Why these giant Chinese companies could destroy Australia’s fintech ambitions
Fintech companies are some of the hottest startups around right now. Incredibly, more than 20 are now valued over $US1 billion. Australian credit reference fintech, Veda, might get bought for $2.2 billion. The possibilities offered by fintech are enormous. Mobile payments, payment terminals, smart contracts, smart bonds, P2P lending and crowdsourcing are all examples of new technologies that pose a risk to core services provided by the financial establishment. This is why they want in. According to some, Australia has the potential to be a leader in the sector. Australian super funds are investing heavily, with First State Super launching its own venture capital platform just weeks after putting $110 […]
Why Fintech Is The Most Important Industry Right Now
This is a fantastic article on Australian FinTech. And it’s also great information to pass onto those who don’t understand what FinTech is and are unaware of how they can benefit from using Australian FinTech products. Fintech is beginning to disrupt the financial world as we know it. The financial industry is now more focused than ever on technological innovation than at any other time. It’s so important, Malcolm Turnbull referred to it in his first speech as PM. But, for those unfamiliar with the term, here’s a quick explainer. Put simply, Fintech is financial technology; a digital revolution. It’s about major changes to asset management, business and personal loans, […]
Veda doesn’t disappoint with profit up almost 14pc
Data and credit check company Veda Group has just beat market expectations with a 13.8 per cent rise in pro forma profit to $78.4 million for 2015, thanks to strong revenue gains.Revenue grew 12.2 per cent to $338.8 million, also just above consensus forecasts of $336 million, up from $302 million in 2014. This was in part driven by growth in the company’s business-to-consumer and marketing data business. Veda has made a number of acquisitions in this area. Source: Veda doesn’t disappoint with profit up almost 14pc
IAG makes ‘smart move’ to name Peter Harmer as innovation boss
Insurance Australia Group has appointed former commercial insurance boss Peter Harmer as chief executive of its new digital innovation hub, as the $14.4 billion insurer ramps up its technology drive. Source: IAG makes ‘smart move’ to name Peter Harmer as innovation boss
FinTech’s approach to Payments
Payments Advances in the way we carry out payments represents the birthplace of FinTech. From the first credit card transactions carried out by Diners in the 1950’s there has been progression in the way we make payments. This means that the landscape for payments is a varied mix of new and old as well as large incumbents and tiny startups. It is also a hotbed of acquisitions and mergers. New approaches to payments are wide spread and have been the focus of banks and credit card companies for a long time. We have come a long way from the carbon copy credit card ‘machines’ some might remember from the early […]
