Fintech

Australia has a new neobank for small business lending

- September 7, 2021 2 MIN READ

Emerging Sydney fintech Avenue Bank has been granted a restricted banking licence by the financial regulator APRA. The digital bank has been gearing up for this moment after raising $37 million in a series B round back in February. Veteran CBA exec George Confos was appointed Avenue CEO last year. The fintech previously raised $11.4… Read more »

Andrew Bragg
Fintech

Startup Daily TV: Senator Andrew Bragg on the Senate inquiry into cryptocurrencies and digital assets

- September 7, 2021 2 MIN READ

Public hearings for the Senate Select Committee looking into the potential of cryptocurrencies and digital assets continue this Wednesday, September 8. Fintech Australia, Judo Bank, Afterpay, the ASX, ACCC and ATO among those appearing before the committee, chaired by Senator Andrew Bragg. Ahead of the hearing, Senator Bragg joined Startup Daily show to outline his… Read more »

Fintech

The RBA is working on a central bank digital currency with Malaysia, Singapore and South Africa

- September 3, 2021 2 MIN READ

Project Dunbar will develop prototypes for shared platforms that will enable international settlements with digital currencies issued by multiple central banks. A blockchain-based system will hopefully cut transaction costs and times. The results will feed into plans for global and regional platforms and the G20 roadmap on better cross-border payments. The Reserve Bank of Australia… Read more »

Simone Joyce
Fintech

Fintech Paypa Plane is bringing one of the biggest innovations to payments to life in a deal with Cuscal

- September 1, 2021 2 MIN READ

Queensland fintech Paypa Plane has signed a deal to bring one of the key innovations of the New Payments Platform Australia (NPPA) – pre-authorised real-time payments – to banking next year Paypa Plane’s agreement is with payments platform Cuscal to launch PayTo in mid-2022. It’s one of the first examples of a bank and a… Read more »

money plant grow
Fintech

How open banking is helping fintechs thrive

- September 1, 2021 3 MIN READ

The fintech ecosystem is booming and is showing no signs of slowing down. Research from KPMG showed that, despite being in the middle of a pandemic, there has been an increase in the number of fintechs active in Australia, with 733 FinTechs recorded. Investment in Australia’s FinTech sector has also soared, with US$1.4 billion invested… Read more »

Fintech

Fintechs scored a staggering $133 billion in investment globally so far this year

- August 10, 2021 3 MIN READ

Fintech is hot with venture capitalists globally, with investment in the sector hitting US$98 billion (A$133bn) in the first half of 2021 according to global advisory firm KPMG. The company’s bi-annual Pulse of Fintech report on investment trends found a US$10.9bn jump in investment on H1 FY20, including M&A, private equity and VC. Australian fintech… Read more »

Pete Steel
Fintech

CBA’s former digital boss has launched a fintech he thinks could save Australians $3.6 billion a year on their home loans

- August 4, 2021 2 MIN READ

Not hustling your bank for a better home loan deal is costing Australians more than $3.6 billion annually, despite low interest rates, according to a former Commonwealth Bank executive who’s launched his own fintech startup to solve the problem. Pete Steel was the chief digital officer at Australia’s biggest bank and this week launched mortgage… Read more »

techlend, Jacobs, Aaron Bassin
Fintech

Bridging loan fintech takes on $50 million venture debt deal

- August 2, 2021 2 MIN READ

A non-bank lender looking to offer same-day bridging loans for property buyers has raised $50 million in venture debt. Sydney-based TechLend markets itself as “Afterpay for home loans” offering “interest-free”, paperless, bridging finance with same-day pre-approval. San Francisco lender Partners for Growth, which has a Sydney office, has delivered the $50 million in venture debt… Read more »

Rebel Wilson, Afterpay
Fintech

Financial counsellors want Afterpay’s Rebel Wilson TV ad pulled for using children to sell the BNPL

- July 29, 2021 2 MIN READ

Peak body Financial Counselling Australia (FCA) has written to advertising regulator Ad Standards asking for Afterpay’s TV ad featuring Rebel Wilson to be banned over its “gratuitous and inappropriate” use of a children. The ad features Wilson sitting in a play room with a young child saying “if credit cards and cash had a baby… Read more »