Australia’s first Future Hub to Accelerate Blockchain Development and Implementation
Australian technology innovator Lakeba Group today launched the Lakeba Future Hub, a consortium of leading technology, law, taxation and educational firms, with a focus on accelerating blockchain adoption and development by Australian businesses. Recognised for being one of the first technology companies in Australia to have live commercial blockchain pilots across multiple sectors, Lakeba will work with leading partners Microsoft, IBM, Macquarie University, cryptocurrency and blockchain legal expert Piper Alderman, and taxation expert Grant Thornton, to help businesses navigate the pathway for implementing blockchain and cryptocurrency solutions. New partners relevant to the vision of the Future Hub will continue to be added as the consortium grows in scope and footprint. […]
Open banking rules fuel financial planning shake-up
The financial planning industry is poised for a shake-up as the government’s plan to make it easier for customers to access banking data drives new technology that will allow advisers to respond in real-time to the changing financial circumstances of their clients. Open banking will also change the financial advice industry by allowing advisers to tailor their offering to individuals. Grow Super, part owned by IOOF, and Basiq, part owned by Westpac Banking Corp and National Australia Bank, have worked together to build the software that provides alerts to advisers about when to call their clients. The product will be white-labelled for advisory groups to enhance the quality of customer […]
London fintech delegation reveals deeper Australia-UK tech links
Ten Australian fintech start-ups are in London this week on a trade delegation arranged by the Australian British Chamber of Commerce, a sign of deepening ties between the two nation’s technology scenes. While England’s game against Columbia in the World Cup and the tennis at Wimbledon offer potential distractions, so excited is the chamber about its official program it has coined a new acronym for it: The “ABFCC”, or “Australian British FinTech Cyber Catalyst”. The start-ups in the group are Everproof, Trade Ledger, TRAction FinTech, Adviser Ratings, InDebted, CYDARM Technologies, HyperIntel, Airlock Digital, Aleron and Randtronics. There’s a regtech and cybersecurity flavour, and the group is being led by Law […]
This Aussie fintech is now helping give banking services to rural communities in Syria
Novatti Group Limited, an online financial transactions processor and financial technology developer, announces it has entered into a supply agreement with Banque Bemo Saudi Fransi (BBSF). Novatti has entered into the supply agreement with BBSF to supply its agency banking services and mobile payments platform. BBSF is a leading and trusted bank among Non-Government Organisations (NGO’s) that has been operating in accordance with global banking standards providing retail-banking services for 14 years. Under the NGO umbrella, a key program of the bank is to enable distribution of financial aid to rural consumers within Syria, most of who are not catered for in the current banking space. The platform being supplied […]
Changing of the guard at FinTech Australia as industry faces tough challenges
Lobby group FinTech Australia has a new chairman and relatively new CEO, a refreshed leadership team to represent its 243 fintech start-up members in the corridors of political power. At its annual general meeting last Wednesday, Alan Tsen was elected new chairman of the group, which was founded in 2016 to help drive pro-competition, technology policy, such as the government’s open banking regime. A former corporate lawyer, Tsen has his finger on the pulse, given his day job is general manager of Stone & Chalk’s new operations in Melbourne. The hub is backed by 24 corporate partners including the Melbourne-based major banks ANZ Banking Group and National Australia Bank. Tsen […]
Alibaba moves to transform Australian fintech
Alibaba Group’s innovative facial recognition, artificial intelligence and data analytics technology is coming to Australia’s financial services sector, under a partnership with local technology group TAS. The landmark deal between TAS and Alibaba’s cloud computing arm, Alibaba Cloud, will provide Australian businesses with the opportunity to access cutting edge cloud computing and data centre services. TAS and Alibaba will also develop a joint innovation centre in Australia under the deal, to develop and tailor new technologies and services for the Australian market. TAS has been providing technology solutions in Australia’s financial sector for nearly three decades, servicing about 60 institutions with cloud solutions for internet and mobile banking, internal systems […]
Piper Alderman to help shape Australia’s blockchain future
Piper Alderman is doubling down on opportunities brought about by blockchain technology. The firm has partnered with Australian technology innovator, Lakeba Group, to tackle the adoption and commercialisation of blockchain technology both in Australia and around the world. Under the partnership, Lakeba will work with the national firm’s lawyers to handle the legal implications of implementing blockchain and cryptocurrency solutions for clients and prospects. Lakeba is one of the first Australian companies to have live commercial blockchain pilots in a range of sectors. The alliance will not only facilitate reciprocal introductions, but ultimately boost the Australian market’s reputation in innovation, Piper Alderman said. “Lakeba is one of the first to […]
Credit report delay shows fintech social risk concerns
Nothing is more valuable to a fintech start-up than data. And some of the best quality data for pricing financial services are the historical records of customer debt repayments. When run through algorithms, these can indicate how likely a prospective borrower is to repay a loan in the future, which helps with assessing risk and pricing. Fintechs are right on the cusp of getting access to this “repayment history information” (RHI), through the government’s new “comprehensive credit reporting” (CCR) regime. The policy is due to come into force in just over a fortnight, and would require banks to attach RHI to customer reports provided to credit bureaus. So the last-minute […]
