Australian blockchain delegation heads to New York
Australia’s blockchain capabilities and technologies will be showcased to global leaders and investors at Consensus 2017 in New York from 22-24 May. A 26-member Australian delegation will be heading to the event to present globally competitive and innovative solutions across the spectrum of industry applications, from digital currencies and payments to agricultural supply chains, smart contracts and identity management. Consensus 2017, now in its third year, has become a landmark event on the blockchain calendar. The event attracts global professionals from leading industry startups, investors, financial institutions, and academic and policy groups who are building the foundations of the blockchain and digital currency economy. Nicola Watkinson, Austrade’s Senior Trade and […]
Bitcoin rises to record high in blockchain-related boost
Digital currency bitcoin hit a record high overnight as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology. Blockchain, the underlying technology behind bitcoin, is a financial ledger maintained by a network of computers that can track the movement of any asset without the need for a central regulator. Bitcoin hit a record $US1760.40 on the BitStamp platform and was last at $US1747.89, up 6 per cent on the day. So far this year, bitcoin has surged nearly 80 per cent. Bitcoin’s market capitalisation overnight soared to $US52.5 billion, according to data from coinmarketcap.com. Aside from being an asset that can […]
Scott Morrison hints at open data green light to boost banking competition
Treasurer Scott Morrison has hinted strongly that the government will give banking customers power over their own data so they can shop around for a better deal from other financial institutions. The change could be announced as early as budget night on Tuesday, at the same time the Treasurer launches a Productivity Commission inquiry into the State of Competition in the Australian Financial System, a process which could lead to sweeping change. There has already been a Productivity Commission inquiry into so-called open data and the government has the final report. The interim report on “data use and availability” sent to the government on March 31 called for customers to […]
Graham Tuckwell says active managers are threatened by ETFs
Graham Tuckwell, the Australian Rich Lister behind the world’s first gold exchange traded fund (ETF), has slammed the active funds management industry as his firm gears up for a fresh push into the Australian market. Mr Tuckwell spoke to The Australian Financial Review as he prepares to take full control of a suite of exchange traded funds launched as a joint venture with ANZ. The philanthropist and entrepreneur delivered a broadside to the hordes of stock pickers who underperformed their respective benchmarks and were handsomely paid for their services. “There are a huge amount of active managers being paid 1 per cent to 1.5 per cent for matching or even […]
Powerhouse disruptors NowInfinity and View Legal join forces
Two powerhouse disruptors – cloud-based document and entity management platform NowInfinity, headed up by fintech entrepreneur Amreeta Abbott, and groundbreaking law firm View Legal, headed up by innovator and recognised expert in estate planning and tax law, Matthew Burgess, have joined forces, merging the digital business units of each firm and forming a strategic partnership on legal services. “The partnership and merger provide accountants and bookkeepers, financial advisers, SMSF specialists and adminstrators and legal firms with a whole new level of solutions,” said NowInfinity CEO, Amreeta Abbott. “It enhances the NowInfinity platform, enabling members to efficiently create, collaborate and manage specific governance and life events for their clients.” Ms Abbott […]
Proptech meets fintech: Construction software platform Aconex eyes payments
Aconex is planning to expand into financial services by using operational data about subcontractors and their projects to help lenders price credit to them. The business that sells construction software to let companies exchange project information and track progress was looking to develop a payments function on the back of its newly launched Connected Cost product, executive director and head of product and engineering Rob Phillpot said. Aconex saw an opportunity to ease the cashflow pain felt by subcontractors, who often had to wait for payments from higher-level contractors even though they had already paid their own costs, Mr Phillpot said. While some subcontractors, particularly larger ones, factor their invoices […]
Top 25 Australian Fintech Influencers
The Australian fintech industry is booming, and according to Finder.com.au these are the people (in no particular order) that are helping to shape it: Alex Scandurra – CEO of Stone & Chalk Alistair Lamond – Commercial director of Skippr Andrea Myles – CEO of the China Australia Millennial Project Asher Tan – Co-founder and CEO of CoinJar Ben Heap – Founding partner at H2 Ventures Caitlyn Iles – Founder of XChange Cameron Dart – Founder and CEO of Australian FinTech Charlotte Petris – Founder and CEO of Timelio, vice-president of Fintech Australia Danielle Szetho – CEO of Fintech Australia Danny Gilligan – Co-founder of Reinventure and co-founder of Data Republic […]
Advisers urged to dump simplistic advice to drive growth
Financial planners need to be prepared to shed some clients and rebuild their value proposition if they are to achieve sustainable growth, according to a new white paper released by Matrix Planning Solutions and ClearView Financial Advice. The whitepaper, which has drawn on the experiences of Matrix advisers, argues that for financial planners to deal with the competitive pressures being driven by robo-advice and industry superannuation funds, they need to deliver a better value proposition. “In order for advisers to remain compliant and secure in their position as trusted adviser, they must continuously add value,” it said. “The way to continuously add value is to delve deeper into their clients’ […]
