Fintechs Eye The Mortgage Market

From Fintech Business. Speaking at a media roundtable in Sydney this week, SocietyOne co-founder Greg Symons said there is a class of mortgages that could suit “exactly what we do”. “We will look at that in time, probably through a partnership of some kind,” Mr Symons said. “The fact is it’s very cheap debt and … Continue reading “Fintechs Eye The Mortgage Market”

More lessons on fintech to come for Scott Morrison

From The Conversation. This week, Treasurer Scott Morrison will be in Germany, as part of the run up to this year’s G-20 Summit, talking to other finance ministers about “Digitising finance, financial inclusion and financial literacy”. The Treasurer is due to give a keynote speech on “Developments and challenges of fintech with a focus on … Continue reading “More lessons on fintech to come for Scott Morrison”

The Bank of England On Fintech

Mark Carney,  Governor of the Bank of England, spoke on ‘The Promise of Fintech.” Specifically, he looked across the banking value chain, and highlighted how digital transformation may be applied across it, as well as the risks which may emerge is so doing and how regulators need to respond. To its advocates, this wave of … Continue reading “The Bank of England On Fintech”

US fintech eyes Australian mortgage space

From Australian Broker. US financial technology company SoFi has hinted at its plans to launch an Australian branch that offers mortgages and changes the banking world. The firm, which is based in San Francisco, has recently put out a LinkedIn job advertisement for a manager of mortgage operations in Sydney. It is also looking to … Continue reading “US fintech eyes Australian mortgage space”

Fintech, Beyond The Hype

From InvestorDaily. The impact technology is having on the financial services industry is immense and getting caught up in the hype surrounding new technologies is all too easy, writes SuiteBox’s Ian Dunbar. The list of buzzwords that dominate the landscape of tech innovation in financial services grows by the day (and yes, they all have … Continue reading “Fintech, Beyond The Hype”

Trustees Australia announces fintech merger

From InvestorDaily. Fintech marketplace operator Cashwerkz has merged with Trustees Australia to create a platform that aims to disrupt the fixed interest investment sector. According to the companies, the merger helps bring together Trustees Australia’s funds under management with Cashwerkz’s distribution platform to serve retail customers, the financial planning industry, superannuation funds, councils and other … Continue reading “Trustees Australia announces fintech merger”

ASIC releases world-first licensing exemption for fintech businesses

ASIC has today released class waivers to allow eligible financial technology (fintech) businesses to test certain specified services without holding an Australian financial services or credit licence. ASIC Commissioner John Price said, ‘ASIC’s ‘fintech licensing exemption’ is unique. No other major jurisdiction has implemented a class waiver which allows eligible businesses to notify the regulator … Continue reading “ASIC releases world-first licensing exemption for fintech businesses”

Fintech – What Are The Risks?

Fed Governor Lael Brainard spoke on “The Opportunities and Challenges of Fintech” and highlighted the tension between the lightning pace of development of new products and services being brought to market–sometimes by firms that are new or have not historically specialized in consumer finance–and the duty to ensure that important risks around financial services and payments … Continue reading “Fintech – What Are The Risks?”

Banks will displace fintech lenders, predicts PwC

The fintech lending sector will eventually be cannibalised by the activities of the major banks, argues PwC as reported in Fintech Business. Speaking on a panel at the Australian Securitisation Forum in Sydney this week, PwC Asia head of digital financial services, Thomas Achhorner, said incumbents will most likely muscle in on any innovation from … Continue reading “Banks will displace fintech lenders, predicts PwC”

Singapore’s FinTech journey

We get a good summary of Singapore’s approach to FinTech, from a speech by Ravi Menon, Managing Director of the Monetary Authority of Singapore, given at the Singapore FinTech Festival. They want to create a Smart Financial Centre to increase efficiency, manage risks better, to create new opportunities and to improve people’s lives. Innovative finance, he says, … Continue reading “Singapore’s FinTech journey”