data

Feb
26

TTL chooses blockchain consultant

Transcendence Technologies Limited (ASX: TTL) has appointed DigitalX Limited (ASX: DCC) as its blockchain consultant. DCC will perform an audit of TTL’s current product offerings and provide advice to the company’s board and upper management. DCC will also be tasked with exploring how synchronised digital data offerings could integrate into TTL’s current business model. TTL operates the prominent E-Collate data management platform and has worked in collaboration with PrimeXConnect on the management of a wholesale trading and supply chain for meat products. DCC CEO Leigh Travers said, “Blockchain technology could help producers, sellers and consumers follow meat products in transit from paddock to plate, by tracking measurements such as temperature […]

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Feb
09

Scott Morrison says data sharing regime will ‘revolutionise’ banking

Treasurer Scott Morrison said new rules to give bank customers control over their data will disrupt the major banks’ “stronghold” on information and encourage a new wave of fintech innovation. He said stringent security and governance rules along with safeguards to protect customer privacy would be be at the core of the federal government’s regime, due to start on July 1, 2019. Mr Morrison will release a report by King & Wood Mallesons partner Scott Farrell on Friday that will guide the Turnbull government’s approach “to giving consumers greater access to, and control over, their data”. The so-called “open banking” regime will allow customers, including small businesses, to instruct their […]

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Jan
31

Pocketbook connects to Macquarie in data sharing deal

Retail banking data is flowing between a bank and a fintech in Australia for the first time, after the budgeting app Pocketbook connected with Macquarie Bank’s new ‘open banking’ platform in a move the fintech says will improve its offering to customers. The data-sharing deal will allow Pocketbook, which has 400,000 users, to provide real-time notifications about spending patterns to its customers who bank with Macquarie. The connection into Macquarie’s banking systems via an application programming interface (API) is an improvement on the process Pocketbook uses to access data from other banks, which is only made available overnight. Pocketbook, which was acquired by ASX-listed Zip in 2016, would not disclose […]

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Fintechs gear up for open banking

A provider of data and analytics insights has acquired an Adelaide-based fintech as preparation for an open banking regime. Formerly Dun & Bradstreet, analytics firm illion has acquired Proviso, a specialist in automated bank statement retrieval, analysis and categorisation solutions. Proviso was founded in 2013 by Luke and Dallin Howes and counts major banks and non-bank lenders among its clients. The timing was right for Proviso to tap into a wider network of customers, while also gaining access to illion’s extensive data analytics capabilities, Proviso chief executive Luke Howes said. “Proviso has grown considerably since 2013, developing innovative products, forming great customer relationships and providing services to millions of consumers […]

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Nov
09

FinTechs present a policy wish-list

Improvements to the R&D initiative and government-mandated open data controls are top of the Australian FinTech industry’s wish-list, while gender diversity remains a major issue for the sector, a new survey has found. The 2017 EY FinTech Australia Census, released late last week, surveyed 166 local FinTech companies. This is the second year of the census and is the only industry-backed survey of its kind. The biggest things thing these companies said would help them to grow was improvements to the research and development scheme, with nearly 90 percent of the companies supporting this. The industry is still waiting on the government to respond to the controversial ‘Three F’ review […]

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Oct
31

Data revolution to transform four pillars model

You’re browsing through Facebook when a message pops up, asking if you’d like to check whether you’re getting a decent interest rate on your savings. Curious, you tap the screen to find out more. It asks you to provide a bit more information about your financial goals – you’re saving for a deposit on a house and hope to buy in about two years. You are then asked to give consent to securely share some key bits of financial information online: your income over the last six months, and your spending over this period. Within seconds, the app has a recommendation: it’s found a bank account and term deposit that […]

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Oct
09

Banks want to charge for handing over customer data

Major banks want to charge fintech businesses in exchange for handing over data on the banks’ customers, a sign of the likely tensions to emerge as the government looks to break open the banks’ information vaults. In a move that could have far-reaching implications for banks and their customers alike, Treasurer Scott Morrison earlier this year ordered an investigation into “open banking”, a system that would allow customers to securely share their financial data with rivals. While the banks are supportive of the general move, submissions to a Treasury have highlighted the cost of making more transaction data available, with suggestions banks could face costs in the hundreds of millions […]

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Sep
25

Sexiest Job of the 21st Century: Data Scientist

Data miner? Web analyst? Information wrangler? Harvard Business Review[1] labelled it the “sexiest job of the 21st Century” and the opportunities are exploding and salaries rocketing for astute professionals choosing “data science” as their career. As industries and governments worldwide race into the era of Big Data, James Cook University (JCU) is giving its students a head start with a fast, fully online and keenly priced Master of Data Science that offers students a potentially rapid return on their investment. Graduates will enjoy up-to-the-minute skills in the scientific methods, systems and processes used to unlock the secrets hidden in data. This ability to deliver insights and solutions by analysing data will give graduates an edge […]

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