Search Result: lab group

Mar
19

Novatti joins IBM World Wire network as a foundation member

Novatti Group Limited (ASX: NOV) announces it will join IBM Blockchain World Wire1, a real-time global payments network for regulated financial institutions such as Novatti’s subsidiary Flexewallet Pty Ltd. IBM World Wire is designed to optimize and accelerate foreign exchange and remittance services through a New Cross-Border Payments Network Supporting Real Time Payments and Foreign Exchange on the Stellar Protocol. By connecting to the World Wire network, Novatti now has access to a single unified network for foreign exchange and cross-border payments clearing and settlement built on blockchain technology and the Stellar public protocol. This will allow Novatti to offer clients the ability to conduct transactions across additional currencies and […]

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Mar
19

Westpac abandons financial advice

Westpac will get out of the troubled personal advice sector and two of its top executives will depart the bank as it joins its big-four rivals in abandoning the once-dominant model of vertical integration. The bank announced on Tuesday it would exit the high-cost, loss-making business, producing $280 million in savings by 2020. Westpac group executives George Frazis and Brad Cooper will leave the bank as part of the changes. Westpac chief executive Brian Hartzer said most customers did not differentiate between banking and wealth products and just wanted help to buy a home or plan for retirement. “We’re realigning our capabilities into the lines of business where it makes […]

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Mar
13

Prospa momentum continues as loan originations surpass $1 billion

Prospa, Australia’s number one online lender to small business, is pleased to announce its pro-forma results for H1 FY19. Total loan originations for H1 FY19 were $225 million, up 10% on the forecast of $204 million and up 44% on a pcp basis. Total loan originations for CY18 were $436 million, up 13% on the forecast of $386 million and up 51% on a pcp basis. Prospa’s total loan originations have now surpassed $1 billion comprising A$1 billion in Australia and NZ$10 million in New Zealand, delivered to over 19,000 small businesses as demand continues to grow. Revenue is ahead of forecast with H1 FY19 revenue $67.7 million, up 8% […]

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Mar
13

An accountant’s guide to comparing Fintech business loans

How can you objectively compare the loan pricing metrics between the different online business lenders and make the most informed decision possible? Assisting your small business clients with finance can be challenging with so many options out there from both banks and newer alternative finance providers. As traditional lenders have tightened their credit conditions and pulled back on SME lending, the rise of online, fintech lenders is providing small businesses with new opportunities to fund their growth. However, how can you objectively compare the loan pricing metrics between the different online business lenders and make the most informed decision possible? The answer is with SMART Box™. The SMART Box™ Loan […]

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Mar
12

Digital bank Volt eyes business customers as fintechs chase data

Neobank Volt has small business in its sights as it develops data-driven products, acknowledging that startup founders are the most likely to take up digital banking options first. The startup, which secured a fully fledged banking licence in January and is preparing to launch a consumer offer in coming months, joins other financial technology firms in its quest to offer self-employed customers better products by reviewing their data in real time. Speaking from the sidelines of Salesforce’s World Tour event in Sydney on Wednesday, Volt chief executive Steve Weston said the business was looking at rolling out business transaction accounts, term deposits and business loans from 2020. “The tech community […]

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Mar
01

Funding partners commit to support Peppermint’s growth

Peppermint Innovation Ltd (ASX: PIL) confirms funding support from two strategic investors that will help deliver its next exciting phase of growth. On 30 October 2018, Peppermint announced Smidge Digital Unit Trust or its nominee had agreed to invest $1.5 million at 2.5 cents per share via a placement of 60 million shares. Smidge has now nominated PEGG Capital Limited (Malta) – a Maltese-based investment group focussed on unique and undervalued opportunities in Australia, Asia and various emerging markets – as the party to fill the placement by 31 March 2019. PEGG Capital Limited has also undertaken to continue to provide financial support to Peppermint to accelerate the adoption of […]

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Feb
27

Identitii joins BIAN to help banks digitise information exchange using Blockchain

Australian Fintech enabling the secure overlay of transaction-level detail on top of financial messages using a private blockchain, has joined BIAN.

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Feb
26

Bitcoin – The Future of Money

Technology has changed the world around us, penetrating into our daily lives to such an extent that it’s now difficult to imagine the world without it. The financial industry has been particularly impacted by digital advances, going from banknotes to credit cards to Bitcoin in just a few decades. But is Bitcoin really the future of money? Or is it just a fad destined to go away when some other form of electronic cash appears? To answer these questions, we must first take a closer look at the evolution of money to see its possible future. The Evolution of Money The evolution of money is long and winding, but most […]

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