2 Upcoming FinTech IPOs
For decades financial services in numerous flavours were the exclusive province of the banking sector. To get a loan, pay bills, apply for credit cards, or transfer money, consumers and corporations alike turned to banks. It is hard to imagine the rise of the Internet is little more than 20 years old and the rise of smartphones is even more recent – less than 10 years. As a direct result new industries are emerging, among them FinTech, or financial technology. FinTech companies offer alternatives to the banks and as such stand ready to massively disrupt the way financial services are delivered. Direct peer-to-peer lending and crowdfunding are changing the way […]
1st Annual Australian FinTech Awards 2016
Congratulations to the winners of the 1st Annual Australian FinTech Awards 2016! FINTECH INNOVATION IN PAYMENTS – Afterpay FINTECH INNOVATION IN WEALTH MANAGEMENT (ROBO ADVICE) – Owners Advisory by Macquarie Group FINTECH INNOVATION IN LENDING (FOR FINTECH) – SocietyOne BEST INNOVATION IN CYBER-SECURITY & ANTI-FRAUD – Entersoft BEST FINTECH COMMUNICATIONS CAMPAIGN – Acorns BEST RESEARCH IN FINTECH – Panalitix BEST FINTECH-BANK COLLABORATION OF THE YEAR – OnDeck Capital’s partnership with CBA FINTECH LEADER OF THE YEAR – Daniel Foggo of RateSetter FEMALE FINTECH LEADER OF THE YEAR – Loretta Joseph of the Sydney Stock Exchange FINTECH CTO/CIO OF THE YEAR – Glenn Riddell of RateSetter INSURE-TECH STARTUP OF THE YEAR – […]
Australia’s Small Businesses receive boost to their funding with new credit tool
Australia’s leading peer-to-peer business lending platform, ThinCats Australia, has boosted small businesses’ opportunities for funding through the launch of a new credit assessment tool that makes finance applications easier. Created by local company Othera, the credit assessment tool allows small companies to prequalify for loans on the ThinCats platform, as well as allowing its 300 peer-to-peer lenders make more informed business lending decisions. ThinCats now has access to Othera’s Lender Dashboard to run credit assessments on loans applied for by small businesses on the platform. According to John Pellew, Chief Executive Officer and Founder of Othera, the typical prequalification process takes lenders anywhere from two to four […]
Australian FinTech Company Profile – RateSetter
COMPANY: RateSetter FINTECH SECTOR: Peer-to-Peer Lending WEBSITE: www.RateSetter.com.au CONTACT: [email protected] PHONE: 1300 768 710 FOUNDED: 2012 FOUNDER(S) / CEO: Daniel Foggo – CEO DESCRIPTION: RateSetter provide a transparent peer-to-peer marketplace where lenders and borrowers, empowered by technology, can transact together and share the benefits. KEY STATISTICS: Value of loans Funded: $43,807,549 Number of Loans facilitated: 2,578 Average Loan Value: $16,993 Average Loan Term: 38 months Average Borrower Age: 39 Average Borrower Income: $90,513 Male – Female: 69% – 31% Number of People registered: 61,215 Applications under consideration: $4,186,959 Enquiries in past 30 days: […]
The Invoice Market appoints Head of National Sales and Referral Partnerships
Peer-to-peer alternative financier The Invoice Market (tim) has strengthened its senior executive team with the strategic appointment of Bernie Kelly as Head of National Sales and Referral Partnerships. Kelly comes to tim with an impressive track record of establishing financial services businesses and designing financial product solutions around the globe. Most recently he was Managing Director, International Operations for PolicyLink. In this position, Kelly grew the business, captured significant market share, and successfully negotiated exclusive strategic alliances with international asset managers, investment banks and global life companies. In commenting on the appointment, tim CEO, Angus Sedgwick said “I’ve known and worked with Bernie over the past 25 years. […]
Turn debts into income
PROFITING from other people’s debts has always been popular way to make money, and investors seeking income are being given more choice than ever before. While interest rates wallow at record lows and are tipped to fall further, a new breed of peer-to-peer — or marketplace — lenders is gaining ground and other income funds are multiplying. Peer-to-peer lending — which removes middlemen such as banks and allows people to lend directly to borrowers via online platforms — is forecast to at least double in size every year for several years to come. RateSetter CEO Daniel Foggo says Australian peer-to-peer platforms funded $50 million of loans last year and that […]
Celebrate innovation that puts the customer in charge
It’s no secret that the word innovation is in vogue. It’s not just that it’s one of our prime minister’s favourite words, it’s a trend across the English-speaking world. Use of the word has grown steadily since 1943, according to Google’s database of books published from 1800 to 2008. It was used almost twice as much in 2008 as 1969, the year humans first landed on the moon, and it’s a dead cert the past eight years have been no different. But using “innovation” as a mantra doesn’t make you more innovative. Many people feel that it’s become, or becoming, a meaningless catchphrase. It’s time to reclaim it. It’s a […]
SocietyOne shifts from edgy start-up to $100m lender
The nation’s biggest peer-to-peer lender, SocietyOne, is growing up fast, and not in the same way as its renegade US cousin Lending Club. An ASIC search has revealed the stranglehold of the so-called media consortium (News Corp, Kerry Stokes and James Packer’s media-free Consolidated Press Holdings) over SocOne after the recent $25 million Series C capital raising. The consortium, through its vehicle S. One Holding, holds a commanding 37 per cent stake, with the News and Stokes interests believed to be dominant in the S. One Holding structure. Not only that, but Westpac’s in-house venture capital fund, Reinventure, speaks for a further 17 per cent of SocOne. Put the two […]
