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NAB Swallows Up Neobank 86 400
In the space of just two months, the ranks of Australian consumer neobanks has halved from four to two, although the respective pathways could not be more different.NAB announced today the acquisition of Cuscal-owned & backed, 86 400 in a deal worth $220m.This marks a fantastic return for Robert Bell & his team who have ploughed a successful furrow into mortgage-lending, as well as offering a cool banking-app experience with solidly performing tech.Volt is now standing proud as the sole remaining independent neobank and UP continues to perform well.https://www.itnews.com.au/news/nab-to-buy-out-neobank-86-400-560381
29 January 2021 by Ben Ford
 
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FinTech

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3D investing - risk, return, sustainability
The Thinking Ahead Institute has coined the phrase “3D investing”, which is the idea that in addition to the traditional axes
27 January 2021 by Lynn Wood
 
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FinTech

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How super is your superannuation?
Many Australians worry about not having enough money in retirement. But traditional financial advice is expensive and time consuming. Sydney-based fintech mProjections wants to give every Australian confidence in their financial future. mProjections has developed an easy and useful “super report” that is available online and on demand for a very low annual fee. The report empowers you (and your financial advisor if you use one) to take action now to increase your retirement income in the future.  It’s suitable for all super fund members, including SMSFs.  Team pictured L to R:  Frank Ashe, Antik Kapoor and Derek Condell.   https://mprojections.com.au/
18 January 2021 by Jennifer Harr...
 
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FinTech

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Social bond market rockets during COVID
COVID-19 prompted rapid growth in the burgeoning social bond market, which grew sevenfold in a single year, Bloomberg Ne
12 January 2021 by Lynn Wood
 
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FinTech

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The Top 5 Aussie Fintech Apps For 2020
Despite Covid-related woes affecting all of us in 2020, the FinTech industry has shown remarkable resilience.Boosted by e-commerce, online or app-based banking, and increased attention on saving & investing, many FinTech apps, in particular, have gone from strength to strength.Here are five (plus a couple of bonus apps) that have fared well at sea in 2020, plus a retrospective look at the 2019 list.https://superfitdad.medium.com/the-top-5-finance-apps-you-need-on-your-phone-in-2020-ef86e691c202
5 January 2021 by Ben Ford
 
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FinTech

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Neobanks need to focus on both sides of the balance sheet to be profitable
App-based digital banks, known as neobanks, emerged in Australia in 2018. Major players include Judo Bank, 86 400, Up Bank and Volt.Neobanks that have been able to become profitable have focused on both sides of the balance sheet – growing customers and loan books simultaneously.Neobank Xinja has exited banking in Australia to focus on its US share trading platform.Xinja was marketed to Millennials, offering high interest deposit accounts and glow-in-the-dark bank cards but has been unable to launch loan products to offset the cash burn.https://www.smh.com.au/business/banking-and-finance/neobank-xinja-to-close-accounts-return-banking-licence-20201216-p56nw3.html
17 December 2020 by Ben Ford
 
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