Legally certified identity verification solution ‘light years ahead’ of the market
Max ID®, an Australian Legal Practice and Reg-tech innovator, has been named as a finalist for the Fintech Business Start Up of the Year and Compliance Innovator of the Year at the Fintech Business Awards 2019. The Fintech Business Awards, one of the leading awards programs in the Australian technology sector, celebrates the leading individuals and organisations who demonstrate outstanding innovation and entrepreneurship. In late 2018, after testing and piloting with a number of clients had been successfully completed, Max ID publicly launched the solution that brings a broad range of industry players a step closer to their aim of delivering simple, efficient and inexpensive same-day fully compliant ‘safe harbour’ […]
Has Bitcoin entered a new normal?
Bitcoin has been experiencing low volatility recently, which could fuel greater adoption by enabling the cryptocurrency’s use as a medium of exchange. As for whether this will actually materialize, analysts have offered mixed views. Nigel Green, founder and CEO of independent financial consultancy deVere Group, forecasted that bitcoin’s modest price fluctuations will probably prompt greater use of the digital currency. While the digital currency’s price fluctuations have been “relatively modest” as of late, “volatility will return again,” he predicted. “However, there is a growing sense that crypto sector will have less extreme swings moving forward,” emphasized Green. “This is likely to further drive mass adoption.” To read more, please click on the link below… […]
Bank sector transformation will come with open banking, competition: Xinja
Australian neobank Xinja said transformation of the financial services sector, described by Royal Commissioner Kenneth Hayne as often driven by greed, will only happen when consumers have clear choice, and can move easily and quickly between banks and other providers within the banking sector. The final report from the financial services Royal Commission paints a damning picture of the culture that drives Australia’s banks, with Commissioner Hayne imploring those who run Australia’s biggest and most profitable financial institutions to ‘obey the law’, ‘act fairly’ and offer services that are ‘fit for purpose’. “The reality is, the reason we’ve reached this low is that the sector has been controlled by a […]
Ezidebit goes back to childcare roots after 12 months on the sidelines
Payments solution group Ezidebit is making an aggressive push back into the booming childcare industry after 12 months on the sidelines. Ezidebit provides an integrated payments solution to streamline collecting of fees for childcare centres and Outside School Hours Care services, reducing time spent in reconciling payments. Ezidebit has more than 20 years’ experience in the childcare industry, with a dedicated team to support the segment, but has been excluded from operating in the sector since the sale of partner QikKids in early 2018 where it was previously the exclusive payments provider. Ezidebit Managing Director Australia and New Zealand Mark Healy said: “Our heritage is in childcare and we fully […]
Don’t miss out on Moneytech’s Coding For Payments workshop
Building tailored payments workflows is often difficult. But as people increasingly are expecting seamless movement of funds as part of their app/product/service experience, coding for payments is becoming more important. Simply adding a credit-card gateway might not be enough. This workshop is about exactly that: how do we build tailored API-driven payments workflows. From “receive” through “manage” to “pay”. The Moneytech workshop will cover the following: Non-technical overview of payment landscape and what NPP and Open Banking means High-level compliance considerations The “building blocks” of Australian payments – direct entry, BPAY, credit cards, NPP, virtual accounts, tokens etc – and things to think about for each of them Practical code […]
IRESS tipped to win 80% of wealth management market
Morningstar has high hopes for listed technology provider IRESS and anticipates the group’s wealth management software business to increase its market share significantly, driven by strong demand for holisitc financial advice. In a research noted released this week, Morningstar analyst Gareth James notes that the share price of IRESS has fallen 21 per cent over the last 90 days, despite the lack of trading updates since the group posted its interim results last August. Over the first half of FY18, IRESS delivered a strong result with group segment profit up 11 per cent and operating revenue up 6 per cent compared to 1H17. Morningstar’s Mr James believes the weaker share […]
Aleksandar Svetski, CEO of digital currency exchange Amber: “I’m usually wrong a lot but when I’m right, I’m very right”
We all want to be millionaires, so what exactly are the three, simple steps to becoming a millionaire? Aleksandar Svetski, CEO of Amber says, there are none. Aleks is Co Founder and CEO at AMBER; Australia’s first app, to combine a digital currency exchange, wallet, and round ups, allowing anyone to swap the spare change from their every-day transactions into Bitcoin – on auto-pilot. Aleks told himself that he would be a millionaire by the age of 20. Was he a millionaire by this age? Not quite. With HSC results in the top 1% of the State, Aleks was granted early entry and a Scholarship to the University of Wollongong. […]
Wealth scandals open door for new entrants
A global data provider believes neobanks and robo-advisers stand a good chance of gaining traction in an industry where incumbents are plagued with scandals. Following the news that troubled wealth giant IOOF could face several class action lawsuits, GlobalData believes the damage to public trust in the financial services industry will have significant long-term implications for how Australians invest. Andrew Haslip, head of banking content for Asia Pacific at GlobalData, said superannuation has a prized place in the heart of many Aussies and allegations of misuse of client money in this area are particularly damaging on top of a string of other banking and wealth-related scandals. It has given the […]
