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1216

FrankieFinancial signs Australian neo banks to RegTech platform

via Finextra

RegTech startup FrankieFinancial has signed Australian neo banks Xinja and Novatti Group to its financial systems aggregator platform, which provides a single point of access to ID verification, KYC, AML, fraud and credit tools from 114 vendors and data sources. (more…)

Banks, Fintech news, InspirAsia, Mobile-first banks, RegTech, Security

May 15, 2019

1284

SME Challenger Bank Judo Bank Receives Full Banking License From Australian Prudential Regulation Authority

via Crowdfund Insider

Judo Bank (formerly Judo Capital), an SME challenger bank, announced on Wednesday it was granted a full banking license by the  Australian Prudential Regulation Authority (APRA). According to the bank’s Chairman, Peter Hodgson, the full license means Judo will be able to significantly extend the scope and depth of services it provides to those businesses across the country.

Founded in 2016, Judo stated it is challenging the “one size fits all” approach of its much larger competitors because it believes every business is unique and should be treated that way.

(more…)

Banks, InspirAsia, Mobile-first banks, SME

April 24, 2019

292

Aussie challenger 86 400 scores home loan distribution deal

via Finextra

Australian challenger bank 86 400 has come a step closer to launching a home loan product after securing a national distribution deal with mortgage broker aggregator Vow Financial

The deal means 86 400 can deliver home loans via Vow Financial’s network of over 1200 brokers once it secures its full banking license from the Australian Prudential Regulation Authority.

(more…)

Banks, InspirAsia

April 15, 2019

411

Aussie fintech Volt Bank starts by asking consumers what they want

via ZDNet

In January, the Australian Prudential Regulation Authority (APRA) gave fintech startup Volt Bank a licence to operate without restrictions as an authorised deposit-taking institution (ADI). The green light was given to the new player following APRA approval in May 2018 to act in the Australian finance market as a Restricted ADI.

The APRA approval gave Volt the title as the first digital startup bank in Australia to receive a banking licence since the early 2000s. Funds up to AU$250,000 deposited into Volt are guaranteed by the Australian government as part of this arrangement.   (more…)

Banks, InspirAsia, Mobile-first banks

April 11, 2019

1178

Australian neobanks target scale of UK rivals without growing pains

via AltFi

A flurry of neo banks in Australia are threatening to make inroads into the dominance of the country’s established lenders.

Sydney-based digital bank Volt promises to offer a faster more personalised service than the country’s big four incumbents – National Australia Bank, Commonwealth Bank, Australia and New Zealand Banking Group and Westpac. (more…)

Banks, Fintech news

April 1, 2019

1423

Forget Melbourne v Sydney, Australian fintech must take a global view

By Simon Lee for Financial Review

In 1901 there was such a massive spat between Sydneysiders and Melburnians over which city should be capital of the newly federated Australia that a whole new city (and territory) was formed.

(more…)

Fintech news, Global trends, Government activities

April 18, 2016

Could Australia be a serious fintech innovator?

By James Eyers for the Financial Review,

Australia’s transition to an innovative, technologically savvy economy and how corporate leaders are coping with the forces of disruption will be a major issue debated at The Australian Financial Review Business Summit this week.

(more…)

Cashless, Fintech news, Global trends, news, SME

March 14, 2016

1375

This is how Australia is changing to become startup friendly

In interviews with the Australian Ambassador to Israel and StartupAUS’ Acting CEO, Geektime learned how Australia is making big changes to grow their ecosystem (more…)

Banks, Deals, Fintech news, Global trends, InspirAsia, Insurance, news

March 4, 2016

1545

Fintech’s answer to Australian payday problem

TECHINASIA: These are just a few quotes from the media about an industry that has received its fair share of global criticism over the years – the payday lending industry. In Australian media coverage, you’d be hard-pressed to find a positive word spoken about what is described as “the fastest-growing component of Australia’s finance sector” to date. Australia’s leading business publication, the Australian Financial Review, recently reported on Cash Converter’s $23 million double class action settlement, for overcharging customers on interest rates.

(more…)

Fintech news, InspirAsia, news, p2p/online lending

July 12, 2015

2149

DBS opens DBS Accelerator in Hong Kong

DEALSTREETASIA: Southeast Asian super-regional financial services group DBS, which is based in Singapore, has launched a DBS fintech accelerator in Hong Kong, in a physical site called “The Vault”. This is to function as a FinTech startup hub located in the heart of Wan Chai, Hong Kong. (more…)

Hong Kong, InspirAsia, Singapore

June 29, 2015

2052

Fintech: Rebooting Financial Services

FINEXTRA: Having occupied relatively safe niches, such as payments and P2P-lending, fintech companies are now moving toward the core banking business. For them it is a multi-billion dollar opportunity to reinvent the financial services, but they won’t cope without the support of the current banking industry, according to the report by Santander InnoVentures, Oliver Wyman and Anthemis Group. Read the report  (more…)

Analytics, Global trends

June 18, 2015

1779

Westpac and ANZ Experiment with Ripple

Coindesk: Two of Australia’s ‘big four’ banks, Westpac Banking Corporation and the Australia and New Zealand Banking Group, are experimenting with peer-to-peer transfers on the Ripple protocol.

The news, revealed by The Australian Financial Review, follows last month’s announcement that the Commonwealth Bank of Australia (CBA) – another ‘big four’ rival – is trialling the tech for transfers between its subsidiaries. At the time, CBA’s chief information officer David Whiteing described distributed protocols as “the way of the future”.

(more…)

Cryptocurrencies, Fintech news, news

June 11, 2015

1705

Robinhood Raises $50 Million and Reveals Plans for Expansion to Australia

ROBINHOOD: Dedicated to providing free access to the financial markets and inspiring a new generation of investors, Robinhood is thrilled to announce a $50 million round of funding led by New Enterprise Associates (NEA). Existing investors Index Ventures, Ribbit Capital and Social Leverage joined the round, along with new investor Vaizra Investments, bringing our total funding to date to $66 million. (more…)

Deals, Fintech news, news

May 7, 2015

1390

Freelancer Gets Into ePayments With $7.5M Deal To Acquire Escrow.com

TECHINASIA: Freelancer, the Australia-based platform that connects freelancing professionals with small businesses around the world, today announced it’s diversifying with the acquisition of US-based epayments service Escrow.com for US$7.5 million. (more…)

Deals, InspirAsia

April 27, 2015

1753

E-Payments Company Tyro Opens Australia’s First FinTech Hub In Sydney

E27.CO:  Australian electronic funds transfer at point of sale (EFTPOS) provider Tyro Payments announced today that it has opened the country’s first first hub for financial technology startups in Sydney. According to Tyro, the Tyro FinTech Hub will offer co-working desks to FinTech startups and high growth companies, as well as spaces to host accelerators, conferences, hackathons, meetups and seminars.

(more…)

Fintech news, Global trends, news

March 31, 2015

1794

Kabbage Expands to Australia in New White-Label Collaboration with Kikka Capital

FINOVATEKabbage has announced plans to move into the Australian market with a white-label offering of its small business lending technology. The launch in Australia represents Kabbage’s first foray into the Asia-Pacific region, having already been in operation in both the U.K. and the U.S. (more…)

Fintech news, news, p2p/online lending

March 26, 2015