Search Result: savvy

Mar
05

Vinomofo Co-Founder and CEO Justin Dry says robo-advisors like Clover.com.au just make sense for digital savvy millennials

Online wine retailer Vinomofo Co-Founder and CEO Justin Dry says the best advice he would give young Australians on investing is to start. The tech entrepreneur, who grew Vinomofo from the confines of his garage in Adelaide, to a multi-million dollar company with expansions in New Zealand, Singapore, and plans for a launch in the United States, encourages the digital savvy generation to embrace the money management solutions coming out of the growing Australian market for financial technology. Being a proponent of tech that is ‘simple and easy to understand and use,’ Dry himself went to automatic investing platforms to manage some of his savings. “I’ve been waiting for something […]

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Dec
04

Banking gap widens as tech-savvy consumers look to new products

They’re called peer-to-peer lenders or fintech companies and they’re shaking up the world of consumer loans and bank deposits. Here’s why. The gap between what people pay for consumer loans and what they get from bank deposits is widening, prompting them to look to new financial technologies for better interest rates. Peer-to-peer lender RateSetter has examined big bank profit margins and found that while they are paying record low rates on deposits their lending rates for personal loans and credit cards continue to climb. “You can drive a bus through the spread between bank deposits and consumer lending rates,” said RateSetter CEO Dan Foggo. “Publicity stunts such as dropping fees […]

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Aug
16

Fintech startup Pennybox is on a mission to turn kids into smart savers, savvy investors

Sydney fintech startup Pennybox is seeking to transform Australia’s $1.5 billion pocket money market with a new app that teaches kids financial literacy while helping them earn money for completing household tasks. Pennybox was founded by former equity analyst Reji Eapen and ex-Googler Adam Naor, who developed their app with the assistance of a $25,000 Minimum Viable Product Grant from the state government’s job creation agency Jobs for NSW. Naor spoke to Dynamic Business about his startup, including the experience of operating out of the Tyro FinTech Hub in Sydney’s CBD. Elevator Pitch: Pennybox is a free mobile app that draws parents and their kids together for financial education. It’s an […]

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Jun
10

Robo-advice finds market in digital-savvy older investors

Hey robo-advisers … You’re looking the wrong way! Millennials have no spare money and don’t care about investing just yet — but older Australian investors are more than ready to play. One survey after another in the US shows older investors are ­actually super keen to examine low-cost digital-based financial services. And closer to home, it’s worth pointing out that a recent survey from the SMSF Association revealed a higher portion of Australia’s one million SMSF operators were willing to try robo-advice than the general public. No doubt this emerging reality has not been lost on the kingpins of Australian finance — the banks. Earlier this week, NAB funds management […]

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Nov
09

Australian Fintech Credit Savvy Grows to 200,000 Members

Growth continues to accelerate for credit reputation website, Credit Savvy, which announced today that it has reached 200,000 Australian users. The website provides Australians with free access to their Experian credit score, monthly score updates, a knowledge centre to learn about credit and a comparison tool that lets users research and consider hundreds of home loans, credit cards and personal loans. Nearly 2 million free credit scores have been given away to the Credit Savvy member base in the past 18 months. [1] Managing Director, Dirk Hofman said, “It’s great to see that awareness of credit scores has really increased in the past year and it’s humbling to think we’ve […]

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May
11

New study finds smaller banks have more tech-savvy customers

As the Big Four pour money into fintech, smaller regional banks have the tech adopters and trendsetters on their books already. Recent research by Roy Morgan has looked at banks that have a high proportion of customers that can be classified as “technology early adopters”. The banks with the highest proportion of these customers are likely to be smaller or regional banks, with one of the Big Four not even falling above the population average. These results are surprising, with the major banks having such a strong focus on fintech, also known as financial technology, in recent months. The bank with the highest proportion of early technology adopters among its […]

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Credit Savvy

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Mar
10

Australian FinTech Startup Credit Savvy hits 100,000 Members

PRESS RELEASE: Australian Fintech Startup Credit Savvy Hits 100,000 Members Financial services startup Credit Savvy announced today that it has reached 100,000 users just shy of its first birthday, cementing its place in Australia’s booming ‘fintech’ sector. Credit Savvy provides Australian consumers with free access to their Experian credit score, a summary of their credit file and a marketplace of credit products. It also allows its users to track their credit score over time with free monthly score updates and alerts when key changes are made to their credit file. The startup has already made available over 600,000 free credit scores to its member base, with its highly active users […]

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