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
Birchal, the leading securities crowdfunding platform in Australia (crowd-sourced funding in Aussie) has revealed its first partnership with an outside investor to fund a startup that is listed on its marketplace. Professional investors like VCs or Angels can provide important signalling for retail investors about… Read More
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
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
Birchal, the leading securities crowdfunding platform in Australia, has added a crowdfunding OG to its roster of resources. According to a note shared by Birchal, Darren Westlake, founder and former CEO of Crowdcube, joins Birchal as Strategic Advisor. Additionally, Birchal says that Rod Bristow, former… Read More
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
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
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
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
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
Australian crowdfunding platform Equitise has entered administration after failing to secure new funding necessary to sustain its operations, according to a filing lodged with the corporate regulator seen by The Australian Financial Review. It was reported earlier this year that Equitise had lost its license… Read More
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
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
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
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
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
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
The Reserve Bank of Australia (RBA) and Treasury released a report this past week summarising research to date on central bank digital currency (CBDC) and how this has informed the RBA and Treasury’s current assessment of CBDC issues in Australia. The report also sets out… Read More
ASIC expands operational resilience guidance for market participants. ASIC (in Australia) has officially released a letter to market participants “outlining technological and operational resilience guidance, clarifying how to identify critical business services and notification of a major event.” The guidance relates to the technological and… Read More
Payment cards are the most are the preferred payment method for e-commerce purchases in Australia, collectively accounting for 50.6% share in 2023, reveals GlobalData, a data and analytics company. GlobalData’s E-Commerce Analytics reveals “that Australian e-commerce market is estimated to register 8.3% growth in 2024… Read More
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