Last year, an Oracle report, which surveyed over 100 executives at major retail banks, revealed the importance of investing in digital strategies.
The announcement from US tech payments player Square that it will be launching it presence in Australia with a new headquarters in Melbourne risked ruffling some feathers among some in Sydney's booming technology startup community, who believe they are working in Australia's version of Silicon Valley.
Fintech globally is increasingly big business globally. Investment in the sector spiked last year, growing 201 per cent from 2013 to reach more than US$12 billion across 730 deals, according to research by Accenture.
Financial technology — or FinTech — is booming, with money flooding into the sector on both sides of the Atlantic.
Technological innovations focusing on the financial industry has led to a rapidly growing new ecosystem called Fintech.
In a small, modern office at the Circular Quay end of Pitt Street in Sydney, 10 fintech entrepreneurs, working for five different start-up companies, are beavering away on business models seeking to disrupt banking.
The changes happening in digital payments today are being driven by fintech innovators improving almost every way that people and businesses exchange and manage their money.
As part of its second round of recruitment for 2015, Kilkenny-based TransferMate is looking to fill another 25 positions immediately to continue growing its Irish operations.
With 65 investments under their belts, Alan Freudenstein and Greg Grimaldi, the co-heads of Credit Suisse’s Fintech investment fund, can safely claim to know a thing or two about backing financial technology companies.
A Canadian university will sell books for bitcoins and has installed BTMs to get students accustomed and more involved with financial technology services (FinTech).
The term “fintech” – the marriage of financial services with technology companies – has only recently come into vogue in Australia, with venture capital starting to flow into the sector.
Emerging financial technologies has Wall Street companies worried that if they don’t asses the threat they could suffer from similar disruption problems that have plagued publishing, retail and travel industries. Kaja Whitehouse reports. Michael Monday and Kaja Whitehouse