Aussie online investors grow in Q4, despite volatile markets
Despite a relatively volatile market towards the end of 2018, online traders in Australia were not deterred, leading to an uptick in the population of online investors in the second half of 2018, according to the 2018 2H Online Broking Report by Investment Trends. Specifically, for the six months to December of 2018, the population of online investors in the equities and exchange-traded fund (ETF) segments increased by 4.2 per cent from 720,000 up to 750,000, the report said. According to the report, which surveyed more than 8,000 Australian online investors in the broking market, during the final quarter of 2018, which was particularly volatile, many online traders continued to […]
Wisr added to Platform Finance panel as it strengthens business team
Wisr, Australia’s first neo lender (ASX: WZR), has joined the consumer lending panel of one of the country’s biggest finance broker communities and strengthened its business teams. Platform Finance, part of the Consolidated Operations Group (ASX: COG), has finance brokers across Australia and will now be able to offer their consumer clients access to Wisr’s unsecured personal loans. This appointment follows a period of real growth in Wisr’s personal loan business through the broker channel. The company has recorded 46% quarter on quarter growth in loan settlements through the broker channel as at 30 September 2018. Today more than half of all finance brokers are able to assist clients with […]
Lender looks to triple growth through broker channel
A marketplace lender has surpassed its target for loan origination through the broker channel, and is aiming to triple growth through the third-party channel in the next year. Speaking to The Adviser, the CEO of personal loan provider SocietyOne, Mark Jones, reflected on the success of the brand over the 2018 calendar year, particularly referencing its renewed relationship with brokers. In June of this year, the company established its first broker partnership and set itself a target of seeing up to $4 million of loans from the channel by the end of 2018. However, Mr Jones outlined the strength of the third-party, noting that this channel’s originations had already surpassed […]
Australian payments fintech start-up Verrency secures major deal with the fastest growing bank in the United Arab Emirates
Global payments innovation service and Australia-based fintech Verrency is enabling payments innovation for the fastest growing bank in the United Arab Emirates, Liv., Emirates NBD’s lifestyle digital bank for millennials. The agreement will enable Liv. to leverage Verrency’s cloud-based payments service and fintech partners to enable cost-effective delivery of a multitude of value-added services to customers. Launched last year, Liv. is a mobile-only bank offering a lifestyle-based banking experience targeted at millennials. It is also the fastest growing bank in the country, with over 150,000 customers as of date. Verrency’s Commercial Director for Asia and Middle East, Aaron Oliver, said: “Verrency will enable Liv. to deliver on its innovation-led proposition […]
Wisr tech upgrades lower average interest rate, drive growth and creditworthiness
Wisr, Australia’s first neo-lender (ASX: WZR), saw continued strong loan growth and customer acquisition in the first quarter of the 2019 financial year. Between July and September 2019 the company saw loan origination value grow by 49% when compared to the previous quarter, as well as 22% increase in overall loan volume. The result is the third consecutive quarter that Wisr has recorded quarterly loan growth in excess of 45%. The company also announced it had surpassed $50 million in loan originations since beginning operations, almost half of which were written from the beginning of 2018. Anthony Nantes, Chief Executive Officer, Wisr said borrower shift away from traditional lenders, brand […]
Aussie fintech startup building an investment platform for rapidly growing global retire early movement
Whether you’re an intern, executive or somewhere in between, everyone wants the option of not having to work, the sooner the better for most. While the end goal is easy to picture, the path to get there seems very complicated, or even imaginary. Housing affordability, negative gearing, royal commissions and fund returns are topical stresses for older Australians. A bigger issue is younger generations not building savings in a world of credit and higher discretionary spending. Younger people work as hard as past generations but have different relationships with. Bad financial discipline results in declining happiness as financial pressure builds and is passed on to future generations. But, according to […]
Fintech revenue growth surges: EY census
Local fintech start-ups are confident revenue growth will continue on the back of the banking royal commission and a majority are planning to expand overseas as more funding is pumped into the sector, although a mostly optimistic outlook is tempered by fears of a skills shortage. Access to developer talent is a concern to almost half of the nation’s fintechs, who also want better access to the government’s research and development (R&D) tax incentives to drive growth. The results are in the annual EY Fintech Australia Census 2018, generated from an online survey of 151 start-ups, which was released on Monday at FinTech Australia’s Intersekt festival attended by 500 people in […]
Fintech Investment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018-2025
Global Fintech Investment Market to reach USD 152.94 billion by 2025. Global Fintech Investment Market valued approximately USD 39.6 billion in 2017 is anticipated to grow with a healthy growth rate of more than 18.40% over the forecast period 2018-2025. The growth of an alternative business model that can both replace and complement traditional payment practices is a key growth driver for the fintech market growth. Major banks are helping to incubate, invest in, or partner with FinTech companies. For instance, Oradian, a software provider caters to organizations that offer financial services to low-income individuals. Oradian develops core systems that help microfinance institutions manage their clients efficiently and facilitates day-to-day […]
