Australia joins the tech train with AI and Blockchain
Australia is currently seeing the first manifestations and ramifications of two of the business world’s key technologies: blockchain and artificial intelligence (AI). Both could fundamentally change how financial and professional operations are conducted in Australia. Currently, blockchain technologies are being explored through research and start-ups looking to implement the purely digital ledger. The Commonwealth Scientific and Industrial Research Organisation (CSIRO), the Australian government’s federal agency for scientific investigation, released a report last month exploring how blockchain could support the country, along with the risks it presents. In addition, in June, Melbourne hosted the Annual blockchain summit, while the newly formed Blockchain Association of Australia finished its first meeting on July […]
Bitcoin falls below $US2000 amid fight between miners and developers
Bitcoin fell below $US2000 for the first time since May amid anxiety its dominant status is under threat. As enthusiasts consider adopting competing updates to the blockchain technology that underpins the exchange method by the end of July, it has raised the possibility of the cryptocurrency splitting in two. Bitcoin has lost about a third of its value since peaking at about $US3000 last month. Calls for a revamp of the software come as exchanges struggled to keep up with rising volumes while the price almost tripled this year. Bitcoin isn’t the only one struggling as the two competing camps — miners and developers — are facing off over how […]
Crowdfunding platform Equitise to offer access to IPOs
Equity crowdfunding platform Equitise is now offering retail and sophisticated investors access to initial public offerings, as the platform also prepares for an influx of deals on the back of the first phase of the crowd-sourced equity funding legislation being enacted in September. The move into IPOs puts Equitise in competition with OnMarket Bookbuilds, which has been operating in the space since 2013, but Equitise co-founder Chris Gilbert believes they can co-exist. “There is space for two players in the market and the platforms operate very differently. We have the diversification to private equity as well, which will keep being a big part of what we do,” he said. “There’s […]
Stockspot founder Chris Brycki’s money is on robo-advice
Chris Brycki is the man behind Stockspot, one of Australia’s first companies to offer what has come to be known as “robo-advice”. Stockspot recently made headlines after Graham Tuckwell, the Australian tycoon behind London-based ETF Securities became an investor. Brycki first came to the market’s attention in 1999 when as a schoolboy he became one of the youngest winners of a stock competition. How does robo-advice actually work and how is it different to seeing a regular adviser? The most important thing when investing is getting your asset allocation right. Not so much picking stocks or when you should be getting in or out of the market. Working out what […]
How fintech will change the way business operates in Australia
Automated data management solutions such as AutoEntry are disrupting the Australian finance scene by simplifying accounts preparation for accountants and bookkeepers. Launched last year with over 25,000 businesses set up on the platform worldwide, AutoEntry captures and analyses scanned and photographed purchase and sales invoices, receipts, bank and card statements, automating data entry into accounting solutions such as Xero, QuickBooks, MYOB and Reckon. It helps users to access their financial records remotely, and upload paper documents such as bills invoices and receipts at their convenience via a mobile app. Its founder and CEO Brendan Woods offers his view on how the growing industry will shape the way business is conducted […]
Local start-up, Stake beats US giant Robinhood to bring Australians free share trading
Stake have thrown the the Australian investment landscape into disarray by offering users simple and intuitive access to US equities, all at the lowest brokerage rates possible….$0…free. zilcho. Yes, the race to zero is over. US broker, Robinhood has over 61,000 Australians on its waiting list for zero commission trading, but an Australian start-up, Stake has beaten the Google backed venture to the line. Starting August 2017, Stake’s brokerage on trades will go to $0. Zero.stake.com.au This means Australians will: ● Invest globally more simply and affordably than the can locally. ● No longer have to invest in Banks, Miners or supermarkets ● Power the new world with their capital. […]
Fintech players winning with disappointed advisers
Newer advice technology providers have defeated their more established competitors in securing the top spot for adviser platform satisfaction, despite industry-wide disappointment in current tech options. According to the latest Investment Trends Planner Technology Report, newer platforms are gaining momentum in the industry and threatening more established players. CFS FirstChoice and BT Wrap are the two most widely used platforms among planners however newer platforms such as Netwealth, HUB24 and BT Panorama are steadily extending their market share, the research showed. In the InvestmentLink research Netwealth and HUB24 both came in as the top platforms in terms of overall adviser satisfaction for this year. CFS FirstChoice came in second, BT […]
Peer-to-peer lending remains unfamiliar for borrowers and investors
IT’S one of the fastest-growing financial products in Australia but two-thirds of us still have no idea what peer-to-peer lending is. New research by Finder.com.au has found despite the sector growing from one to eight lenders since it launched in Australia in 2012, 65 per cent of consumers don’t know about it and women are less likely than men to understand and use it. Peer-to-peer providers such as SocietyOne, Direct Money and RateSetter are fintech companies that link investors with borrowers using online platforms, typically offering better interest rates than people get from the banks. “Generally P2P providers may have fewer funds to spend on marketing,” Finder spokeswoman Bessie Hassan […]
