Growth, diversification, consolidation: AltFi Summit 2018 leaders offer their predictions
Fintech leaders from across the globe are converging for the AltFi Australasia Summit in April, to discuss the most urgent issues and trends impacting growth, diversification, and consolidation in the global alternative finance industry in 2018. Keynotes, panellists and sponsors will include alternative lending firms, digital banks, industry influencers and regulatory representatives, such as OnDeck, KPMG, Ratesetter, NowFinance, Equifax, Macquarie Capital, NAB, Moula, MoneyPlace, Credible, BGA Digital, Moneycatcha, Creditease, Othera, Liberty Home Loans, uno Home Loans, and FinTech Australia. It will be the third year the Summit has run in Sydney, amassing each yeah an ever-larger following of loyal attendees. Event owner, Glenn Hodgeman, believes momentum has built so strongly […]
The Global Money Transfer Industry: A Case For Collaboration
Evolving with disruption The money transfer industry globally has entered a period of significant change, spearheaded by the evolution of mobile technology and growing demand for digital tools that help us manage our money faster and smarter. Digital disruptors such as peer-to-peer lending services, mobile apps and blockchain have shifted the market, offering borderless accounts combined with speed and transparency. Powering these disruptors are new technologies like artificial intelligence, big data and robotics, which are changing the customer experience; providing unprecedented insights into customer behaviour that help deliver a more seamless money transfer experience. For incumbent players in the market, this new reality presents an opportunity. Businesses should consider leveraging […]
Xinja launches card and app, gets set to challenge Australia’s banking market
Xinja, which is building the first Australian, independent, 100% digital ‘neobank’, has launched its prepaid travel and everyday spending card and its app. The card is a prepaid, tap-and-go card, with no ATM fees here or overseas, and low international transaction/FX fees that make it a very competitive travel card. The app allows users to lock the card instantly, if it is lost, and is being designed to let users track their spending, with more features to be rolled out over the next few months. The card is being sent out to Xinja’s waitlist, made up of consumers who have signed up to be part of the development of a […]
Novatti Group (ASX:NOV) 1H18 results & outlook
Novatti Group Limited (ASX:NOV) CEO, Peter Cook talks about the company’s 1H18 results, the launch of its Australian remittance service, the integration of basis2 and progress towards its goal of becoming an ADI (authorised deposit-taking institution). Rachael Jones: Hello I’m Rachael Jones for the Finance News Network. Joining me from the Novatti Group (ASX:NOV) is CEO, Peter Cook. Peter, welcome to the Network. Peter Cook: Rachael good afternoon. Rachael Jones: Firstly could we just start with an introduction to your company? Peter Cook: Novatti listed two years ago, January 2016. Our market capitalisation is about $40 million at the moment and actually, our top 20 shareholders have about 80 per […]
Peppermint sets sights on valuable remittance business for swift acquisition
Fintech company and aspirational banking disruptor Peppermint Innovation (ASX: PIL) has signed an exclusive option to acquire international remittance business AusRemit Pty Ltd, currently trading as RemitWisely. The “particularly attractive” acquisition price in comparison to similar transactions elsewhere in the fintech sector was cited as a key reason for Peppermint to proceed with the deal at the current time. RemitWisely is currently progressing an “aggressive growth strategy” to add new remittance “corridors” as part of its remittances service offering to more than 200 countries globally. Peppermint has obtained exclusive rights to acquire the entirety of AusRemit for a purchase price comprising of shares and cash, on a 50/50 split. The […]
International transfer provider OFX launches developer portal with international payments API
ASX listed foreign currency exchange company OFX (formerly OzForex) today announced the launch of a developer portal, designed to provide the global developer community with turn-key access to the company’s new Payments API, with access to a 24/7 support team. OFX continues to lead the Australian Fintech industry by launching an International Payments API on a self-serve developer platform. Skander Malcolm, CEO and Managing Director at OFX, explained why the portal demonstrates the brand’s commitment to continuous advancement in the tech, product and payments space; “As the world moves to a place where automation, scale and efficiency are a basic need, the OFX team are striving to build products which […]
Smartpay secures fintech connection with Alipay
Dual-listed payments facilitator Smartpay (ASX: SMP) has signed a cornerstone agreement with Alipay, China’s largest payments provider with around 520 million active users and clearing around $1.7 trillion per year in transactions. The deal brings together the largest online payments provider in China and the largest independently-owned EFTPOS provider in Australia — a deal that could serve as a watershed moment, opening the door for other similar agreements amongst smaller players in the near future. The deal also means that Australian consumers will obtain a far wider range of payment and money transfer options than before. Smartpay said that “harnessing this reach will both boost the merchant’s revenues and benefit […]
Australian payments innovator Verrency partners with social media donation platform Goodworld to increase charitable giving worldwide
Social payments charity platform Goodworld and Australian payments innovator Verrency announced a partnership today to bring a charitable component to everyday financial transactions around the globe. The partnership will combine Goodworld’s service with Verrency’s banking payment services to create a new Corporate Social Responsibility offering aimed at major banks. The joint offering will enable bank’s customers to ‘set and forget’ a ‘round-up’ of their debit and credit card transactions to the nearest selected amount (i.e., $1, $5 etc) and to donate the ‘round-up’ amount directly to their preferred charity. Customers then receive real-time reinforcement via mobile notifications from their bank’s mobile app of their donation, along with regular updates of […]
