How your broker’s performance numbers mislead you
by Doug Morris, CEO, Sharesight The human brain is easily conditioned. Do something for long enough and even the strangest things begin to appear normal. Online brokers don’t set out to deceive but the simplistic way they report performance has a similar, normalising effect. If your returns have been presented in a particular way for long enough, the figures become right even when they’re wrong. This is a problem for Sharesight as much as it is for the clients of online brokers. Accustomed to seeing the most basic reporting in their account, they load their data into Sharesight and struggle to understand how two sets of figures can be so […]
Blockchain adoption in banks coming, but slower than expected
Recent headlines suggest that blockchain technology is revolutionizing financial services. JP Morgan Chase, Barclays, Commonwealth Bank, Wells Fargo and several other leading banks are using the digital ledger technology to conduct equity swaps, cross-border trades, and other transactions. You might think that blockchain has gone mainstream. Not so fast, says former UBS CIO Oliver Bussmann, who claims it may take banks two years to run blockchain in production due to regulatory hurdles, a lack of standards and other stumbling blocks. “This is real, this will come but in a very regulated environment. We will go through a lot of validation,” says Bussmann, who jumpstarted blockchain efforts when he was leading […]
Blockchain needs explanation before application
The future of blockchain lies beyond the financial sector but the full potential of distributed-ledger technology is unlikely to be unleashed until organisations understand that it’s not a silver bullet to every problem, experts have warned. Data 61 senior research consultant Rob Hanson says that amid the “Cambrian explosion of innovation” in distributed technology there’s a need to avoid mythmaking around blockchain. “The complexity of blockchain technology needs to be translated effectively,” Mr Hanson told The Australian. “It’s no silver bullet and we don’t have great definitions in place just yet.” The sentiment is shared by Nick Giurietto, CEO and managing director of the Australian Digital Currency & Commerce Association, […]
PayPal allows sending money by voice via Siri on iPhone
PayPal has announced you can send contacts money simply by asking Siri on your iPhone. You can now use commands such as “Hey, Siri, send John $20 using PayPal”. PayPal says the feature is available from now in 30 countries including Australia with the latest version of the PayPal app. “With so many P2P transactions happening during such a busy season, we’re excited to give our users an early holiday present,” PayPal says in a blogpost today. PayPal is not the first company to offer sending money by voice. Amazon lets you buy certain items from its store using its Amazon Echo home robot. However the robot is not officially […]
Australia Post’s digital future rises from disruption as it embraces blockchain
Australia Post has been talking up its identity expertise for months and will soon launch a new mobile digital identity platform that could be a vital element of secure digital commerce. The digital service will allow people to verify their identity in just a few minutes via smartphone using biometric data. The technology will be robust enough to allow individuals to apply for a passport or mortgage by mobile and could become a new growth business for the national utility. “How do I know you’re who you say you are if I’m dealing with you on the computer?” Australia Post chief executive Ahmed Fahour asks BOSS. “Solving this is one […]
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 […]
WorldRemit achieves key volume milestone underpinned by strong user growth
WorldRemit achieves key volume milestone underpinned by strong user growth, with Australian market a key driver WorldRemit now processing over 500,000 transactions per month 100,000 transfers sent from users in Australia alone 160,000 transfers received directly on mobile phones Signalling rapid and accelerating global growth, online money transfer service WorldRemit announced it had processed more than half a million transfers in a month for the first time ever in September, with more than 100,000 transfers sent from users in Australia alone. The milestone continues WorldRemit’s record for consistent transaction volume growth, showcasing strong fundamentals – consistent, growing revenues streams and a clear path to profitability. Global turnover is […]
Gelato Messina launches world leading mobile payment app
Gelato Messina, pioneers of weird and wonderful gelato creations and one of Australia’s most popular brands, are ditching their cash-only policy and moving towards mobile payments to the joy of cashless customers nationwide. On 4th October 2016 Messina launched a mobile payment and loyalty app that allows customers to pay with their phone and be rewarded with points. Points are redeemable for gelato, merchandise and unique Messina experiences — including the chance for one loyal customer to take seven friends on a seven course gelato experience at the Messina Creative Department. Powered by LOKE, a Melbourne fintech startup, customers will be able to add their preferred payment type, including their Paypal account, […]
