Growth, diversification, consolidation: AltFi Summit 2018 leaders offer their predictions
Fintech leaders from across the globe are converging for the AltFi Australasia Summit in April, to discuss the most urgent issues and trends impacting growth, diversification, and consolidation in the global alternative finance industry in 2018. Keynotes, panellists and sponsors will include alternative lending firms, digital banks, industry influencers and regulatory representatives, such as OnDeck, KPMG, Ratesetter, NowFinance, Equifax, Macquarie Capital, NAB, Moula, MoneyPlace, Credible, BGA Digital, Moneycatcha, Creditease, Othera, Liberty Home Loans, uno Home Loans, and FinTech Australia. It will be the third year the Summit has run in Sydney, amassing each yeah an ever-larger following of loyal attendees. Event owner, Glenn Hodgeman, believes momentum has built so strongly […]
Use fintech apps to grow your wealth
Fintech (finance-technology) startups have exploded in the past five years, shaking up traditional product and service offerings in banking, insurance and superannuation; industries long overdue for disruption. Digital “non-bank” platforms and apps are promising to demystifying complex financial processes, personalise customer experience and offer round-the-clock convenience. Whether you’re paying off debt, budgeting, getting started with investing or saving for retirement, there is likely to be a fintech app to help you. However as digital technology replaces human decision making, we need to ensure that the algorithms that will increasingly decide our financial fate do not reflect the unconscious and often unhelpful biases of their creators. As artificial intelligence expert Clara […]
First Growth Funds raises funds for blockchain
Investment company First Growth Funds (ASX:FGF) has announced it will raise $3.45 million to expand into the blockchain sector. The company has agreed to issue more than 282 million shares to Australian and international investors, representing just under 25 per cent of the issued share capital of the company. The placement is led by blockchain technology company Blockchain Global which will hold 10 per cent of the issued capital on completion of the placement. The partnership with Blockchain Global is expected to provide strategic deals for blockchain-related investment opportunities. To read more, please click on the link below… Source: First Growth Funds raises funds for blockchain | Finance News […]
Bank rules get tougher so technology’s importance grows
Borrowers who embrace apps and budgeting technology that tracks their spending are giving themselves a better chance of grabbing a good loan amid a crackdown by regulators. Stricter rules around loan serviceability means people able to prove what they spend are getting the upper hand. Financial regulator APRA last month called for more realistic living expense details on loan applications and increased vigilance by lenders. People’s Choice Credit Union spokesman Stuart Symons said reliable records were becoming increasingly important, and borrowers could help themselves “by being on the front foot”. “If you can’t show what you spend, a lender may look instead to an estimate that shows a higher level […]
Fintechs are the fastest growing startup in Australia
Financial tech-innovators, or fintechs as they’ve become known, are dominating the Australian startup sector with Sydney their hub of choice, a new report shows. And true to the nature of the startup industry, it is disruption in the traditional banking sector that is fuelling the growth of fintechs – as finance-savvy professionals exit the established institutions and put their skills to use in new ventures. The 2017 Startup Muster Report, released on Wednesday, shows fintech startups were the fastest-growing type of business in the startup sector. Fintech Australia chief executive officer Danielle Szetho says she isn’t surprised by result following recent moves by the federal government to open up the […]
Finch raises $2.25m for Gen Y finance app after ‘proving it can rival’ Silicon Valley fintechs
Australian alternative finance market grew by 53% in 2016: Report
The Australian alternative finance (alt-fi) market grew by 53% in 2016, despite declines in equity crowdfunding activity in the face of regulatory uncertainty, according to a study released in September. The study was undertaken by the Cambridge Centre for Alternative Finance, the Tsinghua University Graduate School, the Australian Centre for Financial Studies at Monash Business School and KPMG. It found that the Australian alt-fi market has grown 53% over the past 12 months. According to the Cultivating Growth: The 2nd Asia Pacific Alternative Finance Industry Report, which surveyed 628 alt-fi companies, Australia overtook Japan in 2016 to become the second largest alt-fi market in the Asia Pacific, with a market […]
