BOE Fintech Accelerator Shows Promise

The Bank of England published summaries of the third round of Proofs of Concept (POCs) completed by its FinTech Accelerator. It nicely shows some of the potential innovation applicable to the finance sector. The FinTech Accelerator was set up a year ago to deploy innovative technologies on issues relevant to the Bank’s mission and operations. … Continue reading “BOE Fintech Accelerator Shows Promise”

Fintechs warn Domain and REA of mortgage ‘challenges

From The Adviser. Two mortgage fintechs have warned that the REA Group and Domain, as well as customers and brokers, could face ‘challenges’ as a result of the property companies’ forays into mortgages. Last week, both the REA Group and Domain Group revealed plans to break into mortgage broking, with realestate.com.au acquiring a majority stake … Continue reading “Fintechs warn Domain and REA of mortgage ‘challenges”

Fintech Disruption of Personal Credit Gains Pace

I caught up with Clayton Howes, CEO of MoneyMe to explore in more detail the development of this Fintech which recently announced it had broken the $100m loan barrier (and has steamrolled past $125m since our conversation); all outside the traditional banking network. Founded in 2013, with a pool of private investors, MoneyMe it is … Continue reading “Fintech Disruption of Personal Credit Gains Pace”

Fintech small business lenders support research survey

New research will aim to establish current trends and best practice in the growing fintech lending market to small and medium-size enterprises (SME). Fintech small business lenders will be surveyed as part of a collaborative research project by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) with industry organisation FinTech Australia and independent SME … Continue reading “Fintech small business lenders support research survey”

Japan and Australia cooperate on fintech

The Japan Financial Services Agency (‘JFSA’) and Australian Securities and Investments Commission (‘ASIC’) today announced the completion of a framework for co-operation to promote innovation in financial services in Japan and Australia. This Co-operation Framework recognises the global nature of innovation in financial services. In this environment, this Framework enables the JFSA and ASIC to … Continue reading “Japan and Australia cooperate on fintech”

Fintech: Capturing the Benefits, Avoiding the Risks

The IMF have published a paper on Fintech.  From artificial intelligence to cryptography, rapid advances in digital technology are transforming the financial services landscape, creating opportunities and challenges for consumers, service providers, and regulators alike. This paper reviews developments in this new wave of technological innovations, often called “fintech,” and assesses their impact on an … Continue reading “Fintech: Capturing the Benefits, Avoiding the Risks”

Fintech Disruption of SME Continues

The latest edition of the Disruption Index which tracks change in the small business lending sector, and more generally, across financial services has been released. The latest score is 38.39% The Financial Services Disruption Index has been jointly developed by Moula, the lender to the small business sector; and research and consulting firm Digital Finance … Continue reading “Fintech Disruption of SME Continues”

Hong Kong and Australia seal agreement on fintech cooperation

The Hong Kong Securities and Futures Commission (‘the SFC’) and ASIC today signed a Co-operation Agreement which provides a framework for cooperation to support and understand financial innovation in each economy. This Cooperation Agreement builds on the already close ties between ASIC and the SFC, as well as the Australia-Hong Kong trade and investment relationship … Continue reading “Hong Kong and Australia seal agreement on fintech cooperation”

Fintech Startup MoneyMe Above $100 million loans

Fintech startup, MoneyMe Financial Group, has this week broken through the $100 million loan mark, after record daily compounded growth of 2,747 per cent in its medium amount and personal loans offerings drove its lending volume exponentially in the past few months. MoneyMe is a good example of the innovative new players pressing in on … Continue reading “Fintech Startup MoneyMe Above $100 million loans”

NAB Ventures backs Canadian fintech Company Wave

NAB’s venture capital fund, NAB Ventures, has led a US$24 million (AU$32 million) Series D funding round in Toronto-based cloud fintech company, Wave. Wave delivers cloud-based financial management software including accounting, invoicing, and payroll with seamlessly integrated financial services such as credit card processing and lending. Hear from NAB Ventures’ Melissa Widner and Wave CEO … Continue reading “NAB Ventures backs Canadian fintech Company Wave”