Cryptocurrency regulation in Australia: Pains and Gains
We start this analysis with an unusual positive: cryptocurrency regulation in Australia is moving in the right direction, and the latest legislative developments regarding cryptocurrencies should be welcomed by the general public as a step in the right direction. Offering protection to crypto consumers and investors, and providing legal certainty to blockchain-related businesses – without extinguishing the fire of blockchain innovation and adoption – is an incredibly hard thing to do, and the Australian authorities seem to be very active and willing to achieve this balance. The Land of Plenty may not be the biggest player in the game, but it sure is a significant one. Let us take a […]
ANZ’s OnePath lists OneCare on HUB24
ANZ’s OnePath has made its OneCare life insurance available through HUB24, providing advisers and their clients with a greater selection of insurance products. OneCare offers advisers a comprehensive range of insurance cover that can be tailored for clients’ needs throughout their different stages. For the past two years, OnePath has won The Consumer Choice Awards Best Turnaround Time Award and Claims Team of the Year, supporting its best in class commitment to claims service and support. According to ANZ’s Head of Life Insurance Gerard Kerr, OneCare’s flexible structure and easy accessibility provides advisers and their clients with a true lifetime insurance solution. “With OneCare now available on the HUB24 platform, […]
Could Bitcoin replace Credit Cards?
Growing competition in the retail sector – and the possibility that the digital currency could help merchants lower transaction fees that cut into profit margins — could induce them to replace credit cards with Bitcoin. “From a merchant perspective, Bitcoin has the advantage of not having large fees from credit card companies that cut into profits,” writes Ian DeMartino, in The Bitcoin Guidebook: How To Obtain, Invest, And Spend The World’s First Decentralized Cryptocurrency. “Credit card companies typically charge between three to four percent for each transaction, a fee the merchants normally take on themselves. For merchants with small profit margins, that fee could be up half or more of […]
Using tech to drive client goals
The financial planning industry is in a state of transformation following revelations from the Banking Royal Commission and reviews by the Australian Securities and Investments Commission (ASIC). Fees-for-no-service and regulatory negligence will be rightly replaced by goals-based, client-centric advice, and technology will work as a driver. Tech has already infiltrated the industry, evidenced by large Australian planning firms and fund managers integrating their services with platforms and apps, and simplifying claims processes through online applications. And, while industry experts note the entire backbone of financial planning is archaic technology, they’re confident the world of application programming interfaces (APIs) will completely reform the advice and practice management processes. Investment Trends research […]
‘Overwhelming’ response to World Bank’s blockchain bond: CBA
The world’s first public bond created and managed using only blockchain had support from seven investors, Commonwealth Bank of Australia the sole lead manager of the deal said on Friday, helping raise A$110 million ($80.48 million) for the World Bank. Commonwealth Bank (CBA) executive general manager James Wall said that the deal, designed to test how the technology might improve decades-old bond sales practices, had exceeded expectations and interest had been “overwhelming.” The American fund Northern Trust, three Australian state governments, local pension fund First State Super, and CBA were the investors in the deal, which is being viewed as an initial step in moving bond sales away from manual […]
Millennials, not baby boomers, are the future for digital wealth platforms
A new study examining consumer preferences has found that robo-advice and automated investment management services are overwhelmingly more popular with younger investors. Millennials, those currently in their 20s and mid-30s, are three times more likely to use automated investment services such as robo-advice compared to baby boomers, according to research by Crealogix. The study of 1,200 UK consumers commissioned by Crealogix, which provides digital banking solutions, found younger generational groups, in particular millennials, are substantially more open to automated financial advice and investment management when compared to more mature age groups. Just 23 per cent of baby boomers, those born between 1946 and 1964, are open to receiving a digital […]
Aussie Fintech Airwallex founders win Entrepreneur of the Year
The founders of an Australian Fintech company, Airwallex were named Entrepreneur of the Year in the EY South Regional Awards. Founders CEO Jack Zhang and COO Lucy Lui both won the Fintech category and will progress to the nationals where the winners will move on to the international round. The event was hosted by EY and the winners were chosen by an independent panel of prominent business leaders and entrepreneurs. This year, the board acknowledged the entrepreneurial spirit, innovation, financial performance, national and global impact, strategic direction, and integrity of Airwallex founders. To read more, please click on the link below… Source: Aussie Fintech Airwallex Founders Win Entrepreneur of […]
Coca-Cola Amatil invests in Doshii’s future
Doshii is extremely pleased to announce that it has received the first investment made by Coca-Cola Amatil’s corporate venture programme, Amatil X which is a multimillion-dollar program set up to identify and invest in innovative growth opportunities outside of Amatil’s core beverages business. Chris Sullivan, Coca-Cola Amatil Group Director of Partners & Growth, said Amatil X’s minority share investment will support Doshii to grow and expedite their planned expansion into the Asia-Pacific region and South Africa. “Amatil X was launched in April to explore opportunities for growth outside of our core business and beyond innovation in beverages. This includes investing in companies like Doshii, which is using an innovative, scalable […]
