Search Result: max id

The fintech transforming the cash investment sector for advisers

While investing cash as part of a client’s defensive investment portfolio is a necessity, many advisory businesses find the current lack of choice to be challenging. Traditionally the time taken to action cash investing, incremental costs together with laborious paperwork outweighed the effort by the adviser and the ability to enhance returns for the client. Cashwerkz, a leading edge Fintech company has developed a platform for advisers who wish to maximise earnings on defensive cash allocations, whilst simplifying the administration time to establish, transact and manage term deposits. Cashwerkz Relationship Manager, Lisa Gregory, explains “The combination of low interest rates and an increased administrative burden have made it far more […]

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Oct
19

Afterpay surges as sales head for $1.5b

Lay-by payments service Afterpay Touch says its underlying annualised sales are on track to surpass $1.5 billion as more major brands sign up. The fintech’s first quarter sales hit $367 million, up from $271 million in the fourth quarter of 2016/17, and comes after Target, Luxottica and Petbarn recently adopted its online payments system. Shares in Afterpay jumped 48 cents, or 10.2 per cent, to $5.18 on the company’s quarterly sales update. Afterpay says more than 8,600 merchants are now on board, up from about 6,000 on June 30. And more brands are expected to join up in the second quarter. “Significant development of partnership and platform initiatives in the […]

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Oct
17

MyDeal partners with Prospa on new business loans service

Online retail marketplace MyDeal.com.au has launched a business loans service in partnership with fintech lender Prospa, offering unsecured loans which it claims will accelerate the growth of retailers. According to MyDeal Marketplace, retailers who list their products through it can now apply for a business loan of up to $250,000 directly through their supplier management system and “in many cases receive the funding in under 24 hours”. MyDeal.com.au chief executive Sean Senvirtne says MyDeal Marketplace loans are designed to assist with a variety of common scenarios which small businesses face including expansion costs and the need to access rapid funding to secure an opportunity. Senvirtne says the decision to diversify […]

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Oct
10

SocietyOne sets new record with triple milestones in 2017

SocietyOne, Australia’s pioneering and leading consumer marketplace lender, has set new records for lending with growth in 2017 already surpassing the level of volumes for the whole of 2016.   Total lending since the company started operating five years ago has now topped $350 million as the current loan book also reached $200 million for the first time in SocietyOne’s history.   These were new records for a consumer finance marketplace lender in Australia with SocietyOne having originated more than twice the loans than that of the company’s nearest competitor. SocietyOne has now enjoyed seven successive quarters of strong growth as it scales up.   New lending to borrowers in […]

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Trustees Australia and fintech innovator Cashwerkz announce merger

Trustees Australia and Cashwerkz have announced a strategic merger of the two companies, that brings together 31 years of traditional financial services experience with intuitive technology. The partnership will transform the way Australians manage their cash, term deposit and fixed income investments. Traditionally term deposits can take up to seven days to be placed, with Cashwerkz, investors can place a term deposit in as little a few minutes. “By moving the entire investment process online, while remaining regulatory compliant, we not only save investors time and effort, but also help maximise their cash investments. Term deposit rates are fairly low at the moment, which is why it’s more important than […]

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Aug
10

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 […]

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Prospa raises $20m from Partners for Growth

Online business lender Prospa has raised $20 million from Silicon Valley-based Partners for Growth through a tailored debt facility that will allow it to ramp up loans and further develop its technology allowing credit assessments to be made in seconds. Prospa, which has lent more than $400 million to small businesses, up from $250 million in February after a strong fourth quarter, has deals with 4000 distribution partners, including finance brokers and cloud accounting platforms. It also has a referral partnership with Westpac Banking Corp. Prospa chief financial officer Ed Bigazzi said some of the new capital will be used for product development, including in invoice financing, and a stronger […]

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