Fintech

Humm teams up with fintech Douugh for US BNPL tilt

- December 1, 2020 2 MIN READ

The former Flexigroup, now rebranded as Humm, the name of its BNPL product, is launching a US line of credit, marketed as a BNPL solution in the highly competitive US market in a joint venture with fellow ASX-listed fintech Douugh. The proposed JV will result in “Douugh powered by humm” as a “BNPL” solution involving… Read more »

Fintech

Xinja cuts the cap for paying interest on its Stash account once again to just $50,000

- November 17, 2020 2 MIN READ

Less than a year after “Australia’s best savings account”, the high interest rate on Xinja’s Stash savings account appears to be a millstone around the neobank’s neck, with the fintech slashing the interest-bearing cap by two-thirds to just $50,000 on any deposits. With the launch of Xinja US share trading platform Dabble now delayed indefinitely,… Read more »

Fintech

4 months after Open Banking launched in Australia, a new report reveals the fintech sector is keen but struggling to get involved

- November 4, 2020 4 MIN READ

78% of survey respondents were familiar with Open Banking (CDR). 71% of industry respondents intend to use CDR, 58% of whom stating that they intend to use CDR data within the next 12 months 64% of banks and lenders, and 54.6% of technology providers plan to spend more than $500,000 54.2% of fintechs expect to… Read more »

Airwallex
Fintech

Airwallex scoops the pool at The Finnies fintech awards

- October 28, 2020 2 MIN READ

Airwallex took out four major awards at the 2020 Finnies, including the top prize, Fintech Organisation of the Year and the People’s Choice Award. The company also received the Excellence in Payments award, while the Melbourne-based global unicorn’s co-founder and president, Lucy Liu, was named Emerging Fintech Leader of the Year. Airwallex and Athena Home… Read more »

Fintech

Afterpay shares crashed through the $100 barrier after announcing a savings account deal with Westpac

- October 20, 2020 2 MIN READ

Shares in Melbourne-based buy-now-pay-later fintech Afterpay are up more than 5% in the first hour of trade this morning to top $100 after the company announced it had signed a deal with Westpac to offer savings accounts and cash flow tools to its Australian customers. The partnership will allow Afterpay (ASX:APT) to provide Westpac (ASX:… Read more »

Fintech

Fintech Douugh’s reverse listing hits the ASX today

- October 6, 2020 2 MIN READ

Financial platform Douugh makes its ASX debut in a reverse takeover of suspended telco Ziptel. The former Ziptel will be resinstated for trading as Douugh (ASX:DOU) when the market opens for trading at 10am today. Financial reports lodged with the ASX ahead of the relisting reveal that Douugh lost $1.29 million in FY2020, down from… Read more »

Fintech

Meet the 2020 Finnies Finalists 

- September 28, 2020 3 MIN READ

Many in the fintech sector will remember 2020 as a period of tough decision making, hardship and sacrifice. Countless plans for growth have been adapted or scuttled altogether in the name holding the business together, to weather this once in a lifetime pandemic. But by the end of October, we believe we will have a… Read more »

Fintech

E-billing startup Link4 lands an Australian Treasury contract to speed up invoice payments

- September 21, 2020 2 MIN READ

An Australian Government promise to pay its suppliers faster has led to a collaboration between an e-invoicing startup from South Australia and the federal Treasury. Based in Adelaide, South Australia, invoice delivery service provider Link4 will connect Treasury with the Pan-European Public Procurement Online (PEPPOL) network, allowing the government department to instantly receive invoices from… Read more »

Fintech

Business lender Lumi taps investors for $20 million

- September 21, 2020 < 1 MIN READ

Small business lender Lumi is on the hunt for $20 million from investors to expand its team and markets over the next year. Cornerstone backer the Josh Liberman Investment Group will tip in again as the company looks to develop additional product lines and improve its technology platform. The fintech offers unsecured business loans of… Read more »

Fintech

CBA copies NAB in the fight against BNPLs offering a Mastercard ‘no interest’ credit card

- September 11, 2020 2 MIN READ

The Commonwealth Bank has launched a near-identical “no interest” credit card just a day after NAB announced it was launching its flat fee StraightUp Card on Thursday. Aside from slightly different monthly fee rates, the only other key difference is that while NAB partnered with Visa, CBA’s “CommBank Neo” is a Mastercard product. Like StraightUp,… Read more »