Australian fintech Avenue announces new CEO to boost launch of challenger SME bank
Australian fintech Avenue is preparing to launch a dedicated bank for small business after securing former Commonwealth Bank executive George Confos as CEO.
Is the Bendigo/Up tie-up an industry benchmark?
Bendigo Adelaide Bank have been winning on the customer acquisition front through its digital bank Up.
The 2019 Finder Awards winners!
The 2019 Finder Awards winners have been announced which many Aussie fintechs collecting awards!
The 2019 Finder Awards finalists have been announced – and there’s lots of Aussie fintechs on the list!
The 2019 Finder Awards finalists have been announced – and there’s lots of Aussie fintechs on the list!
Big four banks consider creating their own digital brands
Each of the big four banks have considered launching new digital bank brands to attract new, young, digital-savvy customers. Apart from National Australia Bank’s UBank, the plans have been non-starters, getting lost among layers of bureaucracy, management changes and restrictions on new investment. But the pending launch of Volt Bank, which on Tuesday received an unrestricted banking licence from the prudential regulator, and with Up already in the market, the majors might be forced to reconsider whether creating entirely new standalone digital brands, or partnering with emerging players in the emerging “neobank” space, is needed to stay on the front foot in the fast-moving world of digital banking. NAB is […]
Digital banking and neobanks
If all you’ve ever known is dollarmites and the big four, the idea of an online bank may seem a bit intimidating to you. But as banks roll out new app features and handy online services, the reliability of online banking grows, and makes room for digital banks and neobanks to emerge. If you’re curious about the world of online banks, we’ve answered some frequently asked questions below. What is digital banking and what online-only banks are there in Australia? Digital banks, or online-only banks are exactly what they suggest, banks that operate online through a computer or app on your phone. This means they don’t offer in-branch service like […]
2018 Budgeting & Savings Apps worth checking out
Looking to take control of your finances, but don’t know where to start? Your smartphone could possibly help you, thanks to these new budgeting and savings apps that have grabbed the public’s attention. According to a recent study by the Australian Bureau of Statistics, Australia’s average household savings ratio (the ratio of income saved to household net disposable income) is currently at a record low of 4%. Furthermore, a study by UBank found that in 2017, two million Australians had less than $1,000 set aside in their savings accounts. There’s no doubt that saving money, tracking expenses and sticking to an allocated budget can be tough, not to mention that […]
New record as fintech funding hit $5.4bn globally in Q1
Mega-rounds are back in fintech as 12 firms raised investments of more than US$100m each. Fintech funding continues to rise and rise as an investment class with US$5.4bn across 323 deals was raised globally in Q1 of 2018. According to CB Insights’ Global Fintech Report Q1 2018, global fintech activity hit a new record during the quarter. The US saw the largest boost in deals while Europe saw fintech deal activity dip to a five-quarter low. South America is already a region to watch as funding raised in the first quarter of 2018 of US$271m surpassed the entire funding total for 2017. Funding saw a boost from a US$150m mega-round […]
