Australian Fintech, Forecast for 2020
Telecoms Market Reports has been published today new report. It provides updated in 2018 year analysis of Telecoms and Computing Industries. Australian FinTech revenue will grow at a CAGR of 76.3% and exceed A$4 billion by 2020, driven by reduced taxes on investments in startups, steady increase in mobile payments, and rise of Tech-savy digital natives. The Australian Fintech Sector generated A$247.2 million in 2015. Sharp growth in the Fintech market in 2016 and 2017, followed by steady increases through to 2020, is likely spur growth. This research defines the Australian FinTech sector as comprising three market segments: digital payments, personal and business finance, financial infrastructure and data analysis. Each […]
Sydney fintech Waddle just secured a $50 million debt funding round
Online cash flow lender Waddle has secured a $50 million debt funding facility, as it revealed it almost doubled its lending volume in the last financial year. The software is integrated into popular small business accounting packages like Xero, Intuit and MYOB to be able to look at which invoices are overdue for its customer. Based on this information, money is instantly lent out at the click of a button. The Sydney startup saw a 84% spike in lending volume for the 2017 financial year, which exceeded the initially expected mark of $30 million. Waddle co-founder Simon Creighton said the genre was previously “plagued” with complexities like factor pricing, contracts […]
Locked out of property market? Five better places for Millennials to put money
By Clayton Howes – CEO of MoneyMe Life sucks for an aspiring property owner right now. You probably already know that the average price of a house in Australia ($656,800) is several (eight) times that of the average full-time yearly income ($78,832). You’ve probably already heard that in the past five years alone, wages have grown significantly slower (13 per cent) than house prices (41 per cent), especially if that house is in Sydney (70 per cent). It’s enough to make you want to drown your sorrows in the most expensive smashed avo and latte combo available! But honestly – enough, already. If you’re as bored as I am of […]
Prospa’s Telstra Business Award win puts the fintech sector ‘on the map’, says co-founder
Online small business loan provider Prospa has become the first fintech company to win Telstra’s NSW Medium Business Award, with co-CEO Beau Bertoli stating that the accolade shows fintech is “no longer just some startup idea”. Bertoli, who founded Prospa with Greg Moshal in 2011, spoke to Dynamic Business about the five-year-old company’s victory at the 2017 NSW Telstra Business Awards. DB:What does the win mean for Prospa and how useful was the experience? Bertoli: We were a Telstra Business Awards finalist in 2015 and 2016, which was very encouraging but it meant there was room for improvement. We’re pumped to have taken out the crown this year – third […]
Ignition Wealth launches low cost high compliance SMSF appropriateness tool
CEO Mark Fordree today announced the launch of the Ignition Wealth SMSF Appropriateness tool, a software technology solution automating the administration of the SMSF appropriateness process. “This is a client-centric solution that ensures that investors considering establishing an SMSF are engaged, educated and empowered. It offers a low-cost easy to use solution.”. Mark Fordree, CEO, Ignition Wealth. Ignition Wealth sets the benchmark in Australia as a business to business digital financial advice solutions provider. This technology solution has been designed to allow advisers, accountants and financial enterprises to reduce the time and cost of the SMSF Appropriateness process. “Our clients are seeking smart technology solutions to drive […]
Optimo introduces robo platform
Optimo Financial is releasing its online financial modelling solution for advisers as it aims to make the provision of goals-based advice more seamless. The Optimo Pathfinder personal finance modelling system is now available to dealer groups, financial advisers and paraplanners, using an algorithm developed with a goal orientated approach. In a statement, Optimo said the solution will optimise clients’ financial strategy to best achieve financial and life goals, accounting for tax and superannuation legislation, family tax benefits, the Age Pension and a host of other factors including the client financial status to develop its strategies. Optimo Financial chief executive Hugh Bannister said: “We believe there is a market niche for […]
Most loans to be sourced digitally ‘within 10 years’, says fintech
A web-based brokerage has predicted that “within five to 10 years” most home loans will be sourced through digital platforms. Re-iterating what he told The Adviser in May, the founder and CEO of online brokerage uno. has predicted that there is “huge potential” for digital broking in the future, despite digital mortgage origination currently representing less than 3 per cent of the mortgage market. Vincent Turner highlighted research undertaken by financial services firm Deloitte in 2016 for the Mortgage and Finance Association of Australia, which found that 27 per cent of broker customers and 34 per cent of direct-to-lender customers would consider making digital mortgage applications, as testament to this […]
Dion and Fincast partner to deliver an integrated portfolio management and exchange trading platform
Dion Global Solutions and Fincast Pty Ltd, announced the availability of their integration and operations partnership, which allows clients of Fincast’s cutting edge goal based advisory and portfolio modelling platform to obtain account and holding details from Dion’s rapidly expanding TradeCentre™ platform, perform guided modelling of the portfolio and then automatically generate trades based on agreed investment models and investor’s preferences, greatly streamlining implementation and back office operations for Fincast’s and Dion’s clients. Further, Dion and Fincast have created an operating partnership which sees accelerated improvements in productivity and cost savings for clients through the consolidation of the infrastructure and operations for the SaaS versions of our respective platforms. […]
