Record payday for EML teases bigger year ahead
EML Payments (ASX: EML) had a big year in FY18 and the company has no plans to slow it down anytime soon. The payments solution provider posted a record year of earnings in FY18, up 43 per cent to $20.8 million. Revenue also increased to $71 million, up 23 per cent, and the company recorded a net profit of $4.83 million, up by a staggering 200 per cent on FY17. While these results speak to the company’s achievements in FY18, EML Payments’ recent acquisitions and new international partnerships could suggest an even more impressive financial year is on the horizon. The company recently acquired 100 per cent of Presend, a […]
After CBA scandal, Australia’s regtech sector is ready for take-off
The local regtech scene is ready for take-off. There were two indications last week that regulatory technology’s engines are revving up. One was the corporate regulator securing an extra $6 million in funding from the federal government to market Australia as a global centre of regtech excellence. The Australian Securities and Investments Commission chairman James Shipton is on board with the potential for new technology to help regulated entities meet their complex legal obligations. The second was the filing of a prospectus by a promising Sydney-based regtech start-up known as Identitii. Based in a terrace house in Potts Point, Identitii plans to list on the ASX in September, with the […]
Crowd2Fund reduces default rate using AI
Artificial Intelligence (AI) has helped peer-to-peer platform Crowd2Fund improve its loan recovery rate, according to newly-released figures. Crowd2Fund has seen its default rate drop from 1.42 per cent in June to just 1.04 per cent in July after implementing the AI software from Australian fintech firm InDebted. “It is an amazing piece of technology and completely revolutionises debt recovery,” said Chris Hancock, chief executive of Crowd2Fund. “There is always a great need to competently manage all loans on our platform to ensure that businesses are upholding their obligations to the investors. “This software has allowed us to improve our already stringent recoveries process, and we have seen more timely repayments […]
Explainer: What is Ripple?
Not just a poor man’s Bitcoin, the currency exchange network Ripple is the dark horse of fintech. Ripple is far more than simply a “poor man’s Bitcoin”. Despite the host of cryptocurrency copycats on the market right now, Ripple isn’t simply copying the status quo. This currency exchange and remittance network actually has a lot more complexity to it than first meets the eye. To help you wrap your head around Ripple, we’ve compiled a comprehensive guide to fintech’s most exciting cryptocurrency. Read on to find out everything you need to know about the enigmatic currency exchange service. What is Ripple? Ripple, the successor to Ripplepay, was released in 2012 as […]
What is the Blockchain? The Plain English version
By Bill Hess, Founder of Pixel Privacy. The word blockchain is on everyone’s lips right now. Although you might not really understand what “blockchain” means, chances are you’ve heard people talk about it (a lot). Some people believe it will change our world for the better, and it will replace the banks that we currently know – or similar extravagant things. Although the blockchain came to the general public’s attention when the crypto market absolutely exploded, the majority of the people still don’t understand how it works, what it’s used for or what all the fuss is about. In this guide, I’ll answer all of your questions in regards […]
Australian cryptocurrency exchange Cointree enters the SMSF space with new partnership
Cointree, one of Australia’s leading cryptocurrency exchanges, has identified a growing interest from customers wanting the ability to purchase cryptocurrency with their superannuation. Due to this increased demand, Cointree is partnering up with New Brighton Capital, who offer accredited SMSF accounting services and focus on helping Australians own crypto in their super. “I am very excited about this partnership, this is the first step of the education process for our members, shedding some light around the opportunities of having an SMSF and investing into cryptocurrency,” says Shane Stevenson, CEO of Cointree. “We want to provide platform and channel where partners like NBC can educate our members on the different cryptocurrency […]
CashDeck releases API, integrates with Ezidox
CashDeck, one of the leading platform providers that helps borrowers quickly and securely provide their bank statements and at the same time, generate a detailed income and expense analysis based on the borrowers’ actual transactions, today announced they have opened up their platform capability with an API. As part of this move, CashDeck is aligning the platform with Ezidox, Lakeba’s well known software solution for document collection and management. The CashDeck app is currently used by more than 700 broking firms and boasts a high satisfaction rate with both brokers and their clients. It helps lenders, aggregators, brokers and software developers simplify the process of accurately analysing living expenses. Wayne […]
Does your FinTech company feature on the Australian FinTech Directory?
Over the past 3 years, the team here at Australian FinTech have built up the No.1 website for FinTech companies in Australia to be showcased to the world. We do this through the Australian FinTech Directory which can be found on our site here. The Directory features over 550 FinTechs operating here in Australia. It’s a long way from the beginning when the first 60 companies were listed and we thought ‘there might be about 100 in total’…. If you’re company is not featured on the Australian FinTech Directory, please let us know. And if your logo has changed, you have a new CEO, or would like to update your […]
