Online lender Prospa delays float 30 minutes to listing
The sharemarket float of online lender Prospa has been postponed about half an hour before the planned listing, after the corporate watchdog wanted further details of its small business loan contracts. Prospa and its joint lead managers – investment banks UBS and Macquarie – said the 48-hour delay was because it was “seeking to clarify queries raised by ASIC yesterday in relation to Prospa’s small business loan terms,” as part of a wider review. “Prospa was first contacted yesterday by ASIC in relation to its industry-wide review of small business lending – bank and non-bank. The review covers a range of topics,” a Prospa spokeswoman said. “We take our legal […]
Wisr launches employee financial wellness solution: Wisr @ Work
Neo lender Wisr has launched a financial wellness program aimed at helping businesses combat one of the biggest causes of workplace stress, personal financial difficulties. Called Wisr @ Work, this program allows businesses to provide staff with online tools, education materials and debt reduction applications to help employees take control of their money and improve financial wellness. According to a Wisr survey of 250 Australians, it was found 48% of employees had experienced stress in the workplace because of their personal financial situation. Almost 65% said they had experienced feelings of anxiety or panic at work because of monetary issues, whilst 43% said it impacted their productivity and 35% had […]
Mortgage group’s “mortgage hell” billboard above CBA
Online mortgage startup HashChing is advertising with a billboard above a Commonwealth Bank of Australia (CBA) branch. The home loan marketplace has launched a campaign against the big banks, which includes this billboard in the Melbourne CBD. The slogan reads, “Our brokers will go to mortgage hell, so you don’t have to”. Mandeep Sodhi, CEO of HashChing, said the new billboard made light of the fact that applying for a mortgage or refinancing an existing one can be quite an onerous experience. He added, “By positioning this billboard above a CBA branch, we’re encouraging the 80% of borrowers who are currently with a big four bank to find a better […]
ASIC Chair James Shipton wants Australia to lead the world in Regtech
In a speech delivered to an Australian Senate Committee meeting last week, James Shipton, Chair of the Australian Securities and Investments Commission (ASIC), told the members Australia can lead the way when it comes to Regtech adoption. Australia has a vibrant Fintech ecosystem that has benefited from a fairly supportive government and an active Fintech community. In the future, Regtech will play a very important role in the acceleration of broader Fintech adoption. Shipton says ASIC is encouraging the adoption of regulatory technology (Regtech) solutions in the financial sector. “ASIC believes Australia can position itself as a world leader in the development, and adoption, of Regtech solutions, and we will […]
Virtual currency sales jump in 2018
But results skewed by two big token sales. Virtual currency sales ballooned to US$9.1 billion ($11.9 billion) so far this year, exceeding the US$6.6 billion total for all of 2017, new numbers show. But the monthly trend actually showed a slowdown if the two biggest offerings are excluded. Digital technology startups around the world have raised funds by selling cryptocurrencies, or tokens, that sidestep banks or venture capital firms as intermediaries. Financial technology provider Autonomous NEXT reported the US$9.1 billion figure, noting that the total includes token sale offerings of Telegram, a messaging service founded by Russia-born entrepreneurs Pavel and Nikolai Durov in 2013, and Block.one’s EOS currency. Telegram raised […]
Macquarie slips $20m into Stocard’s mobile wallet
Mobile wallet firm Stocard has landed $20 million from Macquarie Capital, with follow-on financing from original investors Shortcut, Alstin, Rocketship, HTGF and Engelhorn. Stocard co-founder and chief executive Bjorn Goss said the company would use the funds to launch a mobile payment functionality, recruit 40 employees across engineering, sales and marketing, and expand into new markets starting with the opening of its Paris office this week, then Toronto in the coming weeks. “It’s no longer a question that wallets will go mobile; the question is around how to execute the transition with the consumer’s best experience in mind,” he said. “Digital will reshape the shopping process and experience, as mobile […]
Innovative fintechs: it’s time to step forward for the 2018 Fintech100
Nominations are now open for the 2018 KPMG & H2 Ventures Fintech100, which recognizes leading fintech innovators from around the globe. The 2018 Fintech100 will be announced in October 2018. Visit fintechinnovators.com by Friday, 3 August 2018 and nominate your company, or any fintech you think should be considered for the Fintech100 The Fintech100, available at http://fintechinnovators.com, is compiled by fintech investment firm, H2 Ventures in collaboration with KPMG’s Global Fintech practice and includes both the leading 50 established fintechs, and the most intriguing 50 “emerging stars.” How to nominate and the judging process Nominations for the Fintech100 can be made at www.fintechinnovators.com website by Friday, 3 August 2018. The […]
Gobbill inks deal with iSignthis for card processing and eKYC
Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX:ISX/FRA:TA8), the world leading RegTech for identity verification and payment services, is pleased to announce that it has signed an agreement with an artificial intelligence (AI) fintech bill payment automation startup called Gobbill™. iSignthis is supporting innovative companies like Gobbill by providing global identity verification and payment solutions. The partnership with iSignthis supports Gobbill’s international expansion plans utilising their identity verification services and transactional banking facilities to clear payments. “Partnering with iSignthis is a strategic and important milestone for Gobbill. It enables our customers to pay any bill for billers that do not accept card payments or various card […]
