IDC names top 10 fastest growing fintech companies in A/NZ
IDC Financial Insights has unveiled a list of 10 fast-growing fintechs in Australia and New Zealand (A/NZ) as part of the broader FinTech 101 list for Asia/Pacific. “IDC’s FinTech Fast 101” refers to the fast-growing fintech players in Asia/Pacific based on extensive on-ground analysis of the dominant fintech players within the region. 10 Fastest Growing FinTechs in Australia and New Zealand Afterpay Touch Group Airwallex CoinJar Data Republic Harmoney HashChing identitii Prospa SocietyOne Xero Note: List is arranged alphabetically, Source IDC, 2017 IDC’s fintech list makes a reference to the Financial Insights’ Triple U framework — ubiquity, utility, and usability. This is a framework that evaluates fintech data across key metrics such as addressable […]
Australia’s Alternative Finance Future goes from strength to strength
Australia is emerging as a regional leader in the $300bn global Alt-Fi market. Alternative finance (or Alt-Fi) is a catch-all phrase used to describe emerging, digital financial services models such as peer-to-peer and marketplace lending (business and consumer finance), crowdfunding and invoice lending. However, for Australia to stay ahead greater consumer and business awareness is needed as well as policy and regulatory settings that continue to evolve with the development of this nascent sector. Globally this market is expanding quickly, up 100 percent year-on-year, with China the dominant world market (in terms of absolute volume), accounting for 85 percent of the total market. A staggering US$243.28 billion was raised through […]
You can now pay for your Jetstar flights with Afterpay
Afterpay for flights just took off. Afterpay has announced a partnership with budget airline Jetstar, allowing customers to purchase their flights now and pay for them in four interest-free instalments later. For those of you not yet in the know, Afterpay works in a similar way to lay-by, only you get to take home your purchases before you finish paying for them. It has partnered with hundreds of online retailers so far, but this Jetstar venture marks its inaugural entrance into the travel industry. Available from today, as part of its pilot programme Afterpay can only be used on domestic flights, though there are plans to roll it out on […]
ASIC poised to release ICO guidelines: What this means for startups
Startups enticed by the growing popularity of initial coin offerings (ICO) as a fundraising method may soon be subject to more regulation, as the corporate watchdog prepares step up its oversight of the blockchain-based funding practice to weed out any scams. However, one local startup founder who’s in the midst of his own ICO says more regulation is needed to ensure startups don’t expose themselves to unnecessary risk. The Australian Securities and Investments Commission is poised to release a guiding statement on ICOs, reports Innovation Aus, which will likely see Australia follow the lead of the US by including the fundraising method within its existing regulations governing initial public offerings […]
Let’s stop making mobile payments a chore
By Keith Brown, General Manager Product, Scheme and Business Development, BPAY Group You can make a payment on almost any digital device, but why can it still feel like a chore? Mobile has been spruiked across product and marketing strategies in all industries for as long as the smartphone has been around, and yet a decade later we’re still not as digitally savvy as we’d like to think. We have tablets, smartphones, and smartwatches, but discrepancies still exist for user experience across all these devices. There’s an influx of mobile-only banks emerging in the U.K., dedicated to ensuring the experience of banking for their customers on the go is as […]
Picking your peer-to-peer platform provider to invest
Disruption is not just happening to retail, hospitality and taxis. It’s also happening in financial services, especially banks, where borrowers and lenders are finding ways to engage, cutting traditional players out of the picture. At best, in this scenario, both investors and borrowers can end up winning, with better lending rates and higher returns. This sector is worth investigating for investors comfortable with debt, but be prepared to do your homework. The sector is expanding rapidly with a range of new businesses, offering differing features. But for most investors the field can be split into peer-to-peer lenders and corporate bonds. The lenders Funds are available for personal commitments such as […]
The rise of cashless society – is your business listening to your customers?
You will often hear a small business owner complain about the banks ‘taking their cut’ of every transaction. The cost of having a transaction machine can feel like a big expense for some businesses; and many then pass those costs onto their customers in the form of surcharges. However, with the introduction of tap and go technology comes numerous cost-effective options available to the small business owner – and Australian customers are loving them; a recent survey by the RFI Group reveals that 32 per cent of Australians believed they could go cashless. The same survey shows that Australia currently has the highest use of contactless tap and go cards […]
ClearView selects Prime for scaled advice
IRESS today announced that ASX-listed wealth management, financial advice and insurance group, ClearView, has selected XPLAN Prime as its objectives-based, scaled-advice solution. XPLAN Prime allows financial advisers to deliver objectives-based scalable advice to meet a range of client needs and save significant time, by leveraging the advice capabilities of the XPLAN platform. IRESS Managing Director for Wealth Management, Tizzy Vigilante, said: “We are delighted to be delivering Prime for ClearView. XPLAN Prime is available and suitable for all businesses providing financial advice. “We know consumers everywhere are increasingly seeking more options in what financial advice they receive and how advice is accessed for specific or comprehensive needs. […]
