Some investors see bitcoin better than gold: Morgan Stanley
Bitcoin’s meteoric rise is leading some investors to argue that bitcoin is a better hedge against inflation and turmoil than gold, according to Morgan Stanley. Tom Price, a London-based equity strategist, said he’s been fielding more cryptocurrency questions after prices recently soared past $US4,000 ($5046) a bitcoin, a fivefold increase from November 2016. Both bitcoin and gold offer similar benefits as a store of value, such as being fungible, durable, portable, divisible and scarce, but it’s too soon to call bitcoin a superior investment, he says. “Over millenia, gold has demonstrated its ability to endure and preserve value under all circumstances,” Price said in an Aug. 14 report. “By contrast, […]
Government to strengthen money laundering rules, regulate bitcoin
The government will strengthen money laundering laws, including bringing bitcoin providers under the government’s financial intelligence unit, after the fresh scandal at Commonwealth Bank. The government said a coming bill would be the first stage of reforms to strengthen the country’s Anti-Money Laundering And Counter Terrorism Financing Act. “The threat of serious financial crime is constantly evolving, as new technologies emerge and criminals seek to nefariously exploit them. These measures ensure there is nowhere for criminals to hide,” Minister of Justice Michael Keenan said, without specifying when the legislation would be introduced. The bill will also aim to bolster the investigative and enforcement powers of the financial intelligence agency AUSTRAC. […]
CUA joins fintech partnership with Pivotus, says will help develop tech more cheaply and quickly
Australia’s biggest credit union CUA is partnering with overseas lenders to develop banking technology, saying the move will help them innovate more quickly and cheaply. The move from Brisbane-based CUA is the latest example of how banks are adjusting to technological change. Some are taking stakes in online lenders, for example, while branches are under pressure as customers increasingly use mobile phones for banking. CUA chief executive Rob Goudswaard said the deal with US-based Pivotus Innovation would represent a “significant” investment. “We see that the future of banking is going to be … contactless,” Mr Goudswaard said, highlighting the use of smartphones. No solid ideas had emerged yet but Mr […]
Australian consumers should expect benefits as seen overseas in light of APRA’s proposal to ease barriers to enter banking sector
Temenos, the software specialist for banking and finance, welcomes Australian Prudential Regulation Authority’s (APRA) proposed revisions to the licensing framework for authorised deposit-taking institutions (ADIs) to make it easier for applicants to navigate the ADI licensing process. According to Ross Mallace, Head of Cloud Services at Temenos Australia, “We believe that this move from APRA is a great framework for driving innovation and a competitive marketplace, something we have witnessed and support with our global community of clients. “In Australia, we’re already seeing a groundswell of activity in the startup bank space. In the past, the barriers of time and cost of building the technology to establish a bank meant […]
Retirement fintech makes senior appointment
A financial advice start-up founded by former Challenger executive Paul Rogan has appointed a chief customer officer. Joining Retirement Essentials in the new role is Antoinette Tyrrell. She joins a growing team to lead the ‘direct to consumer’ marketing strategy including brand building, designing the member experience and being responsible for the customer growth plan. The self-described retirement fintech aims to “make advice more affordable and accessible to all Australians, not just the wealthy.” Prior to joining Retirement Essentials, Tyrrell held senior executive roles in consumer marketing and business strategy in the fast-moving consumer goods (FMCG) and telecommunications industries across Asia, Africa and South Pacific working for Coca-Cola and Vodafone. […]
Australian FinTech Launches Australia’s Only Dedicated FinTech Jobs Platform – Australian FinTech Jobs
The team behind the highly successful Australian FinTech website have soft-launched their FinTech employment marketplace platform, Australian FinTech Jobs. Founder and CEO, Cameron Dart, says AustralianFinTechJobs.com.au has been born on the back of the highly successful Australian FinTech website and growing demand from the local FinTech community to have a dedicated employment platform for the sector. AustralianFinTechJobs.com.au is Australia’s only dedicated platform for FinTech companies and Recruiters to promote FinTech, financial technology, financial services, banking, legal and IT employment opportunities in Australia. “Australian FinTech have built a new jobs startup for fintechs and startups about startups, fintechs and jobs” “When people think of ‘FinTech’ in relation to employment, they might […]
NSW startups head to heart of Israeli innovation
Ten NSW fintech and cyber security startups are headed to the epicentre of Israel’s startup ecosystem next month for a ten-day global innovation masterclass. Minister for Innovation Matt Kean said the final startups (listed below) now had a unique opportunity to harness the Austrade Landing Pad in Tel Aviv, after a competitive application process. “NSW has some incredible startup talent, particularly in the fintech and cyber security sectors, and this is a fantastic opportunity to showcase that talent on a global stage,” Mr Kean said. “The opportunity for the state’s best startups to visit Tel Aviv and learn from some of the world’s top innovators is absolutely the chance of […]
SelfWealth, winners of Software Innovation at the Australian Business Awards second year running
SelfWealth Ltd has been recognised as an ABA100 Winner in The Australian Business Awards 2017 for Software Innovation. The Awards, now in their twelfth year, are an annual all-encompassing awards program which recognises organisations that demonstrate the core values of business innovation, product innovation, technological achievement and employee engagement via a set of comprehensive award categories. The award recognises SelfWealth’s achievements in the research and development of SelfWealth Premium and SelfWealth TRADING. SelfWealth is a community of investors partnering to achieve one common goal – greater returns. We allow members to crowd source investment information; by tracking the moves of top investors our members can make more informed investment decisions […]
