Today
Half a trillion dollars wiped from once high-flying fintechs
Digital companies that boomed during lockdowns have been hit by fears they cannot withstand a US recession.
- 50 mins ago
- Nicholas Megaw and Imani Moise
- Exclusive
- Funding
Start-up lets property investors access rental income early
Futurerent has banked a $9 million funding boost of its own, welcoming a handful of new investors as it plans for growth despite a correcting property market.
- Yolanda Redrup
Refundid shakes off BNPL doubts to raise $12m
The instant refunds start-up has closed a $12 million funding round, despite increasing concerns that the Afterpay-led short-term finance sector’s time in the sun has passed.
- Tess Bennett
Yesterday
EML Payments keeps bankers close as swoopers circle
The sharks are circling bombed out EML Payments – but much to their chagrin the company’s board hasn’t been all that keen to take them seriously.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
Finder, Eucalyptus among future ‘growth giants’: KPMG
While start-ups across the Asia-Pacific region are bracing for a continued wave of economic and geopolitical uncertainty, KPMG and HSBC say the Aussie sector will keep growing.
- Jessica Sier
This Month
- Exclusive
- Superannuation
Former Macquarie CIO picks the best super funds over 20 years
Craig Swanger has singled out 15 as the most consistent out-performers in the past two decades – and the most likely to thrive in recessions and rallies.
- Aleks Vickovich
Wage pressure, inflation to keep Tyro in the doldrums
Things couldn’t get much worse for the payments company Tyro – the recent resignation of its CEO Robbie Cooke is just the latest in a series of headwinds.
- Yolanda Redrup
‘In its infancy’: neobanks and VCs say bank disruption isn’t over
While the collapse of neobank Volt has given the impression that big banks are winning the battle against start-up insurgency, those in the industry beg to differ.
- Paul Smith
‘Cash grab’: Stake stock lending under fire from Reddit traders
Critics have blasted the popular neo-broker’s soon-to-be-launched stock lending business for its default opt-in and allegedly unfair revenue split.
- Lucy Dean and Aleks Vickovich
Interest grows as Australia’s first Islamic bank gains licence
The deposit-taker says investors haven’t soured on the sector and are attracted by its unique proposition.
- Ayesha de Kretser
Former Volt employees ‘inundated’ with new job offers
Companies from different corners of the business world have jumped at the chance to hire Volt’s employees since news broke that the neobank was shutting down.
- Tess Bennett
- Exclusive
- AMP
AMP Bank ready to compete in the fintech realm after cloud shift
The boss of AMP Bank says it has completed a major project to shift its core banking systems into Amazon’s cloud, meaning it can partner quickly with emerging start-ups.
- Paul Smith
Bankers fish for Tyro Payments buyers
Bankers have stepped up efforts to end headless chook Tyro Payments’ 2½ year stint on the ASX-boards, pitching the business as a turnaround play to private equity funds.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
Broke Collection House planned to offload Volt stake
Before appointing administrators, the debt collector had hoped for an $8 million injection by selling its shares in the bank.
- Liam Walsh
June
Volt retains Rothschild for closing down sale, phones run hot
There’s never a dull moment at fintech Volt.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
Volt failure puts boot into debt-chasing agency
Collection House has a stake, of dwindling value, in the fizzled neobank.
- Liam Walsh
- Opinion
- Chanticleer
Volt Bank dies with cutting-edge tech
Innovation was a key plank of the neobank’s business model. But the best mortgage platform in Australia is of little use without capital to lend the money.
- Tony Boyd
Andrew Bragg returns to crypto script
The Liberal Senator is back on the task of legitimising his backers in the hard-hit crypto sector.
- Joe Aston
How this sacked Barclays CEO turned £1m into a £600m start-up
One-time establishment banker Antony Jenkins is now looking to upend the finance industry – by using fintech to serve 1 billion people.
- Harry Wilson
Westpac turns Android phones into payment terminals
Using Quest Payment Systems’ ‘Airpay TAP’ technology, the bank will allow customers to use their phones and tablets for ‘tap and go’ card payments.
- James Eyers
