Brisbane to play host to Google-powered FinTech startup weekend
In early July, Suncorp’s offices in Brisbane Square will throw open their doors to aspiring entrepreneurs and anyone interested in the fintech industry for a weekend of idea development, teamwork, and financial innovation. Created with the goal of fostering exciting new developments within the financial services industry, startup weekends are “a great way for financial services product owners and innovators to hand some hands on experience creating new and exciting financial products and services” according to co-organiser Adrian Juarez. “There’s never been a better time to be in Financial Services and FinTech. It’s Australia’s largest and fastest growing industry. The scale and speed of disruption is unprecedented and […]
Banking faces massive disruption by fintech says IBM
A new study argues that as the traditional functions of banks become commoditised, value is moving from transactions to relationships. Unfortunately for banks, they face competition from small start-ups and enormous, cashed-up tech giants inserting themselves directly into the relationship with their customers. IBM’s Institute for Business Value has released a fintech report called “Banking at the Brink”, which identifies the finance industry as sitting square in the centre of a perfect disruptive storm. The Institute calls out three challenges. Banks are still struggling with sluggish profits in the aftermath of the Great Recession. A new type of customer, easily dissatisfied and disillusioned, has ever-growing expectations of engagement and improved […]
Winklies, Dorsey Hunt Oz Biz
New York’s Winklevoss twins, the ex-Olympic rowers who famously – and unsuccessfully – sued Facebook for a fortune in 2011, claiming founder Mark Zuckerberg had stolen their idea, have confirmed plans to bring their bitcoin technology to Australia. The twins – Tyler and Cameron – who have since successfully set up a well-regarded bitcoin exchange in New York – have reportedly been negotiating with Melbourne-based Trimantium to help bring their blockchain technology Down Under. Their presence might well be welcomed here, given the problems the local industry has been experiencing, with one outfit, Bitcoin Group, recently refused entry to the ASX for want of an acceptable financial report (CDN, Feb. […]
