banking

Apr
21

Blockchain technology – why all the hype?

As one of the most talked about emerging technologies, some say blockchain technology could revolutionize everything from stock exchange settlements and transport logistics to voting or welfare payments. So what is it and why is it relevant to financial advisers? Internationally, the benefits and wide range of possible uses for blockchain technology have been touted […]

By Cameron Dart | ASX . Banking . Bitcoin . Blockchain . FinTech
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Apr
21

Global FinTechs take on Big Four in new Australian frontier

When U.S.-based financial technology company Acorns launched in Australia in February, its mobile app that helps people invest loose pennies in stock markets received nearly 70,000 downloads in just over two months, beating its own expectations. The ‘virtual piggy bank’ chose Australia as its first foreign market thanks to the country’s deep Internet and mobile […]

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Apr
20

Banks Struggle to Keep Pace with FinTech Disruption – World Retail Banking Report 2016

FinTech providers are making increasingly significant inroads with customers, yet the vast majority of banks admit they are not adequately prepared to manage this emerging FinTech threat, according to the 2016 World Retail Banking Report (WRBR), released today by Capgemini and Efma. The report found that nearly two-thirds of customers (63 percent) are now using […]

By Cameron Dart | Banking . FinTech
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Apr
20

Blockchain technology to hit bank profits

Revolutionary blockchain technology threatens to slash the profits of banks and wipe out lenders which fail to quickly adopt the online record-keeping innovation, a high-powered panel of finance and technology experts warned. Jose Fernandez Da Ponte, global digital business executive at Spanish banking giant BBVA, said digital disruption to financial institutions by blockchain posed “extremely […]

By Cameron Dart | Banking . Bitcoin . Blockchain . FinTech . Payments
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Apr
20

Banks still beat fintech firms on trust

Australia’s big banks have some breathing room compared to global markets when it comes to financial technology competitors but more needs to be done, according to a new report into world banking trends. Australia is slightly behind when it comes to picking up financial tech products, but those using them are far more likely to […]

By Cameron Dart | Banking . FinTech . Peer-to-Peer
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Apr
19

Data sharing struggles between banks and fintechs

Fintech companies want your Internet banking logins. Banks don’t want you to give it to them. Find out why the answer isn’t as simple as security. The issue of data crops up time and time again in the fintech market. Whether it’s the banks not sharing their data, fintech companies not providing enough protection of […]

By Cameron Dart | Banking . FinTech
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Apr
19

Apple Pay may be coming to Australian banks

Reports have emerged that ANZ Bank are currently testing Apple Pay’s paymemt technology. Although the mobile payment service was launched in Australia late last year, only American Express card holders were able to access the service. Neither tech giant Apple, nor ANZ bank have confirmed the speculation, however some bank customers are reportedly receiving confirmation […]

By Cameron Dart | Banking . FinTech . Payments
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Apr
19

Fintech threatens Australia’s biggest banks – Roy Morgan Research

The global fintech phenomenon threatens Australia’s traditional banks by stealing their most valuable customers. This new digital market is growing exponentially leaving traditional banks looking dangerously like commodity utilities. According to Accenture investment in fintech grew globally by 201% in 2014. [1] Australia has the fifth highest rate of fintech use in the world. [2] […]

By Cameron Dart | Banking . FinTech . Peer-to-Peer
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