SmartCompany is a leading Australian news site about entrepreneurship; their annual Smart50 awards for the 50 fastest-growing small businesses include several fintech companies; small business online lenders Prospa and GetCapital came in first and second this year; their revenues were AUS$22 million and AUS$4.5 million respectively; also on the list are foreign exchange/money transfer company TorX at number five and traditional asset financier Positive Lending Solutions at number six. Source
Volt, a challenger bank in Australia has raised $70 million in a Series C round; they have now raised $100...
Australian based digital bank Xinja has raised a massive $260mn investment round from Dubai-based investor Emirates World Investments; Eric Wilson,...
Australia is beginning to feel the digital banking waves as challengers Volt and Judo begin to make inroads into a...
Australian Fintech is broadening their industry census to better understand how companies can expand overseas, interact with regulators and handle gender diversity; Ernst & Young is partnering with Australian Fintech on the census and the deadline is set for September 3rd; "Last year's inaugural census - released as part of our 2016 Collab/Collide Summit - provided an extremely robust evidence base to help FinTech Australia advocate on behalf of the industry. This year's census will be even more important as it will for the first time give us trend-based information about the industry," FinTech Australia Vice-Chair Stuart Stoyan tells AltFi. Source
Scott Morrison, Australia's treasurer, spoke about regtech at the Fintech Australia Summit; the treasurer discussed a regtech collision occurring in fintech where both crowdfunding firms and traditional banks are benefiting from increased technological innovation around regulation; likely that the marketplace lending ecosystem could see expansion in regulatory technology innovation. Source
At a time when many banks are scaling back their footprint, Austria’s state-controlled mail operator is starting to offer banking...
This year’s Geneva Report on the World Economy will cover the future of banking; it aims to consider how technology...
Banks are finally beginning to offer an automated loan application for new and used vehicles through partnerships with fintechs; this...
Several startups are approaching the auto purchase and loan process by integrating with the existing system instead of attempting to upend the current model; Kevin Singerman, founder of AutoFi, who recently inked a deal with Ford stated: "The market is so big that there's nothing preventing someone from creating a new dealership model, but I want to go after the biggest part of the pie, which is how consumers buy cars today. That's a much more attractive opportunity."; startup AutoGravity who is backed by German carmaker Daimler has a similar approach, providing a white label service to dealers; Bloomberg provides details of the current state of the auto market and other industry participants. Source