Australian FinTech company profile #37 – CoinJar
CoinJar is a digital currency account that makes it easy to acquire and use cryptocurrencies through our app and debit card.
Australia’s Consumer Data Right to open banking
by Doug Morris, CEO, Sharesight In collaboration with Fintech Australia, Sharesight has officially endorsed a submission on the Treasury Laws Amendment (Consumer Data Right) Bill 2019 that seeks to create the Consumer Data Right (CDR) with an amendment to the Competition and Consumer Act 2010. The Consumer Data Right (CDR) will mandate that banks and financial institutions (before later extending to telecommunications and utility providers) make it easy, safe, and practical for consumers to share their data with third parties — including competing services. It’s one of several critical ingredients needed to improve the financial outcome for Australians. Open Banking initiatives are already in place in the UK, and progress […]
Wisr sees strong support for new debt reduction app
Wisr (ASX: WZR) announced more than 4,000 Australians have downloaded the new Wisr App during its testing phase, which automatically ‘rounds-up’ digital spare change to pay off debt faster. The app is the newest financial wellness product to be offered by neo-lender Wisr and is the first in Australia to ‘round-up’ spare change with a focus on credit card or mortgage debt reduction. Wisr App can be used by customers of most Australian banks. Wisr App links a user’s everyday transaction account, rounding-up purchases to the nearest dollar and automatically paying the funds off a nominated debt – including credit card debt or mortgage debt with any financial institution, or […]
The reasons Bitcoin is still first in the ranks
After a decade, Bitcoin is still ranked number 1 on the list of cryptocurrencies. No other coin has come close to taking its crown and reaching the level of the Bitcoin price. In fact, in 2018, it seems to be cementing its place at the top rather than slipping. We know that Bitcoin is just a protocol and that protocols can easily be copied and forked to create new cryptocurrencies. Many of those new currencies seem to have a technological advantage over Bitcoin. So what is it about Bitcoin that keeps it at the top? Bitcoin is Still Number 1 Despite everything that has happened, Bitcoin has retained over […]
Paying bills just got easier with Easy Bill Pay
Financial services company, FSA Group LTD launches Easy Bill Pay, a bill payment service which allows users to pay and store bills and organise their finances quickly, easily and conveniently. As many as a third of Australians pay their bills late and this can cost them money and affect their credit report. On average a late fee of $24 is charged and that adds up. A survey conducted by a major bank in 2016 concluded that Australians were charged $286 million dollar in late fees in 2016. There are many reasons people pay their bills late and it can be as simple as forgetfulness, disorganisation, time poor or lack of […]
Millennial super fund Spaceship has raised $19.5 million – and tackled the biggest criticisms it faced
Millennial superannuation app Spaceship has responded to critics by cutting fees, increasing its exposure to tech stocks, launching a new investment option and forming an advisory board. Some in the finance industry argued the 1.6% fee that the startup charged was not competitive. Another criticism of Spaceship, which opened to applications early this year, was that while it was marketing itself as a tech- and future-focused super option for millennials, it wasn’t actually investing in tech stocks any more than traditional pension funds. Stockspot founder Chris Brycki, in a column for Business Insider in March, called Spaceship “clever marketing”. “They get full marks for the use of flashy marketing and […]