big data

Xero joins with Wells Fargo to bolster financial web

PRESS RELEASE: The combination of limited access to capital, complex and time consuming financial processes, and the lack of confidence in business data has stifled growth and job creation in small businesses – the biggest sector of our global economy. But the financial web, which incorporates a network of organizations sharing financial data, promises to connect financial institutions and small business owners, unlocking massive productivity and growth. Today, we announced an integration with Wells Fargo, a top bank serving more than three million small businesses and one in three households in the United States. This is an exciting milestone for us in the U.S where we can connect small businesses […]

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May
24

Australian FinTech Opens up Vast Opportunities for ICT Companies

Sydney, Australia, 23 May 2016 – Australia’s development as a leader in Fintech innovation will require concerted effort from government agencies and established financial institutions and will involve partnerships and research collaboration between banks and startups. It will also present many diverse and lucrative growth and development opportunities for ICT companies that will help form the necessary ecosystem for a leading Fintech market. Data and connection security will be the most significant challenge for Fintech companies in Australia; largely because mobile payments make up the majority of the revenues of all the Fintech segments. Reliable security will be a key issue and an important selling point to ensure success as […]

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NAB, Westpac and Qantas invest in Data Republic

National Australia Bank, Westpac Banking Corp and Qantas have taken stakes in Data Republic, a Sydney-based start-up that has designed a platform which allows companies and government to exchange data in a secure environment. The deal indicates some of Australia’s largest companies are considering sharing data with each other to enhance service delivery but under strict controls to protect customer privacy. NAB, Westpac and Qantas have invested a combined $10.5 million into Data Republic’s recent Series A equity fundraising round. The stakes were acquired through Qantas Loyalty, NAB’s venture capital fund, NAB Ventures, and Westpac’s venture capital fund, Reinventure Group. The deal is Qantas’ first investment in a tech start-up […]

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May
04

Artificial Intelligence, Algo-Banking, Blockchain, Cryptocurrencies and Robo-Advice Form Growth of Australian FinTech Market

Frost & Sullivan’s study, Fintech in Australia, defines and focuses on the growth and challenges of the Australian Fintech sectors.

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Fintech challenges Veda, Dun & Bradstreet

CreditSME – founded by Adam Welsh, a former M&A and debt at Origin Capital Group and Goldman Sachs – is offering a sort of broker role, giving them a credit rating and then advising them on which lenders would be the best for them – be it traditional bank or online unsecured lenders. CreditSME, launching on Wednesday, is the latest in an explosion of ex investment banker-led fintechs targeting the small businesses traditionally treated with disdain by the banks. But it’s not lending them money, rather it wants to give SMEs (and their lenders) easy access to a credit rating, just like a big business. There are various operators that […]

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Fintech challenges Veda, Dun & Bradstreet

CreditSME – founded by Adam Welsh, a former M&A and debt at Origin Capital Group and Goldman Sachs – is offering a sort of broker role, giving them a credit rating and then advising them on which lenders would be the best for them – be it traditional bank or online unsecured lenders. CreditSME, launching on Wednesday, is the latest in an explosion of ex investment banker-led fintechs targeting the small businesses traditionally treated with disdain by the banks. But it’s not lending them money, rather it wants to give SMEs (and their lenders) easy access to a credit rating, just like a big business. There are various operators that […]

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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 the data they’re asking for, or discussion of the myriad data that waits to be taken advantage of by fintech opportunists. With data being such a hot commodity, it should come as no surprise that the only thing that is not happening with data is sharing. In a recent article in the Australian Financial Review, […]

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Standardisation of data access crucial to development of Australian fintech industry

Media Release: Sydney, 4 April 2016 – One of the major challenges facing the emerging Australian fintech sector is the lack of a standardised format for accessing financial data. The complexities of accessing sufficient institutional and client data will be a major limiting factor for many of the fintech companies now trying to establish themselves in the Australian and international markets. Earlier this month, in its statement on the fintech sector, the Government highlighted the need to increase data availability across the financial service sector, to allow new products and services to be developed and support new offerings made available to the market. While supporting the Government’s initiative, InvestmentLink Chief […]

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