Search Results for: australia

January 15, 2025 @ 4:49 pm By Omar Faridi  |  

The CommBank Household Spending Insights (HSI) Index fell by 1.8 per cent in December 2024 after a “strong” Black Friday sales spending boost in November of last year. As noted in the latest report from Australia‘s CommBank, the fall was driven by an “8.3 percent… Read More

January 8, 2025 @ 3:48 pm By JD Alois  |  

Birchal, Australia’s leading investment crowdfunding platform, has lost a co-founder and CEO. Matt Vitale has announced his decision to exit his role at the platform. Vitale said in the blog post that after “deep reflection,” he was leaving the company he helped to launch eight… Read More

January 6, 2025 @ 8:53 pm By Omar Faridi  |  

Digital transformation, and use of emerging technologies like AI are the key issues Australian business professionals will focus on during 2025 and beyond, KPMG’s annual Keeping Us Up At Night survey finds. Concerns over the slowing economy, and cost of living are also prominent, the… Read More

December 19, 2024 @ 5:07 pm By Omar Faridi  |  

Macquarie Real Estate Partners (MREP), a real estate fund managed by Macquarie Asset Management’s Real Estate division (MAM), announced it has invested in IDA, an Australian specialist real estate private credit and investment manager. The investment by MREP will provide funding to support the growth… Read More

December 11, 2024 @ 6:15 pm By JD Alois  |  

Birchal, an online investment platform based in Australia, says it has raised $2 million in just 29 hours. The self-crowdfunding round was backed by more than 800 investors. Birchal says its own round was the fastest this year and the largest as well. Birchal is… Read More

December 10, 2024 @ 5:02 pm By Omar Faridi  |  

For the second year in a row, the Australian fintech landscape has seen a decline in the number of independent active fintech firms headquartered in Australia, with “a 7% fall between the 2023 and 2024” according to the KPMG Fintech Landscape. As foreshadowed in KPOM’s… Read More

December 5, 2024 @ 5:06 pm By Omar Faridi  |  

Australian companies’ use of AI in their finance functions is growing steadily – and the Return on Investment (ROI) on AI is exceeding, or at least meeting, expectations, a KPMG International study has found. And a quarter or 25% of Australian and overseas organizations are… Read More

December 3, 2024 @ 7:11 pm By Omar Faridi  |  

Only a month out from the December holiday seasons, eCommerce retailers are witnessing signals of renewed consumer confidence as international sales drive considerable spending growth, according to the Digital Economy Index by Airwallex, an Australian-founded leading global financial platform. After a “rocky” start to 2024,… Read More

November 28, 2024 @ 1:40 pm By Omar Faridi  |  

Commonwealth Bank of Australia (CBA) has outlined how artificial intelligence is helping to transform the experiences it delivers to its 10 million-plus customers. At a key update in Sydney, the CBA reportedly showcased the role technology and AI are playing in delivering a number of… Read More

November 24, 2024 @ 6:42 pm By Michael Wong  |  

Australia’s Department of the Treasury has initiated a consultation on implementing the Organisation for Economic Cooperation and Development’s (OECD) Crypto Asset Reporting Framework (CARF). The framework is designed to enhance tax transparency and improve compliance by standardizing the collection and exchange of tax-related information on… Read More

November 20, 2024 @ 5:22 am By Omar Faridi  |  

Australians are freeing up more of their wallet for discretionary purchases with a focus on value and convenience, according to the CommBank iQ Cost of Living Insights analysis. Overall spending continues to trail inflation, up by just “1.5 per cent compared to the same time… Read More

November 17, 2024 @ 9:30 pm By JD Alois  |  

In a move to expand its operations, Crypto.com has acquired Fintek Securities Pty Ltd. (Fintek), a brokerage service and trading company that holds an Australian Financial Services Licence and is regulated by the Australian Securities and Investments Commission (ASIC). Founded in 2016, Crypto.com reports over… Read More

November 7, 2024 @ 7:39 pm By Omar Faridi  |  

Xero, the small business platform, released its Xero Small Business Insights (XSBI) update, highlighting that Australian small businesses are persevering amid challenging macroeconomic conditions and still outperforming small businesses in other countries. As noted in the research report shared by Xero, here are takeaways from… Read More

November 4, 2024 @ 10:43 pm By Omar Faridi  |  

New research reveals that more than two-thirds of younger Australians use some kind of budgeting methods. It comes as digital banking platform Ubank introduces a Bills account in addition to their Spend and Save accounts. Australian digital bank, Ubank, has officially rolled out a new… Read More

October 29, 2024 @ 10:46 pm By Omar Faridi  |  

Most Australian tech professionals (81%) feel it is challenging to keep up with the pace of change, with 76% acknowledging their own role has evolved significantly over the last couple years, according to research from KPMG. Research for the KPMG Global Tech Report has recently… Read More

October 27, 2024 @ 4:31 pm By Michael Wong  |  

Australia has announced a three-year initiative to explore central bank digital currencies (CBDCs), focusing on wholesale applications, regulatory reforms, and industry engagement. Brad Jones, Assistant Governor (Financial System) at the Reserve Bank of Australia (RBA), shared details of the plan at an industry event in… Read More

October 11, 2024 @ 9:02 am By Omar Faridi  |  

Banked has reportedly gained foothold on Australia’s real-time payments market with the acquisition of Waave, sparking strategic partnership with Chemist Warehouse. Banked’s acquisition of Waave underscores commitment to building a truly global Pay by Bank platform. Waave’s work with Chemist Warehouse in developing Pay by… Read More

October 3, 2024 @ 11:01 pm By Omar Faridi  |  

With over half of the hard-earned money Australian small businesses lose to scams going to fraudulent investments, CBA Executive GM Rebecca Warren provides tips on how to identify a potentially fake investment opportunity. Approximately 90% all scams reported by CommBank’s business customers in FY24 came… Read More

October 2, 2024 @ 7:17 pm By Omar Faridi  |  

Experian, the data and technology company, announced the completion of its A$820 million acquisition of consumer and commercial credit bureau, illion, in Australia and New Zealand. The acquisition and integration of illion’s 500 strong team, data, software and intellectual property into Experian will create a… Read More

September 27, 2024 @ 2:25 pm By Omar Faridi  |  

eToro, the trading and investing platform, has entered into an agreement to acquire the Australian investing app Spaceship in a deal worth up to $80 million AUD. The acquisition will strengthen eToro’s footprint in “a key market for the business while also broadening its product… Read More