big data

Mar
22

InvestmentLink launches new data service for growing fintech sector

MEDIA RELEASE: Sydney, 22 March, 2016 – InvestmentLink, Australia’s largest financial data source, today announced the launch of a new data service specifically developed for the growing fintech sector. InvestmentLinkRT (ILRT) provides software developers an expanded data link directly into their applications, allowing for the development of more holistic and engaging software products.   ILRT extends the range of data feeds already available through the existing InvestmentLink data platform, allowing users access to an unparalleled hybrid data source of over 600 direct and client-authorised feeds.   Client-authorised feeds will be delivered in minutes and will cover feeds that have until now been difficult to obtain, such as individual bank, mortgage, […]

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Mar
22

Australia’s banks could be forced to share data with fintech start-ups

Treasurer Scott Morrison is considering forcing Australia’s big banks to share more of their data with financial technology start-ups to bolster the country’s comprehensive credit reporting scheme. The announcement was made as part of the government’s new policy vision for growing the fintech sector, launched today. It revealed it would direct the Productivity Commission to review “options for improving data availability and use”, including weighing up calls from the fintech sector to make comprehensive credit reporting mandatory. The fintech industry’s request draws from a perceived reluctance on the part of the big banks to take part in the comprehensive credit reporting scheme, which was introduced in March 2014 to allow […]

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Mar
22

Fintech funding pressures banks

The big banks’ allegedly sluggish adoption of a regime to boost the flow of credit data among financial services companies will come under the spotlight of the Productivity Commission as the federal government steps up ­efforts to stimulate the burgeoning fintech industry. Scott Morrison yesterday revealed a range of measures to support financial technology companies, including cutting GST on digital currencies, such as bitcoin, and clarifying tax concessions for venture capital (VC) investments in fintech start-ups. The Treasurer also commissioned the Productivity Commission to review so-called comprehensive credit reporting and “outline options to increase data availability”, strengthening its scrutiny of the regime. “Fintech advances have the potential to radically transform […]

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Mar
15

truRating launches in Australia, empowering businesses to capture mass customer feedback at point-of-payment

Award-winning UK-based point-of-payment rating system, truRating, has officially launched in Australia, giving businesses a straightforward and cost-effective way to collect immediate feedback from their customers when they pay. Using the payment terminal, truRating presents customers with a single feedback question, asking them to rate an aspect of their experience using a scale of 0-9 on the keypad. This gives companies a real-time, mass-market view of customer satisfaction and overall company performance on key metrics such as service, value or product selection, providing the insight they need to make changes and improvements. The UK fintech startup has demonstrated impressive growth, with over one million ratings processed globally to date, averaging 8,000 […]

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Mar
11

Fintechs push Morrison to enhance quality of credit data

Treasurer Scott Morrison has been urged to turn his encouraging words about fintech into action by pushing the big banks to share more information about customers to boost competition. In an article published in Thursday’s The Australian Financial Review, Mr Morrison said fintech could become a driver of economic growth and said the quality of data was important to those companies seeking to disrupt incumbents. Exactly two years since the comprehensive credit reporting (CCR) regime came into force, the fintech industry wants the government to mandate the regime and to extend the categories of data it captures. Data reported under the CCR allows competitors to the big banks to price […]

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Mar
10

Australian FinTech Startup Credit Savvy hits 100,000 Members

PRESS RELEASE: Australian Fintech Startup Credit Savvy Hits 100,000 Members Financial services startup Credit Savvy announced today that it has reached 100,000 users just shy of its first birthday, cementing its place in Australia’s booming ‘fintech’ sector. Credit Savvy provides Australian consumers with free access to their Experian credit score, a summary of their credit file and a marketplace of credit products. It also allows its users to track their credit score over time with free monthly score updates and alerts when key changes are made to their credit file. The startup has already made available over 600,000 free credit scores to its member base, with its highly active users […]

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Mar
01

Tech startup investor David Jackson launches P2P fintech platform FundX

Prominent Sydney-based venture capital investor David Jackson has branched out from advisory positions and founded FundX to help small and medium-sized businesses get funding. Mr Jackson, was an early stage investor in businesses such as Ingogo, Hey You, Crowd Mobile and Drive My Car and is well known in the local tech start-up industry. He is part of fintech incubator Stone & Chalk, tech accelerator BlueChilli and a board member of angel investment group Sydney Angels. Despite only being in beta testing since October, his peer-to-peer lending site has processed $1 million in loans and rejected another $5 million. FundX uses big data, machine learning and predictive algorithms to assess […]

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Jan
20

Rise in data theft opens door for fintech

The ability to protect sensitive client information will be an integral driver for fintech companies, argues Midwinter managing director Julian Plummer. In a statement, the head of the financial planning software provider said companies that can secure high volumes of confidential data will become particularly important to the financial services industry in the coming years. “Ensuring the safety of all sensitive client data for our advisory clients has become a top priority for Midwinter, and we have taken extreme actions to ensure that information is managed and stored securely, so as to continue Midwinter’s clean slate of zero security breaches.” Zirilio executive managing director Tom Dole said he has seen […]

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