Tagged: australia

Online Lender SocietyOne Adds Two New Non-Executive Directors to Board: Melanie Cochrane and Jamie McPhee

Online lender SocietyOne has appointed Melanie Cochrane and Jamie McPhee as independent non-executive Directors. Cochrane is a former Senior Vice President at American Express, where she led the Merchant Services business for the Asia Pacific region and, prior to that, Corporate Payments. McPhee has extensive… Read More

CommBank’s x15ventures Makes Strategic Investment to Acquire Minority Stake in Payble, an Identitii Bill Payment Subsidiary

CommBank’s x15ventures has reportedly made a £1 million investment in order to acquire a significant minority stake in Payble, an Identitii bill payment subsidiary. As mentioned on its official website: “Payble™ is a better way to get paid. Improve cash collection, lower transaction costs and… Read More

Australian Comparison Site Finder Confirms Acquisition of the GoBear Brand as Part of Global Expansion Strategy

Finder, a Fintech firm established in Australia back in 2006, has reportedy acquired the GoBear brand as it focuses on its international expansion plans. Now live in many different countries and serving over 10 million consumers globally each month, Finder is one of the world’s… Read More

Open Banking Firm Nuapay Acquired by EML Payments for €100 Million

EML Payments Limited (ASX: EML) has acquired Sentential and its wholly-owned subsidiaries including open banking firm Nuapay. The binding agreement totals €110 million including an upfront enterprise value of €70 million plus an earn-out of up to €40 million. Sentenial is a cloud-native payments company… Read More

High-Interest DeFi Token Clever (CLVA) Listed on Uniswap, an Ethereum Token Exchange that Recently Launched New Features

The developers of Clever DeFi (CLVA), a crypto token that claims to offer 307% returns during the first year and 445% during the second year, state that they’re the first “pure-DeFi” initiative  with “zero team tokens and complete decentralization.” Clever DeFi also claims that it’s… Read More

Bank Closures Continue Across the Globe, as Digital or Online Banking Becomes the Norm in Post COVID World

George Holland, Mayor of Moorhead, Mississippi, recalls the feeling he experienced when  Regions Bank announced it was shutting down its physical branch in his town just a few years back. As reported by NPR, Holland noted that it was the only banking service provider in… Read More

Airwallex Raises $100 Million in Series D Extension at $2.6 Billion Valuation

Payments platform Airwallex has raised an additional $100 million in an extension of its Series D funding round that brings the total to $300 million. Airwallex was valued at $2.6 billion in the round. To date, Airwallex reports having raised almost $500 million in equity… Read More

Australian Buy Now Pay Later Zip Announces Expansion Into Contactless Pay

Zip, an Australia-based buy now pay later (BNPL) platform, announced over the weekend its plans to expand into contactless payments. Zip describes itself as an interest-free payment solution for everyday spending. “With Zip, it’s win-win. Customers love the freedom and flexibility we offer them. Our retail… Read More

Railsbank Expands into Australia in Partnership with Digital Bank Volt

Railsbank, a Banking as a Service (BaaS) platform, has expanded into Australia in partnership with digital bank Volt. Founded in 2016, Railsbank is based in the UK and offers APIs and apps for financial services firms to offer modern services. Volt is the first digital… Read More

Digital Banking Challenger 86 400 Receives Awards for Pay and Save Accts, Recently Partnered BioCatch to Enhance Fraud Protection

Digital banking challenger 86 400 reveals that it has received 3 awards from RateCity for its Pay and Save accounts, including the Best Bank Account for the product Pay Account, the Best Regular Savers Account for the product Save Account, and the Best Savings Account… Read More

Australia Is Home to At Least 733 Active Fintech Firms, Up from 629 in September 2019: Report

Australia is currently home to at least 733 active Fintech firms, up considerably from 629 back in September 2019, according to the KPMG Fintech Landscape 2020 map. This represents an increase of 104 firms that joined the nation’s financial technology industry between September 2019 and… Read More

Digital Assets Firm BlockFi Launches Private Client Services Offering for UHNWIs and Sophisticated Investors in APAC Region

BlockFi Inc., a financial services firm that’s focused on creating a bridge between digital currencies and traditional financial and wealth management products, has revealed that it has launched a Private Client Services offering for investors in the APAC region. BlockFi confirms that the new initiative… Read More

Fintech Australia Chair Simone Joyce Says Banks are “Risk Averse,” Suggests that Better Policies Are Needed to Support Fintechs

Rebecca Schot-Guppy, CEO at FinTech Australia, says that her organization thinks that Australia is on the right path in terms of financial technology adoption and its overall approach to developing its economy. Rebecca, whose comments came during the Select Committee on Financial Technology and Regulatory… Read More

Fintech Consumers of 2030 could be More “Data-Aware” and “Discerning” in What Information They Share, KPMG Report Predicts

Big Four auditing firm KPMG in Australia has released a report, titled, The 30 Voices, which aims to cover “every facet” of financial services and beyond. It features insights related to developments from incumbents to banking challengers, Big Tech firms to investors, legislators to academics…. Read More

Westpac Group in Australia Reveals that Marketplace Lender SocietyOne has joined its Digital Banking Platform

The Westpac Group in Australia has revealed that SocietyOne is its second partner to join­ the institution’s new digital banking-as-a-service (BaaS) platform. SocietyOne is a key Fintech player in the nation’s digital lending sector (having originated more than $1 billion in loans). According to a… Read More

Australian Fintech Linkly Appoints Former AfterPay COO Frerk-Malte Feller As New CEO

  Linkly, an Australia-based fintech, announced on Wednesday it has appointed former Global COO of Afterpay, Frerk-Malte Feller, as its new CEO. According to Linkly, Feller previously held senior exceutive positions at eBay and PayPal.  “The company’s solutions and the recent move into online payments,… Read More

Digital Banking Challenger 86 400 Reveals that 74% of Aussies Admit to having Disagreements About Money Management with Partners

Digital banking challenger 86 400 reveals that almost three-quarters (74%) of Aussies “admit to having disagreements” regarding money matters with their partner. This, according to a recent survey from 86 400, which claims to be Australia’s first “smartbank.” The survey, which had been released in… Read More

Australian Fintech InDebted Announces Expansion into the U.S. Market Through Acquisition of Delta Outsource Group

InDebted, an Australia-based fintech that specializes in digital debt collection for unsecured consumer debt, announced on Monday it has acquired Delta Outsourced Group Inc. as it prepares to expand its services to the U.S. InDebted reported that the U.S. is the fourth market it has… Read More

BNPL Fintech Limepay Goes on Hiring Spree After Securing $21M in Capital with 7 Senior Appointments

Limepay, a Buy Now Pay Later (BNPL) provider, says it has gone on a “hiring spree” after securing $21 million in capital, with 7 senior hires according to a release shared with CI. Limepay claims that it’s Australia’s “only” enterprise payments and white-label BNPL and… Read More

Open Banking: Australian Financial Institutions Plan to Fully Support Responsible Customer Data-Sharing Practices by Nov 2022

The introduction of Australia’s Consumer Data Right (CDR) laws on July 1, 2020 marked the initial phase of Open Banking in the country, which may improve the services offered by the local banking sector. More than 6 months into CDR and Open Banking in Australia… Read More

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