Mutual banks back fintech accelerator mLabs
Member-owned credit union CUA will turn to young, digitally savvy entrepreneurs to help it address a gap in its business: luring in more young, digitally savvy customers. The Queensland-based company is one of seven mutual banks that have signed up to a new fintech accelerator program run by professional services firm KPMG. The mLabs 12-week program will connect the mutual banks with 14 start-up companies in an attempt to promote innovation. Beyond Bank, Greater Bank, Heritage, IMB (Illawarra Mutual Bank), Police Bank, and Teachers Bank have signed up alongside CUA to work closely with the start-ups to come up with solutions to sector-wide issues, and create prototype products and services. […]
Bitcoin available over the counter at a newsagency near you
Two Australian tech start-ups are launching an over-the-counter platform for selling Bitcoin making it available to everyday consumers and providing online retailers and the newsagents offering the service more income streams. It means Australians will be able to buy Bitcoin over the counter with cash for the first time. The technology is being deployed to about 1200 newsagents nationally effectively making them Bitcoin bank outlets and giving many in the struggling industry a new strand to diversify their revenue. There are currently Bitcoin exchanges in Australia which facilitate online transactions and transfer money but no over-the-counter solution for cash to buy Bitcoin. A 4 per cent fee applies to transactions […]
CBA eyes collaboration with fintech companies in Asia and Europe
Kelly Bayer Rosmarin, CBA’s (CBA) Group Executive, Institutional Banking and Markets, said the Hong Kong and London labs highlighted the banks’ global approach to innovation that connected customers, employees and start-up communities to the latest fintech developments. “Hong Kong’s highly developed financial sector, strong entrepreneurial culture and proximity to China makes it the optimal location for us to establish an innovation presence in Asia,” she said in a statement. “The Hong Kong Lab will allow us to partner with the brightest minds across the city’s accelerator, government, university, start-up and fintech communities to further develop creative and innovative solutions for our clients.” Speaking in Hong Kong at the opening ceremony […]
More Aussie funds available for fintech start-ups
Australian fintechs say despite Atlassian choosing Nasdaq to make its $8 billion raising, Australia is becoming one of the biggest sources of funding for them with Prime Minister Malcolm Turnbull an important catalyst. “This is our fourth year. Four years ago we talked to a number of Australian investment groups and there was very limited interest for a company trying to disrupt financial services,” said Beau Bertoli, the co-chief executive of small business lender Prospa. “In the last 12 months we have seen a huge swing the other way. There is not just offshore but onshore money and we should see a flurry of money coming into the industry in […]
The 2023 Australian FinTech news headlines
Here are all the major Australian FinTech news headlines for 2023.
Australian fintechs well represented on AFR’s Fast 100 and Fast Starters lists
Australian fintech companies are again well represented on the Australian Financial Review’s annual AFR Fast 100 and AFR Fast Starters lists.
FinTech Awards introduces Crypto/Digital Asset Category following The Bragg Report
The FinTech Awards has created a new award to recognise the growth of Crypto and Digital Asset services by fintechs and banks in Australia.
6th Annual FinTech Awards 2021 – Now open for Submissions
The 6th Annual Australian FinTech Awards 2021 are now open for submissions. Enter now!
