Stake unlocks $31 trillion US share market for Aussies, launching new trading app
Rapidly-growing Australian fintech startup Stake is set to revolutionise trading and open up direct access to the $31 trillion US stock market as its new trading app launches today. The app is the first to give Aussies access to more than 3,000 shares to invest in some of the world’s biggest companies with $0 brokerage, right from the palm of their hands. The app launch comes as Stake announces significant company growth. More than $50 million (US$38 million) has been transacted on the site, with more than 39,000 trades and 12,000 users who are taking advantage of low-cost, simple direct access to the US market. This next big milestone — […]
Verrency signs long-term innovation services deal with volt bank
Australian global payments innovation provider Verrency has signed a significant long-term deal with volt bank, Australia’s first independent 100% digital bank. The multi-year agreement enables volt bank to leverage Verrency’s cloud-based payments innovation platform and services marketplace to enable cost-effective delivery of a multitude of value-added services to its customers. The agreement comes on the back of Verrency being named FinTech Australia’s winner of the 2018 Excellence in Establishing a Global Market Presence. David Link, Founder and CEO, Verrency, said: “Verrency will enable volt bank to rapidly and cost-effectively deliver value-added services to Australian consumers – including via easy connection with multiple service providers – without requiring significant change in their […]
Changing of the guard at FinTech Australia as industry faces tough challenges
Lobby group FinTech Australia has a new chairman and relatively new CEO, a refreshed leadership team to represent its 243 fintech start-up members in the corridors of political power. At its annual general meeting last Wednesday, Alan Tsen was elected new chairman of the group, which was founded in 2016 to help drive pro-competition, technology policy, such as the government’s open banking regime. A former corporate lawyer, Tsen has his finger on the pulse, given his day job is general manager of Stone & Chalk’s new operations in Melbourne. The hub is backed by 24 corporate partners including the Melbourne-based major banks ANZ Banking Group and National Australia Bank. Tsen […]
ETF Securities says ROBO ETF surpasses $100m as investors embrace global opportunities
ETF Securities Australia today announced that ETFS ROBO Global Robotics and Automation ETF (ASX code: ROBO) has achieved inflows of $100 million since its launch in September last year. This is the fastest growth of any ETF offered by ETF Securities since its founder and Australian philanthropist Graham Tuckwell launched the world-first GOLD product in 2003. ROBO is the first exchange traded fund in Australia to provide investors with access to global companies focusing on robotics, automation and artificial intelligence (AI) technologies. It represents a partnership between ETF Securities Australia and US-based specialist robotics and automation index and research provider ROBO Global, tracking the ROBO Global Robotics and Automation Index. […]
Fintechs tell Labor a credit report delay will entrench bank power
Labor’s push to delay a law requiring the major banks to put more customer data into credit reports will entrench the big four’s market dominance and keep the cost of personal loans unnecessarily high, five of the nation’s leading marketplace lenders have said. In a letter to shadow treasurer Chris Bowen, the CEOs of SocietyOne, RateSetter, MoneyPlace, Harmoney and WISR said a further delay to mandating big bank participation in the ‘comprehensive credit reporting’ (CCR) regime will “continue to entrench a fundamental competitive imbalance between the big four and other lenders”. The letter is a response to Mr Bowen’s move last week to call for a delay to CCR by […]
Bitcoin’s collapse is raising suspicions about price manipulation
Bitcoin extended losses, bringing its four-session slide to as much as 20 per cent, as questions mount about whether the world’s biggest cryptocurrency was manipulated during last year’s record price surge. After rallying more than 1,400 per cent in 2017 amid an investor frenzy for digital assets, Bitcoin is down almost 70 per cent to around $US6,325 as of 2:52 a.m. in New York, from its record high of $US19,511 set in December. It traded at a few cents after being launched in 2009. “Things have changed for Bitcoin and the crypto space,” said Craig Erlam, senior market analyst at online trading firm Oanda Corp. in London. “There doesn’t seem […]
Innovative fintechs: it’s time to step forward for the 2018 Fintech100
Nominations are now open for the 2018 KPMG & H2 Ventures Fintech100, which recognizes leading fintech innovators from around the globe. The 2018 Fintech100 will be announced in October 2018. Visit fintechinnovators.com by Friday, 3 August 2018 and nominate your company, or any fintech you think should be considered for the Fintech100 The Fintech100, available at http://fintechinnovators.com, is compiled by fintech investment firm, H2 Ventures in collaboration with KPMG’s Global Fintech practice and includes both the leading 50 established fintechs, and the most intriguing 50 “emerging stars.” How to nominate and the judging process Nominations for the Fintech100 can be made at www.fintechinnovators.com website by Friday, 3 August 2018. The […]
