The chief executive of the failed neobank says the company’s dream to take on the big four banks effectively ended on Wednesday after it was forced to shut down due to funding struggles.
The end of Volt is also a bit of a bloody nose for the regulator and its chair,who issued these three fintech lab rats with banking licences.
The former chairman of consumer finance business Humm,Andrew Abercrombie,has warned loan losses in the struggling buy now,pay later sector will worsen.
“Crazy” valuations for buy now,pay later companies have plummeted. Now investors are demanding proof these cash-burning businesses can make profits.
The owner of Afterpay will offer the buy now,pay later service to its “bricks and mortar” customers including butchers,restaurants and hairdressers.
Commonwealth Bank chief executives Matt Comyn is betting more Australians will want to take out a mortgage online.
Westpac chief executive Peter King says the banking giant is keen to make more direct investment in fintech businesses or applications that can be rolled out to its customers.
US fintech giant Block has given a strong signal that it could to launch its hit financial app in Australia,which allows peer-to-peer payments as well as trading stocks and cryptocurrencies.
Leading superannuation funds think that using robo-advice could be part of the answer to a long-running problem in providing much-needed,affordable financial guidance to their members.
Melbourne-based payments start-up is looking to raise as much as $209 million,according to people familiar with the matter.
Once our next Treasurer has their feet under the desk,they’ll face tricky questions on everything from Apple Pay,to Afterpay,to cryptocurrencies.