Tagged: australia

Australia: Fintech Sector Profile & Landscape (Infographic)

Australia 100 Dollars Money

Accompanying the Fintech Australia Census 2016, published by EY and Fintech Australia, were several infographics highlighting the emerging Fintech ecosystem in Australia. One of the visualizations involved “Fast Facts” which included some interesting data points. The largest sector concentration is in Lending at 25% Personal finance… Read More

EY Publishes Fintech Australia Census: A Tier One Fintech Nation

Australia Money

EY has published the first Fintech Australia Census.  The report is designed to be the “most detailed and comprehensive analysis of the Australian Fintech ecosystem.” The document was produced in concert with Fintech Australia, the advocacy group created to help boost utilization and awareness of Fintech…. Read More

Finally. Australian Parliament Re-Introduces Crowdfunding Legislation

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The Australian House of Parliament has re-introduced legislation to improve the environment for investment crowdfunding. The bill, or Corporations Amendment (“Crowd-Sourced Funding”) Bill 2016, has been widely anticipated to begin the legislative process this year.  The bill was introduced by the Treasurer, Scott Morrison, MP…. Read More

FinTech Australia Receives $200,000 Funding Grant From Federal Treasury

fintech

FinTech Australia, a national association for the Australian FinTech Startup community, announced earlier this month it received a $200,000 funding grant from the Federal Treasury. This news comes just a few months after the organization secured $300,000 from Launch Victoria. Federal Treasurer Scott Morrison MP revealed details… Read More

Australian Treasurer Promotes the Benefits of Fintech & Regtech

scott-morrison

The debate regarding Fintech revolution almost always includes a discussion of regulation. And it should. The financial industry is one of the most regulated sectors of commerce there is. But as Fintech has evolved an emerging ecosystem of firms seeking to facilitate regulatory compliance has… Read More

Trade Me Invests $670,000 in P2P Lender Harmoney

harmoney-p2p-2016

Trade Me (ASX:TME) has purchased $670,000 woth of shares in New Zealand based P2P lender Harmoney. The investment was said to be designed to hold its stake at 14.4%. Harmoney also operates in Australia. According to a report in NBR, Trade Me purchased 1.3 million… Read More

Australian Fintecher Credit Savvy: 200,000+ Users Strong and Growing Savvier

australia banknotes wallet

The Australian credit reputation website Credit Savvy announced that its platform has reached 200,000 users. The website provides Australians with free access to their Experian credit scores, monthly score updates, a knowledge center to learn about credit and a comparison tool that lets users research and… Read More

Australian Government Eyeing Big Banks to Prevent Blockchain Monopolization

australia-competition-and-consumer-comission

The Australian Competition and Consumer Commission (ACCC), an independent arm of the Australian government that aims to regulate competition in the market and uphold national consumer law, has been closely eyeing four big banks to prevent attempts of monopolizing the blockchain industry in fintech. The banks… Read More

Australian ASIC & Canadian OSC Align to Sign Fintech Pact Reflects Commitment to Emerging Businesses

maureen-jensen

Under a new agreement, fintech companies in Australia and Ontario will be able to draw on support from the combined resources of their financial regulators as they seek to operate in the others’ market. Signed in Toronto this week, the Australian Securities and Investments Commission… Read More

DirectMoney Secures Institutional Funding Deal for New Loans

anthony-nantes

Australian online lender DirectMoney (ASX: DM1) has secured institutional funding for loans originating on its platform, according to the company’s board of directors.   The specific details were not immediately available but reportedly contractual terms on the wholesale institutional loan funding agreement was made with… Read More

CoAssets Partners with Linca Group on EPIC China Series

Getty Goh and Robert Reynolds

CoAssets Limited (ASX: CA8), a Singapore-based crowdfunding platform and even organizer, is partnering with the Linca Group, with the support of the Fuzhou district government, to bring their EPIC series to Fuzhou, China. Entitled “One Belt, One Road – Infinite Possibilities”, the Expo in Property, Investing and… Read More

KPMG Australia Shares Initial Results from Fintech Accelerator

james-mabbott

KPMG Australia has released some “key takeaways” from their Fintech Accelerator mLab, a program that was launched in August this year. The approach was to match authorised deposit taking institutions with early stage Fintech firms. The accelerator program included seven Australian mutual banks and credit… Read More

Marketplace Lender DirectMoney Appoints New CEO

anthony-nantes

Australian marketplace lending platform DirectMoney has appointed Anthony Nantes as CEO. Former CEO Peter Beaumont will move into the Chief Operating Officer role. DirectMoney released a statement that Nantes will bring a set of skills that will deliver the next phase of company growth.  DirectMoney… Read More

Australia’s H2Ocean Receives Support From Various Financial Service & Technology Industry Figures

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Following its official launch by Australia’s treasurer, Scott Morrison, H2Ocean Limited announced it received support from financial services figures, Link Group Chairman Michael Carapiet and Perpetual Guardian founder Andrew Barnes. Other supporters include technology industry figures Atlassian co-founder Mike Cannon-Brookes, AfterPay Executive Chairman Anthony Eisen, Ratesetter Australia… Read More

Beyond Bank Snags A$1.5M SocietyOne Equity, Moves into Fintech

wayne-matters

Beyond Bank Australia has announced its equity stake in SocietyOne, reported Australian Broker, having acquired A$1.5 million worth of shares in marketplace lender, as well as agreeing to increase its funding arrangement to A$10M. Earlier this year, SocietyOne raised A$25M capital from traditional financial firms G&C Mutual Bank and the Maritime, Mining… Read More

Executive Shakeup at SocietyOne as Founders Take on New Roles

Jason Yetton

SocietyOne, Australia’s largest marketplace lending platform, has rearranged the executive bench according to multiple reports. Founders Co-founders Matt Symons and Greg Symons (not related) have recently updated roles. Matt Symons will now become a non-executive director of the online lending firm. He is currently listed as… Read More

IPO: Equitise Lists H2Ocean Limited Offer on Crowdfunding Platform

asx-ipo-h2ocean-on-equitise

Equitise’s First Big Syndicated Transaction. H2Ocean Limited is in the process of doing an initial public offering (IPO) in Australia.  The shares are expected to list on the ASX this coming October. As part of the process, H2Ocean is offering shares via an offer on Equitise –… Read More

CommonWealth Bank & Barclays Team Up To Help Customers Move Funds Between Australia & the UK

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On Friday, Commonwealth Bank of Australia (CBA) and Barclays announced they formed a partnership to allow users of both their apps, CommBank app and Pingit, to move money between Australia and the UK. The two companies have reportedly worked together to connect each of their payment… Read More

New Zealand Online Lender Harmoney Tops $300 Million in Less than 2 Years

Harmoney $300 Million

Harmoney, a New Zealand based peer to peer lending platform, has surpassed $300 million in lending just shy of their 2 year anniversary of consumer lending. According to their website, Harmoney’s bulk of borrowing has been for debt consolidation.  Interest rates start at 9.99% today. Lenders… Read More

CoAssets Successfully Lists on Australia’s Securities Exchange

CoAssets EPIC Malaysia 2015

Singapore-based crowdfunding platform CoAssets announced on Monday it has officially listed on the Australian Securities Exchange Ltd (ASX). This news comes after the funding portal raised  S$6.72 million (A$6.55 million)1 under its Public Offer at an issue price of S$0.41 (A$0.40) per share. The company revealed… Read More