Tagged: australia

December 17, 2020 @ 3:21 pm By Samantha Hurst  |  

Openpay Group Ltd (ASX: OPY), an Australia-based Buy now, pay later (BNPL) provider announced on Wednesday it has commenced the launch of its operations in the US market.  Openpay describes itself as a fast-growing, and highly differentiated player in global BNPL payment solutions. The provider… Read More

December 16, 2020 @ 7:50 am By Omar Faridi  |  

Australian neobank Xinja had been working on finalizing a $433 million investment deal from Dubai’s World Investment Group. However, the digital challenger will now be closing customer accounts and returning its banking license. Xinja’s management noted that they will be refunding customer savings. The Fintech… Read More

December 15, 2020 @ 11:59 pm By Omar Faridi  |  

Paul Bassat, co-founder and Partner at Square Peg Capital Pty., an established Australian VC firm, recently talked about the company’s local and international investments amid the COVID-19 pandemic. Bassat revealed that major Australian pension funds believe that the country’s first recession in around 30 years… Read More

December 11, 2020 @ 7:19 pm By Omar Faridi  |  

Global money transfer service Azimo has teamed up with payments focused Fintech firm dLocal in order to allow migrant workers based in Europe and Australia to send funds to almost any bank in Colombia, which reportedly includes Banco de Bogota, Banco de Occidente, and Davivienda…. Read More

December 2, 2020 @ 10:47 pm By JD Alois  |  

Australia reported better than anticipated GDP numbers this week with growth coming in at 3.3% in the September quarter, topping expectations of around 2.5%. The good news helped to provide some hope for the COVID battered economy. Speaking in Canberra, Philip Lowe, Governor of the… Read More

December 1, 2020 @ 7:37 am By Omar Faridi  |  

Fintech Unicorn TransferWise has reportedly managed to acquire a restricted banking license in Australia. The leading money transfer service provider has been approved to gain direct access to Australia’s real-time payment system. The permit has been issued by Australia’s Prudential Regulatory Authority. Under the license,… Read More

November 30, 2020 @ 9:36 pm By JD Alois  |  

Payments Fintech Limepay has raised $21 million in what is said to be a pre-IPO funding round. Investors included current backers as well as new high net worth and institutional investors. Ord Minnett acted as lead manager, supported by Prime Financial as corporate and financial… Read More

November 30, 2020 @ 3:30 pm By Samantha Hurst  |  

Australia’s marketplace trade credit platform Marketlend recently announced it has expanded its Asian division by appointing Andrew Ross to lead origination and insurance endeavors for Marketlend throughout Asia. Ross will notably assist Marketlend to expand its presence in trade commodities, insured backed discounted trade credit… Read More

November 28, 2020 @ 1:54 pm By Omar Faridi  |  

OwnHome, the recent winner of Xccelerate2020, the startup competition that’s managed by the Commonwealth Bank of Australia’s Fintech incubation division X15ventures, has reportedly received $150,000 in capital after grabbing the number one spot in the contest. Over 80 different startups had applied to take part… Read More

November 24, 2020 @ 8:12 am By Omar Faridi  |  

Ian Liddell-Grainger, who’s Chair of the All-Party Parliamentary Group on Open Banking and Payments in the UK, notes that Britain’s financial technology industry has been expanding rapidly with emerging Fintechs such as Monzo, Starling, Revolut and TransferWise. Ian points out that these companies are turning… Read More

November 23, 2020 @ 12:00 am By Samantha Hurst  |  

Australian financial advice software as a service (SaaS) platform Lumiant announced on Monday it is now seeking $1.5 million through its equity crowdfunding campaign on Equitise. Founded earlier this year, Lumiant describes itself as a soon-to-be live, interactive client experience SaaS solution that drives “better”… Read More

November 17, 2020 @ 11:19 am By JD Alois  |  

Bitconnect, a legendary crypto scam that was exemplified by a viral video, has emerged once again as the Australian Securities and Investment Commission (ASIC) has announced charges against Bitconnect promoter John Bigatton following a long investigation. From August 2017 to January 2018, Bigatton was said… Read More

November 17, 2020 @ 9:00 am By JD Alois  |  

Australia based neobank Douugh Ltd (ASX:DOU) has launched its app in the US following a partnership with Mastercard. Douugh reports that it has been in beta with U.S. consumers since early-2019 and is now officially launching to the wider market. Douugh Founder and CEO, Andy… Read More

November 16, 2020 @ 9:06 am By Omar Faridi  |  

The Australian Securities Exchange (ASX) had to shut down for business on Monday (November 16, 2020) due to a software issue in a newly installed trading system – which was provided by Nasdaq. ASX’s management noted that the software glitch had created inaccurate market data… Read More

November 9, 2020 @ 10:17 pm By Omar Faridi  |  

Australia-based Fintech firm Finspo, which offers an aggregated view of the cost of banking services used by consumers, has reportedly decided to branch out into the mortgage broking business. Finspo’s management has confirmed that they’ll introduce a mortgage broking capability as part of the company’s… Read More

November 4, 2020 @ 9:16 pm By Omar Faridi  |  

Binance Australia recently added Australian Dollar (AUD) deposits through PayID/Osko to the Binance app. Customers in Australia are now able to make deposits in AUD without having to pay any fees. These transactions can be processed through PayID (directly from customers’ Australian bank accounts).  As… Read More

November 3, 2020 @ 10:35 pm By Omar Faridi  |  

Customers of Australia’s four major banks (which includes the Commonwealth Bank of Australia, Westpac Banking Corporation, Australia and New Zealand Banking Group, and National Australia Bank) are now able to share their home loan and mortgage offset data with accredited or approved recipients. This option… Read More

November 3, 2020 @ 8:28 pm By Omar Faridi  |  

Australian neo-bank Xinja recently noted that it’s working cooperatively with Dubai’s World Investment Group (WIG) in order to close the $433 million investment deal that was announced in March 2020. At present, the bank is working with auditors so that they can address concerns regarding… Read More

November 2, 2020 @ 11:16 pm By Omar Faridi  |  

Mortgage Choice, an established brokerage firm, will be offering its brokers access to Australian digital bank 86 400. The broker has reportedly added the challenger bank to its residential lending panel. Emma Dupont-Brown, GM at Mortgage Choice, stated that adding the digital bank would mean… Read More

October 30, 2020 @ 8:31 am By Samantha Hurst  |  

  Afterpay, a digital platform that offers interest-free installment plans for online purchases, is continuing its expansion efforts by launching a savings account and cash flow tools in Australia. The latest expansion comes just a couple of months after Afterpay announced its expansion into Canada…. Read More