Xero announces HY17 results, Australian subscribers grow 45%
Xero Limited (NZX: XRO; ASX: XRO) today reported its half-yearly earnings to September 30, 2016, executing strongly on diversified global growth while making progress towards EBITDA break-even. Achieving milestones of annualised committed monthly revenue of $303.2 million and operating revenue of $137.2 million, a 48% year-on-year increase, Xero’s paying subscriber base reached 862,000, and reached a total lifetime value of $1.7 billion. Revenue growth rates, while strong, were adversely impacted by the strengthened New Zealand dollar. Xero remains focused on driving diversified global growth and executing on its business strategy, including building towards a high-margin business. “Our focus is to build a sustainable global business with high margins, while managing […]
Fintech could be bigger than ATMs, PayPal, and Bitcoin combined
We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new financial technology (“fintech”) revolution. The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes: […]
Money for millennials: six popular investment options
Millennials have been locked out of the housing market, so are there other avenues of investment open to them? Certainly, the finance industry is working hard on creating products for younger people, but where to turn? The plan for young Aussies has always been: work hard, save your money, buy a house, start a family, then worry about the rest later. Now that the average 20 per cent deposit in Sydney and Melbourne sits at $156,000 and $115,200, respectively, part three (buy a home) in that classic four-point plan is changing. Claire Mackay, a director at Quantum Financial, says that whatever investment choice is made by a millennial investor, the […]
How can I better manage my portfolio?
Managing your own portfolio means you can minimise fees and maximise returns, but if you’re not using the right tools, you could be creating more work for yourself. Here are some handy ways to make investing easier. If you’re a retail investor in Australia and you’re not using technology, you are probably missing out. There are plenty of new investing tools that are out there for the DIY investor that can make life easier. Whether it’s using an online broker to execute your trades instead of a full service stockbroker or using one of the many portfolio management tools to help you work out your investment position, it’s becoming easier […]
Pushpay ASX float is a leap of faith
It used to involve putting cash into the collection plate but now giving to a church can happen with a few taps on a mobile phone. The co-founder of Pushpay, which will list on the Australian Securities Exchange on Wednesday, says the fintech’s revenue will triple and its cash flow become positive by the end of 2017, driven by more members of religious congregations in the United States making donations through smartphones. Pushpay, which offers a payments application to individual churches throughout the US, completed a $54 million placement to local institutions through Ord Minnett last week in a bookbuild at $2.09 a share. The offer was revealed by Street […]
A look inside AMP’s new goals-based advice business
AMP today officially launches its long-awaited AMP Advice business, after a long development period during which the financial services giant substantially re-engineered its advice process and technology infrastructure. AMP Advice currently has 11 operating practices around the country, and aims to have as many as 30 by the end of the year as ipac Securities practices transition to the new model, and as other AMP-aligned practices voluntarily make the move. The ipac brand will eventually disappear as the new advice business expands. AMP Advice is built on a goals-based approach to advice, with fees charged by advisers in a range according to the complexity of the advice ultimately provided, and […]
Adviser Ratings Expands Business with String of New Appointments
Financial services technology company, Adviser Ratings has recently expanded its business with the appointment of two new senior staff members and a full service PR agency to manage its B2B and B2C communications activity. Following a successful launch to market in 2015, the expansion comes as a result of increased demand in the business’ personal finance offering, as its advisory and consumer member base continues to thrive. Joining Adviser Ratings as Chief Operating Officer, Jaime Brands brings with her 10 years of industry experience, six of those spent at Google Australia & New Zealand as the Head of External Telesales Operations for the entire region. With expertise in team leadership, […]
finder.com.au launches inaugural Innovation Awards
finder.com.au launches national awards to celebrate excellence in innovation Entry deadline is Friday 7 October 2016 Winners to be announced at event in Sydney on Thursday 10 November 2016 Australia’s most visited comparison website, finder.com.au, is inviting Australian businesses to celebrate their groundbreaking achievements of 2016 by entering the inaugural Finder Innovation Awards. Featuring seven categories, the Awards are designed to celebrate excellence, creativity and revolution in the technology, retail, insurance and financial markets, with winners to be revealed at a Sydney ceremony in November. Fred Schebesta, co-founder and director of finder.com.au, says the Awards are about providing industry recognition and raising awareness of the achievements of technological and financial innovators in Australia. “It […]
