P2P lender partners with Finsure
Peer-to-peer (P2P) lender RateSetter has teamed up with aggregators Finsure and LoanKit. Under the partnership, more than 1,400 brokers accredited with Finsure and LoanKit will be able to offer their clients RateSetter’s personal loan and green loan products. Daniel Foggo, CEO of RateSetter, said that joining the aggregators’ lending panel will help accredited brokers improve their client’s financial wellbeing outside traditional mortgage and insurance offerings with a better deal on personal loans and green loans. He added, “Whether it’s helping clients with paying down expensive credit card debt, purchasing a car or installing solar power for their home, RateSetter’s low-rate loans will give Finsure and LoanKit brokers a new way […]
Founded by the crowd: the new way to invest in Australian businesses
Equity crowdfunding is a relatively new way for Australians to invest. It’s a smart way to collect donations for a charity cause or raise capital for new products and with recent changes to Australian investment laws, crowdfunding platforms can now be used to raise equity capital for a business startup. This change opens a new funding stream for fledgling creative companies to gain investors and get their idea into the marketplace faster. So what opportunities and pitfalls are there for businesses who are considering equity crowdfunding? Three forms of crowdfunding There are three forms of crowdfunding and first up is, Donation or Charity based Crowdfunding, which has been available to […]
Bureaucracy fumbles Australia’s innovation vision
Australian corporate regulator ASIC’s commissioner, John Price, has called out “innovation” as a concept about which it is easy to wax lyrical, but “difficult to apply in practice”. Mr Price made the comments at the recent Senate Economics Legislation Committee meeting into the regulatory sandbox for fintechs when asked: “Is an innovation benchmark appropriate?” With just five fintech companies making the grade for the first version of the sandbox, and consumer advocacy group Choice arguing the sandbox needed a higher “innovation” bar to entry, his answer suggests this is a bigger question than the regulatory body can begin to answer. Mr Price was “not surprised” with the low take-up of […]
Fintech and Property: What You Need to Know
Using Fintech in the property industry Australians embrace technology in everyday life and they expect it to be part of everything they do. For the last three years, Fintech has been one of the fastest growing industries in Australia, with the number of registered companies growing from around 100 in 2015 to 600 in 2018. With the rapid growth of the industry in Australia, the door is open for the property industry to benefit. What Fintech products will the property industry gain the most benefit from? Data Analytics: Using information and data from Fintech platforms will help advisors and agents to make informed decisions for their clients. They will be […]
On The Money: Google Pay, Samsung Pay and Apple Pay explained
Over the last ten years, smartphones have replaced MP3 players, PDAs, cameras and – for some – even dedicated portable computing devices like laptops. Now, smartphone and wearable vendors are trying to replace your wallet by cementing themselves as a crucial part of the mobile payments space. If you’re confused about things like Apple Pay and Samsung Pay – here’s everything you need to know. What are mobile payments services? Mobile Payment services (also known as mobile payment platforms or digital wallets) is a term that refers services or apps that allow you to pay for things with your phone or smartwatch (via a connected credit or debit card). The […]
‘Beware bitcoin tax scammers’: Tax Office
The Australian Tax Office (ATO) has warned Australians to be vigilant about scammers impersonating the ATO and demanding debts be paid in cryptocurrency. Following the end of the financial year, scammers email victims falsely claiming to be collecting tax return debts on behalf of the ATO. Assistant commissioner Kath Anderson said the ATO has recorded over $50,000 lost to scammers from unwitting victims. “Cryptocurrency operates in a virtual world, and once the scammers receive payment, it’s virtually impossible to get it back,” said Anderson. “Scammers are constantly adapting their methods to maximise their chances of picking your pocket. “Unfortunately it was inevitable that scammers would target cryptocurrency given its current […]
Blockchain technology is shaping the future of business
Since the dawn of the internet, businesses have faced the challenges of trying to integrate themselves into the digital world. Traditionally customer involvement was not present within large corporations where their opinions were considered law. Blockchain technology is shifting the market to promote more customer involvement. Blockchain refers to a decentralised platform where transactions are made via cryptocurrency and all of the records are recorded in a chronological order for the public to view. The major fact to note about blockchain is that anyone can view the economic transactions and form their opinion based around that. This could sprout a new era of customer involvement with companies and businesses if […]
Igniteme heats up crowdfunding
Australia’s newest fundraising platform, Igniteme, is looking to push the crowdfunding barrow beyond its traditional confines, having raised more than $1 million since its inception. Igniteme, put together by Australia’s first winner of The Apprentice, Andrew Morello, and former Australian Property Institute associate Kristjan Geering, covers a host of funding options, including charity donations, and private lenders offering loan facilities. There’s also a crowd-sourced equity funding feature that will come into play once the Australian equity crowdfunding legislation comes into effect late next month. The platform’s biggest project to date is raising money for an independent Australian full-length documentary on NSW one-punch attacks called The Polisher. It’s a bit left-field […]
