peer to peer

Dec
21

Two FinTech disruptors hit the ASX

Two new Diversified Financial offerings listing on the ASX have the potential to shake things up for money lenders in both the consumer and commercial space. The companies are Directmoney (DM1) – a Peer to Peer (P2P) lender with a twist; and zipMoney (ZML) – a unique online credit provider for consumers and businesses. Both are prime examples of one of the hot long-term trends in technology – FinTech, or financial technology. FinTech companies are disrupting traditional financial services with the use of software and online platforms. In truth, disruptive activity in financial services pre-dates the Internet and the extensive use of sophisticated financial software. Dealing with traditional banks for […]

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Dec
03

Fintech’s advantages: financial technology revolution is a boon for investors

There are definitely a lot of exciting new opportunities for investors to get involved in FinTech. Whether its investing capital in the products that are offered by new FinTech companies or direct investment in these companies now is the time. We are starting to see more and more articles about the opportunities in main stream media and we must surely be about to reach the tipping point. In my own experience the mention of FinTech is drawing fewer and fewer blank stares today than it was even a few months ago. A ‘Financial Revolution’ is a great way to describe our current position. We would love to hear your thoughts […]

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MoneyPlace second Aussie P2P lender for mums and dads

Melbourne start-up MoneyPlace became the second Australian peer-to-peer lender to open its virtual doors to mum and dad investors on Monday. The company, led by former NAB banker Stuart Stoyan and backed by Westpac’s former head of retail banking Rob Coombe, provides a platform for investors to make personal loans. Borrowers can get loans of between $5000 and $35,000 for terms of three to five years directly from individual lenders via MoneyPlace at rates starting at 8.99 per cent. It claims investors can earn returns from 7.8 per cent. After two years building MoneyPlace, including a 13-month approval process with the corporate regulator, it “matched” its first loan last week. […]

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Oct
28

Five bank fees likely to disappear thanks to technology

WHEN you look closely, you may be surprised at how many bank fees, charges and costs you incur; as a result of their cosy oligopoly, Australian banks have become the most profitable in the world, collecting $29 billion in profit in 2015 or $1600 from every adult Australian. This financial year, bank profits are expected to top $30 billion after Westpac, CommBank, NAB and ANZ all raised interest rates outside of the RBA cycle, adding an estimated $1 billion to their bottom lines. But have you ever wondered why certain charges exist at all – or what could be done to get rid of them? A new breed of technology-focused […]

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Oct
27

Peer-to-peer lenders attract investors with double-digit returns

Savers are earning almost 10 per cent a year by lending online through banking’s answer to eBay. Peer to peer or P2P lenders, to use their cyber-savvy name, are auction sites for potential lenders and borrowers who bid an amount and an interest rate. The biggest are RateSetter​, aimed at ordinary investors, and SocietyOne​, which caters for professionals. The most common reason borrowers apply for a peer-to-peer loan is to buy a new car. Both run the credit checks for you. Still, it’s a big jump from investing in a government-guaranteed term deposit to an unsecured loan to somebody you don’t know and never will. But so far the risk […]

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Oct
20

Why these giant Chinese companies could destroy Australia’s fintech ambitions

Fintech companies are some of the hottest startups around right now. Incredibly, more than 20 are now valued over $US1 billion. Australian credit reference fintech, Veda, might get bought for $2.2 billion. The possibilities offered by fintech are enormous. Mobile payments, payment terminals, smart contracts, smart bonds, P2P lending and crowdsourcing are all examples of new technologies that pose a risk to core services provided by the financial establishment. This is why they want in. According to some, Australia has the potential to be a leader in the sector. Australian super funds are investing heavily, with First State Super launching its own venture capital platform just weeks after putting $110 […]

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Oct
15

FinTech changing the landscape

The emerging world of financial technology, or fintech, is having an impact on everything from the way new products are funded through to the culture and practices of major banks and financial institutions. According to Simon Cant, co-founder and co-managing director of venture capital player Reinventure Group, fintech is basically anything providing some version of a financial service using modern digital technology. “Fintech is affecting, in particular, the way consumers and SMEs are conducting their business,” he said. “Fintech is providing a better user experience, providing financing that is cheaper and is more convenient. “One of the earliest examples of new funding mechanisms is Kickstarter, where a technology platform underpins […]

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Melbourne fintechs rival Sydney, but help needed

Melbourne peer-to-peer lender MoneyPlace has identified a rash of new fintechs that have started up in the city in the past five years, but argues they in danger of being lured offshore without government help. The first survey of Melbourne’s fintech scene by the lender’s founder Stuart Stoyan has uncovered more than 500 people being employed by 52 companies – three-quarters of which are less than two years old. KPMG released a study of fintechs in Australia in late 2014. It identified 950 start-up businesses in Sydney and about 350 in Melbourne. It has no exact figures for what proportion are fintechs, but estimated there are at least 150 based […]

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