FinTech: UK Vs Australia
by Matthew Parker, The MitchelLake Group Having recently moved from the UK to Australia, I have been excited to observe and experience first-hand some of the differences between the UK FinTech ecosystem and that of its Antipodean cousin. I do not, by any means, pretend to be an expert, but I have had the privilege of working with and alongside some of the most exciting FinTech businesses and individuals across multiple markets. Any observation I am able to draw comes from a place of passion and sincere enthusiasm as well as a helpful dose of experience. So without further ado, let’s compare and contrast. The UK hit its stride at […]
How automation is shaping fintech plans
Digital innovation and partner collaboration are key. A new industry report calls for investment banks to take advantage of technological innovations by optimising outdated operating models, improving automation and undertaking a digital transformation. Australian consultants EY’s Capital Markets: building the investment bank of the future report reveals that, despite continued efforts to reduce costs, investment banks are becoming less efficient. These institutions remain reliant upon maintaining decades-old, complex and inflexible IT infrastructure. The report suggests banks can do more to enhance their business by harnessing fintech innovations. For example, over the short-term investment banks can develop robotic process automation (RPA) and advanced analytics to sort through large amounts of data. […]
High-net-worth investors embracing robo-advice
Robo-advice platforms’ capacities are expected to continue growing in the coming year, according to Finovate, expanding their functionality to include broader wealth management functions and cater to high-net-worth customers. The “myriad” financial needs facing Millennials, coupled with increasing longevity risk confronting older investors, has driven change in the robo-advice space, Finovate research analyst David Penn said, with the improving abilities of such services now extending beyond “traditional boundaries”. “The growing capacity of robo-advisers to help manage other aspects of personal finance supports a more expansive view of wealth management and financial planning,” he said. “This includes everything from health care planning, insurance, even real estate, education and leisure.” As robo-advice […]
Robo advice start-up Six Park closes $1.5m capital raise
Melbourne-based robo-adviser Six Park has closed a $1.5 million capital raise from a powerful group of investors that includes a former finance minister.
Merger Creates Powerful Fixed Interest Investment Player in the Australian Market
Trustees Australia (ASX:TAU) and the new fintech marketplace operator, Cashwerkz, are excited to announce a merger where by an established business with plenty of FUM (funds under management) but no platform, effectively buys a brand new platform with a growing distribution network. The combined business will serve retail customers, the financial planning industry, and the middle market – comprising superannuation funds, councils, and other entities – looking to invest large cash balances. Anyone that needs a term deposit or a related cash product can access these through the powerful Cashwerkz platform which – in essence – is a new market place for cash. The platform’s unique back-end technology makes […]
Turnbull says fintech is switched on
Prime Minister Malcolm Turnbull has sought to reassure leaders of the wealth-management industry that the government is committed to reducing red tape and fostering innovation. This comes as the government looks to the booming financial services sector to pick up the slack from declining mining industry revenues and boost economic growth. The latest set of national accounts, released last week, showed that over the three months to September 30, gross domestic product (GDP) recorded the slowest quarter of growth since the global financial crisis nearly a decade ago. A 0.5 per cent fall in GDP over the September quarter, which pushed the annual growth rate down to just 1.8 per […]
Stone & Chalk fintechs integrate to unlock huge opportunities for advisers
Award winning fintechs from Stone & Chalk – Macrovue and Fincast – integrate to offer a comprehensive off-platform investment solution. Global thematic trading platform, Macrovue, and model portfolio management tool, Fincast, have teamed up to provide a game-changing solution for the wealth management industry. The integration of the two award-winning, next-generation solutions will provide advisers with the ability to automatically create tailored multi-asset class portfolios, matched to a client’s unique goals and risk profile and seamlessly execute the trades, all in under one hour. The solution will see a huge increase in efficiencies for advisers. Model portfolios teamed with seamless automation and execution will free-up advisers and […]
Australians are starting to think robot financial advisers might be a good idea
The use of automated investment services, or robo-advice, is still small in Australia but is growing fast. The latest research by analysts Investment Trends shows 27% of online investors have heard of robo-advice, up from 19% just six months ago. Robo-advice, the field of online investment and savings platforms where face-to-face is replaced with automated guidance and execution, is growing via a series of fintech startups in Australia including Stockspot. “Many investors are taking notice of robo-advice, and have an interest in learning more about this potential digital disruptor in the financial services industry,” says Investment Trends research director Recep Peker. “Robo-advice will take centre stage as more solutions become […]
