New York fintech startup trueDigital’s new CEO to bring cross-border payments to Australia
trueDigital Holdings, LLC, a global provider of financial infrastructure technologies and products for the digital economy, announced today it has appointed former Bridgewater Associates executive Thomas Kim as its Chief Executive Officer and a Member of its Board of Directors. Kim brings an extensive track record of trading technology leadership at multiple major financial institutions and software providers to his role at trueDigital. He joins the company following seven years with Bridgewater Associates, where he most recently served as Chief Operating Officer of the Investment Engine Group. Earlier in his career he held positions as Managing Director at Lehman Brothers, responsible for the Townsend Analytics Electronic Trading franchise, and held […]
Lakeba Group CEO Giuseppe Porcelli appointed as Chief Strategy Officer for Mobecom Ltd
Lakeba Group CEO and Founder Giuseppe Porcelli has been appointed by Mobecom Limited (ASX:MBM) as Chief Strategy Officer with immediate effect from 1 February 2019. He will join the Mobecom executive team and be introduced to shareholders in upcoming future meetings. The appointment is a natural evolution of the partnership between Mobecom and Lakeba. Earlier in 2018 Mobecom announced Lakeba as their blockchain developer partner to build the cryptocurrency solution, AirCrypto for airBux, their customer loyalty platform. Following that, at the end of 2018 Lakeba’s Paid By Coins venture was acquired by Mobecom just six months after the business had launched. Giuseppe Porcelli’s appointment comes as part of a wider strategic review Mobecom […]
Prospa contributes $3.65 billion to Australian GDP
Prospa, Australia’s number one online lender to small business, today revealed new research into the economic impact of its lending to small business in Australia. Prospa undertook the economic impact assessment in partnership with RFi Group and the Centre for International Economics (CIE). The project considered the value of funds lent by Prospa over the period 2013 – 2018 and assessed how funds have benefited Prospa’s customers through increases in revenue and employment and the flow-on effects of these funds to the wider economy. The results of the research showed: For every $1m in lending by Prospa there is a corresponding $4m increase in GDP Since 2013, Prospa has contributed […]
Neobank Douugh wants to take HENRYs from the big four after Regional Australia Bank deal
Douugh, an Australian fintech start-up run by SocietyOne co-founder Andy Taylor, has secured the last piece of the puzzle it needed to join the race to knock off the big four banks as one of an emerging group of neobanks. The company, which has developed a so-called “smart” bank account, with an artificial intelligence-based personal finance assistant known as Sophie, has secured a wholesale banking deal with Armidale-based Regional Australia Bank, meaning it will be able to offer full bank accounts later this year. The partnership agreement means Douugh will bypass the need to go through the APRA approval process, which saw Volt Bank announced as Australia’s newest bank on […]
Research shows that budgeting and cashflow management the top advice priority for younger Australians
Younger people overwhelmingly rank budgeting and cashflow management as the most valuable type of financial advice they can receive, according to a recent ING and Rice Warner survey of more than 1000 Australians. Gen Z (66 per cent), Gen Y (60 per cent) and Gen X (40 per cent) all cited budgeting and cashflow management as more valuable than holistic advice and retirement planning advice, according to the report. Baby Boomers understandably rated retirement planning as their most valued advice service (more than 45%), however almost 30 per cent said budgeting and cashflow management services was most valuable. Source: ING My Generation report, which surveyed 1040 Australians between the ages […]
Australian University awards funding to local Bitcoin exchange
A Brisbane-based Bitcoin exchange has caught the eye of Queensland’s University of Technology (QUT), which awarded the start-up $15,000 in funding. Digital Surge was selected among eight innovations to receive the money, as part of QUT’s ‘Bluebox Accelerator’ program. “We look for the most innovative start-ups across all disciplines,” said the program mentor Dr Tim MacTaggart. “This year we have a bright group who cover the emerging Queensland interests including cryptocurrency, retail and some of our most pressing social issues such as homelessness.” The QUT Bluebox accelerator is a three month intensive program aimed at getting start-ups reading for fast-tracking commercial growth. As well as the funding, selected teams receive […]
Advice dealer group, fintech align
Advisers licensed by Elders Financial Planning can now access Cashwerkz, a term deposit administration service and cash management platform. Advice clients can access current term deposit rates across a wide range of Australian banks and other authorised deposit-taking institutions. Elders advisers using Xplan can also benefit from a wide range of data feeds offered by Cashwerkz, enabling them to comprehensively measure asset allocation, cash exposure and liquidity levels. “We are very conscious of the need to continuously innovate throughout our organisation to counteract the increased levels of administration and myriad of challenges that advisers are currently facing and Cashwerkz will be a big help in creating these efficiencies for our […]
Millennials seeking financial advice from millennials
Younger people are shunning their parents and older professionals when it comes to getting guidance on all things financial, a new study has shown. Instead, the research from consumer advocacy group Adviser Ratings has found millennials are seeking other members of their generation to give them a helping hand. “They want to find advisers who have similar goals and life experiences… someone who understands that they’re not looking for the same conventional advice their parents got,” Adviser Ratings CEO Mark Hoven told Your Money Live. “It’s a lot more about lifestyle.” That’s partly because advice tailored to older generations isn’t as applicable to those in an earlier life stage. “It’s a fact that […]
