5 Aussie fintech firms that are shaking up the home loan business
by Richard Whitten, finder.com.au The home loan industry is about to change in many ways with these Aussie startups leading the way. The home loan market is a multi-billion dollar industry that hasn’t yet seen many of the same disruptions as other industries. But that’s about to change. Fintech companies boasting apps, algorithms, blockchains and automated platforms are all promising to make the process of buying a house easier and faster.Here are five Aussie fintech companies who are poised to shake up the home loan market. Tic:Toc Tic:Toc launched earlier this year with a headline grabbing promise: the 22-minute home loan (application that is, not your repayments). This startup’s promise […]
Fintech to link banks, brokers and regulators
Australian fintech MoneyCatcha has partnered with global bank HSBC in a trial of its two blockchain platforms with the aim to improve loan turnaround times and reduce compliance spending for the banks. MoneyCatcha has developed loan processing platform Homechain and regulatory risk review tool Regchain which are both powered through the same internal blockchain engine. The fintech has partnered with HSBC Bank to trial the use of its Regchain software which helps regulators capture and review information from lenders through regular reports detailed at a level that each lender is comfortable with, CEO and founder of MoneyCatcha, Ruth Hatherley told Australian Broker. “We are completely agnostic in terms of how […]
The 14 Australian fintech startups chosen for KPMG’s new accelerator program
KPMG Australia today launched mLabs, an accelerator to connect credit unions and mutual banks with some of Australia’s most promising fintech startups. The program follows the successful Energise accelerator run for the energy and natural resources sector last year. The program will initially be used by seven Australian mutual banks and credit unions: Beyond Bank, CUA, Greater Bank, Heritage, IMB Bank, Police Bank and Teachers Mutual Bank. The KPMG Mutuals Review 2015 found that mutuals are well placed to implement new technologies and ideas and to collaborate with fintech startups. “KPMG mLabs is designed to catalyse this process,” says James Mabbott, head of KPMG innovate. “It will be a platform […]
Mutual banks back fintech accelerator mLabs
Member-owned credit union CUA will turn to young, digitally savvy entrepreneurs to help it address a gap in its business: luring in more young, digitally savvy customers. The Queensland-based company is one of seven mutual banks that have signed up to a new fintech accelerator program run by professional services firm KPMG. The mLabs 12-week program will connect the mutual banks with 14 start-up companies in an attempt to promote innovation. Beyond Bank, Greater Bank, Heritage, IMB (Illawarra Mutual Bank), Police Bank, and Teachers Bank have signed up alongside CUA to work closely with the start-ups to come up with solutions to sector-wide issues, and create prototype products and services. […]
