Revolut partners with ClauseMatch prior to the expansion in Australia, Singapore and Japan
Revolut, a digital-only bank and UK’s fastest growing FinTech, announced today that it has signed an agreement with ClauseMatch. Following a successful trial period, Revolut is adopting the innovative regulatory technology from a London-based RegTech to streamline management of internal policies, controls and regulatory compliance. Revolut has experienced significant growth since it was founded three years ago, developing within an extremely regulated environment. Europe’s fastest-growing FinTech player has over 3.7 million users across 28 markets in Europe, and is preparing to launch in the US, Canada, Australia, New Zealand, Singapore and Japan in the coming months. Revolut is currently working in multiple jurisdictions with different rules applied to financial services […]
The Fourth Industrial Revolution built on blockchain and advanced with AI
Blockchain technology is so synonymous with cryptocurrencies, and especially Bitcoin that it is almost like the financial sector has usurped its potential. In times like these, where an investing bear market has befallen the cryptocurrency space, it is easy to get down on the revolutionary possibilities of blockchain technology. Since the original Blockchain, that is Bitcoin, emerged, there has been a considerable focus on transactional blockchains which have been at the forefront of the mainstream understanding of the technology. Bitcoin is often the layman’s first point of call with the stories of investing success stories obscuring the view of other possibilities. However, blockchain technology is moving along in an undercurrent […]
The Perth startup revolutionising small business bookkeeping
John Battley says while day-to-day expenses make up just 10-15 per cent of small or medium-sized business costs, they take up at least half of owners’ bookkeeping time. It’s an issue the Perth-based financial technology veteran said ate into business owners’ precious time and money — which is why he started Penny Inc. Penny Inc works by issuing free debit Mastercards to companies, which they then give to their employees. The real time-saving comes from Penny’s back-of-house software platform that updates businesses’ accounts in real time and gives them instantaneous control over where and how employees can spend cash. It also has a world-first integration with accounting software like Quickbooks. […]
Neobank Revolut to launch in Australia, 20,000 on waiting list
“I never want Revolut to be referring to itself as a bank,” says its head of marketing, Chad West. “We are an alternative to a bank. We are completely different.” Revolut, headquartered in London, was only founded three years ago; it now has over 3 million customers in Europe, a number that has doubled over the past nine months. The neobank is attracting 7000 new customers each day, and expects this will be 10,000 by the end of this year. In April it secured $US250 million in fresh venture capital funding for global expansion, at a valuation of $US1.7 billion. It’s the fastest-growing unicorn tech company in Europe. And according […]
Neobanks are coming: What the revolution means for you
For the first time the big four Australian banks are about to face several new challengers at once as a group of ‘neobanks’ promise to change the way you manage your money. Eric Wilson was a senior executive at NAB, getting nagged by his father-in-law, a former bank manager for the Bank of New South Wales when he decided he’d had enough. “He used to always say to me ‘Eric, why is banking like this? It used to be about people but now it’s just about screwing people for as much money as they can,” Wilson tells Your Money. “Eventually I had a bit of an epiphany when I was […]
Open data revolution ramping up: What fintechs need to know
By Steve Philpotts, General Manager – Data Quality and Targeting, A/NZ at Experian In case anyone thought the open data revolution was settling down, last month’s advances have proved that we’re only just getting started. The government set new deadlines for Australia’s Open Banking regime, set aside millions in the budget for funding broader ‘Consumer Data Right’ measures, and announced that they will hire a National Data Commissioner. All this occurred in the shadow of data security concerns, and debates around the nuances of comprehensive credit reporting. Understandably, many financial services organisations have been left wondering how they can keep pace. As regulators across Australia are increasingly looking to […]
Blockchain poised to revolutionise the financial services industry
It’s tempting to dismiss blockchains and the cryptocurrencies they support as a techno fad that will fade as quickly as it appeared. However, there are growing signs the technology is poised to shake the financial services sector to its core. At its heart, a blockchain is a digital ledger in which transactions between parties are recorded chronologically and publicly. Based on blockchains, cryptocurrencies are digital currencies in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, independently of any banks. Its role in the financial sector While awareness of blockchains and cryptocurrencies is already very high in the financial services […]
Fintech numbers causing a revolution
According to sources at disruptive Real Estate platform Next Address, the implementation of Fintech equity crowdfunding has sent their chatbots into overdrive with record enquiries and investors jumping on board. Julie O’Donohue, founder of the Australian company says it’s all about opportunity and empowering people. “People are loving the concept of helping us grow, investing directly with us from just $250 with a few perks that are making everyone smile. It has taken hard work by our entire team to make our platform the best, and now we are getting validation from everyday Aussies wanting to get on board. We made Next Address for the people, and now those very […]
