Breaking down blockchain’s potential for cross-border payments
By Simon Banks, Hyperwallet’s Managing Director and SVP of Asia-Pacific Blockchain has been labelled a disruptive force that could transform entire industries and even have potential to shake the foundations of economic and social systems. With the advent of cryptocurrencies, the banking and financial services sectors were among the first to feel its effects. In the payments space, it is important to separate the underlying distributed ledger technology from the cryptocurrency hype, and to understand the problems blockchain can solve, as well as the ways in which it can transform payments without disregarding barriers to implementation. Cross-border payments, a space that currently begets frustration but is increasingly dominated by innovative […]
What Every Investor Should Know Before Buying Cryptocurrency
by Mary Ann Callahan If you are here, then you have probably grown curious enough to find out more about the next big investment opportunity everyone has been screaming about. Techies call cryptocurrency the money of the future or digital gold, and skeptics refer to it as a bubble that will burst anytime soon or the biggest digital scam ever. Needless to say, beyond the initial noise that surrounded the global rise of cryptocurrencies, there seems to be a growing interest and increasing curiosity about the potentials of these digital coins. New investors are attracted by the fact that cryptocurrency has managed to turn many who have been bold enough […]
Verrency boosts commercial offering signing ten strategic Fintech partners
Australian global payments provider Verrency has signed ten strategic FinTech partners in just six weeks as it continues to gain global traction. Founded in 2016, Verrency enables banks to cost-effectively deliver the latest value-added payment capabilities and curated FinTech services – via V+, their FinTech marketplace – to their customers without replacing or heavily modifying their existing payments infrastructure. As part of the recently signed partnership agreements, Verrency enables these signed partners to easily distribute their services to global financial institutions via Verrency’s API platform. Some of Verrency’s newly signed FinTech partners include: UK-based ComplyAdvantage, which provides real-time screening and monitoring technology powered by artificial intelligence to help companies comply […]
Moneysoft calls on financial planners to help clients understand their expenditure following Royal Commission revelations
Financial planners need to broaden their role and help clients understand their household expenses in the wake of the Royal Commission’s damning revelations. Australian households have racked up record levels of debt as interest rates have been cut to historic lows in recent years, but the Commission heard that most lenders still over-rely on the poverty-level HEM benchmark that underestimates true living costs. “The Financial Services Royal Commission has raised many disturbing issues across the banking and advice industry. It will inevitably lead to widespread and much-needed reform,” said Moneysoft CEO Peter Malekas. “However, we shouldn’t wait for the final report in 2019 to reassess as an industry, what we […]
Fintech intro for Stockbrokers 2018 Annual Conference
Next week will see 500+ local and international Stockbrokers and Advisors descend on Melbourne for the purpose of community enlightenment and networking.
Ease of use powers take-up of the Moneysoft Lite cash flow solution
Time poor advisers and their clients have embraced the streamlined version of Moneysoft’s personal financial management tool, with Moneysoft Lite growing to 20% of active users in less than two years. One in five Moneysoft subscribers now uses Lite, which was launched in late-2016. It caters to advisers and other finance professionals who want a simple, cost-effective way to introduce ‘cashflow as a service’ to their clients. The Lite platform enables advisers to build engagement with different types of clients at varied stages of the financial life cycle, said Neil De Beger, Moneysoft’s head of distribution and marketing for SME. “People want to have clear visibility of their finances without […]
The data rush is on as start-ups get set for open banking
Paul Chapman believes banking is only going to get more complex. “We like to say Japan is living in the future,” he says. “People have a very fragmented life with three to four banks and several different financial products. There is so much complexity and we think that is happening in Australia.” The Australian co-founder of financial management app Moneytree, which is based in Japan and launched in Australia last year, is one of a number of start-ups jostling for position as the government looks to introduce open banking to Australia. Speaking to Fairfax Media on the sidelines of the Salesforce World Tour in Sydney this month, he said open […]
Australian payments innovator Verrency partners with social media donation platform Goodworld to increase charitable giving worldwide
Social payments charity platform Goodworld and Australian payments innovator Verrency announced a partnership today to bring a charitable component to everyday financial transactions around the globe. The partnership will combine Goodworld’s service with Verrency’s banking payment services to create a new Corporate Social Responsibility offering aimed at major banks. The joint offering will enable bank’s customers to ‘set and forget’ a ‘round-up’ of their debit and credit card transactions to the nearest selected amount (i.e., $1, $5 etc) and to donate the ‘round-up’ amount directly to their preferred charity. Customers then receive real-time reinforcement via mobile notifications from their bank’s mobile app of their donation, along with regular updates of […]
