Australians essentially are trading with one hand behind their back
The CEO of a fintech start-up has said Australian traders need to consider exposure to international markets, arguing that those who do so are “several steps ahead”. Speaking to Nest Egg, the CEO of the self-described “shop for shares”, Stake’s Matt Leibowitz, said while it always comes down to strategy, Australian investors who limit themselves to local opportunities tend to be “playing with one hand tied behind your back”. Reflecting on this week’s markets volatility, he said traders need to have the tools to be able to profit from opportunities like down-turns, whether traders predict such down-turns to be a fluctuation or a trend. “Whether you want to trade long, […]
Marketplace lender reveals big plans for broker channel
MoneyPlace CEO Stuart Stoyan is banking on Liberty’s broker relationships and funding capabilities to execute an ambitious strategy for the widespread distribution of personal loans through the third-party channel. Few marketplace lenders have been able to successfully crack into the Australian broker market. Yet peer-to-peer lenders, fintech players and alternative online funders offering personal or SME loans are now a well-established feature of the Australian lending landscape. According to KPMG, Australia has overtaken Japan as the second-largest alternative finance market in the Asia-Pacific region, growing by 53 per cent in one year to US$609 million ($774 million) in 2016. While home loans are the mainstay for mortgage brokers, Liberty CEO […]
Stuart Stoyan is FinTech Australia’s new chair
Stuart Stoyan is appointed FinTech Australia’s new chair as Simon Cant steps down Stuart Stoyan, who is the founder and CEO of Melbourne-based fintech company MoneyPlace, has become FinTech Australia’s new chair after the association’s founding chair Simon Cant decided to step down. Mr Cant led the founding of FinTech Australia in November 2015. He authored the initial fintech call to action which made the case to government for fintech to become a national innovation priority in the face of global financial services disruption. At the Treasurer’s invitation, Mr Cant also led the development of FinTech Australia’s initial reform priorities agenda in January 2016 which informed the Australian Government’s Backing Australian […]
The search for bitcoin’s founder: who invented cryptocurrency?
The identity of the pioneering cryptocurrency’s founding father(s) has remained a mystery since a whitepaper published by a programmer going by the pseudonym Satoshi Nakamoto surfaced in 2008. However, there are plenty that have worked with the bitcoin founder to make it a success. Satoshi Nakamoto ‘What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party’ – Satoshi Nakamoto, 2008. For a cryptographically secured digital currency built on a system that requires no central authority, it is unsurprising that its creator has stayed in the shadows. […]
Milestone for equity crowdfunding in Australian with ASIC licence approval
OnMarket will be one of the first businesses in Australia to raise capital this year through ‘the crowd’, following the Australian Securities and Investments Commission’s approval of its equity crowdfunding licence. Equity crowdfunding brings entrepreneurs and retail investors together for the first time and is only now possible following today’s licence approval. Equity crowdfunding enables Australian retail investors to contribute as little as $50, or as much as $10,000 in a business. The new licenses follow federal legislation announced last year. OnMarket will bring investment opportunities through Australian businesses to ordinary Australians through its online platform and app. Investors will be connected to Australian businesses like Revvies, which […]
Yellow Brick Road and Prospa join forces to boost small business
Yellow Brick Road has added Australia’s leading online lender, Prospa, to its lending panel in order to diversify its offering for small business customers. “A large number of our clients are small business owners,” Mark Bouris, Executive Chairman of Yellow Brick Road said. “We understand that the financial needs of a small business are unique, and it makes sense to offer new ways to fund their growth.” “I talk to small business owners all the time, and funding is an issue that comes up time and time again. Either the bank says no to a loan, or it say yes but wants the owner to put their house […]
Do you know how your Bitcoin will be taxed?
Bitcoin has enjoyed a meteoric rise and could be in for a similarly spectacular fall.Either way, trading in Bitcoin has tax consequences. And staying out of trouble with the Australian Tax Office means knowing whether you are a hobbyist or serious investor, advisers say. As far as the ATO is concerned, there are broadly two reasons for purchasing Bitcoin: personal consumption and speculative gain. How you are taxed will depend on which category you fall into and, most importantly, how the ATO will view your activity. Above all, every single transaction needs to be fully documented, including not only “what”‘ is purchased, but “why” it was purchased, Hall & Wilcox […]
TrueProfile breakthrough in behavioural economics and profiling launches in Australia
Capital Preferences, a leading behavioural economics, decision science and financial technology business founded in the United States, announces the launch of TrueProfile.com.au – a SaaS behavioural profiling and portfolio assessment platform for Australian advisers. The award winning platform uses game theory and advanced economics to replace unscientific client risk questionnaires and data collection methods. TrueProfile is built on the reality that clients cannot accurately state their preferences for risk, they can only truly show you the risks they would be willing to take by making decisions. The client experience is gamified and reveals, in minutes, how customers behave when facing risk, spending choices and their goal priorities. Streamlining the acquisition […]
