Moroku teams up with banking software giant Temenos to help parents help their children win financially
Swiss based Temenos today announce that it is making Moroku’s ChoreScout app available to its banking customers via the Temenos Marketplace to help banks educate the next generation on better money management and invest in long term relationships. The announcement sees ChoreScout integrated with the Temenos core banking platform, whilst marketplace availability means that existing Temenos banks are able to login to the marketplace, review background material, request a free trial and be provided with test accounts. With over 2,000 firms across the globe, including 41 of the top 50 banks, relying on Temenos to process the daily transactions of more than 500 million banking customers, the agreement gives […]
FinTech Interviews: Uno Home Loans
In the second of Matthew Parker’s series interviewing FinTech CEOs, he sat down with Vincent Turner, the CEO of Uno Home Loans. Matthew Parker: There have been a few new Mortgage brokering businesses launch over the past 2 years, why is this happening now? What has created the right circumstance for this to occur? Vincent Turner: Good question… One of the drivers is that it’s one of the last transactions left to do digitally. People are now more comfortable applying for financial products online such as credit cards and loans, not just researching and comparing. As people become more comfortable transacting online with their holidays or flights or clothes, they […]
Security important but most consumers prefer convenience
The fact convenience trumps security for most consumers when it comes to online shopping was one of the more alarming revelations to come out of the recent Future of Payments roundtable co-hosted by The Australian Financial Review and Braintree. For founder and CEO of online beauty store Adore Beauty, Kate Morris, the level of concern people have about security at present is nothing compared to what it was when she began in 2000. “People just assume that so long as your website looks legit, that you are all right.” CEO and founder of online personal brand consultants Social Check, David Griffiths, believes consumers are in for a huge wake-up call […]
Australia to be a cashless society by 2022
Cash is predicted to make up only 2% of all payments within the next five years. If you still pay for your morning coffee with a crisp $5 note, you’re a rare breed and clearly missed the “cash is no longer king” memo. New research shows that the number of cash payments received by Australian merchants has plummeted by 46% between 2010 and 2016 alone and currently makes up less than 10% of all payments. According to the research by market analyst East & Partners, if this trend continues, cash payments across Australian businesses are predicted to fall below 5% by 2019 and below 2% by 2022, creating a virtually […]
ATM use hits 15-year-low as shift to cashless society gathers momentum
ATM withdrawals have slumped to their lowest levels in 15 years and the number of Australians taking cash out during debit card transactions is falling at the fastest annual rate on record. The new figures provide an insight into the wider shift towards a cashless economy, as electronic payments such as Paypass transform habits and consumers shy away from ATM withdrawal fees and bricks-and-mortar branches. According to Reserve Bank of Australia figures released on Monday, the number of ATM withdrawals in January fell by 7.7 per cent compared to last year. The total value was down by 3.9 per cent. It follows two consecutive years of ATM withdrawals falling by […]
SocietyOne hits $200m milestone as growth accelerates
Total lending reaches $200 million since inception after record month in November Loan book up 315% in 2016 to $126 million Record quarter of lending in the three months to December 2016 New Chief Marketing Officer appointed SocietyOne, Australia’s leading and fastest-growing marketplace lender, has achieved another key milestone after breaking through the $200 million lending mark. The last three months of the 2016 calendar year have witnessed the strongest growth in the company’s four-year history with an additional $50 million of lending made between the first weeks of September and mid-December. November saw a record month of more than $15.3 million in lending. That took the total […]
Afterpay and zipMoney: New instalment of old idea gains momentum
Fellow veterans of the “brown paper and string” era may recall lay-by, the instalment schemes offered by retailers before those plastic works of the devil called bank cards came along. At the risk of going all Bernard Salt on readers, the smashed avocado generation would be aghast to learn that customers of yore were required to put down a deposit on the item, but did not receive the goods until they paid the agreed instalments. What’s old is new again, and now lay-by is being reverse-engineered in the guise of point-of-sale retail intermediaries that finance “no-interest” payment instalment schemes. The key difference is they are “buy now, pay later” schemes […]
DASH integrates with Living Room of Satoshi bill pay service
Dash, the “better bitcoin,” has been integrated into one of Australia’s most promising cryptocurrency companies, Living Room of Satoshi, a business that has already revolutionized the way people pay their bills online. Founded only two years ago, Living Room of Satoshi was named 2015 Australian Startup of the Year award by StartupSmart for the innovative way the company allows Australians to pay their everyday bills with cryptocurrency, including rent, utilities, insurance bills, phone bills, speeding fines, credit card debt, and government tax bills. The service is linked to BPAY, an online bill payment mechanism accepted by over 45,000 companies across Australia. Today, Dash joined Bitcoin as the only alternative currency […]
