The business case for blockchain is often bigger than one organisation, says ASX CIO
Developing a business case for blockchain is inherently more challenging than other technology projects, because the cumulative value of the distributed network technology is often broader than one individual organisation. That’s the view of Dan Chesterman, CIO of the ASX, which is currently replacing its aging Clearing House Electronic Subregister System (CHESS) with a blockchain solution. During a Q&A session at Gartner Symposium on the Gold Coast yesterday, David Furlonger, distinguished VP Analyst Gartner, cited a lack of a viable business case as a key challenge for advancing blockchain proofs of concept to “full blown deployment and development”. Chesterman said there is a much harder piece, which involves “building the […]
Finastra launches Open Banking Readiness Index in Asia Pacific
Finastra today launched its Open Banking Readiness Index, providing for the first time a framework for banks in the Asia-Pacific region to assess their capabilities and benchmark readiness against peers in the race towards Open Banking. Unveiled during Hong Kong Fintech Week, the research reveals that 84% of the top 146 banks in Asia Pacific are considering collaborating with external partners to enhance their Open Banking capabilities between 2018 and 2020. Developed in partnership with IDC Financial Insights, the Finastra Open Banking Readiness Index measures banks across five dimensions – Adoption of APIs, Fintech/Third-Party Ecosystem, State of Data-based Transformation, Data Monetization, and State of Innovation. It is based on interviews […]
Neobank pioneer Brett King joins Xinja
Xinja, which is building a 100% independent digital bank, or ‘neobank’ for mobile, is adding significant global expertise to its organisation with the announcement that Brett King will act as a permanent advisor to the Board, and help guide Xinja’s strategic direction. Brett King founded neobank Moven in 2011, which launched the world’s first mobile, downloadable bank account. He is widely considered the most influential expert on retail banking innovation globally. Mr King was an advisor to the Obama White House, the US Federal Reserve and the Office of the Comptroller of the Currency on the future of banking in the United States. Mr King said: “I have been working […]
Peppermint to receive $1.5m via placement to strategic Fintech investor Smidge Digital Unit Trust
Peppermint Innovation Ltd (ASX: PIL) announce continued strategic and funding support from Smidge Digital Unit Trust (SDUT) with a further investment into Peppermint of $1.5 million. The investment was transacted via a share placement of 60,000,000 shares to SDUT at 2.5 cents per share and represents a 32% premium to PIL’s last traded price of 1.7 cents. The funds will be used to continue to accelerate the roll-out of the Company’s Bizmoto agent network in the Philippines as well as the development of a number of enterprise capabilities in micro finance and international remittance business opportunities. They will also advance work on innovative fintech products and technology platform services (to […]
The fintech startup jobs Australian expats are returning home for
Expatriate Australians are returning home to roles in the local fintech industry. The 2018 EY FinTech Australia Census, released in Melbourne today, says many who have been in the industry since its inception talk of the increase in interest from expats. This return of global talent brings international financial services and fintech experience back into the local market. It also helps locals connect to influencers and business leaders in international markets, a major benefit to local fintechs seeking offshore expansion. Most fintechs report difficulties attracting qualified or suitable talent including engineering/software expertise (77%), design and user experience (36%, up from 24% last year) and sales (33%, although down from 41% […]
Aussie fintech startup building an investment platform for rapidly growing global retire early movement
Whether you’re an intern, executive or somewhere in between, everyone wants the option of not having to work, the sooner the better for most. While the end goal is easy to picture, the path to get there seems very complicated, or even imaginary. Housing affordability, negative gearing, royal commissions and fund returns are topical stresses for older Australians. A bigger issue is younger generations not building savings in a world of credit and higher discretionary spending. Younger people work as hard as past generations but have different relationships with. Bad financial discipline results in declining happiness as financial pressure builds and is passed on to future generations. But, according to […]
Sibos 2018 – The Rise of FinTech
FinTech comes of age in Australia at Sibos 2018. As Sibos 2018 comes to a close and the worlds biggest players in banking head home the event can be considered a huge success, especially for FinTech. Sibos is the worlds premiere financial services event and what an event it is. 7000 banking and financial services professionals from across the globe gathered. With Money 20;20 taking place in Vegas at the same time the turn out was incredible. Australian FinTech partnered with Tier One People to cover the four day event. A dedicated Fintech exhibition, The Discovery Zone drew huge crowds. Innotribe, presented the worlds foremost experts on Blockchain, AI, Quanrum Computing and […]
IRESS releases automated personal advice solution and announces implementation with WA Super
IRESS has today announced a new automated personal advice solution allowing super funds to service members wanting superannuation advice digitally. The multi-advice, multi-channel solution, drawing on information within the fund registry, allows members to set their retirement objectives, review projections and then make choices to optimise their retirement outcomes. Members are provided with a statement of personal advice and can choose to action the recommendations using the solution and monitor progress. Members can also receive automated personal advice for wealth protection, savings and debt management. WA Super has become the first superannuation fund to implement the solution to deliver a personal advice service for retirement planning through its online member […]
