Rehan D'Almedia,
Fintech

The Finnies: FinTech Australia launches new ‘positive impact’ award

- January 31, 2023 2 MIN READ

FinTech Australia has announced the new Positive Impact award, which celebrates social impact in fintech. They are now calling for entries for its seventh annual awards.  The Positive Impact award will consider the social, environmental, and economic impact of fintech companies. They introduced the new award to honour work on this within the sector.  FinTech… Read more »

Simon Beitz
Fintech

Australia gets a new bank, Alex, for Christmas

- December 21, 2022 2 MIN READ

Digital challenger bank Alex has been granted its full banking license by the Australian Prudential Regulation Authority (APRA). The approval authorised deposit-taking institution (ADI) comes 18 months after the fintech, founded in 2018 by CEO Simon Beitz, a former Suncorp exec, and Chief Financial Officer Craig Fenwick, was granted its Restricted ADI licence amid a… Read more »

Afterpay
Fintech

More than a quarter of young people in financial trouble this year used ‘buy now, pay later’ services

- December 21, 2022 3 MIN READ

Buy Now, Pay Later (BNPL) services have dramatically changed the landscape of personal lending, largely by being easy to access and not charging interest – thus avoiding national credit laws. In the 2021-22 financial year, according to data from the Reserve Bank of Australia, the number of active BNPL accounts in Australia rose from 5… Read more »

Fintech

CBA teams up with TAFE and Queensland unis to launch Brisbane tech hub

- December 6, 2022 2 MIN READ

The Commonwealth Bank has launched its third technology hub around Australia this year, teaming up with Queensland educators to set up shop in Brisbane’s CBD. CBA has partnered with The University of Queensland (UQ), Queensland University of Technology (QUT) and TAFE Queensland, to offer students and graduates the chance to join CBA’s Tech Associates and… Read more »

Fintech

Sustainable investing platform Ethic Adviser looks to raise $1m Seed round

- November 22, 2022 2 MIN READ

Ethic Adviser, a sustainable investing solution for financial advisers, investment brokers and accountants, is looking to raise $1 million in Seed funding to expand the globally. The fintech was developed by Tom Culver last year, before launching in March, to give advisers a SAAS solution offering specialist sustainable investing tools and information. “With the acceleration… Read more »

Fintech

Payments startup Xiippy named the best in Queensland tech

- November 3, 2022 2 MIN READ

Privacy-focused payment startup Xiippy was the big winner from the River Rival pitch competition that closed out Brisbane’s Something Tech conference last week, taking out both the judge’s award for Best in Product and tying for the Best of the Best award with diabetes medicine subscription service Stripped Supply. Xiipy is encouraging retail merchants to… Read more »

Fintech

The Commonwealth Bank’s US$300 million investment in BNPL Klarna has turned from golden egg to millstone

- November 1, 2022 2 MIN READ

Commonwealth Bank-backed fintech Klarna’s Australian foray is starting to look like a disaster for the Swedish buy now pay later startup. Banking Day reports that just two years after its launch, an EY audit of Klarna Australia’s CY2021 performance reveals a net loss of $56 million, with revenue falling 71% on its first year of… Read more »

Fintech

‘A good first step’: Fintech Australia responds to Council of Financial Regulators report into de-banking

- October 4, 2022 3 MIN READ

A review into how to tackle the ongoing problem of de-banking in the fintech sector by the Council of Financial Regulators has come back with four key recommendations for the Australian government that industry lobby group Fintech Australia describes as “a good first step” on the issue. In March, the former Coalition government asked the… Read more »

Fintech

Fintech Paytron scores $250,000 from CBA’s x15ventures

- September 30, 2022 2 MIN READ

Sydney fintech Paytron has won the Xccelerate 2022 run by the Commonwealth Bank’s x15ventures, landing a $250,000 SAFE note. Paytron, a full-suite workflows and spend management platform, was chosen from four finalists focus on payments, including Cape, Persollo and YouPay, pitching to the investment committee last night. The deal with x15ventures gives the fintech access… Read more »

x15ventures, Toby Norton-Smith
Fintech

Here are the 4 startups CBA’s x15ventures is looking at backing

- September 27, 2022 2 MIN READ

The Commonwealth Bank’s venture-scaling arm, x15ventures, has selected four payments startups as the finalists for its Xccelerate22 program. The four – Paytron, YouPay, Cape and Persollo – were chosen from 16 fintechs chosen to take part in the  Xccelerate Community Day a fortnight ago, going on to take part in a a deep-dive session known as the Pathway to… Read more »

Afterpay
Fintech

BNPL Afterpay is better known in Australia than payments rivals such as PayPal and BPay

- July 28, 2022 2 MIN READ

The 25-year legacy of local payments platform BPAY and US rival PayPal count for little in the fast-moving fintech space with buy-now-pay-later market leader Afterpay now better known by a majority of Australians according to the latest Roy Morgan Digital Payments Report. The report found that 17.5 million Australians aged 14+ (82.8%) are now aware of buy-now-pay-later… Read more »