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% […]
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 […]
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 […]
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 […]
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.
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 […]
Telstra and CBA partner on 5G banking trials
The Commonwealth Bank of Australia is kicking off trials of 5G banking and edge computing thanks to a partnership with Telstra and Ericsson announced at Mobile World Congress (MWC) 2019. Under the collaboration, Telstra, CBA, and Ericsson will test “end-to-end banking solutions over 5G” during the next few months, the companies told media on Sunday in Barcelona. Speaking with ZDNet, Ericsson ANZ head Emilio Romeo said some of the 5G use cases that the trial will look at include exploring different network architectures such as network slicing, dynamic orchestration, and control use plane separation. Network slices on demand would be particularly useful for enabling enterprise customers such as banks to […]
Finnie Awards move to Melbourne
Australia’s only industry-backed fintech awards, the Finnies, is introducing new awards to highlight collaboration in fintech and is shifting this year’s awards from Sydney to Melbourne The annual awards give over 100 fintech startups the opportunity to be recognised by their peers for their work and innovation. A total of 19 awards will be on offer including with several key awards returning. These include: FinTech Organisation of the Year, Outstanding FinTech Leader of the Year, Female FinTech Leader of the Year, Emerging FinTech Leader of the Year and Emerging FinTech Organisation of the Year. Several new awards are being introduced to highlight collaboration, including: Deal of the year, Partnership of […]
