Search Results for: australia

Australian Fintech Airwallex Secures $160 Million Through Series D Funding Round; Bring Total Equity Raised to $360 Million

Airwallex, an Australia-based fintech company, announced on Thursday it secured $160 million through its Series D funding round from various investors, such as ANZi Ventures, Salesforce Ventures, DST Global, Tencent, Sequoia Capital China, Hillhouse Capital, and Horizons Ventures. The latest funding brings Airwallex’s total equity… Read More

FinTech Australia Partners With Tier One People To Launch Talent Marketplace for Australian Fintechs

FinTech Australia announced on Tuesday it has teamed up with Tier One People to launch a new talent marketplace specifically for Australian fintechs. According to the organization, this new marketplace will run through LinkedIn Groups and aims to connect candidates with prospective employers and help… Read More

Australia: Prospa to Participate in Government’s SME Guarantee Program

Online lender Prospa Group Limited (ASX: PGL) has received access to the Australian government’s SME Guarantee Scheme to support small businesses impacted by the COVID-19 pandemic. The Fintech believes it is uniquely placed to implement the Government’s initiative. The Coronavirus Small and Medium Enterprises Guarantee… Read More

Contactless Payments: Commonwealth Bank of Australia Reports Significant Increase in Digital Wallet Transactions Following COVID-19 Outbreak

The Commonwealth Bank of Australia (CBA), a global bank with businesses across New Zealand, Asia, the UK, and the US, recently noted that there’s been a significant increase in mobile-based digital payments at point-of-sale (PoS) terminals. This, as Australian residents may be trying to avoid… Read More

Australian Neobank 86 400 Secures $34 Million in Capital from Morgan Stanley, Others

Cuscal-backed digital bank 86 400 has secured $34 million in funding from its first outside investors. The Australian neobank’s Series A investment round was led by Morgan Stanley. The banking challenger has acquired a total of $90 million in capital. The bank’s latest round included… Read More

Australian Digital Bank Up Slashes its Savings Interest Rate, Following Reserve Bank’s Recent Cuts

Up is the latest digital banking service provider to slash its savings rates following the Reserve Bank of Australia’s recent cut to the nation’s official interest rates. The Melbourne-headquartered neobank has adjusted the maximum rate on its Saver Account. The new rate has been marked… Read More

Australian Digital Bank Xinja Selects Cloud Content Management Provider Box

Xinja, a an Australian digital bank, has selected Box (NYSE:BOX), a cloud content management provider, to help with improving its client interactions through the neobank’s mobile app. Xinja clients’ bank statements and account data will be sent via a portal that’s operated and managed by… Read More

Gobbill, a Fraud Detection and Payment Automation Firm, and AirPay Integrate AliPay, WeChat Payments into Today Australia Media Platform

Australia-based Gobbill, a fraud detection and payment automation firm, and AirPay, a Chinese mobile payment company, have integrated Alipay and WeChat payment functionality into a media platform, called Today Australia. The integration will allow users to make payments via a feature called “ToPay,” which comes… Read More

Financial Software Provider, Iress, to Offer Free Technology-related Information to Australia’s Fintech Sector as Country Adjusts to Working Remotely During Coronavirus Outbreak

Australia-based Iress is launching a new hub that will offer free technology-related information and support for the financial services sector as it begins to adjust to new ways of completing tasks during the coronavirus (COVID-19) outbreak. Visitors will have access to guidance and tools such… Read More

Parliament of Australia: Select Committee on Fintech & Regtech Re-Opens Comments on Sector in Light of COVID-19 Pandemic

The Australian Select Committee on Financial Technology and Regulatory Technology (ie Fintech and Regtech) has re-opened a consultation in light of the ongoing Coronavirus or COVID-19 pandemic. According to the Australian Parliament: “Since the committee finished its last round of public hearings in February, Australia’s… Read More

Digital Banking: Australia’s Tyro Payments Reports that its Transaction Volumes are Steadily Increasing During Coronavirus Outbreak

Sydney-based Tyro Payments (ASX: TYR), an Australian Fintech institution that specializes in merchant credit, debit and EFTPOS acquiring, reports that its transaction volumes during the past three weeks have been steadily increasing. Tyro Payments notes that from March 1 to March 20, there was a… Read More

COVID-19 Impacts Australian Stock Exchange Transition to DLT Based Replacement for CHESS

Earlier today, the Australian Stock Exchange (ASX) announced that its planned replacement for CHESS – the backbone system of the stock exchange has been impacted by the COVID-19 pandemic. The exchange said the implementation timetable has been altered due to the uncertainty created by the unfolding… Read More

Digital Banking: Australia’s Neobank Xinja Secures $433 Million in Capital from Dubai’s World Investments

Dubai’s World Investments is reportedly investing $433 million in Australia-based digital bank Xinja over the next couple years. This, after the mobile-first bank’s steady customer growth. Subject to pending regulatory approvals, Xinja bank will be able to access $160 million in capital immediately. The remaining… Read More

Fintech Australia Postpones Finnies Awards Amid COVID-19 Pandemic

FinTech Australia announced on Monday it has postponed its 2020 Finnies Awards amid the COVID-19 pandemic. According to the organization, the Finnies is Australia’s only industry-backed fintech awards and the event gives more than 100 fintech startups the opportunity to be recognized for their achievements…. Read More

Australian Telecom Firm ZipTel to Acquire Fintech Firm Douugh Ltd

Australia-based ZipTel Ltd (ASX: ZIP), a local telecommunications firm that provides international roaming and various calling solutions, has committed to a binding agreement to acquire all the outstanding shares of Douugh Ltd. Douugh Ltd is a Fintech company that aims to use artificial intelligence (AI)-enhanced… Read More

Prospa CEO Comments on Australian Government’s Support of Small Lenders to Back Businesses During COVID-19 Pandemic

Yesterday (March 19), the Australian Government announced an investment of up to $15 billion to enable smaller lenders to continue supporting Australian consumers and small businesses due to the Coronavirus (COVID-19) pandemic. In a statement by The Hon Josh Frydenberg MP, Treasurer of Australia, he… Read More

Major Australian Digital Banks 86 400, Volt Bank, Up Slash Savings Account Interest Rates, Following Reserve Bank Cuts

Three major Australian neobanks have slashed their interest rates by 0.25% during the past few days, following the decision taken this month by the nation’s reserve bank to reduce rates. 86 400 was reportedly the first Australian digital bank to reduce the maximum interest rate… Read More

Fintech Unicorn Marqeta Announces First Australian Transactions & Continues Expansion

Marqeta, a fintech unicorn that claims to be the first global modern card issuing platform, announced on Tuesday it has begun transacting in Australia. The company reported it will also be supporting two of its major global customers, Klarna and Doordash with their own expansions… Read More

Digital Banking Platform Mambu Selected by Australian Fintech Hay

Aspiring digital bank Hay has selected Mambu to power its platform as a full service neobank. According to a note from Mambu, Hay will its API based core banking platform to provide financial services in Australia. Hay opened up its waitlist for a digital transaction… Read More

Billionaire Richard Branson’s Virgin Money Partners Deloitte Digital, Temenos to Launch Digital Bank in Australia

Billionaire Richard Branson’s Virgin Money, a major financial services brand used by three independent brand-licensees based in Australia, South Africa and the UK, is teaming up with Deloitte Digital and Temenos, a Switzerland-based banking software company.  Through the partnership, Virgin Money plans to establish a… Read More

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