Lee Hatton, Afterpay
Fintech

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 »

Fintech

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 »

Fintech

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
Fintech

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 »

Fintech

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
Fintech

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 »

Fintech

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 »

Tyro
Fintech

Payments platform Tyro buys medical fintech startup Medipass

- May 11, 2021 2 MIN READ

ASX-listed payments platform Tryo (ASX: TYR) is spending $22.5 million to acquire NAB-backed digital health payment startup Medipass Solutions The deal gives an exit for the four-year-old Melbourne-based startup’s key investor, NAB Ventures. Founder Peter Williams and CEO Jonathan Davey will also sell their stakes, in the 100% acquisition by Tyro, but will remain with… Read more »

Fintech

EML Payments releases Open Banking white-label digital wallet

- May 3, 2021 2 MIN READ

Brisbane fintech EML Payments (ASX: EML) has released a white-label digital wallet giving lenders and other fintechs great access to Open Banking as part of the Consumer Data Right. The digital wallet, Nuapay, combines Open Banking with personal finance management and payments in a customisable solution digital solution, in a partnership with fellow fintech Frollo.… Read more »