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FinTech

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Pay-as-you-drive car cover from KOBA Insurance
For many drivers, traditional car insurance is sub-optimal, because it's based on assumptions, not data.KOBA is a different way to buy comprehensive insurance. You pay a small upfront fixed fee to cover your car while it's parked.  Then you only pay a few cents per kilometre as you drive.  Usage is calculated in real-time so you pay-as-you-go on a monthly basis.  The less you drive, the more you save compared with a traditional policy.Signing up is quick and easy online.  Then you plug in your KOBA Rider device to your car's on-board computer and download the app. https://www.kobainsurance.com.au/how-it-works
12 December 2021 by Jennifer Harr...

FinTech

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COGSflow is pioneering a new way to fund growth for retailers
Retailers selling physical inventory face a "positive" working capital challenge: putting stock on the shelves for customers to buy and generate revenue.But how quickly will it sell?  And how generous are the supplier's trade credit terms?When Inventory Days are greater than Payable Days, there's an external funding requirement, historically filled by a traditional - and expensive - Line of Credit or Asset Finance.  COGSflow is different. By providing growth funding and insights to inventory businesses through a combination of technology and regular human touchpoints, risk is shared for the win/win.Photo: Rhys Henderson, Michelle Gleeson and David Carbines. 
5 December 2021 by Jennifer Harr...

FinTech

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Is cryptocurrency now legitimate (not just for the criminal groups?)
We've all seen the ransomware headlines - not a day goes by that a threat actor group doesn't post a cryptocurrency ransom following successful deployment of malware to a business' networks.But is the currency finally now mainstream? Recently CBA in Australia, started accepting and managing cryptocurrency (it struck strategic commercial relationships with regulated crypto exchanges and custodians).Visa is working through its Circle partnership to offer the currency, and Paypal is now live with Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.Could we see regulators move to tighten the use and flow of the currency further?https://economictimes.indiatimes.c
21 November 2021 by Daniella Trai...

FinTech

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Regtech & Fintech DLT-as-a-Platform live in Australia
A few years in the making, now Australia's Australian Securities Exchange (ASX) is live with Synfini - its distributed ledger technology (DLT) as-a-service platform.The premise is to offer multi-party services through the platform including automated consent management and data sovereignty with each party permissioned on the ledger according to specific security and privacy requirements.Could this regtech/ fintech innovation see more applications of distributed ledger technology and faster business workflows? Already KPMG is building onto the platform the NSW government building assurance solution (Broadridge)https://www.zdnet.com/article/asxs-blockchain-based-chess-replacement-pushed-to-april-2023/image credit : Hoyes
21 November 2021 by Daniella Trai...

FinTech

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The KEY to fix crypto's security vulnerability
Cryptocurrency is on the rise. Australia’s technology pioneer Peter Kazacos OAM of KAZ is bringing KAZ quantum security technology, in partnership with Quantum Digital Assets Limited. The industry-first solution is set to revolutionise cryptocurrency security by using quantum technology to fight quantum computing and upgrade the cryptography of existing protocols (like Bitcoin). Using real quantum phenomena, the quantum tunnelling of electrons are totally unpredictable and entirely random to produce quantum cryptographic keys. Theoretically this is impossible to reverse engineer and breach. This has the capability to solve crypto’s security vulnerability and remove threats posed by quantum computers. More: https://quantumassets.vg/
19 November 2021 by Samantha Sakr

FinTech

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Spriggy Diversifies Its Portfolio
Leading pocket money app, Spriggy, has made its first move outside of kids money management with the launch of Spriggy Invest, aimed at enabling parents to invest for their children's future.The app initially offers simple ETF-based options, either locally in Australia or in Global Technology shares.Spriggy benefits from a rapidly loyal customer-based of circa 400,000 Australian households, so the idea to futher monetise this base by offering additional services to families is likely to have been a no-brainer.The investments are managed by the Cache Invest - investment-as-a-service - platform.
20 October 2021 by Ben Ford