Insiders say they think ethereum is a better investment than bitcoin
When it comes to cryptocurrency investments, there’s plenty of room for debate over which digital currency is the best bet. But for one group of investors, the choice is clear: According to new data from New York-based law firm Foley and Lardner, a group of insiders say that among cryptocurrencies like bitcoin, Dash, and Monero, they believe ethereum to be the best bet. Foley and Lardner surveyed a mix of investors and business executives about trends relating to cryptocurrencies. Among the questions they asked was which digital currency they believed to be the best investment opportunity. The most popular pick? Ethereum, the three-year-old blockchain technology that’s been largely used as […]
WealthO2 passes half a billion FUA
WealthO2, the fintech for financial advisers, has surpassed half a billion in funds under administration, an increase of more than 60% in six months.
AFL’s Ted Richards and the human side of robo-investing
There is a lot of talk about the entry of ‘robo advisers’ into the financial advice market. Revelations by the banking royal commission have accelerated calls for technology to provide the answer to the broadening trust deficit and intractable problem of advice being too expensive for the average investor. However, despite these tailwinds, the take up of digital advice in Australia has been relatively modest. This compares to the United States where a significant proportion of investors are embracing technology-enabled advice solutions, such as Betterment and Wealthfront. Home-grown Australian providers, such as Clover and Stockspot, have made inroads with their low cost, automated investment offerings. The challenge remains for consumers […]
What Every Investor Should Know Before Buying Cryptocurrency
by Mary Ann Callahan If you are here, then you have probably grown curious enough to find out more about the next big investment opportunity everyone has been screaming about. Techies call cryptocurrency the money of the future or digital gold, and skeptics refer to it as a bubble that will burst anytime soon or the biggest digital scam ever. Needless to say, beyond the initial noise that surrounded the global rise of cryptocurrencies, there seems to be a growing interest and increasing curiosity about the potentials of these digital coins. New investors are attracted by the fact that cryptocurrency has managed to turn many who have been bold enough […]
How to invest in Artificial Intelligence
What is Artificial Intelligence? Artificial Intelligence or “AI” generally refers to the ability of machines to exhibit human-like intelligence using computer systems that can learn, reason, discover meaning, perceive their environment, learn from experience, and interact – ultimately solving problems without the use of hand-coded software containing detailed instructions Impact of Artificial Intelligence AI promises to have an enormous impact on the global economy. PwC estimates that artificial intelligence could add some US$15.7 trillion to global GDP by 2030. Revenues generated by AI is estimated to have a compound annual growth rate (CAGR) of 54.4% over the next 5 years, which is more than twice the growth rate of other […]
EML Payments acquires Irish fintech to corner EU market
EML Payments has acquired 74.9 per cent of Irish fintech Perfectcard DAC (Perfectcard) for AUD$9.5 million. Perfectcard is an authorised eMoney institution providing incentive and corporate expense solutions regulated by the Irish Central Bank. Australian listed payments solutions provider EML expects Perfectcard to generate earnings of $400,000-600,000 in FY19 after integration costs. The Irish regulator first needs to approve EML as a majority shareholder before the acquisition can go through, but EML expects the approval to be granted in the coming months. Notwithstanding the approval process, EML says it will consolidate Perfectcard into its financial results from 4 July 2018. EML says the acquisition of Perfectcard will allow the listed […]
Australia needs state-backed SME investment: ombudsman
The small business ombudsman has released a long-awaited report on SME access to capital, and issued a range of recommendations, including the establishment of government-backed SME investment fund. Releasing the Affordable Capital for SME Growth report, Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), said that Australian lenders consider SME loans to be high-risk, which has unwanted flow-on effects. “In Australia, lenders consider SMEs high-risk and offer capital with restrictive terms and conditions, at high interest rates and demand bricks and mortar as security – which is usually the family home,” Ms Carnell said. “Unfortunately, the unintended consequences of the financial services royal commission for SMEs might […]
How the rich invest: Afterpay’s Nicholas Molnar makes a cool $200 million
The tearaway market success of Afterpay Touch Group has however supercharged the fortunes of its 28-year-old co-founder Nicholas Molnar. Afterpay is fast becoming the go-to payments platform for Millennial shoppers who want to own products immediately but pay for them in instalments. The instalment service is growing rapidly. It has more than 1.8 million customers and is growing at roughly 3300 new customers per day. There are now 14,000 retailers using the service; it will soon be available for buying Jetstar flights and in May announced it was transacting in the US after cutting a deal with retail powerhouse Urban Outfitters. The potential for growth in the US has been […]
