Banks ‘too slow’ bridging the finance gap
The big banks were on the defensive on Friday due to federal government criticism over their handling of a COVID-19 business loan scheme.
A win for financial inclusion for the ‘unbankable’
Australian fintechs like Jacaranda Finance are enabling financial inclusion through advanced algorithms and machine learning.
Bravura to acquire wealth management software company for $25 million
Listed Australian fintech Bravura (ASX: BVS) is poised to acquire Australian wealth management software company FinoComp for $25 million.
Have you been investing, trading or dabbling in cryptocurrency? If so, get tax advice now because the ATO’s data matching powers just got better!
Now, more than ever, it is important to get the right tax advice about your cryptocurrency dealings before lodging your FY19 tax return and before you are contacted by the ATO.
Big lending fall shows businesses need to investigate crowdfunding options
A significant drop in lending activity during December has illustrated the need for business owners to investigate other ways raise growth funds, including crowdfunding, according to a major Australian crowdfunding platform. According to Australian Bureau of Statistics (ABS) figures which were released today, the value of lending commitments to businesses fell by 9.7 per cent in seasonally adjusted terms in the month of December 2018. This included commercial finance commitments dropping by 9.8 per cent and lease finance falling by 5.7 per cent. The fall in business lending outstripped the reduction in household lending commitments, which went down 4.4 per cent. In the year to December 2018, business lending commitments […]
What’s the deal with equity crowdfunding, and should I do it?
What’s changed? The updated legislation passed on September 12, including an amendment from Labor which means it will come into effect in 28 days. Equity crowdfunding will now be available to private companies, but there are still some restrictions. Companies must have less than $25 million in turnover and gross assets, and funds raised will be restricted to $5 million each year. Startups using the method will also be subject to transaction rules and stringent reporting and disclosure obligations, with annual reports and directors’ reports required. Once companies raise $3 million or more, they will also be subject to auditing requirements. Matt Vitale, co-founder of equity crowdfunding platform Birchal, tells […]
Blockchain is ready for prime time despite its critics
By John Heaton – Moneycatcha CTO Over the last few years the hype around Blockchain has been brought to the forefront via mass entry into cryptocurrencies. This is not too dissimilar to when online trading systems became publicly available in the late 1990s early 2000s. The pattern of behaviour is similar with an opportunity being presented and individuals trying to make a return on investment. As with the online trading systems, there will be individuals who manage to make significant returns on investment but the vast majority made marginal or no returns. Before technology is fully commercialised it endures certain growing pains such as awareness, decision to adopt, initial use […]
Ex-Turnbull adviser Paul Shetler joins Stone & Chalk to teach innovation
Paul Shetler and Alex Scandurra are on a mission: to get boards to stop merely thinking and talking about innovation and to start doing it. Shetler has emerged in his first private sector role after Malcolm Turnbull hired him to run the government’s Digital Transformation Office, which he left in November. He has been convinced by Scandurra, the chief executive of Stone & Chalk, to join the Sydney-based fintech hub for a couple of days a week to advise both tenants and companies wanting to deepen their engagement with new economy. AFR Weekend sat down with Shetler and Scandurra to understand directors’ psyche towards risk-taking and responding to the powerful […]
