Australia needs to foster FinTech with level playing field
The recent Presidential election in the US and the Brexit vote in the UK clearly show that the public in liberal democracies like Australia are tired of failure by governments to ensure social justice is being served on all levels. Political and corporate leaders appear to the public to act with impunity and social policies are not addressing the increasing inequality of wealth. These leaders seem to be out of touch with their constituents, illustrated by the surprise results in US and UK. Leaders in Australia should be warned — they ignore, at their peril, social justice issues such as the behaviour of the ‘Big Four’ banks, who operate in […]
Blockchain is here to stay
Blockchain, the technology that underpins Bitcoin, is the talk of the town at the moment. The financial services industry can’t get enough of it. The enthusiasm essentially boils down to the technology’s potential to reduce the financial transaction costs while ensuring robust security. While Bitcoin is unlikely to be make traditional currency extinct, blockchain has provided the impetus needed for new and innovative research into how the slow and often expensive centralised financial transaction systems that dominate banking, so what is this blockchain? Put simply, blockchain is a data structure that can be used to create digital ledgers of transactions shared among a distributed network of participating organisations. Financial institutions […]
A quarter of bank revenue may be lost to disrupters: PwC
Incumbent banks throughout the world are bracing for the loss of almost a quarter of their revenue to financial technology disrupters during the next five years, a global survey by PwC has found. PwC’s global fintech report, published on Tuesday, finds 95 per cent of bankers believe at least some of their business will be given up to fintech players in the coming years. PwC’s Asia Fintech leader, John Shipman, said he was surprised the number wasn’t 100 per cent. “Almost all of the financial services clients I’ve spoken to acknowledge that fintechs either now or very shortly will have the ability to disrupt the majority of their business,” Mr […]
Fiserv and Alpha Payments Cloud Partner on Cost Effective Solution to Connect to Real-Time Payments in Australia – Press Release
Alpha Payments Cloud, a global leader in providing third party payment, risk and commerce solution access to international banks and merchants, has today announced a partnership with Fiserv, Inc., a leading global provider of financial services technology solutions. The partnership will provide Australian banks with a simpler and faster way to process payments in Australia while also generating significantly more value through the addition of overlay services through the AlphaHub Payments as a Service platform. The AlphaHub introduces Australian banks to an entirely new middleware layer that provides frictionless access to overlay services instantly, significantly speeding up the introduction of new functionalities. Accessing these new functionalities through the AlphaHub’s considerable […]
