Reimagining wealth management for the digital age
David Levi looks at why responding to the digital challenge is not just about defence but about shaping a new era of wealth management. As consumer needs and the financial landscape evolve, major banks are being forced to reconsider their approach to wealth management services. Colonial First State, for example, has predicted that the retirement of Baby Boomers would result in unprecedented transfers of wealth. Similarly, Citigroup announced its plans to triple the size of its wealth management business in Australia by 2020, as it targets customers with more than $1 million to invest. While the Association of Superannuation Funds of Australia (ASFA) reports that private sector forecasts superannuation assets […]
Australia Post signs on its first businesses with its Digital ID
Online job marketplace Airtasker, credit union CUA, foreign exchange company Travelex, and Queensland Police are among the first adopters of Australia Post’s new digital identity service as it seeks to corner the local market in proving credentials when the online and physical worlds collide. The Digital ID has been under development since early 2016 and will allow people to rapidly verify their identity via their smartphone using stored biometric data and other information. The technology will allow individuals to apply for passports or mortgage by mobile and Australia Post’s executive general manager of trusted e-commerce services Andrew Walduck said it was now entering commercial use and would become a growth […]
Waddle Integration With Xero Transforms Invoice Financing
Media Release Waddle Loans Pty Ltd (Waddle) has today announced a first-of-its-kind invoice financing product that integrates with Xero’s cloud accounting software. The solution is available through Xero’s Australian add-on marketplace giving small business owners a simple way to fix their cash flow by establishing a revolving line of credit based on the businesses unpaid invoices within Xero. This new financing solution enables small businesses to use their Xero data to boost cash flow by drawing funds against unpaid invoices the instant they are created, automating every aspect of the financing through a two-way real-time data exchange made possible by the connection. The new offering transforms the traditional “factoring” system, whereby small businesses sell outstanding invoices to a third party financier in […]
