Pete Steel

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

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

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 »

Lee Hatton, Afterpay

Afterpay gets into banking with Westpac, launching a savings app linked to your BNPL account

- July 20, 2021 2 MIN READ

Buy-now-pay-later market leader Afterpay (ASX: APT) is getting into ibanking, launching an app-based no fee deposit account paying 1% interest. The ASX-listed fintech has been granted an Australian Financial Services Licence (AFSL) by ASIC so it can provide general financial product advice and distribute basic deposit products and debit cards. Called Money by Afterpay, the… Read more »


Alex, a new challenger fintech, just got a banking licence

- July 8, 2021 2 MIN READ

Australia has a new bank, with fintech Alex granted a restricted authorised deposit-taking institution (Restricted ADI) licence from the Australian Prudential Regulation Authority (APRA). The digital bank has already been busy lending, writing more than $8 million in personal loans since it was founded in 2018. The neobank has already raised more than $35 million… Read more »


The Finnies have been postponed, again, to September

- July 7, 2021 2 MIN READ

Fintech Australia has announced it will postpone the annual Finnies awards until September to give Sydney-based fintechs the chance to be part of the celebrations. It’s the second time rolling COVID-19 lockdowns have forced the date to shift. Originally scheduled for June 9, The Finnies awards then moved to July 21, after Victoria went into… Read more »

team meeting, business

How blockchain is changing the face of digital banking for small business by ending paper guarantees

- June 9, 2021 3 MIN READ

Three months ago, Lygon launched the world’s first digital bank guarantee using blockchain technology, marking the beginning of the end for the paper-based guarantee which has been the dominant form of contractual surety in the western world for around 200 years.  The launch of Lygon was the first time a bank guarantee had been fully… Read more »


Helping make women more financially secure is a massive challenge: here’s how the fintech sector is tackling it

- June 4, 2021 5 MIN READ

It’s no secret that when it comes to superannuation, Australian women continue to suffer undue and persistent disadvantage. A series of structural inadequacies and varied dynamics over the course of a woman’s life can, and in many cases do, lead to superannuation poverty. The concept of compulsory superannuation was designed with a full-time worker in… Read more »

Woolworths, Brad Banducci, Paul Monnington

Woolworths is turning its payments platform, Wpay, into a standalone fintech every merchant can use

- June 2, 2021 2 MIN READ

Supermarket giant Woolworths is creating its own fintech startup by spinning out its payments business, Wpay, as a stand-alone venture offering end-to-end payment solutions to merchants outside the group. Woolworths is the nation’s fifth largest processor of card payments, worth more than $50 billion annually across more than 1.3 billion transactions. The move pushes Wpay… Read more »


The rise of FinTok and ‘finfluencers’: 3 ways to measure the value of their advice

- May 26, 2021 4 MIN READ

Queenie Tan is full of financial advice. Whether it is cheap date ideas, buying furniture, saving your first $100,000, doing your tax return or investing in Dogecoin, there is seemingly no topic the 24-year-old Sydney woman can’t confidently tackle. Her posts and videos have gained her 15,000 followers on Instagram and 42,000 followers on TikTok.… Read more »