Tagged: australia

March 3, 2020 @ 8:54 am By Omar Faridi  |  

Smart savers have increasingly been turning to all-digital banking platforms or neobanks. They’ve been depositing their savings into virtual accounts in order to benefit from highly competitive interest rates. According to the latest data from the Australian Prudential Regulation Authority (APRA), Judo Bank had been… Read More

February 27, 2020 @ 10:59 pm By JD Alois  |  

Leading SME online lender Prospa Group Limited (ASX:PGL) has published results for the six months ended 31 December 2019 (HY20). According to the Fintech, total loan originations for the 6 month period were $306.8 million, bringing originations for the calendar year (CY19) to $583.0 million,… Read More

February 26, 2020 @ 8:50 am By Omar Faridi  |  

Australia-based digital bank Xinja has reached the $200 million mark in total customer deposits. The digital bank was launched less than a month back and it has already managed to accumulate the large sum of money via its popular Stash savings account. After only a… Read More

February 24, 2020 @ 10:03 pm By Samantha Hurst  |  

Australian neobanking group Volt announced on Monday its new partnership global retailer, the Cotton On Group, introduce team members and customers to the Volt experience. Volt claims this is the first partnership of this type between a neobank and major retailer in Australia. Volt also… Read More

February 24, 2020 @ 5:17 pm By Omar Faridi  |  

Australia-based UBank, a digital lending company, has published an open-source software development toolkit on Github repositories in order to assist iOS developers in enhancing the accessibility of applications for users with disabilities. UBank’s new software tool checks for and issues a warning for different types… Read More

February 21, 2020 @ 11:12 am By Omar Faridi  |  

Digital Banking Banking challengers have been introducing innovative financial products in order to compete with traditional banks. Challenger or neobanks attracted $5.2 billion in funding last year, which is more than triple of what they received back in 2018 ($1.6 billion). Italy-based Nexi, a digital… Read More

February 20, 2020 @ 10:13 pm By Omar Faridi  |  

Australia-based digital bank Hay is the country’s latest fully app-based account provider to join the nation’s evolving digital banking ecosystem. As noted on the company’s website: “We are an Australian Fintech company that is building world-leading digital infrastructure from the ground up to provide Australians… Read More

February 13, 2020 @ 5:57 am By Omar Faridi  |  

The Australian government passed the Treasury Laws Amendment (2018 Measures No. 2) Bill 2019 on February 10, 2020. The bill has been introduced in order to extend the overall scope and time period Fintech firms may spend on the country’s current framework. Updating the existing… Read More

February 12, 2020 @ 11:43 pm By JD Alois  |  

Investment crowdfunding platform PledgeMe has announced a new CEO. The platform revealed its intent to select a new Chief Executive in a blog post last September. The platform was founded by Anna Guenther in 2012 and remains the only female-led crowdfunding operating in New Zealand… Read More

February 12, 2020 @ 8:40 pm By Omar Faridi  |  

Small and medium-sized enterprise (SME) platform Xero has reportedly made a new technology integration with Square’s software in Australia, in order to allow users to make instant payments of small-business invoices. The new feature will allow small and medium-sized businesses (SMBs) using Square’s platform to… Read More

February 12, 2020 @ 10:52 am By Samantha Hurst  |  

Stake, an Australian-based commission-free trading app for stocks and ETFs, has officially launched its services in the UK. This news comes just weeks after Stake announced its UK beta operations. As previously reported, Stake claims it democratizes global share markets to bring the “world’s largest… Read More

February 10, 2020 @ 1:48 pm By Samantha Hurst  |  

Australia-based marketplace lender SocietyOne announced on Monday it has established a warehouse facility arranged by NAB, alongside securing $15 million through its recent equity raise, to support growth. According to SocietyOne, the warehouse facility is also scalable to support the lender’s continued growth, as borrowers… Read More

February 10, 2020 @ 1:51 am By Omar Faridi  |  

London-headquartered Paysend, an international funds transfer company, has confirmed the launch of its money transfer services in Australia. Paysend’s services can now be used in the $1.3 trillion economy to send funds to companies located abroad. The firm said that China, India, and Vietnam are… Read More

February 9, 2020 @ 10:38 pm By Samantha Hurst  |  

Australian cryptocurrency exchange platform CoinJar recently announced it has launched its mobile app for Android smartphones. Founded in 2013, Coinjar claims to be Australia’s longest-running digital currency exchange. The company’s services allow users to buy, sell, store, and spend digital assets. “As an award-winning, venture… Read More

February 6, 2020 @ 10:41 pm By Samantha Hurst  |  

Airwallex, an Australia-based fintech company, announced on Thursday it has teamed up with Visa to launch the Airwallex Borderless Card for business. According to Airwallex, the new card will enable Airwallex account holders to pay suppliers in seconds and “empower” their teams to make corporate… Read More

February 5, 2020 @ 1:59 pm By Samantha Hurst  |  

Xinja Bank, an Australia-based neobank, has reportedly hit $100 million in deposits and has attracted 15,000 customers to its platform in just three weeks. According to Xinja, customers are taking advantage of its new ‘Stash’ digital bank account and 2.25% savings rate. According to iTWire,… Read More

February 3, 2020 @ 6:52 am By Omar Faridi  |  

The Commonwealth Bank in Australia is planning to compete with its rivals by establishing 25 new Fintech-focused businesses within the next five years. The institution says it is preparing to launch the products and services offered by the Fintech firms to its millions of clients… Read More

January 30, 2020 @ 8:29 am By Samantha Hurst  |  

Payment processing platform Klarna announced on Thursday it has expanded its services to Australia. Klarna mobile app, which will be available on iOS and Android devices, will enable users to shop and pay with Klarna at any online retailer. Klarna also reported that it has… Read More

January 27, 2020 @ 5:54 am By Omar Faridi  |  

Australia-based digital banks Xinja, Judo Bank and 86 400 have been attracting millions of dollars worth of savings from the nation’s banking clients after the introduction of their high interest rate accounts. Traditional industry players like ANZ, Westpac, NAB and Commonwealth Bank have reportedly lost… Read More

January 23, 2020 @ 7:58 am By Samantha Hurst  |  

Australia-based digital brokerage platform Stake announced this week it has officially launched its UK beta operations.  Founded in 2017, Stake claims it democratizes global share markets to bring the “world’s largest and most dynamic” market to the rest of the world. “We believe brokerage is… Read More