ANZ, Wells Fargo test blockchain for cross-border payments
Blockchain technology promises to reduce the time and cost of transferring funds and increase access to liquidity, according to ANZ Banking Group and Wells Fargo. The companies made the comments following the completion of a six-month project that built and tested a distributed ledger for reconciling and settling payments between the two banks. In a recent report on their “proof on concept” the banks said blockchain could “add real value to both the customer experience and the efficiency” of correspondent banking relationships, which refers to deals between global banks over access to local payment systems. “Cross-border payments and correspondent banking are ripe for rejuvenation,” ANZ and Wells Fargo said, pointing […]
FinTech Solutions For Enhanced Income and Economic Growth
Small business plays an important role in innovation and employment, so financial mechanisms that make it easier for small business to grow must be welcomed. P2P Business Lenders are intent on improving small business financing options by connecting investors (i.e. lenders) with a choice of loans in a digital market place. Much like an eBay for small business loans or a match making market. P2P Business Lending is about using technology to make what was once unviable, viable. This article looks at emerging innovators ThinCats and True Pillars as a source of funding for small businesses and enhanced income for professionally managed SMSFs. Technology Makes Small Loans Affordable Small business […]
Xero & CommBank unveil innovations to transform small business banking
Xero today announced the first of many new features to be released with Commonwealth Bank, Australia’s largest bank, designed to enable mutual small business customers to make smart, informed decisions. A world first is the ability to set up direct bank feeds from either platform. Mutual customers of Commonwealth Bank and Xero can choose to start their journey within Xero, or connect from the Xero accounting platform directly within NetBank. This feature also accelerates the processing time of setting up Commonwealth Bank bank feeds for a small business customer from ten days to having the feeds available overnight. It means Commonwealth Bank and Xero customers can reconcile more of their […]
Ignition Wealth superannuation tools drive superfund engagement
Ignition Wealth is Australia’s leading provider of superannuation tools and calculators. Since 2010 our tools and calculators have been used by superannuation funds to drive member engagement and provide excellence in client experience. “With 750,000 members served over the past six years we know that user friendly tools and calculators hold the key to powerful member engagement. Our technology allows superfund clients and prospective clients to do their financial homework while becoming comfortable with the superfund. This leads to a solid growth in the superfund’s business.” Mark Fordree, CEO, Ignition Wealth. The Ignition Wealth wealth management solutions are hosted on the superfund’s own website or mobile app. Recognising […]
HashChing cracks the growth hacking code with young millennials
Growth hacking – the new buzzword for the techies – a growth strategy for businesses heartily embraced by many bold and out of the box startups and denounced by the conventional marketer. Simply put, growth hacking refers to using creative and technical marketing techniques with the sole purpose of growth. Current online users are quite wary of signing up on websites and providing their personal information. A lot of talent and creativity is required to engage them to sign up for a website or subscription; exactly what growth hackers do by organizing cool competitions, building email lists, offering double sided referrals and much more. If you are a start-up planning […]
Australian Startup Rewards Customers Paying Bills with Bitcoin
An Australian startup that acts as an intermediary to enable Australians to pay their bills with Bitcoin is now rewarding customers with a first-of-its-kind loyalty program. Living Room of Satoshi, aptly named after Bitcoin’s pseudonymous creator Satoshi Nakamoto is an Australian blockchain-based payments company that enables its users to settle their bills with bitcoin. Customers can use bitcoin to pay for utilities, home and property rent, school fees, credit card payments and insurance premiums. Now, the payments company has announced a loyalty program which will reap rewards for Australians who choose to make their payments in bitcoin. The rewards include the likes of Apple TVs, PlayStation 4 consoles, Fitbit wristbands […]
