FlashFX first off the block to use blockchain for international money transfers and launch into Asia
Foreign exchange digital currency provider, FlashFX, announces it is the first Australian company to receive an Australian Financial Services Licence (AFSL) from Australian Securities and Investments Commission (ASIC) to transfer money internationally using blockchain technology. The FlashFX infrastructure is built on the Ripple distributed ledger technology using their real time currency settlement and payment network. “FlashFX is designed to revolutionise the way everyone makes international money transfers,” says Chief Enabling Officer, Nicolas Steiger. “We purpose built the platform to move money overseas securely, quickly, cheaply and with more control for consumers. “Blockchain offers a cryptographically secure end-to-end payment flow and records all transacted information. Being regulated by ASIC adds that […]
Cybersecurity in Fintech: 3 major risks, and how to tackle them
Cybersecurity in Fintech: ESET look at the three major cybersecurity risks in the fintech world and how to tackle them.
Fintech veteran backs the young guns
Sydney based Cryptocurrency payments start-up, CryptoSpend have announced that Fintech veteran Andrew Porter has taken a minority stake in the business.
The Finnies. The Winners!
Congratulations to the 2018 Finnie Awards Finalists and Winners! FinTech Organisation of the Year WINNER: Afterpay FINALISTS: ● Afterpay ● Avoka ● BRICKX ● Class Limited ● Cover Genius ● Flamingo AI ● Invoice2Go ● MoneyPlace ● OnMarket ● Prospa ● RateSetter Australia ● SocietyOne ● Stockspot Emerging FinTech Organisation of the Year (company must be <2 years old) WINNER: Civic Ledger FINALISTS: ● Civic Ledger ● Finch ● InDebted ● LanternPay ● Link4 ● Longevity App ● Look Who’s Charging ● Medipass ● Till Payments ● TIQK ● TravelbyBit Outstanding FinTech Leader of the Year (can be from any field) WINNER: Katherine McConnell – Founder and CEO, Brighte FINALISTS: […]
FinTech Australia announce finalist for The Finnies 2018
FinTech Australia and Jobs for NSW have come together for the second year to host the national fintech awards, The Finnies. The Finnies will culminate in a Gala Awards Night Wednesday 13 June 2018 in Sydney. For more information go here. Here is the full list of finalists for the 2018 Finnies: Best Workplace Diversity ● BRICKX ● FirstStep Investments ● Link4 ● Valiant Finance Emerging FinTech Leader of the Year ● Brad Delamare – CEO, Tank Stream Labs ● Louis Edwards – Head of Renewable Energy Finance, RateSetter Australia ● Nick Molnar – Co-Founder & CEO, Afterpay ● Jack O’Reilly – Director, funding.com.au ● Rebecca Schot-Guppy – Community Manager, […]
Here’s fintech’s secret pitch to the RBA to create an Australian dollar cryptocurrency
A group of fintech startups have submitted cases to the Reserve Bank of Australia and the federal Treasury to demonstrate the need for a new government-endorsed Australian dollar cryptocurrency. Business Insider can reveal three fintechs, through industry body FinTech Australia and the government’s Fintech Advisory Group, presented use-cases for a new Digital Australian Dollar – the DAD – which would be pegged to the physical Australian dollar and compete against the likes of Bitcoin and Ethereum. “The Digital Australian Dollar would be a huge step to grow our vibrant blockchain and digital currencies industry,” said FinTech Australia chief executive Danielle Szetho. “Having key stakeholders like the RBA involved in further […]
Digital wallet progress in Australia is slow but on the rise
The technology is ready. Banks know how to use it. Consumers want it now. So just when will we get the digital wallets we’ve been promised? What seems like a straightforward question with an equally straightforward solution has become mired in politics, as tech companies and banks disagree on the right way to deliver convenient mobile payment experiences and Australia’s competition watchdog and courts are forced to step in to mediate. But there have been small breakthroughs lately in what experts say is a sign that digital services will replace dog-eared wallets and overstuffed purses within years rather than decades. While Google Android phones were first to add secure Near […]
A great fintech border invasion
If ever there were a banking niche ripe for disruption, it would be cross-border payments. It almost defies comprehension that Amazon can deliver physical goods faster than a bank can make a credit entry. The reason, of course, is that remittances still meander through the 600 year-old correspondent banking system, which requires six players to link up to achieve the final outcome — the payer, the payer’s bank, the payer’s bank’s correspondent, the beneficiary’s bank’s correspondent, the beneficiary’s bank and the beneficiary. The system is clunky, opaque and extremely costly for users. Fintech was always going to find a better solution, and the machinery is now in place for far-reaching […]
