Max ID launches Australian-first digital technology that provides ‘safe harbour’ identity verification for property transactions in less than 10 minutes.
Max ID, an Australian Fintech facilitator and RegTech specialist, has today publicly launched a technology solution that it believes will bring a broad range of industry players a step closer to their aim of delivering simple, efficient and inexpensive same-day ‘safe harbour’ identity verification for mortgages and property services transactions. Financial institutions and non-bank mortgage lenders have long been endeavouring to provide intra-day, unconditional home loan approvals. There are a number of hurdles to achieving that outcome in Australia, including the requirement to conduct a face-to-face and in-person interview with the borrower to meet regulatory requirements. Until now that requirement has created a conflict between delivering regulatory ‘safe harbour’ outcomes, […]
ASX pushes back the start date for its blockchain
ASX has pushed back the “go live” date for its blockchain to clear and settle the Australian equities market by around six months, after market participants expressed concerns about meeting an ambitious timeline given the complexity of the technological change. Market players used a consultation process to express “a strong interest in better understanding the potential benefits that a DLT [distributed ledger technology]-based system can offer”, ASX said in a new “scope and implementation plan” for its replacement of the CHESS system. Brokers and investors want as much time as possible to get their heads around the technology, and to determine what investment spending will be required to connect with […]
Cryptocurrency behind Great Keppel Island’s $300 million resurrection
There was a time when Great Keppel Island was sold as the ideal place to go and “get wrecked”, a party island at the gateway to the Great Barrier Reef. It then faded into disrepair and then into memory. Now an ambitious cryptocurrency consortium plans to resurrect it as a high-tech wonderland including a luxury resort, private villas and apartments, a golf course, retail outlets and a marina in what is being sold as the world’s largest cryptocurrency-backed property deal. If all goes to plan, they boast, when the development is complete Great Keppel will become the world’s largest island cryptocurrency micro-economy, a project that could bring the new digital […]
Australia to trial a SWIFT-er cross-border payments service
SWIFT, the organization providing messaging and standards frameworks to financial institutions, will start trialing its new real-time cross-border payments service in the Asia Pacific region, initially focusing on inbound payments to Australia. With the new instant global payments innovation (gpi) service, banks can improve customer experience by providing faster P2P remittances and SME trade settlement. The trial will initially include banks from Australia, China, Singapore, and Thailand, using the New Payments Platform (NPP). NPP is Australia’s new real-time payments system which went live earlier this year. Although the trial is currently being run on NPP, the service is designed to scale and integrate with real-time systems around the region. According […]
A fireside chat with Evan Wong, CEO of Australia’s leading Regtech – Checkbox.ai
Evan Wong is CEO and Co-founder of Checkbox. At only 25 he already has two successful startups under his belt. Checkbox is a Regtech solution that enables business people to build software without any sort of coding. Checkbox is to business applications what WordPress is to Web Design. Used by lawyers, accountants and bankers Checkbox is considered the ideal tool to fix the Regulatory and Compliance issues facing many financial institutions. How did you become an Entrepreneur? Evan: I founded my first business when I was 17, an education business called Hero Education. Until that point I’d never shown any signs that I was going to be an entrepreneur. Looking […]
Brisbane entrepreneurs make buying bitcoin easy
Digital Surge has removed all of the complications of other exchanges, making the purchase and trade of Bitcoin as simple as internet banking.
Local FinTech Look Who’s Charging eyes offshore expansion
Local FinTech start-up Look Who’s Charging has been selected as one of only 24 companies from around the globe to present their business on the centre stage at Money 2020 in Las Vegas this coming October. Look Who’s Charging is a Data as a Service business and one of the first companies globally to solve the problem of unrecognisable transactions. Look Who’s Charging links the often-random narratives from debit and credit card transactions to in-depth merchant details. NAB integrated Look Who’s Charging into their digital applications earlier this year. In the past 12 months Look Who’s Charging has helped to de-mystify over 15 million transactions many of which would have […]
FinClear captures 50% of market with Dion acquisition
FinClear, the Australian clearing, settlement and wealth management technology and service provider, has captured approx. 50% of the Australian retail clearing and settlement market with a transformational acquisition of the Australian assets of financial technology company Dion Global. Managing Director David Ferrall said the acquisition, which will complete in September, would support the firm’s rapid growth and provide efficiencies of scale. “We’ve seen a tremendous response locally since we launched last year – we have grown our stockbroking client base from zero to 20 clients in less than 12 months and doubled our resources with teams in Sydney, Melbourne, Queensland and now Perth,” he said. “Because we manage the entire […]
