Fintech floater convinced blockchain its future
David Cassidy, the managing director of Irish float hopeful KYCkr says blockchain is the future of its business identity check business. KYCkr is raising between $6 million and $8 million by floating between 30 million and 40 million shares at 20¢ each on the Australian Securities Exchange in June. This would give it a market capitalisation of between $25 million and $27 million. The funds will be used to market the business in Europe and Asia as well as move its systems to a blockchain, or distributed ledger. The company, which has direct links with government business registries around the world, verifies the business customers of banks and other companies […]
Globalisation of FinTech: Are we learning from our neighbours?
Most areas in the fintech space are hotly contested. Anyone watching the fintech space can feel overwhelmed by the sheer volume of perspectives that emerge when a new product is launched, an article is written or a tweet is sent. And that is largely because fintech is global. Fintech companies may operate in their own local markets and compete with, or “disrupt”, local banks, but financial technology as a whole is a global dealing. Any discussion of fintech needs to have this perspective. This is not just a matter of having the correct frame of reference for discussion and debate, it ensures we find the right way to […]
Craig Wright says he will prove he is bitcoin creator
One day after Australian businessman Craig S. Wright declared he created the virtual currency bitcoin, he says he plans to prove it.
WorldRemit chooses Australia to springboard growth in Asia-Pacific
Global leader in Mobile Money transfers appoints Michael Liu to drive growth in region. Mobile Money transfer service WorldRemit – the UK’s fastest-growing technology firm1 – has chosen Australia as its base in Asia-Pacific. One of Europe’s biggest FinTech services, the WorldRemit app, lets migrants send money instantly to their friends and family abroad in Latin America, Africa, Asia and the Pacific. WorldRemit is the leading sender of remittances globally to Mobile Money services, which have emerged as the payment system of choice in many developing countries where large numbers of people lack access to traditional banking services. With Mobile Money, people can instantly receive money transfers on their phones […]
Blockchain technology to impact financial services sector
Blockchain technology has the potential to improve client’s end-to-end experience but the legal profession must consider its regulation, according to Norton Rose Fulbright lawyers. Nick Abrahams, APAC head of technology and innovation, told those gathered at Norton Rose Fulbright’s Unlocking the Blockchain event last week that “Blockchain will radically impact the financial services sector”. Mr Abrahams – along with Norton Rose Fulbright consultant Tessa Hoser and senior representatives from ASIC, CBA and the ASX – were part of a panel discussion about blockchain technology and regulation at the event. The session focused on the potential applications of blockchain and distributed ledger technology, and the key legal and regulatory considerations for […]
Trov announces $25.5 million funding, launches world’s first on-demand insurance for single items
With $39M total funding to date, Trov will help people around the world insure just what they want – exactly when they want – entirely from their phone MEDIA RELEASE – APRIL 27, 2016 – Trov, a technology company reinventing insurance for the mobile generation, today announced that it has closed $25.5 million in Series C funding led by Oak HC/FT, bringing its total funding to $39M. Other prominent investors in the round include leading Australian insurer, Suncorp Group (ASX:SUN), insurance technology provider, Guidewire (NYSE:GWRE), and fintech venture capital firm, Anthemis Group. In addition to the funding, Trov is announcing its upcoming launch of the world’s first on-demand insurance platform, […]
Banks Struggle to Keep Pace with FinTech Disruption – World Retail Banking Report 2016
FinTech providers are making increasingly significant inroads with customers, yet the vast majority of banks admit they are not adequately prepared to manage this emerging FinTech threat, according to the 2016 World Retail Banking Report (WRBR), released today by Capgemini and Efma. The report found that nearly two-thirds of customers (63 percent) are now using FinTech products or services, and are much more likely to refer friends and family to their FinTech provider (55 percent) than to their bank (38 percent). However, while 96 percent of banking executives agree that the industry is evolving toward a digital banking ecosystem, where Fintech providers play a much bigger role, only 13 percent […]
Accenture calling for fintech entrants
Fintech startups are being asked to apply for a place in a 12-week program that will see the young companies gain exposure to executives at big global banks. Accenture is taking applicants for its third annual Asia-Pacific FinTech Innovation Lab, a program for entrepreneurs that are developing technologies for the financial services sector. It focuses specifically on new technologies in the areas such as big data, analytics and cognitive computing, security and identity management, risk management and compliance, blockchain technology, and Internet of Things applications. Accenture says investments in Asia-Pacific fintech companies are on the rise, totalling $2.7 billion in Q1, 2016 – representing 51 per cent of the $5.3 […]
