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 […]
SendGold platform brings real assets to digital currency
SendGold, a Sydney based fintech company with an asset-based peer-to-peer digital money platform, has launched an equity crowdfunding campaign to raise $2 million. SendGold is hyper-liquid, hyper-accessible, and based on physical gold, one of history’s most reliable assets. SendGold is an alternative to bank money as it allows its customers to save, invest, gift and pay using gold. The SendGold technology platform is highly scalable and its business model addresses some of the largest markets in the world, including not only gold, but payments, gaming and rewards, targeting Asia’s fast-growing and increasingly wealthy middle class. SendGold CEO and co-founder Jodi Stanton said, “We believe the world’s current money systems are […]
Afterpay to raise equity for UK acquisition
Payments company Afterpay will launch a $110 million equity raising. It is understood the company has hired brokers Citi, Bell Potter and Wilsons to manage the offer. The deal is expected to be underwritten by Citi at a floor price of $15.75 a share, with the deal to be done via a placement. Funds raised would be used to buy a UK payments company ClearPay’s customers and footprint, which would launch Afterpay into the UK. It is understood Highbury Partnership advised Afterpay on the acquisition. To read more, please click on the link below… Source: Afterpay to raise equity for UK acquisition | afr.com
Digital natives love the blockchain because they trust it
The younger ‘digital native’ generation may turn out to be blockchain’s driving force in years to come, as they grow to distrust centralised institutions and systems. That’s according to Dentacoin Foundation’s communications manager Donika Kraeva, who believes that there is a direct correlation between Generation Z’s lack of trust and high adoption of crypto assets and blockchain. Kraeva says that blockchain is a safe, reliable, and efficient way of storing value without any involvement from third parties. Apparently digital natives’ don’t like interference, especially from governments and banks. Digital trust is also more important than ever. Blockchain, Kraeva adds, provides digital scarcity and digital trust worldwide. Blockchain also provides online […]
