FinTech Australia announce finalist for The Finnies 2018
FinTech Australia and Jobs for NSW have come together for the second year to host the national fintech awards, The Finnies. The Finnies will culminate in a Gala Awards Night Wednesday 13 June 2018 in Sydney. For more information go here. Here is the full list of finalists for the 2018 Finnies: Best Workplace Diversity ● BRICKX ● FirstStep Investments ● Link4 ● Valiant Finance Emerging FinTech Leader of the Year ● Brad Delamare – CEO, Tank Stream Labs ● Louis Edwards – Head of Renewable Energy Finance, RateSetter Australia ● Nick Molnar – Co-Founder & CEO, Afterpay ● Jack O’Reilly – Director, funding.com.au ● Rebecca Schot-Guppy – Community Manager, […]
Six Park partners with Heffron to launch transparent, low-cost SMSF solution
Automated investment provider Six Park has today announced it has partnered with leading independent self-managed super fund (SMSF) administration provider Heffron to offer a transparent, low-cost, digitally driven, end-to-end SMSF service. The partnership allows SMSF trustees to establish an SMSF and take advantage of robo-advice for their fund, with Heffron managing the compliance and Six Park managing the investments. Six Park CEO, Patrick Garrett, said that while there will always be a place for traditional advice, the solution offers a unique value-for-money proposition for trustees and a lower prospective entry point to set up an SMSF. “Digital technology and automation are disrupting the wealth industry not because they’re new but […]
Robo advisers march in tracks of royal commission scandals
The shenanigans revealed by the banking royal commission over the past week will inevitably draw attention to the emerging batch of start-ups offering digital financial advice. Often referred to as “robo advisers”, these technology companies are cutting investment fees through automation thereby removing the human foibles dramatically exposed by Commissioner Kenneth Hayne’s inquiry. The commission has shown human adviser education levels can be appallingly low, and paper-based processes have led to poor record keeping. Meanwhile, customers are often apathetic and disengaged, and complexity reigns. Processes being digitised include the creation of broking accounts, executing trades, rebalancing portfolios and generating statements of advice. This can all be presented to customers for […]
Australian millennials have taken to robo financial advice
Australian millennials are dominating when it comes to using robo-advice to get ahead with their money, according to the latest Robo-advice Report from Investment Trends. The study is based on a survey of 10,000 online investors and 1,425 financial advisers between February and December 2017 across Australia, the US, the UK, Spain, Germany, France, Singapore and Hong Kong. In Australia, robo-advice has gained significant recognition among the Australian online share investor population, with 22% saying they are familiar with these services. Only in the US, where the bulk of innovation in robo-advice is taking place, is familiarity with robo-advice significantly higher (39%). “The Australian financial services industry is ripe for […]
Australia lags on digital banking revolution: Oracle survey
Would you be prepared to give a little-known business access to your most sensitive financial data, if it meant getting a better deal on your home loan? This type of question is set to become increasingly relevant in the coming years, as the big data revolution joins forces with a push for greater competition in banking. Data is one of the most valuable assets in the financial world, and there’s a clear trend towards policies that put more of this value back into the hands of consumers, rather than large corporations. The only catch is that often, the way for consumers to squeeze more value from their data it to […]
Ignition Wealth announces new CEO Manish Prasad
Ignition Wealth Co-Founder and inaugural CEO Mark Fordree today announced the appointment of Manish Prasad to the role of CEO of Ignition Wealth. “On behalf of the Ignition Wealth Board, executive team and staff, we are extremely pleased to have engaged Manish Prasad to lead Ignition Wealth. Manish is a deeply experienced and well respected financial services executive, whose expertise and knowledge will guide Ignition Wealth as we continue to grow.”, said Mark Fordree, Executive Director, Ignition Wealth. Manish is a highly credentialed financial services executive with deep domain experience in financial advice across all channels and segments. Manish’s career includes senior roles globally for NAB/MLC, AMP/AXA, Genesys Wealth Advisors, […]
Robo-advice provider inks deal with Class
An Australian robo-advice provider is partnering with Class to enhance its investment and tax reporting facilities. Class chief executive Kevin Bungard said the new arrangement with Six Park is “another great example of an innovative fintech solution which supports investors with effective investment decision-making, providing a daily up-to-date view of investment data and detailed tax reporting.” Six Park is also partnering with SMSF administration provider Heffron so as to offer its clients an automated SMSF management platform. Six Park chief executive Patrick Garrett explained: “While there will always be a place for traditional advice, there is a huge opportunity to use technology and automation to bring professional SMSF administration and […]
Australian Fintech, Forecast for 2020
Telecoms Market Reports has been published today new report. It provides updated in 2018 year analysis of Telecoms and Computing Industries. Australian FinTech revenue will grow at a CAGR of 76.3% and exceed A$4 billion by 2020, driven by reduced taxes on investments in startups, steady increase in mobile payments, and rise of Tech-savy digital natives. The Australian Fintech Sector generated A$247.2 million in 2015. Sharp growth in the Fintech market in 2016 and 2017, followed by steady increases through to 2020, is likely spur growth. This research defines the Australian FinTech sector as comprising three market segments: digital payments, personal and business finance, financial infrastructure and data analysis. Each […]
