Bitcoin finds a bottom as risk aversion grips global markets
What’s supposed to be the most volatile asset in the universe is proving to be a bastion of stability compared with wild swings and carnage in global equities this week. Bitcoin clawed its way back from the four-month low of $US5922 it touched on Tuesday, rebounding almost 45 per cent to $US8500. The S&P 500 Index and the Dow Jones Industrial Average both fell more than 5 per cent this week, wiping out gains for the year. Emerging markets stocks and currencies also plunged, while shorter maturity US Treasuries climbed as investors fled from risky assets to safe-havens. Bitcoin’s supporters are quick to extol the cryptocurrency’ virtues as an asset […]
Asia-Pacific fintech market to reach US$72 billion by 2020, finds Frost & Sullivan
Active support and initiatives by financial regulators such as the Monetary Authority of Singapore, Bank Negara Malaysia and Bank Indonesia has enabled the Asia-Pacific Fintech ecosystem to grow significantly in 2017. New innovations are expected to radically transform the way consumers shop, pay perform banking transactions and purchase insurance. The wave of new Fintech technologies is also changing customer behaviour and interactions today. Frost & Sullivan presented its annual Fintech Outlook at The Swissôtel The Stamford in Singapore on 8 February. The event was attended by over 70 senior management and C-suite executives, marking the start of an exciting year ahead for the industry. The Fintech industry in the Asia-Pacific […]
Australian FinTech partners with Spotcap Australia
Australian FinTech is delighted to announce our official partnership with Spotcap Australia, in a movement to continue fostering a thriving environment for fintech. This new partnership is a step towards growing the support network and shared knowledge between Australian fintech businesses. Spotcap provides Australian SMEs with unsecured business loans from $10k to $400k for up to 24 months, with flexible repayment schedules. As an innovative online lender, Spotcap has developed a proprietary credit algorithm that leverages real-time business data, allowing them to provide funds quickly and with convenience. Spotcap’s fast and seamless online application process reflects their purpose of making finance effortless, taking less than five minutes to […]
The fintech revolution: who now assesses your personal loan application?
In an age of rapid technological disruption, Aussie banking practices are constantly changing and there is now a piece of technology that could be responsible for assessing your creditworthiness when you apply for a personal loan. In an age of rapid technological disruption, Aussie banking practices are constantly changing and there is now a piece of technology that could be responsible for assessing your creditworthiness when you apply for a personal loan. Personal loan provider, Harmoney, kicked off the new year by teaming up with DataRobot, an automated machine learning platform, in the hopes of improving both the speed and accuracy of its application process. “With our deployment of DataRobot, […]
Scott Morrison says data sharing regime will ‘revolutionise’ banking
Treasurer Scott Morrison said new rules to give bank customers control over their data will disrupt the major banks’ “stronghold” on information and encourage a new wave of fintech innovation. He said stringent security and governance rules along with safeguards to protect customer privacy would be be at the core of the federal government’s regime, due to start on July 1, 2019. Mr Morrison will release a report by King & Wood Mallesons partner Scott Farrell on Friday that will guide the Turnbull government’s approach “to giving consumers greater access to, and control over, their data”. The so-called “open banking” regime will allow customers, including small businesses, to instruct their […]
Link4 Australia gears up for international expansion
Adelaide FinTech company Link4 recently launched their new office space on Waymouth Street to give the company more space to grow as they expand internationally this year. Renew Adelaide and the Adelaide City Council hosted a launched in the new space to celebrate Link4’s achievements so far and to support the company for their exciting year ahead. In this new space, the Link4 team has already grown to strengthen their support and management teams, offering a well-rounded experience for their clients. “Our team is set to double in four months when we expand our product to the United Kingdom and New Zealand,” said Robin Sands, CEO and Co-Founder of Link4 […]
Australians essentially are trading with one hand behind their back
The CEO of a fintech start-up has said Australian traders need to consider exposure to international markets, arguing that those who do so are “several steps ahead”. Speaking to Nest Egg, the CEO of the self-described “shop for shares”, Stake’s Matt Leibowitz, said while it always comes down to strategy, Australian investors who limit themselves to local opportunities tend to be “playing with one hand tied behind your back”. Reflecting on this week’s markets volatility, he said traders need to have the tools to be able to profit from opportunities like down-turns, whether traders predict such down-turns to be a fluctuation or a trend. “Whether you want to trade long, […]
Tether: How a cryptocurrency you’ve never heard of could tank the price of Bitcoin
Bitcoin is crashing, but you probably already knew that. However, if you haven’t spent the past few weeks desperately refreshing CoinMarketCap (or one of the other sites that tracks the value of cryptocurrencies) you may have missed a shocking drop that’s erased much of the value built up over 2017. Tether It’s still unclear exactly what’s causing the price of Bitcoin to drop so rapidly (currently hovering at around $8000, down from $21,500 a month ago). Of course, it’s no secret that the value of cryptocurrencies can be volatile, but recent reports suggest that one particular currency could be responsible for artificially driving up the price of Bitcoin, leading up […]
