Robo-advice start-ups go beyond disruption to new clients
Robo-advice start-ups are looking to use technology to drive massive expansion in the financial advice market, rather than to simply disrupt it. While established players, such as AMP, and the wealth management arms of banks are among those vulnerable to robo-advice, start-ups claim they are not targeting their market. “People talk about disrupting the financial services industry with robo-advice, but only 20 per cent of the country gets advice,” David Pettit, chief executive of Perth-based robo-advice start-up Future Penny, told The Australian. “There’s a massive piece of the market that aren’t seeking or engaging with advice professionals.” Robo-advice delivers investors a low-cost investment management portfolio based on algorithms and technology. […]
Link Digital Solutions announces partnership with Ignition Wealth
Super advice tools integrating with online portals to increase consumer engagement Digital and mobile solutions provider Link Digital Solutions today announced its successful integration with digital advice provider Ignition Wealth. The integrated offering will provide superannuation fund members with seamless access to advice tools directly through Link’s online member portals. “The partnership with Ignition Wealth will allow us to prepopulate superannuation advice tools such as personal projections and simulations, and make them readily available within our clients’ online member portals. Ultimately, this will assist funds as they support their members in the journey from accumulation to retirement. “We seek to integrate with specialist partners in order to […]
1st Annual Australian FinTech Awards 2016
Congratulations to the winners of the 1st Annual Australian FinTech Awards 2016! FINTECH INNOVATION IN PAYMENTS – Afterpay FINTECH INNOVATION IN WEALTH MANAGEMENT (ROBO ADVICE) – Owners Advisory by Macquarie Group FINTECH INNOVATION IN LENDING (FOR FINTECH) – SocietyOne BEST INNOVATION IN CYBER-SECURITY & ANTI-FRAUD – Entersoft BEST FINTECH COMMUNICATIONS CAMPAIGN – Acorns BEST RESEARCH IN FINTECH – Panalitix BEST FINTECH-BANK COLLABORATION OF THE YEAR – OnDeck Capital’s partnership with CBA FINTECH LEADER OF THE YEAR – Daniel Foggo of RateSetter FEMALE FINTECH LEADER OF THE YEAR – Loretta Joseph of the Sydney Stock Exchange FINTECH CTO/CIO OF THE YEAR – Glenn Riddell of RateSetter INSURE-TECH STARTUP OF THE YEAR – […]
Aussie FinTech Octet goes global with new partner in China
Octet, a global financial technology company, has welcomed Asiafactor (CN) Limited as the latest licensee of the Octet platform. A successful Chinese supply chain finance organisation, Asiafactor will leverage Octet’s revolutionary supply chain management and financing platform to enable its customers to manage and pay international suppliers, saving time and freeing up their cashflow. Asiafactor will offer the Octet-enabled platform to serve both existing domestic small to medium enterprises, as well as to a vast range of prospective exporters throughout China. Customers leveraging the platform will be able to use their existing credit cards or other financing facilities to pay global suppliers at competitive exchange rates, removing the need for […]
Robo-adviser Six Park launches with Brian Watson, Lindsay Tanner and Paul Costello on Advisory Board
Australia’s pre-eminent financial experts have joined the next generation of automated financial advice providers with the launch of robo-adviser Six Park. Six Park’s team includes former Federal Finance Minister Lindsay Tanner, founding chief of the Future Fund Paul Costello and Six Park co-founder and former J.P. Morgan Australia Chairman Brian Watson on the company’s Advisory Board. Six Park has raised $1.4 million in seed funding pre-launch and combines the use of cutting edge technology with more than 100 years of investment expertise and wisdom led by co-founders Patrick Garrett (CEO) and Mr Watson (Chairman of Advisory Board). Independently-owned and operating in beta-mode for over a year to […]
Ripoll joins robo-advice board
Former Federal Labor MP, Bernie Ripoll has been appointed as a director of robo-advice focused group, Map My Plan. Ripoll, who was integral to a number of Parliamentary Committee inquiries into the financial planning industry, departed the Parliament this year and described his decision to become a director as reflecting his desire to continue to be involved in the advice sector. “FinTech is clearly having a transformative effect on financial services and the way the industry meets customer needs,” Ripoll said. Joining Map My Plan gives me the opportunity to help bring great advice to the majority of Australians currently missing out and to do something positive with my years […]
Stone & Chalk hopes interstate foray can spread innovation
In the intensely competitive world of fintech, it’s hard to overstate the benefit for Brand NSW from the ultra-low-cost Stone & Chalk hub, which aims to spread its tentacles to Melbourne before the end of the year. Sydney is already jostling for attention with global fintech destinations such as Silicon Valley, London, Tel Aviv, Singapore and Hong Kong — a status it’s achieved with the paltry investment of $2 million raised from the state government and industry. This column, however, has always advocated a national approach, which is why it’s so important that the rubber is starting to hit the road in Victoria. By the end of September, funding will […]
Outcomes from the National Fintech Cybersecurity Summit
Last week an assembly of Australia’s who’s who of cyber security came together for a roundtable in Sydney. The event was organised by CSIRO’s Data61 and Stone & Chalk with partners KPMG and the Australia-Israel Chamber of Commerce (AICC). This roundtable, was chaired by Australia’s Chief Scientist Dr Alan Finkel, and the discussion well moderated by Tony Jones from the ABC. In an interview with Computerworld Australia, Alex Scandurra, CEO of Stone & Chalk, shared his reflections on the event and its outcomes. A key theme that emerged time and again in the inaugural National Fintech Cybersecurity Summit was the criticality of collaboration – a point echoed by both key […]
