Partnerships driving the local fintech sector
Financial technology startups are growing in Australia, from less than 100 in 2014 to approximately 579 companies today. Many financial businesses see this as a direct threat, but if our country is to have any hope of building a world-class financial services technology industry, the future lies not in competition, but in collaboration. We are already seeing the local attitude change, with a recent PwC report finding that over 82% of financial institutions expect to increase fintech partnerships in the next three to five years. By partnering and collaborating with smaller fintech startups, established companies can accelerate industry growth and push the capabilities of both parties forward. Australia has a […]
Fear and loathing from Silicon Valley
By Jacqui Henderson, Founder & CEO – Advice Intelligence An all-pervasive feature of modern life is the speed of technological change, and of our collective capacity to adapt to the multiple impacts of change. It is natural to question the benefits: does the constant challenge to keep up and adapt simplify my life or make it ever more complex? Would a fully-automated advice capability drive better service standards and outcomes for my advice business and my clients, or does it simply make my job redundant? Is all the talk of technological revolution that ricochets around the world out of Silicon Valley, the advent of artificial intelligence and robotics, and the […]
Tom Culver of Goodments wins inaugural EY WAMTech PitchFest
Tom Culver, CEO and Co-Founder of Goodments, has been named as winner of the inaugural EY WAMTech PitchFest for his innovative FinTech solution in response to the problem statement of how to simplify the process for financial advice within the wealth and asset management (WAM) industry. Culver took out the top award among stiff competition from the group of five short-listed finalists at a special event held in Sydney last night. Supported by the Financial Services Council (FSC), the PitchFest called on FinTechs to help revolutionise the Australian WAM industry by designing innovative technology-based solutions to some of its biggest challenges, as identified via a survey of senior executives […]
EY WAMTech PitchFest – Can Fintech solve some of the wealth industry’s biggest challenges?
The nation’s most innovative FinTech developers are being called on to help revolutionise the Australian wealth and asset management (WAM) industry by taking part in the inaugural EY WAMTech PitchFest. Supported by the Financial Services Council (FSC), the PitchFest calls on FinTechs to design innovative solutions to one of six problem statements, representing some of the biggest challenges faced by WAM providers today that new technology could solve. These challenges, identified via a survey of key Australian WAM industry participants including executives from the across the superannuation, funds management and life insurance sectors, include: Improving financial literacy Providing one touch access to wealth solutions Simplifying the process for […]
Crowdfunding’s $100m kickstart making Aussie start-ups pozible
Platforms Australia-based Pozible, which launched in 2010, tops Australian campaigns launched (about 11,400), most successful campaigns (around 6500) and dollar value raised (about $46 million). Pozible also has the highest success rate at 58 per cent. At about 24 per cent, New York-based Kickstarter, which opened to Australians in 2013, has a lower success rate. But on average Kickstarter campaigns raise more money, with about 1500 Australian campaigns raising nearly $32 million dollars. A list of the top 20 Australian projects on San Francisco-based Indiegogo shows more than $27 million has been raised since the platform launched in Australia in 2010. However, about 67 per cent of Indiegogo’s total dollar […]
How digital automation can help offset Australia’s 492 per cent regulation boom
By Jacqui Henderson – Founder & CEO, Adviser Intelligence Damage control does not come cheap. Just ask Dongjin Koh, President of Mobile at Samsung Electronics. Koh told press in October this year that the total recall of the inflammable Galaxy Note 7 range – based on reports of just under 50 exploding units of the 2.5 million shipped products – would cost the Korean conglomerate a “heartbreaking amount”. Or to be more precise, more than $5 billion, Samsung later admitted. But, according to Chang Sea Jin, National University of Singapore business school professor, the multi-billion dollar Note 7 recall cost was worth it. “The potential damage to reputation is far […]
Barry Lambert predicts 2017 The Year of the Robo
“YOU DON’T REVOLUTIONISE YOUR COBB & CO BUSINESS BY BUYING FASTER HORSES.”. IGNITION WEALTH INVESTOR AND MENTOR BARRY LAMBERT PREDICTS 2017 THE YEAR OF THE ROBO Digital financial advice is poised for rapid uptake in Australia, with 2017 set to be the year when professional financial businesses adopt ‘robo-advice’ as an essential element of their client offering. Ignition Wealth is at the forefront of the pack of Australian digital financial advice technology providers. “Everyone is talking about the cloud revolution and many are looking to change their technology because they want to look smarter. Changing technology is very expensive if it does not revolutionise your business. Financial planning, a […]
AWI buys Eureka Report
Paul Clitheroe’s Australasian Wealth Investments has purchased News Corp Australia’s investor advice newsletter and website Eureka Report. AWI will add the Alan Kohler-founded Eureka Report to its stable which includes InvestSMART and Intelligent Investor. The sale price was not disclosed. “I’ve always admired Eureka Report for its exceptional ability to connect with private investors across Australia; we know the publication will thrive afresh under this new structure”, Mr Clitheroe, who is chairman of AWI, said. Mr Clitheroe, a financial analyst and TV presenter, best known for hosting former Nine Network program Money, says the takeover of Eureka Report is part of his plan to ride the wave of a tech-driven […]
