Compare Your Life’s iFace Technology is embraced by users
Melbourne based firm Save U has partnered with Cloud technology provider iFace (Compare Your Life) to start consolidating the need for multiple software applications. Save U’s CEO, Stephen Clarkson is impressed with the efficiencies the software has brought to his business. ‘Our decision to purchase was made in the initial presentation, as the quality of the software and the utilisation of the most up to date technology made the choice incredibly easy to make. We had been searching for a solution for 3 years, and this ticked all the boxes that we were looking for. The migration from our legacy product was seamless and after 15 minutes of […]
VCs target Australian blockchain and cryptocurrency firms with $44m in funds
Start-ups with designs on making it big in the fast-growing world of blockchain and cryptocurrencies will be targeted by two new funds focusing on the Australian market, with almost $44 million to spend. Apollo Capital, founded by venture capital fund Dominent Venture Partners’ Domenic Carosa and Holger Arians and Wall Street veteran Henrik Andersson, is attempting to raise a minimum of $30 million and will specialise in crypto asset investments, which it defines as digital currencies, blockchain-based assets and initial coin offerings. At the same time an $80 million global blockchain development fund, NEM.io Foundation, is expanding to Australia, with its global director of partnerships and strategic alliances, Jason Lee, […]
10 Australian Fintech companies in the 2017 Fintech100
The Fintech100 represents the most innovative companies, creating products and services at the juncture of technology and financial services who are seeking to disrupt the existing processes and products that dominate the marketplace, with fintech companies from 29 countries featuring in this year’s 100. Congratulations to the Australian Fintech companies who made the H2 Ventures KPMG 2017 Fintech100 Top 50: 24. Prospa 37. zipMoney 44. AfterPay Touch And congratulations to the following Australian Fintech companies who made the Fintech100 Emerging 50: Airwallex Cover Genius Hyper Anna Macrovue MoneyMe Tic:Toc Valiant
Australia publishes draft laws for relaxed fintech regulation
The Australian government published draft laws on Tuesday that would let financial technology companies operate without a full licence, a measure it said would encourage innovation without compromising existing levels of consumer protection. The draft laws would let companies test “a broad scope of activities…without the need to meet all the existing licensing requirements of the Australian Securities and Investments Commission,” Treasurer Scott Morrison said in a statement, referring to the corporate regulator. Financial technology companies would be able to test products involving non-cash payments, crowdfunding, consumer credit and provide financial advice on pension funds, life insurance and domestic and international securities. The draft laws, which Morrison has opened for […]
Lakeba’s disruption potential attracts global investor
Sydney tech firm Lakeba Group has welcomed a heavyweight global investor to its board. The man responsible for taking global investment manager T. Rowe Price global, Todd Ruppert, is now part of the team. Lakeba has positioned itself as a start-up studio focused on the development and rapid commercialisation of digital solutions and the company’s co-founder and chief executive, Giuseppe Porcelli, said Mr Ruppert’s international experience would be a key asset. “Todd’s real-time global insights and his experience with start-ups around the world in smart securities, on-demand insurance and crowd-funding will be invaluable as Lakeba grows,” he told The Australian. Mr Ruppert, who was chief executive of T. Rowe Price […]
Evari’s success is all about having its head in the cloud
Australian business insurance is about to be turned on its head with Insurtech, Evari, set to create waves with its integrated, online insurance platform that makes obtaining and managing insurance quick and easy for small business. Evari’s cloud-based insurance platform is the first of its kind in the world, with no other provider offering fully digital, tailored insurance focussed at the small business sector, starting with cafes, restaurants and small retailers. Evari CEO, Mr Daniel Fogarty, says the insurance platform is a win-win for small business. ‘By integrating the insurance platform with a business’s cloud accounting software, we are alleviating the pain points with regard to how they obtain their […]
Four areas Australia should focus on to lead in the coming fintech boom
If Australia wants to lead the next wave of fintech innovation, it needs the next generation of start-ups to be successful. Although the federal government and the corporate sector are on board, it will take more than general support for Australia’s fintech scene to mature competitively. Sydney start-up hub Stone and Chalk’s CEO Alex Scandurra believes the Australian fintech industry is already maturing past apps and gadgets, but the “valley of death” – the time before a start-up is cashflow positive – still looms large in an industry riddled with failed ventures. This is one reason the focus for Stone and Chalk has grown into more of a “fintech ecosystem”, […]
Industry newcomer, Huddle, tackling insurance fraud with Australian-first technology
Insurance industry newcomer, Huddle, is taking significant steps to tackle fraud within the sector while dramatically increasing the speed at which claims are approved and paid. The Insurance Council of Australia currently estimates the cost of fraud is up to $2bn per year – most of which gets passed on to the end consumer. With the insurance industry largely offline – in the form of paper forms and applications – the opportunity for potential fraudsters to slip through the cracks is large, and damaging for the whole industry. Huddle co-founders, Jason Wilby and Jonathan Buck, saw an opportunity to use technology to disrupt the traditional insurance industry, reduce fraud, and […]
