Prospa becomes first online small business lender to complete review of loan terms with ASIC
Prospa is the first online small business lender to have undertaken a full review of its loan terms after consultation with ASIC. Prospa has agreed to certain recommendations from ASIC in relation to removing or amending some of its contract terms. Some of these terms have, historically, not been relied upon, and other terms were amended to clarify or reflect existing policies. Prospa notes that the amendments agreed with ASIC do not have any material impact on the company financially or operationally. Prospa’s COO Ben Lamb said: “We’re always looking for ways to improve finance outcomes for small business owners. As the first non-bank lender to complete its review, we […]
Singapore crypto exchange KuCoin set to expand after $3m Bitcoin Australia deal
One of the world’s largest cryptocurrency exchanges, KuCoin, has invested in local exchange Bitcoin Australia and formed a new joint venture which will see the Singaporean exchange expand locally. The company has invested almost $3 million into Bitcoin Australia, which intends to use the funding to embark on its own aggressive international expansion, as well as to help KuCoin enter the local market. It has previously raised capital from Dominet Venture Partners. Bitcoin Australia chief executive Rupert Hackett told The Australian Financial Review the businesses had clear synergies, with KuCoin targeting sophisticated investors, while Bitcoin Australia aimed to make cryptocurrency trading possible for the mass market. Despite Bitcoin and other […]
Stone & Chalk: The Marketplace for FinTechs Breaking the Mould
Fintech has continued to be one of the dominant focus areas for innovation globally in 2018 and has well and truly established itself as the fastest growing sector in the financial services industry worldwide. As bold new solutions spring up from startups, the industry has seen a massive shift in shaking up the way traditional financial services operate forever. In 2015, Stone & Chalk was born to support the growth of the highest quality fintech startups across Australia. It now has two main innovation hubs in Sydney and Melbourne. Today, Stone & Chalk is home to Australasia’s leading independent fintech hub for startups, scaleups, industry associations and investors. Through Stone […]
Australian Fintech companies do it again in this year’s Anthill Magazine Smart100 2018
Once again the Australian Fintech industry has been well represented in this year’s Anthill Magazine Smart100 2018. Congratulations to the all the Australian Fintech companies who made the Smart100 list for 2018: Trade Ledger Practice Ignition eBroker Link4 For the full list of Anthill Magazine Smart100 2018 winners, please check them out here.
5th Annual FinTech Summit 2018: The Year of The Challenger and Neo-Banks!
5th Annual FinTech Summit 2018 – This is the Year of The Challenger and Neo-Banks! This year will see the launch of a number of ‘challenger’ and ‘neo-banks’ in Australia who will take on the Big End of Town. Remember – banks think they own the financial services sector because they have the customers and the distribution – the branch networks, and the (thousands of) financial advisors. Here’s the problem – all the new customers, the millennials, don’t trust the banks, or their advisors, and we haven’t yet heard the final recommendations of the Hayne Royal Commission – will there be criminal prosecutions? (Free Tip: It’s very hard to own […]
UK Tech Rocketship Awards take off in Australia and New Zealand
The UK’s Tech Rocketship Awards offer Australian and New Zealand technology scale-ups a new launch-pad for their expansion to the UK. On the hunt for successful Australasian technology scale-ups, the UK Department for International Trade (DIT) has launched its Tech Rocketship Awards in Australia and New Zealand. The Tech Rocketship Awards are open to established Australian and New Zealand scale-ups who deliver innovative, technology-led solutions across a wide spectrum of industries and are ready to internationalise. The Awards will help 8 winners gain exposure, expand their global networks and expedite the set-up of their UK operations through a paid-for, personalised trip to the UK in early 2019. So far, over […]
New partnership sets out to educate the SMSF community in cryptocurrency investments
Cointree one of Australia’s leading cryptocurrency exchanges has partnered up with My SMSF, a specialist provider for property and niche assets. The partnership aims to deliver clarity for people wanting to invest their super in cryptocurrencies. Cointree is one of Australia’s fastest growing digital currency exchanges with now over 60,000 members. Through their community, affiliates and partners, Cointree continues to see a growing interest in investment opportunities in cryptocurrency using a members Self Managed Super Fund (SMSF). “Since our announcement of entering the SMSF space, we have gained a lot of interest from our members and the general public wanting to invest into cryptocurrency using their super,” says Shane Stevenson, […]
Irish fintech Priviti launches in Sydney as Australia prepares for Open Banking and the Consumer Data Right
As Australia prepares for its new Open Banking standards and the Consumer Data Right, Priviti, the global fintech company, is helping banks get ready to comply with new legislation and empower consumers with greater control over how their personal data is shared. Its extensive experience with global data protection laws such as PSD2 and GDPR means Priviti has seen the paradigm shift in the way financial organisations and individuals view their data, and how their systems need to change, explains Dermot McCann, Priviti’s Head of APAC. “Every day a bank is potentially engaging in new activities that could impair their compliance, particularly now in this new era of Australian Open […]
