of the Australian Dollar. According to Richards, Bitcoin and many other cryptocurrencies were largely impressive and admirable, but flaws in their design coupled with limited usage within Australia made them unnecessary and hence there was no need for the bank to issue a new digital version of the Australian Dollar. The Bank’s Approach To Cryptocurrencies Australia can boast of having […]
Open banking rules fuel financial planning shake-up
The financial planning industry is poised for a shake-up as the government’s plan to make it easier for customers to access banking data drives new technology that will allow advisers to respond in real-time to the changing financial circumstances of their clients. Open banking will also change the financial advice industry by allowing advisers to tailor their offering to individuals. Grow Super, part owned by IOOF, and Basiq, part owned by Westpac Banking Corp and National Australia Bank, have worked together to build the software that provides alerts to advisers about when to call their clients. The product will be white-labelled for advisory groups to enhance the quality of customer […]
AFL’s Ted Richards and the human side of robo-investing
There is a lot of talk about the entry of ‘robo advisers’ into the financial advice market. Revelations by the banking royal commission have accelerated calls for technology to provide the answer to the broadening trust deficit and intractable problem of advice being too expensive for the average investor. However, despite these tailwinds, the take up of digital advice in Australia has been relatively modest. This compares to the United States where a significant proportion of investors are embracing technology-enabled advice solutions, such as Betterment and Wealthfront. Home-grown Australian providers, such as Clover and Stockspot, have made inroads with their low cost, automated investment offerings. The challenge remains for consumers […]
Australia’s plans to embrace cryptocurrencies through progressive laws
When cryptocurrencies were designed, the idea of the government or its financial institutions meddling into the affairs of the digital currency were not envisioned. Indeed, cryptocurrencies like Bitcoin were designed to give users the freedom to transact without central regulation. It was probably not anticipated that these currencies would gain so much interest around the world. But since that has happened, the regulatory authorities have found it hard to stay away from the cryptos. Recent news has indicated that governments around the world are keen on easing the tension between the traditional perception institutions have had on cryptocurrencies. Some of the issues that are at the fore currently are how […]
More jobs for Australians as Silicon Valley Fintech opens APAC headquarters in Victoria
An announcement made by the Victoria Government focused on Melbourne being the new Asia-Pacific Headquarters of a Silicon Valley fintech innovator. Victoria’s growing fintech sector will be boosted as Nomis Solutions, a Silicon Valley fintech innovator, has announced that Melbourne will be the location of their Asia-Pacific Headquarters. This move will be creating 50 jobs in over five years. Nomis Solutions’ cutting-edge approach to big data as well as its personalised customer solutions and market analysis are being used by more than 10,000 bankers worldwide. The support of the Andrews Labor Government has secured Nomis Solutions’ base of operations in Melbourne. The Victoria Government is growing the state’s reputation as […]
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 […]
