Identitii partners with Trace Financial to simplify new financial message standards migration for SWIFT member banks
Identitii Limited (ASX:ID8), an Australian FinTech enabling the secure overlay of transaction level detail on top of financial messages using a private blockchain, has partnered with leading message transformation software provider Trace Financial Limited. The product partnership involves the integration of Trace Financial’s established message translation software, Transformer, with Identitii’s innovative overlay platform, Overlay+, to simplify the migration to new ISO 20022 financial message standards for financial business transactions. Headquartered in London, Trace Financial has technical expertise in SWIFT messaging, and has been providing software solutions to bank grade clients for over 30 years. Identitii will leverage Trace Financial’s sales network and conduct joint marketing activities for the adoption of […]
DIY super funds getting into Bitcoin and other cryptocurrencies
More do-it-yourself super funds are investing in cryptocurrencies as interest in investing in digital currencies rises among investors generally. While no hard data will be available until later next year when the Tax Office releases figures for the first time on how much cryptocurrency is held by funds, industry players say there are more self-managed super funds (SMSFs) investing. Fred Schebesta, a co-founder of comparison site Finder as well as digital currency exchange HiveEx, notes a marked increase in enquiries from SMSFs looking to buy cryptocurrency. And Adrian Przelozny, the chief executive of Sydney-based digital currency exchange Independent Reserve, has about 6000 self-managed super funds on the platform, with half […]
Gobbling up your bills one at a time: how startup Gobbill is automating bill payment through AI
So, here’s an idea: imagine a digital financial assistant powered by artificial intelligence that digitises your bills and schedule payments, all whilst checking for fraud. Pretty cool, right? That’s what Gobbill, a fintech startup that automates bill payments for small businesses and households does. But that’s not all. Shendon Ewans, CEO and Co-Founder of Gobbill, says, “You can link any Australian bank account, and it will debit that account, so you don’t have to tell every biller your bank account details. Essentially, the product allows you to centralise your direct debits in one place.” In addition, the ability to pay your bills in cryptocurrency will be coming soon thanks to […]
AI, VR and fintech in focus as Microsoft takes on its first Aussie start-ups
Artificial intelligence and financial services based start-ups provide the majority of the first cohort of global tech giant Microsoft’s first Australian accelerator program. The program, known as ScaleUp, was announced in February and targets start-ups that have typically received initial funding and are looking to expand. It promises to help fast-track their growth by linking them with potential customers, Microsoft partners and technical guidance, without giving up any equity. The Australian start-ups selected are Auror, Daisee, FreightExchange, Hyper Anna, InDebted, Kapiche, Karbon, Makers Empire, Teamgage, SimpleKYC, Start VR, VendorPanel and Winimy AI. Many have secured funding in recent times, including virtual data scientist Hyper Anna, which raised $16 million from […]
Stone & Chalk startup Metamako is acquired by Arista Networks
Arista Networks, an industry leader in software driven cloud networking solutions for large datacenter and campus environments, today announced that it has acquired Metamako, a leader in low-latency, FPGA-enabled network solutions. Arista achieved early success in the financial services market with low-latency cloud networking. Arista’s ultra-low latency switching platforms combined with EOS® (Extensible Operating System) enables resilient cloud networks for transporting data, multi-media, storage and compute traffic. The acquisition of Metamako will play a key role in the delivery of next generation platforms for low-latency applications. “It’s with great pleasure that we bring Metamako’s award-winning, ultra-low latency technology to the Arista family of platforms,” said Anshul Sadana, Chief Customer Officer for Arista […]
ASX pushes back the start date for its blockchain
ASX has pushed back the “go live” date for its blockchain to clear and settle the Australian equities market by around six months, after market participants expressed concerns about meeting an ambitious timeline given the complexity of the technological change. Market players used a consultation process to express “a strong interest in better understanding the potential benefits that a DLT [distributed ledger technology]-based system can offer”, ASX said in a new “scope and implementation plan” for its replacement of the CHESS system. Brokers and investors want as much time as possible to get their heads around the technology, and to determine what investment spending will be required to connect with […]
Australia buzzes again with 1st solar-powered bitcoin mining setup
The investment in the Australian FinTech sector has risen remarkably as the Australian FinTech ecosystem is becoming increasingly diverse. We already stated in our recent post that Fred Schebesta, the co-founder of one of Australia’s largest tech stories (Finder) has publicized their upcoming “multibillion-dollar” project plans to establish the “first crypto bank of Australia”. Now, the latest edition is that Australian Ben Tan, the co-founder of Hadouken Pty Ltd, intends to set up 1st 20-Megawatt Solar Farm in Collie which is geographically located in Western Australia to power a Bitcoin mining operation. Reports indicated that the submission has been approved and granted states authorities. The new facility is being developed by data […]
Raiz chooses Versive’s AI-powered cybersecurity solution to strengthen financial security and compliance
Versive, Inc., an award-winning AI-based cybersecurity company based in Seattle, U.S, today announced that Raiz Invest, a mobile first micro-investment platform based in Australia, is using the Versive Security Engine (VSE) to help protect sensitive customer data and comply with financial regulations. Raiz provides customers an easy way to regularly invest either small or large amounts in one of six portfolios of varying risk levels. The company has 164,000 active customers in Australia, and approximately $200 million in funds under management, growing at over 20 percent each quarter. As a fast-growing financial company, Raiz wanted to increase its level of security. The company already offers bank-level security to consumers through […]
