Tagged: australia

September 15, 2019 @ 4:27 pm By JD Alois  |  

Last week on September 11, the Australian Senate decided to establish a “Select Committee on Financial Technology and Regulatory Technology” or a committee to research and follow Fintech and Regtech. According to the Australian Parliament, the committee will inquire and report on the following matters:… Read More

September 9, 2019 @ 2:33 pm By Samantha Hurst  |  

Xinja Bank, an Australia-based neobank, announced on Monday it has received its full banking license from the Australian Prudential Regulation Authority (APRA) and has launched its bank accounts.  Founded in 2017, Xinja Bank describes itself as an independent 100% digital neobank for Australians that is… Read More

September 9, 2019 @ 11:42 am By JD Alois  |  

Australia is a smaller market by population but it is also a country that has embraced Fintech innovation. The emerging Fintech sector is assisted by a supportive government that has recognized its important role in fostering change that is beneficial to both consumers and business…. Read More

September 8, 2019 @ 9:53 pm By JD Alois  |  

The Lord Mayor of London is visiting Australia with a business delegation seeking to boost links to financial services including the Fintech sector. According to a government release, Lord Mayor Peter Estlin will visit Perth, Melbourne, Canberra, and Sydney. Alongside meetings with government officials, the… Read More

September 4, 2019 @ 11:07 am By JD Alois  |  

Paul Niederer, the former CEO of Australian Small Scale Offerings Board (ASSOB) – one of the first securities crowdfunding platforms in the world, has joined KoreConX to lead the expansion of the platform in Australia. Niederer is well known in Fintech circles for his experience… Read More

September 3, 2019 @ 8:39 pm By JD Alois  |  

InstaReM is out with a note regarding a report published by the Australian Competition & Consumer Commission (ACCC) on cross border payments/money transfers. Ther ACCC report notes that while most consumers continue to use the big four banks in Australia to move their money, Instarem… Read More

August 31, 2019 @ 12:08 pm By Cali Haan  |  

An Australian living in Boulder, Colorado has been sentenced to one year and a day in prison and 12 months probation for laundering money using Bitcoins. Emilio Testa, age 32, was arrested after selling bitcoins to undercover agents. “According to the stipulated facts contained in… Read More

August 26, 2019 @ 3:55 pm By Samantha Hurst  |  

The Australian Securities Exchange (ASX) announced on Monday it has signed a three-party memorandum of understanding (MOU) with Digital Asset (DA) and VMware to work together on distributed ledger technology (DLT) initiatives in Australia and New Zealand. ASX reported that under the new partnership it… Read More

August 25, 2019 @ 10:08 pm By Samantha Hurst  |  

Australasia’s peer-to-peer lending marketplace Harmoney recently announced it has appointed David Stevens as its new CEO. Harmoney reported that Stevens steps into the CEO role in early 2020. The lender’s founder and current CEO Neil Roberts will step away to focus on strategy and product… Read More

August 21, 2019 @ 3:50 pm By Samantha Hurst  |  

Commonwealth Bank of Australia announced on Wednesday the launch of its newly developed blockchain-based digital marketplace prototype which will allow users to trade government biodiversity credits. The description of the prototype reveals: “A new blockchain prototype has the potential to boost sustainable development while enabling… Read More

August 20, 2019 @ 4:15 pm By Samantha Hurst  |  

Australian banking group Westpac announced on Tuesday it has teamed up with Business Spend Management (BSM) company Coupe to help businesses more efficiently manage their spending within a comprehensive cloud platform. Westpac reported that through the partnership both it and Coupe will enable customers to… Read More

August 15, 2019 @ 9:59 pm By Samantha Hurst  |  

Accenture (NYSE: ACN) announced on Thursday it has entered into an agreement to acquire Analytics8, a privately held Australian big data and analytics consultancy that specializes in data management, reporting, and visualization, data science and analytics services. According to Accenture, Analytics8 provides data and analytics… Read More

August 15, 2019 @ 10:46 am By Samantha Hurst  |  

Fintech Unicorn and stealth bank Transferwise announced on Wednesday it is launching its debit Mastercard services in Australia and New Zealand.  Transferwise reported that its Platinum debit Mastercard has helped more than 250,000 in the UK, the U.S., and Europe avoid hidden bank fees when… Read More

August 13, 2019 @ 1:13 am By Cali Haan  |  

“Australia happens to be the only developed country where retirement money, superannuation money, can very easily be invested into cryptocurrencies,” Zebpay crypto exchange CEO Ajeet Khurana told a Financial Review reporter recently. Zebpay, a cryptocurrency exchange, announced last year that it was shutting down in response to… Read More

August 10, 2019 @ 2:42 pm By Cali Haan  |  

Two women, aged 28 and 21, and three men, aged 56, 44 and 33 years, have been charged with fraud and money laundering by Queensland, Australia’s Financial and Cyber Crime Group (State Crime Command), for allegedly pervading a fraudulent cryptocurrency investment scheme from the Gold Coast… Read More

August 8, 2019 @ 12:17 am By JD Alois  |  

Online lender Prospa Group Limited (ASX: PGL) has established its first warehouse facility specifically to fund New Zealand small business loans. According to a note from Prospa, the 3-year facility has an initial capacity of NZ $45 million. Prospa currently provides access to capital in… Read More

August 6, 2019 @ 9:38 am By JD Alois  |  

Fox Corporation (Nasdaq: FOXA, FOX) has acquired 67% of Fintech Credible Labs (ASX: CRD), according to a statement by Fox. The acquisition represents a 31% premium to the prior day share price. Fox is purchasing the shares for USD $265 million and has committed  USD… Read More

August 5, 2019 @ 10:11 am By Samantha Hurst  |  

Judo Bank (formerly Judo Capital), an Australian SME challenger bank, announced last week it has finalized its second-round equity raising at $400 million, which is double the initial target of $200 million. This latest equity raise combines follow-on investment from Judo Bank’s existing shareholders, including… Read More

August 1, 2019 @ 1:28 am By JD Alois  |  

In 2018, investment crowdfunding rules were improved after years of debate and discussion between industry leaders and politicians. Frequently referred to as  “crowd-sourced funding” in Australia, in brief, the rules now allow for an issuer to raise up to $5 million in an online offering… Read More

July 19, 2019 @ 1:56 pm By Cali Haan  |  

An Australian couple in the 70’s have lost their entire retirement savings -$900 000- in a cryptocurrency scam, 7News reports. “That was the whole of our superannuation – That’s now gone,” Mike Taylor told the outlet. Mike and Karen Taylor were traveling Australia in a… Read More