Fintech—A Brave New World for the Financial Sector?

From iMFdirect. From smartphones to cloud computing, technology is rapidly changing virtually every facet of society, including communications, business and government. The financial world is no exception. As a result, the financial world stands at a critical juncture. Yes, the widespread adoption of new technologies, such as blockchain-based systems, offers many potential benefits. But it … Continue reading “Fintech—A Brave New World for the Financial Sector?”

The BBC Does Fintech

Interesting programme from the BBC looking at UK developments in Fintech. The discussion centered on how mobile devices are fundamentally changing banking and why incumbents are struggling to respond. Listen to the programme, or download it here. The UK is a world leader in financial services technology, otherwise known as fintech. Presenter Evan Davis asks … Continue reading “The BBC Does Fintech”

Bank of England FinTech Accelerator latest proofs of concept

As announced in the Governor’s June Mansion House speech the Bank of England has set up a FinTech Accelerator, working in partnership with new technology firms to help harness FinTech innovations for central banking. In return, it offers firms the chance to demonstrate their solutions for real issues facing us as policymakers, together with the … Continue reading “Bank of England FinTech Accelerator latest proofs of concept”

NAB Ventures backs San Francisco payments fintech

National Australia Bank’s (NAB) venture capital fund, NAB Ventures, has led an investment round in San Francisco-based foreign exchange payments company Veem. Veem (formerly known as Align Commerce) provides a platform that leverages blockchain technology for cross-border business to business payments, enabling organisations to send and receive payments in local currency. NAB Ventures General Partner … Continue reading “NAB Ventures backs San Francisco payments fintech”

Fintech Disruption Continues Apace

The latest edition of the Financial Services Disruption index is released today. It measured 40.16, up 5.52% from last quarter. The Disruption Index tracks change in the small business lending sector, and more generally, across financial services. The Financial Services Disruption Index, which has been jointly developed by Moula, the lender to the small business … Continue reading “Fintech Disruption Continues Apace”

Aussie fintech investment defies global dip

From Fintech Business. Investment in Australian fintech companies remained strong in 2016, despite an almost 50 per cent decline in global investment figures, according to KPMG. KPMG’s Pulse of Fintech report, released today, found an overall investment of US$656 million into Australian fintech in 2016 across 25 deals, up from $185 million across 23 deals … Continue reading “Aussie fintech investment defies global dip”

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”