Robo-Advice

Nov
22

Pocketbook wins Personal Finance App of the Year

Pocketbook, one of the most popular apps in the personal finance sector with over 250,000 users, is pleased to announce that it has received a major industry award. The 2016 Finder Innovation awards named Pocketbook as the “Best Personal Financial Management App for 2016.” The award represents a significant industry endorsement of the Pocketbook app and is a testament to the Pocketbook founders for their continued innovation. Pocketbook prevailed over a range of heavy global app developers, including tier one banks. Finalists included Acorns Grow Australia ‘Acorns’ App; American Express ‘Amex AU’ App; and CommBank’s ‘CommBank’ App The award criteria was based on originality, technological Innovation, usability, impact (in terms […]

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Nov
18

Logging on to the future of financial advice

For hundreds of thousands of investors around the world, the future of financial advice is already here. There is as much as $US300 billion ($392 billion) of funds under the management of robo advisers – computers powered by algorithms that can buy and sell on your behalf – with that figure expected to rise to $US2.2 trillion by 2020. To put that into perspective, these robo advisers could buy every company on the Australian Securities Exchange and still have a trillion dollars left over. While not all robo advisers have the authority to buy and sell, and others are rebadged offerings, the benefits of digitising and automating some of the […]

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Nov
04

Fintech launches robo-planner for SMSFs

Australian fintech start-up, A.S.A.P, is launching a digital advisory platform for SMSFs in response to the removal of the accountants’ exemption from the financial services licensing regime. A.S.A.P chief executive, Jim Hennington, said that the eponymous platform had been developed to fit the changing needs of SMSF clients and accountants. “We… have found a way to use technology as the elegant solution to disruptive changes in the law,” he said. “It helps SMSF trustees and their accountants, while supporting an important public policy objective.” Hennington said plenty of SMSF accountants had yet to decide whether to refer client questions to licensed advisers in the period from 1 July, or whether […]

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Nov
03

Automated advice aims to fill the void

Automated financial advice isn’t getting the recognition it deserves in Australia as we steam towards the Robo 2.0 era, says Clover chief executive Harry Chemay. Speaking to The Australian ahead of today’s FinTech Collab/Collide Summit in Melbourne, Mr Chemay said robo-advice — online wealth management ­advice based on automated algorithms — was ultimately com­plementary to human financial advice and still largely a mis­understood technology. “Blockchain at the moment is taking the lion’s share of coverage and attention, but there are lots of developments in the robo advice space and it continues to be an evolving area that will provide value for Australians as we move to Robo 2.0.” He defines […]

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Nov
03

EY FinTech Australia Census 2016

FinTech Australia and EY Sweeney release the most comprehensive analysis of Australia’s fintech ecosystem to date, the EY FinTech Australia Census 2016 FinTech Australia and EY Sweeney are today releasing the inaugural EY FinTech Australia Census 2016, the most comprehensive and detailed report on the Australian fintech industry to date. The research was formally launched in Melbourne today by EY’s Anita Kimber at FinTech Australia’s national summit, Collab/Collide 2016 in partnership with LaunchVic. This significant piece of research was commissioned by FinTech Australia as part of their efforts to foster a thriving fintech ecosystem in Australia. The report identifies important characteristics of the Australian fintech industry, and establishes a set […]

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Quantifeed makes key hires from leading banks as expansion in Asia Pacific continues

Quantifeed, a leading provider of digital wealth management solutions in Asia Pacific, today announced the appointment of Audrey Wong in the combined role of Chief Operating Officer and Chief Financial Officer, alongside several other key senior hires in Hong Kong and Australia. The Hong Kong based company is moving ahead with regional expansion after announcing successful completion of a US$4.5 million Series A round in July. Audrey Wong brings strong financial and operational experience, coming from Bank of America Merrill Lynch, where she was COO of Asia Pacific Equities in Hong Kong. Her career spans more than 15 years in the investment banking sector, including roles as CFO and COO. […]

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Nov
01

Fintech could be bigger than ATMs, PayPal, and Bitcoin combined

We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new financial technology (“fintech”) revolution. The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes: […]

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Oct
31

Leading Australian Legal FinTech expert Claire Wivell Plater joins Ignition Wealth Advisory Board

Ignition Wealth CEO Mark Fordree has announced the appointment of Claire Wivell Plater to the Ignition Wealth Advisory Board.   “Claire Wivell Plater is a leading Australian expert on compliance and regulatory issues and concerns. Claire’s knowledge, insight and innovative approach will assist Ignition Wealth as we ongoingly develop our digital advice solution. We believe working with industry leaders like Claire will allow us to maintain our position offering a best in class product.”. Mark Fordree, CEO, Ignition Wealth.   Claire is a long standing member of the Business Advisory Committee to ASIC’s Licensing Division, and a member of the Federal Treasurer’s FinTech Advisory Group. She is an active supporter […]

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