APAC Alternative Finance report shows impressive growth
Australia is second only to China in market volume. The alternative finance industry continues to thrive according to the 3rd Asia Pacific Region Alternative Finance Industry Report by KPMG and the Cambridge Centre for Alternative Finance (CCAF) released this week. The global fintech sector has seen $117 billion invested in the last year, with $28 billion invested in Asia Pacific alone. Across the region, over 100,000 small- to medium-sized enterprises (SMEs) used alternative finance in 2017 and SMEs accounted for 61% of all alternative finance volume. The Australian market was 2nd only to China for the 3rd year running, raising over $1.14 billion in 2017, an increase of 88% on […]
The Fourth Industrial Revolution built on blockchain and advanced with AI
Blockchain technology is so synonymous with cryptocurrencies, and especially Bitcoin that it is almost like the financial sector has usurped its potential. In times like these, where an investing bear market has befallen the cryptocurrency space, it is easy to get down on the revolutionary possibilities of blockchain technology. Since the original Blockchain, that is Bitcoin, emerged, there has been a considerable focus on transactional blockchains which have been at the forefront of the mainstream understanding of the technology. Bitcoin is often the layman’s first point of call with the stories of investing success stories obscuring the view of other possibilities. However, blockchain technology is moving along in an undercurrent […]
Nod closes $2m funding round to support platform growth
The multi-award-winning artificial intelligence platform, known simply as Nod, has confirmed it has successfully closed its over-subscribed pre-Series A round of AUD$2m. Nod was recently awarded a coveted spot on the KPMG H2 Ventures Fintech100 and has developed a patent pending algorithm that utilises artificial intelligence to create real-time Statements of Advice for Financial Advisers and Accountants. Whilst this is the space where they have chosen to first apply their technology, Co-Founder and CEO, Joel Robbie, says the platform has been developed to be industry agnostic: “We are really excited about the impact we are having on document completion times in the Financial Advice industry! The platform is having genuine […]
Royal commission – Fintechs here to help
Anyone tasked with building and protecting wealth for their investors need the tools to ensure they are acting in their clients’ best interest. Greater scrutiny will be placed on transparency of where and how an individual’s money is invested. Financial advisers, fund managers, superannuation trustees and others taking responsibility for managing client’s assets will be under the spotlight to demonstrate how investment decisions are being made and implemented. Technology-driven innovation in finance (fintech) has emerged to help investors and money managers make informed decisions when choosing investments. Fintech is a progressive resource intensely focused on accelerating innovation and transformation through the application of technology. By exploring collaborations between companies, financial […]
Practifi’s US expansion exceeds expectations
Sydney, Australia-based fintech provider, Practifi, has continued to experience exceptional growth over the 2018 calendar year, with their international expansion to the U.S. surpassing expectations on every measure. In describing the international response to Practifi, Chief Commercial Officer and Co-founder, Adrian Johnstone says, “Our upfront investment in market research and product design has paid huge dividends this year. Our Chicago office is now established, with the team growing rapidly to meet demand far in excess of our ambitious forecasts.” With clients spanning the major west coast, midwest and east coast financial centers, Practifi is already considering the location for its next US office. Global growth in other markets is also […]
‘We’re tech companies’: The neobanks’ advantage
A big advantage that “neobanks” have over the big four is that they are nimble and highly scalable technology companies focused on customer experience, according to the co-founder of Up. After hearing Stephen King from the Productivity Commission (PC) claim that challenger lenders do not have a realistic chance at competing with the major banks and will ultimately be “gobbled up” by them, Dominic Pym said the advantage that challengers such as his company Up, along with the likes of Volt and Xinja, have is that they are technology companies with a focus on improving customer experience and the ability to move and adapt fast. Speaking on a panel at […]
Goldfields Money forms strategic alliance with Ivy Koin
Australia’s new revolutionary digital bank, Goldfields Money (ASX:GMY) is pleased to announce a strategic partnership with Los Angeles-based Ivy Koin, a developer of blockchain-based solutions for financial institutions to validate and cater to compliance needs for fiat & digital currency business transactions. Under the agreement Goldfields Money & Ivy will be working closely together to commercialise the use of blockchain technology in banking to validate and legitimise digital currency to fiat transactions in the traditional banking framework. Goldfields Money has recently revamped its digital banking platform and has a modern mindset working to cater for the needs of technology savvy consumers. Ivy’s technology is a perfect solution to explore new […]
Nasdaq moves towards bitcoin futures, unphased by crypto carnage
When you’re searching for volatility, market gore might mean you’re heading in the right direction. “Will digital assets survive?” New York Stock Exchange chairman Jeffrey Sprecher quoted at the Consensus Invest conference last Thursday. “The unequivocal answer is yes… We’re kind of agnostic to price.” He was followed up by Intercontinental Exchange (ICE)-backed Bakkt CEO Kelly Loeffler, who reiterated the trading giant’s plan to release bitcoin futures contracts for more reliable price discovery. “The Bakkt futures contract will help Bitcoin traders establish a trusted price. Bitcoin now trades at different prices on different exchanges, many of which are unregulated,” she explained. Nasdaq is now reported to be making decisive moves […]
