Aussie fintechs forge closer ties with London
Australian and British fintech start-ups, regulators and government bodies will look to deepen ties this week as ASIC chairman Greg Medcraft, Minister Assisting the Prime Minister for Cyber Security, Dan Tehan, and ASX deputy CEO Peter Hiom lead a fintech trade delegation to London. The trip, arranged by the Australian British Chamber of Commerce with support from the Australian Trade and Investments Commission and UK Department for International Trade, will involve Australian-based startups including AgriDigital, Timelio, Neu.Capital, PayDock, Sharesight, Tradle, Splend and Edstart. The group will visit the London Stock Exchange, Amazon and Level 39 in Canary Wharf, which houses more than 200 fintech companies. It will receive briefings from […]
Robo adviser Six Park says lower balance SMSFs are viable
A robo adviser backed by four founding members of the Future Fund says that pre-retirees with starting balances of under $150,000 can run their own super funds, despite the corporate watchdog cracking down on providers that offer low-balance SMSF set-ups. The chief executive of Six Park Patrick Garrett said that the robo adviser, which counts the former federal finance minister Lindsay Tanner as both a financial backer and an advisory board member, is launching a lower-cost establishment service to make self-managed superannuation funds more “accessible” and easier to run, particularly for those with small balances. “I wouldn’t recommend a $10,000 SMSF account. But we have one of our first clients, […]
TorFX Awarded Best Value International Money Transfers
MOZO, one of Australia’s most established and accredited financial comparison websites has just announced TorFX as its Experts Choice Award for International Money Transfers 2017. This is the second year running that MOZO have awarded the title to TorFX; great recognition for a company who believe offer their customers the best value when making international payments to and from Australia. TorFX provide individuals and businesses with international payments as a cost saving alternative to the banks, by providing their clients with more competitive exchange rates than the more traditional means. TorFX clients can transfer money online 24/7 from anywhere in the world using their computer, tablet or smartphone. […]
Bitcoin spikes after Japan says it’s a legal payment method
Bitcoin trades up 2.8% at $1,133 a coin as of 7:08 a.m. ET on Monday. The cryptocurrency’s gains come after Japan announced on Friday that bitcoin would be accepted as a legal payment method beginning on April 1, 2017. It’s the first bit of good news for bitcoin in quite some time. Recent chatter in the market has centered around developers threatening a “hard fork” that would split the currency in two. Additionally, the US Securities and Exchange Commission rejected two bitcoin ETFs in March, saying that it did not find the proposals “to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the […]
The ‘booming’ NSW economy that 100,000 people have joined
Growing use of services such Uber and Airbnb has led to a billion-dollar increase in the size of the so-called sharing or collaborative economy in NSW over the past year, a new study has found. The sale of goods and services via peer-to-peer technologies generated $2.6 billion in revenue for the NSW economy last year, recording growth of nearly 70 per cent, according to the research from Deloitte Access Economics commissioned by the finance department. The number of people in NSW earning an income from businesses that are part of what the state government calls the collaborative economy has nearly doubled over the past 12 months to reach 92,400, the […]
Stake lifts the bar for trading US stocks and ETFs
It was during a three-year stint in Chicago, working for market maker Optiver, that Matt Leibowitz realised Australians were getting gouged buying international equities through the brokerages owned by the big banks and the customer experience was woeful. “During my years in the US I was amazed at the breadth of product offered to US investors at a compelling price,” said Mr Leibowitz, who was a lawyer at Allens before joining Optiver in 2007. “I was shocked at the breadth and costs in Australia: we paid more and got less.” Returning to Australia four years ago, Mr Leibowitz started to sense an opportunity to start a fintech that would provide […]
Winners of the British Australian Fintech Forum Start-Up Competition announced
The Australian British Chamber of Commerce is delighted to announce the winners of seven supported places for the British Australian Fintech Forum to be held in London between the 19th and 21st of April 2017. The winners are (in no particular order): Chris King – Splend Edward Jones – Neu Capital Rob Lincolne – Paydock Doug Morris – Sharesight Charlotte Petris – Timelio Jack Stevens – Edstart Emma Weston – AgriDigital Andrew Chick, Chairman of the BAFF Committee said: “We received over 50 applications for our supported places. The Selection Committee was very impressed with the quality of submissions and deciding on the final seven was particularly difficult. We are […]
