Tagged: australia

UK’s Open Banking Firm TrueLayer to Expand Business Operations into Australian Markets

TrueLayer, a computer software firm that enables companies to capitalize on new Open Banking initiatives in the UK, will be expanding its operations into Australian markets. TrueLayer has hired Brenton Charnley to lead its expansion into Australia’s Fintech sector. Charnley is the founder of Alpha39… Read More

Melbourne based Fintech Archa, which Provides Business Credit Cards, was Granted Prinicipal Issuing Membership by Mastercard

Melbourne-based Archa, a company providing a corporate credit card that’s “built around your business, keeping you in control,” has revealed that it was granted principal issuing membership of Mastercard. The Archa team notes: “This is a significant, mission-critical milestone for us as we continue to… Read More

Australian Fintech Parpera Secures $800,000 Through Equitise Campaign

  Parpera, an Australian fintech seeking to build an ecosystem of fair and transparent products and services that helps people to effectively setup, has successfully secured $800,000 through its Equitise campaign. Founded earlier this year, Parpera is developing a digital solution that will initially seek… Read More

FinTech Australia Appoints Paypa Plane’s Simone Joyce As New Chair; Announces Three New Board Members

  FinTech Australia announced on Monday it has made several new board appointments and has elected Paypa Plane founder and CEO Simone Joyce as Chair.  The three new appointments include:  Marie Mortimer, managing director of Loans.com.au and  director of FinTech QLD.  Nathan Walsh, Co-founder and… Read More

Australian Neobank Volt to Further Slash Interest Rates on its Savings Account, Other Digital Banking Challengers Also Making Cuts

Australian neobank Volt has confirmed that it’s planning to reduce the total interest rate on its Save account. The bank will slash the current rate by 20 basis points, so it will be lowered from the current 1.45% p.a. to 1.25% p.a. This new rate… Read More

Australian SME Banking Challenger Judo Bank to Use Cloud based Bank Operating System Developed by nCino

Australia-based SME challenger bank Judo Bank has chosen nCino (NASDAQ: NCNO) to help streamline its lending processes. Judo Bank will be using nCino’s Cloud-powered platform to enhance its services which are mainly intended for small businesses. nCino, Inc. is an established cloud banking and digital… Read More

Melbourne’s module8 Partners Nium to Launch Payment and Card-Issuing Services for Fintechs and Digital Banks in APAC Region

David Laird, CEO at modul8, a Melbourne based financial services firm, confirms that his company has teamed up with Nium in order to build better payments solutions in Australia and Southeast Asia. Nium is a global finance infrastructure firm. It will offer payment card-issuing services… Read More

Neobanks in Australia including 86 400, Xinja, Volt Forced to Further Reduce Interest Rates on Savings Accounts

Neobanks have been finding it quite challenging to maintain their competitive deposit rates. During the past few weeks, three Australian neobanks have reduced their rates and two of them have placed limits on the balances on which they’ll pay higher interest. Australia based digital bank… Read More

SocietyOne Reportedly Flattens 2000% Spike in Hardships Caused By COVID-19 After Development& Implementing Tech Solutions to Manage Hardship Request Surge

Australia-based marketplace lender SocietyOne announced on Monday it has successfully flattened a 2000 per cent spike in hardships caused by COVID-19 after developing and implementing a tech solution in less than 5 days to manage the surge of hardship requests. The lender noted prior to… Read More

Australian Fintech DataMesh Introduces Payment System which Enables Low Cost Automatic Routing via eftpos’ Debit System

Sydney-headquartered Fintech firm DataMesh Group has introduced a payment system that enables low-cost automatic routing through eftpos’ Australian debit system. DataMesh’s new payment solution should help merchants save as much as AUD 500 million per year in transaction fees, after it has been launched across… Read More

Following Series A Funding Success, U.S. Fintech Payrix Announces Australia & New Zealand Expansion; Completes Acquisition of

U.S. fintech Payrix announced on Wednesday it is set to expand its services in Australia and New Zealand, as well as completed its acquisition of Brisbane-based payment service provider, IntegraPay. The expansion efforts come just days after Payrix announced it secured $50 million through its… Read More

Open Banking: Australia’s IMB Bank Launches New Platform for Sharing Data on Deposits, Transaction Accounts

Australia based IMB Bank will be introducing Open Banking services. The mutual bank confirmed on October 5, 2020, that it would provide a new banking platform that can share certain financial data through an API integration. The NSW-headquartered building society IMB Bank noted that, during… Read More

Commonwealth Secretariat Develops Fintech Toolkit, Partners University of Cambridge and Oxford to Provide Training

Commonwealth countries are planning to further tap into the potential of Fintech applications. A new toolkit has been introduced to help countries with harnessing the potential of financial technology in order to achieve inclusive economic progress. The toolkit has reportedly been developed as a response… Read More

Goldman Sachs backed Fintech Lender Capify to Begin Issuing New Loans Again, After Securing $14 Million in Equity Capital

David Goldin, CEO and founder at Capify, a small business lender backed by Goldman Sachs (NYSE:GS), believes that the demand for new loans will rise again after the Australian government announced changes to lending laws and requirements. Capify confirmed that it will start issuing more… Read More

Australian Digital Banking Challenger Alex Is Planning to Secure $7.1 Million via Series B Round

Australia based Alex, a digital banking challenger, is reportedly planning to secure about A$10m (appr. $7.1 million) in capital through a Series B investment round. As first reported by the Financial Review, Alex’s team of senior management professionals have been focused on acquiring additional funding by approaching various… Read More

Australian Fintech Unicorn Airwallex Secures $40 Million in Additional Funding to Expand Operations Globally

Airwallex, an Australia-based Fintech company, has reportedly extended an existing $250 million investment round by $40 million (appr. AUD 57 million). Scott Farquhar, the co-founder at Atlassian, has joined the funding round through his firm, Skip Capital. Airwallex has managed to secure substantial investments so… Read More

Australian Fintech WeMoney Secures $2 Million in Seed Funding to Launch Financial Wellness Platform

Dan Jovevski, a Fintech professional and former banker at National Australia Bank (NAB), has reportedly helped his company, WeMoney, with securing $2 million in capital in order to provide a service that helps young consumers with making better financial decisions. As reported by the Financial… Read More

Working Capital Firm Cape to Offer Corporate Credit Cards in 2021 that Will Leverage Open Banking Tech

Cape, an Australian working capital firm, is planning to offer a corporate credit card that will leverage Open Banking technology. The company says the card will be available in 2021. Established by experienced Fintech professionals who previously worked at Funding Circle, Funding Options and 11:FS,… Read More

Fintech Australia and Big Four Auditing Firm EY to Extend their Involvement in Supporting Country’s Financial Technology Initiatives

Fintech Australia, a member-driven organization that’s focused on supporting the financial technology ecosystem in the country, has reportedly teamed up with Big Four auditing firm Ernst & Young Australia (EY). Through the partnership, both organizations will aim to support EY’s further involvement in local Fintech… Read More

National Australia Bank Unveils No-Interest “StraightUp” Credit Card

National Australia Bank (NAB) announced on Wednesday the launch of its new no-interest “NAB StraightUp” credit card. According to NAB, the card made its debut in response to Australians wanting more control over their finances. “For a flat monthly charge, customers can get access to… Read More

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