FinTech Five for Friday #9October 18 2018
Company we're impressed with: Trade Ledger
Trade Ledger is a high growth FinTech startup who simplify and automate complex banking services. Recently, they have been rated as one of the top Fintechs globally, and also the best FinTech in Australia to look out for.
A must read: On Open Banking
We have been covering Open Banking quite a lot of late, with our attendance at the FinTech Summit in Sydney highlighting how little is understood on the implications of the topic. Will, it revolutionise the Australian financial spectrum or are we ill-prepared with the opportunities that are presented to us.
The keynote speaker at the Summit, Martin McCann highlighted the above sentiments very clearly. His article in the AFR further stating “Digital banking services don’t observe national borders. So, if we get this wrong, it will no longer be a local-bank-versus-FinTechs fight; rather, it is more likely to be Australia losing its financial superpower to unstoppable open banking entrants from overseas”.
Person we're learning more about: Van Le
We have been loving following Co-Founder / Chief Strategy & Innovation Officer from Xinja – Van Le on her relentless drive to change the shape of banking in Australia. A stand-out panellist at the FinTech Summit, Van Le gave her insights into “Today, Tomorrow, and The Future with Open Banking”.
The Xinja site highlights Van’s expertise in customer experience design and her raft of work in financial services. She has an MBA, lectures at UNSW, and is a former lawyer and public servant. We are loving what Xinja are doing and we look forward to seeing where Van Le and her awesome team journey heads.
What we want you to see: Global FinTech Warning To Traditional Banks - The Threat Is 'Real And Growing'
An article by Forbes during the week reverberated with us massively. With Accenture highlighting within their piece “that new entrants to the banking market — including challenger banks, non-bank payments institutions, and big tech companies — have captured around one-third of new revenue”
It’s an exciting time ahead across the entire ecosystem with the UK leading the way with updated FinTech regulation and giving a tick of approval for a “UK-Australia so-called FinTech bridge to help firms expand internationally.”
Quote of the Week:
"Live as if you were to die tomorrow. Learn as if you were to live forever."