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The FinTech Report Podcast: Episode 24: Interview with Jaco Veldsman, Co-Founder, PaytronWe started with payments and accounting, customers then asked us for corporate cards and FX, and Open Banking for Business will be a game changer, says Paytron Paytron is a cloud-based payments platform built for SMEs and accountants.  In 2020, Jaco Veldsman met co-founder Francois Henrion, where they lamented the disparity of finance tools available to SMEs and accountants versus bigger businesses.  Together they focused on developing Paytron, an all-in-one payment platform that removed the manual work for SMEs and accountants covering accounts payable, accounts receivable, cashflow management, FX, and payroll and employee expenses. In this episode we cover:·       Accounting packages haven’t innovated, Paytron saw the opportunity·       Focus is on SMEs, small business up to $100m turnover·       Paytron’s philosophy was to launch fast, and innovate fast·       Laser focus on what the customer wants; out of this came the request for corporate cards·       Partnership with JP Morgan is huge·       FinTech & Banks are a perfect partnership and each brings their own skills and advantages·       Next major problem is business banking, business financing needs, which can include corporate cards·       Business banking needs to change, and Paytron will be moving hard and fast in this sector·       Expansion plans to English speaking Commonwealth countries; NZ, Singapore, South Africa, Canada, UK. The JP Morgan partnership opens up other countries, eg USA·       Great benefits of being in the Commonwealth; same language and very similar regulations, taxes etc·       Paytron will expand into FX (foreign exchange)·       Jaco explains the role of corporate cards·       Jaco explains their amazing funding journey (US VCs as well as Australia), and building the team·       Open Banking is huge and will be big; banks need to ‘choose a side’ says Jaco·       FinTechs can access bank accounts (via Open Banking) and offer new services: when fintechs can have “read and write” access, then fintechs will offer services as well as payments Qy2Pt8Aij9VtVpZbbxU1 
Mark Monfort, Co-Founder of the Australian Defi Association, and Nick Bishop, Co-Founder of Bishop & Fang to the podcastMark is an expert on DeFi #web3 and #blockchain – he’s worked in both the finance and technology sectors. His professional career started off in insurance as well as working as an auditor for a Big 4 firm (PwC). It was through his next role as an analyst at Commonwealth Bank that he first formed his passion for analytics and the power of technology and data to transform the way we make decisions. In his role with the Australian Defi association, or ADA, Mark’s vision is to make the topic of DeFi more mainstream, build a community of partners contributing to grow the sector, and provide educational resources and news from the world of blockchain, DeFi, web 3.0 and all things crypto.Nick is the Co-Founder of Bishop & Fang, a Specialist advisory firm for Investment and management consulting, Corporate finance, due diligence, restructuring, debt advisory, capital raising, investor relations, asset management, commercialisation. Established network of institutional investors and service providers. Nick is an advisor and investor to a number of tech startups, and his experience includes stints at Gresham Partners, Standard Life Aberdeen, Deutsche Asset Management and Canada LifeWhat we discuss in this episode:What is DeFi?Who does the DeFi association represent?What are the key areas of DeFi you focus on? Mark and Nick discuss the NotCentralised team and how its projects include various internal ones like the Aus Defi Association and a payments protocol called TradeFlows and how they are helping other 3rd party projects How crypto is more than meets the eye and about the innovation in this spaceHow things are built and similarities and differences between web2 and web3We could also talk about how to get involved in this space and do some encouragement etcWhat are some of the hot topics in DeFi at the moment?All of crypto seems like its in the dog house right now – what are your thoughts on that?
The Fintech Report Podcast: Interview with Paul Apolony, GM Australia, MambuBanks and the Race to High VelocityIn this podcast we discuss:  ●      How does a lifelong banker end up running Mambu Australia? ●      Discuss wider industry experience that crosses over to MambuWhat does Mambu do?●      Mambu is the market leading cloud banking platform – launched in Berlin in 2011, Mambu now operates globally. Series E funding round in December 2021 raised an additional €235m, taking total valuation to €4.9 billion (‘double unicorn’ status)●      Mambu provides the technological foundation – a SaaS based cloud-native banking platform – for banks, financial service providers and other fintechs to launch innovative digital banking products and services●      Think of the Mambu platform like the engine in a car – it provides a powerful core for digital banks, and enables other providers and services to ‘plug in’ to the platform via open APIs, so customers can build the digital bank or digital product that their customers want●      hundreds of customers all over the world have launched some of the most innovative and forward-thinking banking products and brands ever seen – full digital banks banks, digital arms of conventional banks, payment providers, ewallets, lenders, BNPL – any financial product or service you can think of can be built on Mambu●      Mambu’s cloud core banking platform replaces expensive and monolithic legacy core banking technology stacks – cloud native and soon to be cloud agnostic across(Google Cloud, AWS, Microsoft Azure,)●      Many banks in Australia, and in fact the world, have legacy technology stacks coming to the end of their life cycle – this on-premises core banking technology is expensive and time-intensive to run, and very slow to update or make changes. This is especially evident in the Mutual/Customer owned banking space.  A cloud native core like Mambu brings speed, agility and flexibility, meaning traditional, old-school banks can start to operate like nimble fintechs, launching new products in weeks rather than years, and responding to changing consumer expectations on the fly●      Companies can launch an entire digital bank on Mambu, OR launch specific digital products●      A popular and effective way of transitioning to digital is by incrementally replacing individual components within a bank’s existing tech stack – reduces risk of a rapid ‘rip and replace’ approach and allows the bank to bring customers along on the journeyWhat’s the status of Mambu in Australia?●      AU entity established in Jan 2022●      Actively recruiting – current team is 22 FTEs working from Syd, Mel, Bris and Per●      Leveraging Mambu’s experience in Europe, UK, APAC ●      Current customers include fintechs like Shaype (formerly Hay), ADIs such as Tyro, lenders such as Lumi, Bluestone, Prospa and Nimble, and soon to be announced tier 1 bank in Australia.What is ‘composable banking’ and why is it gaining traction?●      Mambu coined the phrase ‘composable banking’ more than 10 years ago, and it’s recently been picked up by competitors in cloud core banking space - a compliment ●      Composable banking is the rapid and flexible assembly of independent, best-for-purpose systems●      Mambu are now speaking to our customers and prospects about the “Race to high velocity” – Mambu’s ability to enable them to scale in a quick, flexible and cost effective way and meet the growing demands they are encountering on a daily basis.●  &nbs
Paul Weingarth, Co-Founder of SlypPrior to co-founding Slyp, Paul worked for the Commonwealth Bank, Microsoft and PayPal.  Paul’s now on a mission – he wants to end paper receipts and plastic loyalty cards; how is it that in 2022 we tap our phone or card or watch to make a payment in-store, then we are handed a chemically coated non-recyclable piece of paper to keep a record of the purchase. 20,000KM of paper receipts are printed every day in Australia. Imagine what the global total is?About Slyp: With Slyp you can pay with your bank card and automatically receive an itemised tax receipt inside your mobile banking app or via SMS, at no cost – Slyp calls these ‘smart receipts’ – A Smart Receipt is a tax compliant, easily accessible proof of purchase that lives directly in the mobile banking app, or via SMS - Slyp is available in the NAB banking app and other banks will follow soon.  Slyp has navigated unchartered territories by becoming Australia’s only independent fintech to gain the backing of all four major banks. 'Obsessive Customer Disorder' leads Slyp to digitise receipts and loyalty for Australia’s Big Four BanksKey points in the conversation:•Contactless payments is only half finished; Slyp wants to end paper receipts – the ‘last mile’ of the payment process•Paul and the other Co-Founders are obsessed with the customer – Paul calls this ‘OCD – Obsessive Customer Disorder’•Nothing good comes from paper receipts•Paul’s PayPal experience helped him understand the payments process•The Slyp Smart Receipt has been built on ‘pipes’ that haven’t been connected before•Slyp integrates directly into the POS terminal (Point of Sale); merchant side•Plus Slyp has built pipes into the banks, so connecting/matching transaction to receipt in a few seconds•Everything is standardised – so Slyp is the one provider that offers a standard experience for all banks (Apps) and all Merchants•Often standardisation & collaboration happens because of regulation (eg EFTPOS, NPP, Open Banking); but Slyp wasn’t driven by regulation – it’s driven by Slyp.•Slyp receipt is inside the customer’s banking app; receipt is displayed inside the banking App. Completely frictionless for the customer.•Fully tax compliant tax receipt. •For Slyp, the receipt is just the start – the customers digital data is available to the Merchant; so the Merchant now has the possibility of starting an ongoing relationship with the customer; eg loyalty, tailoring offers. •Who owns the data? – all parties to the process; Slyp, the Merchant, and the bank, all retain their component parts to the data, and Slyp wants to provide the insights for all parties – Paul uses the term “Data for Delight” – Paul says Slyp is the “Switzerland of the system”•NAB now, the other three banks in the next 12-18 months•Slyp Smart Receipts will always be free. •Business model is a SaaS model for the banks, and Freemium service for the merchants; they can take up additional services if they want.•Australia is a great place to start a fintech. Australian consumers who love using new technology, and adopt new technology very fast, especially mobile and payments.•The fintech and banking eco-system is a leader in contactless payments. •Concentration in banking of the four majors (NAB, CBA, Westpac, ANZ), plus two large / dominant merchants/supermarket chains (Coles, Woolworths), plus only two card providers (Mastercard, Visa) means it was easier for Slyp to create a standardised product. Paul says this set-up is ‘the perfect storm”•Funding: Slyp has received investment from all four of Australia’s big banks: NAB, ANZ, CBA and Westpac – the first time ever in
Build your dream on Oracle Cloud - Interview with Pijush Mukherjee from Oracle and Karthik Srinivasan from Ziksu.About our Guests:  Pijush Mukherjee from Oracle Pijush is a Technology leader with 2 decades of experience in business development, partner management, consulting, solution and delivery management of digital transformation initiatives across industries. - Working as Head of Digital Natives, he and his team are helping Fintechs to grow their business in APAC, partnering with OracleOracle Fintech InnovationNext-generation cloud from Oracle, with industry-leading solutions such as open banking APIs, Pre-configured blockchain, autonomous database and many more , provides an ecosystem and platform to help drive innovation. Banks & fintechs can deploy the industry’s most comprehensive set of  cloud solutions for financial domains to test out solution hypotheses, roll out MVPs and scale fast, reducing the deployment time and cost significantly. Fintechs around the world have joined Oracle for Start-ups or the Oracle Partner Network to help accelerate their growth leveraging Oracle’s world-class platforms and ecosystems.Karthik Srinivasan from Ziksu Karthik Srinivasan, Founder and CTIO of Ziksu, has responsibility for the strategic direction for Ziksu and its product portfolio. Karthik has over 17 years of professional experience working across Australia and APAC region. Karthik has had stints in varied capacities with banks and global technology organisations. His area of expertise lies in the convergence of financial services and technology.Ziksu, is an Australian fintech that offers a suite of digital financial products for Retail and Business customers. Ziksu has developed a fully digital, 100% mobile only product, Scan n Pay, that delivers a third alternative for instore payments using QR codes with real-time settlements. A single, seamless, and easy to use app for merchants and personal consumers. Ziksu’s provisional goal of financial services for every Australian is to be convenient, accessible, and affordable.Key Points discussed during this interview:•            Overview of Ziksu•            What problem does Ziksu solve for?•            Who are Ziksu’s customers?•            Team size, number of customers, growth•            How is Oracle helping Ziksu?•            What is Oracle’s interest in fintech?•            Thoughts on technology selection – especially ‘Scan & Pay’ vs ‘Tap & Pay’ – including features, scale up costs•            Why did Ziksu choose Oracle Cloud?•            Experience of Oracle to date•            Why is Oracle different? Oracle's Deep Roots in Financial Space•            Global Presence supporting India and APAC expansion Plans
Cake Equity offers free “1 click ESOP” to early stage fintechs to democratise the fundraising process  Founders want to quickly and easily understand how to issue options to their team. And when raising capital from Angels, investors and VCs, they want a good deal using industry standard terms that will protect them.Cake solves the problems inherent in fundraising at the early stage; the cost and complexity of the whole process by offering very early stage fintechs the option of a free account for up to five founders/staff.Cake Equity is part of the democratisation of the fundraising process, such as Seed Legals in the UK, who enable Founders to manage their ‘cap table’ from startup to IPO.Typically this involves creating and managing all sorts of documents, from Shareholders Agreements, Term Sheets, ESOPs (Employee Share Option Plan) – Cake Equity has built a service that allows a “one click ESOP” – a huge benefit for Founders looking to streamline this process in their business. For very early stage founders/startups, Cake offer this for free. After 6 people, Cake start charging – typically $30 PCM per person.Cake integrates with ASIC and crucially, enables founders to showcase all the shareholder information to potential investors – enabling the ‘due diligence’ to be completed in days not weeks. 
“Time to Yes” is FinTechs Key Issue says Experity CapitalEpisode 18: Interview with Clint Howen, Founder at Hero Broker & Director/Head of Digital at Experity CapitalKey items discussed in this interview:1.      “Time to Yes” is the Number One Issue2.      Time to Yes is driven by FinTech ‘Super Apps’ because they offer greater insight into a customer’s financial/wealth position 3.      Super App’s only possible because of data aggregators (such as Yodlee, IDS, Core Logic etc)4.      Large numbers of Mortgage Brokers to retire soon, creating opportunity for FinTech to offer technology at scale for home loans Clint Howen from Experity Capital says he built Hero Broker to offer a fully digital home loan experience, but he realised that customers still want to speak with, or be guided by, another human when it comes to the home loan experience.Whilst the number one driving force for the technology is how to reduce the complexity and time is takes to originate a home loan, human psychology is such that customers still require explanation on the process for applying for, and getting a home loan. FinTech allows Brokers to ‘do more with less’ – Clint is planning to use technology to scale how many clients a broker can deal with at any one time. Additionally, a large percentage of the current home loan/mortgage brokers are over 55, and will retire soon; Experity will look to buy their ‘mortgage books’ and use their brokers plus their technology to service the clients.FinTech allows Brokers a greater and deeper insight into each customers, whereby the technology pulls more data into the ‘one view’ of a customers income/wealth profile, allowing a Broker to help the customer, especially on the home loan journey. This issue is often referred to as the ‘benefit of the Super App’Clint discusses how a large percentage of Mortgage Brokers will be retiring over the next decade, creating a huge opportunity for online/fintech if they can get the balance right between technology at scale and human-to-human interaction.Yodlee and other data providers play a crucial role in enabling the ‘Super App’ by bringing the data together in one place About Clint Howen, Hero Broker and Experity CapitalClint is an experienced startup founder with a mission to connect the design, technical and business worlds to help build innovative, user-centric products. Clint is the founder of Hero Broker as well as Director and head of digital at Experity CapitalExperity Capital is a fintech and mortgage broker that offers customer the ability to Manage All their Money, Assets, Investments In The One Place. Experity customers can Manage & view all their bank accounts, property assets and investments in the one place.  Listen to all the episodes here:    
Hay-as-a-Service leads Embedded Finance revolution Interview with Mark Hansell, Chief Product Officer at Hay-as-a-Service Hay-as-a-Service – or HaaS - is leading the embedded finance revolution via their platform that enables any company to ‘stand up’ financial products in as little as 10 days.  The team at HaaS believes that the future of finance does not start and end with digital transformation, rather the seamless integration of those services into any customer journey.  HaaS solves for the problem of launching financial products even if you are not a financial services company.  Through a single API, clients can access HaaS’s full suite of microservices for payments, KYC/AML, and a range of accelerator tools.  HaaS removes legacy constraints, prioritising speed, flexibility and control, to deliver value and innovationHay as a Service (HaaS) is an embedded finance platform that lets any company offer a financial product to their customers, without having to build it themselves.  More importantly, they can do that with total control and flexibility over how they bring it all together, so they can build their brand and their customer experience the way they want it to be (and the end customer doesn’t see the Hay/HaaS brand).Clients are financial and non-financial companies who in turn have consumers - and in some cases small businesses - as their customers. Clients pick and choose from the HaaS suite of microservices – and they access it all through a single API.  The platform is modular so clients can pick and choose the services they take. The majority of clients anchor their product around three core HaaS products; 1.      Accounts2.      Cards3.      Funding railsThey then add additional services depending on their specific needs – such as onboarding. In addition to the core offering, HaaS have a range of accelerator tools and support services, that are designed to get products to market better and faster.  HaaS has a multi-rail sandbox environment for both bank transfer and card payments testing – including via an app - and clients can use a staging environment to do controlled development without impacting production.  HaaS enable rapid proof of concept so clients can get to market fast.  Thank you to our Partners; Australian FinTech and Envestnet YodleeAll episodes available here: 
The FinTech Report Podcast: Episode 16: Interview with James Vaughan, CoreLogicCreating the digital property DNAJames is the Head of Data Products at CoreLogic, and has extensive experience across the data, banking and financial services sectors. He holds a deep understanding of property data trends, digital customer engagement, and risk management from his years in leadership roles across sales, account management and customer solutions. CoreLogic Asia Pacific is a leading, independent provider of property data and analytics. They help people build better lives by providing rich, up-to-the-minute property insights that inform the very best property decisions. With an extensive breadth and depth of knowledge gathered over the last 30 years, they provide services across a wide range of industries, including Banking & Finance, Real Estate, Government, Insurance and Construction. Topics covered in this interview:What does CoreLogic do? What problem do they solve?Who are their customers? What is their best work? How do they measure results for your banking and lending clients? How does house price information impact ‘responsible lending’?What is the sweet spot for CoreLogic and banking clients right now? {Digital Mortgage}·       The value of real-time data at every touchpoint in the customer journey·       Helping to modernise the mortgage process and improve the customer experience  How will machine learning and Ai impact CoreLogic and their clients?What role do you see data playing in helping connect the property ecosystem and the energy sector in the sustainability space? 
The FinTech Report Podcast: Episode 15Interview with: DAVE MAUNSELL, CEO, Haventec Cyber Attacks are growing; what do you need to know to keep data secure and maintain a customer’s fast access to a serviceHaventec provide decentralised platforms that transform security, accessibility and experience   Delighted to welcome DAVE MAUNSELL, CEO of Haventec to the podcasto   Prior to joining Haventec Dave spent ~20 years at Accenture where he occupied a number of leadership roles including Managing Director for Accenture Digital (AU and NZ).o   Haventec was founded in 2014 by Ric Richardson (inventor of Uniloc, "try and buy" software) and Tony Castagna (co-founder of Nuix) with the vision of enabling the open enterprise to engage digitally, without the risk of maintaining and operating large repositories of sensitive information. o   Haventec’s platform provides start-ups, scale-ups and enterprises with the means of protecting sensitive information (including usernames, passwords and data) in a way that when their network is breached there is nothing of value to steal - a very novel and innovative way of approaching the challenges of maintaining a secure environment and protecting privacy.  Note's from Dave:1.  ORIGINS OF HAVENTECo   Current technologies are providing inadequate protection to data and other sensitive information. o   being prepared for when your enterprise gets breached is the best protection against the loss of critical digital assets – specifically digital identities and sensitive data.o   Haventec was founded in 2014 by Ric Richardson (inventor of Uniloc, "try and buy" software) and Tony Castagna (co-founder of Nuix, with the vision of enabling the open enterprise to engage digitally, without the risk of maintaining and operating large repositories of sensitive information. o   Haventec have developed a patented platform that provides enterprises with the means of safeguarding the privacy of the people they both serve and employ – if sensitive information (data and digital credentials) is protected by the platform, when the enterprise or its cloud is breached, there is nothing of value to steal.o   From late 2018, Haventec’s focus shifted from building the platform, to validating the platform. This included:-      Engaging David Hook to complete an independent cryptographic assessment of the platform; -      Performance benchmarking the platform;-      Securing PCI DSS compliance;-      Finalising the insurance offer; and -      Deploying the platform to select clients.o   Haventec finalised its go-to-market strategy in late 2019, and focus has shifted to growth – both direct as well as channels. The enterprises we are engaging with are all seeking the means of enhancing the controls they have in place to protect sensitive information, on both sides of the firewall.o   In parallel to executing the go-to-market strategy, AustCyber are providing funding to fast-track an eConsent solution for personal health information, including genomics data.o   In simple terms, Haventec has built a platform that introduces a paradigm shift in how enterprises reduce their exposure to risk. They have solved the paradox of keeping sensitive data safe, while supporting increasing business demands, and consumer expectations, for openness, connectivity, performance and privacy.o   Consumers, enterprises and regulators are all seeking a solution to the inherent weaknesses of the current digital trust model. Haventec is
The FinTech Report Podcast: Interview with Kimberley Gaskin, Director, Six Black Pens Fuel for growth: Foundational Strategy the key to scaling up successfully Six Black Pens is an independent, strategy-led creative communications agency that’s all about smart, effective work. They are specialists in complex business and set out to understand, decode and define – to simplify without diluting. Clients have included NAB, MLC, Aware Super, Ignition Advice, PEXA and AGL. Their unique value proposition to clients is “We make the complex beautiful”. In this episode of The FinTech Report Podcast, Kimberley discusses the importance of foundational strategy to FinTechs when starting out and scaling up, and how Six Black Pens approaches foundational and other communications strategies through the lens of Behavioural Economics. Among the topics covered, Kimberley explains: ·       Why FinTechs, when they begin to scale up, need to change their communications strategy to effectively target a consumer and not an investor audience.  ·       That Six Black Pens considers its best work to be its most effective work – that is, work that delivers on a business goal for the client but at the same time delivers value to the client’s customers. ·       Why Behavioural Economics should be the foundation for any marketing, advertising or communication with a customer.  ·       How System 1 (fast, automatic) and System 2 (slow, considered) thinking drive consumer behaviour and how understanding customers’ unconscious biases leads to more effective communications. ·       How SBP expertise in Behavioural Economics – and a strategy based on 5 key behavioural nudges – helped Australians take charge of their superannuation. ·       Why it’s vital to select the best channel for your audience’s level of digital comfort – and why that channel must be optimised for its specific audience. ·       That every communications strategy must have hard metrics baked into it to measure success against. ·       The importance to FinTechs of thinking about foundational strategy right from the beginning – that is, the building blocks of your identity, your message, your communication, your customer value proposition and your audience segmentation. ·       Why FinTechs must get the customer onboarding experience right – and the building blocks needed to achieve this. ·       What FinTechs and traditional banks can learn from one another and why this new ecosystem is better for customers and Australia. If you’d like to be taken through a sector specific insights presentation focusing on the value of foundational strategy for FinTechs you can contact Helen via email: helen 'at' sixblackpens 'dot' com  Our thanks to Australian FinTech News and Envestnet Yodlee for their support of The FinTech Report Podcast. 
The FinTech Report Podcast: Episode 13: Caleb Gibbins, Founder, Cache Investment Management Micro investing Apps have 1.3m customers over 8 providers, with growth at 120%+ last year, says Cache.More people now own shares/ETFs via micro-investing apps than directly.Cache predicts micro investment Apps will have 7m accounts in 5 years. Growth driven by new fintechs and banks who outsource Fund Management to Investing as a service providers like Cache.Cache provide Investing as-a-Service so that any company can be a Fintech company.You can integrate Cache’s fully digital investment products directly into your existing app, website or other platform through their APIs. Clients include UpStreet and Spriggy Invest. Cache on a mission to help your customers invest Launching investment products is hard; Cache is your end-to-end fund manager, and offers licencing and financial infrastructure: licencing, registry, fund administration, payments, trustee, custody, trading – broking, settlement, tax accounting; fund audit, PDS documents. Trustee, Custodian & Broker are third party suppliers and will be appointed by Cache.Perfect for passive investing or micro wealth advice apps where service is not ‘stock picking’ rather buying ETFs or hugging the index style investment strategies.Cache enables trading in Australian and US listed assets/equities.Cache conducted a report into Micro Investing; available here:  The FinTech Report podcast is brought to you in Partnership with Australian FinTech, a news and information website as well as a Directory of over 800 fintechs – and global data aggregator and Open Banking experts, Envestnet Yodlee. Envestnet | Yodlee’s data solutions are used by some of the region’s most exciting and innovative companies, including 86 400, Xero and Finder.
NFTs: From Crypto Punks to Taco Bell – How NFTs and Programmable Money (Smart Contracts) are revolutionising art markets Interview with: Tim Lea, Founder, Walking Between Worlds Tim Lea has been in the Blockchain space since 2015, he is the author of “Down the Rabbit Hole”, a book about Blockchain and Cryptocurrencies,  and is about to launch his “Walking Between Worlds” project to enable Indigenous communities to capitalise on the NFT revolution.This podcast is not financial advice. The information on this podcast & website is for general information only; it should not be taken as constituting professional advice from the website owner. Please seek expert financial advice before making an investment.According to a recent article in The Economist, crypto currencies and other digital assets are worth over $2 trillion dollars. To put that into perspective, the global gold market is estimated to be worth $10tr. The value of transactions that one of the most popular crypto platforms, Ethereum, reached $2.5trn in Q2 this year, around the same sum as Visa Card processes.And there is a new explosive trend that is adding even more to the value of the market – Non Fungible Tokens – or NFT’s –An NFT is a digital asset that represents a real-world object like a piece of art or music. They are bought and sold online and stored on blockchain platforms. NFTs are like physical collector’s items, only digital. So instead of getting an actual oil painting to hang on the wall, the buyer gets a digital file instead. NFTs are gaining traction because they are a great way to buy and sell digital artwork.For example, in March this year auction house Christie’s sold a jpg from digital artist Beeple for $69m – the third largest sum paid for a piece of art produced by a living artist. In June this year, another auction house, Sotherby’s sold a crypto punk for $11.7m. This is a pixelated image of a punk that was given away free of charge as part of an experiment on the Ethereum blockchain in 2017. This is an image you can locate on google images and right click on your mouse and save the same image to your computer The largest NFT marketplace, Open Sea, has seen an explosion is sales with over $3.4bn in August 2021 (compared to $6.2m the previous August).      There are some amazing numbers on the value of digital assets, and the growth is exceptional. So what’s going on why are we seeing this massive growth and adoption?Why NFTs matter (ownership can be easily identified; rights established, assets traded etc)Why does the art world (& media) love NFTs? Recurring royalty structures for NFTsWhy will brands like Taco Bell use NFTs? (Loyalty schemes)How will sectors like gaming be transformed by NFTs?How do I buy and sell NFTs? (Tim’s suggestions; Opensea, Metamask)Is DeFi a replacement of traditional banking?So what are NFT’s – in plain English? and why are they so important?in practical terms who will use NFT’s ? (publishers, influencers, sports clubs and brands already exploring them now )Tim’s indigenous art project; Walking Between Worlds    
FDATA and Yodlee are optimistic on Open Finance: “the right data, in the right hands, at the right time, can change the world!” Interview with: Jamie Leach, FDATA and Tonia Berglund, Envestnet YodleeKey Points discussed include:CDR is more than Open Banking – it’s open finance and open data – but what are the immediate opportunities, and what’s coming in the longer term? Listen to this podcast to learn more.According to FDATA and Yodlee, there are three winners from Open Banking: consumers, fintechs and banks.Banks forced to share data; but banks can embrace banking – they can use data too - also banks can develop new services.Banks have legacy systems but getting ready for Open Banking means better quality data within the bank; this increases efficiencies for the bank.Open Finance delivers some very basic outcomes – more transparency, more insights into pricing; is crucial for transferring someone from another bank (switching campaigns will boom) Analytics and Apps are both crucial for fintechs as they drive innovationMany Business cases still not proven – will take time to understand what works and what doesn’t.Plus, some way to go in terms of all banks sharing data: “we are two miles into the Marathon,” says Jamie Leach of FDATA. Jamie covers topic of cost and barriers to entry for fintechs - why is Australia 4 or 5 times the cost of UK to participate in the Open Data regime? (Note: UK doing 800 million API calls a month, and rate of growth is 100%+) Is the worry about security and consumer protection in Australia leading to higher costs?What are the issues for fintechs who want to switch from ‘screen scrapping’ to Open Banking Data?Discussion of consent; how consumers give consent to FSIs to use their data; How important is Privacy by Design and what does it mean?Discussion on Data Collaboration and Data Standards; this is a new area for tech and for the law; where are we at in Australia?Discussion on how FSIs/fintech use the data they collect – especially using Ai to understand both individuals and trends; how does Ai blend with Open Banking? Jamie Leach is the Regional Director in Australia and NZ for The Financial Data and Technology Association, a role that see’s Jamie work with government, regulatory authorities, and financial industry stakeholders to open up Australia’s and New Zealand's financial sector so all companies can benefit from the Consumer Data Right, also known as Open Banking.Jamie is also the Founder of Open Data Australia, Board Chair of tech start-up GridQube, sits on the International Advisory Committee for the University of Melbourne Centre for Spatial Data Infrastructures and Land Administration, and is an expert on e-KYC and Digital Identity for the UN and the World Bank.Tonia Berglund is Director of Product at Envestnet Yodlee. Tonia is responsible for heading up Open Banking in Australia and New Zealand, bringing together the global open banking strategy for US based aggregator and Wealth Tech Company Fintech, Envestnet I Yodlee.  Tonia has spent the last 18 years driving digital change as a senior leader in the Technology and Finance sectors, working in large and small organisations including CBA, Westpac and the Federal Government. She holds Post Graduate Degrees in Business and Technology and has been at the forefront of heading up transformation programs moving systems and processes online across business, wealth and retail divisions. 
Our guest on this episode is Bo Melin, Business Development Manager at DNX Solutions. Bo has 20 years experience of IT leadership roles, working in Sweden, US, Germany, Australia, Norway, and Thailand. Top competencies are Program and Project Management, QA, business and process analysis; Bo Combines deep technical knowledge with extensive business experience. Bo is a Professional trainer at IBM, and a number of Universities. He has experience across a broad range of industries: Banking, insurance, government, public utilities, Retail, Telecom – all impacted by CDR and Open banking.DNX Solutions is an Australian cloud-native focused company and an Amazon (AWS) Advanced Consulting Partner. DNX offer experienced cloud and data engineering consultants who can accelerate and transform a company’s cloud journey whether they are adopting, evolving, operating cloud solutions or modernising applications in a simple, reliable, and secure way.  In this episode we cover:Bo's background and experienceExplaining the DNX Solutions value proposition - “Democratise cloud technology”Who are DNX’s customers in fintech and financial services?What key issues does DNX solve for customers? Why do fintechs & FSIs work with DNX?Why “the cherry on the cake” is the open banking Key issues around Open Banking, especially compliance – and why DNX has launched Citadel by DNX Solutions. It’s a turn-key solution for business’s compliance needs; Citadel is a platform, which is fully compliant and fine-tuned for CDR, PCI, HIPAA, and SOC 2 standards.What’s the opportunity from CDR and Open Banking: what’s the opportunity for fintechs and banks?CDR – what’s the opportunity in the long term?  Our Partners:Australian FinTech, a news and information website covering everything you need to know in fintech in Australia and around the world, as well as a Directory of over 800 fintechs; Global data aggregator and Open Banking experts, Envestnet Yodlee. Envestnet | Yodlee has held an office in Australia for over a decade, is actively engaged with the ACCC and Open Banking and is compliant with the highest level of local and international infosec standards. Envestnet | Yodlee’s data solutions are used by some of the region’s most exciting and innovative companies, including 86 400, Xero and Finder.Envestnet | Yodlee are passionate about empowering financial service providers to use financial data and intelligence to better serve their customers, and the team have extensive knowledge on the topics of finance innovation, CDR, open banking, responsible lending, and data aggregation, account verification, and analytics.  
The FinTech Report Podcast: Interview with Ben Pfisterer, CEO & Co-Founder of Zeller “Business banking in a Box”: Strategy behind Zeller’s $81m Cap raise We welcome CEO and co-founder of Zeller, Ben Pfisterer, to the podcastJust last year, ex-head of APAC at Square, Ben, founded Zeller, an Australian integrated payments and financial services solution. The company recently announced a $50M fundraise, led by US VC firm Spark Capital, following its initial Series A funding round in March 2021. Zeller raised $81M in under 12 months, all before having a product on the market  — making it Australia’s most valuable pre-launch startup ever. Zeller’s product suite (Zeller Terminal, transaction account and MasterCard) launched in May, with early growth of 1,500 Australian businesses signing up in the first month and weekly payment volume growing 200% since launch. In this episode we discuss:Ben’s background, working at Jetstar, NAB, and recently, six years at Square…Background to Zeller – what makes Zeller different. Australian business banking is dominated by “the Big 4” and there is no innovation and many restrictive contracts.Three things companies all need; need to accept payments, they need to put the money somewhere, and then put the money to work – Zeller solves all three.Zeller call it “Business Banking in a Box” (terminal, account, Mastercard) (not an ADI or RADI, but will be at some stage)Zeller’s strategy is to take on the banks! With Australia’s fintech landscape booming, how are retailers benefiting from new competition against the big four banks? Zeller believes in transparency and is priced to appeal. Zeller offers businesses a startup package at $299, with no ongoing terminal rental fees etc, and 1.4% fee for payments.Zeller can sign up companies in minutes online (KYC, on boarding), tech built to be scalable and reliable. What makes Zeller different from the big four? Migration away from cash. We’ve seen a shift towards online payments during the pandemic; has it had an impact on in-person payments? How does Zeller think in-person payments will change post-pandemic?Zeller’s fundraising – some will go towards customer acquisition.Ben talks through his fundraising journey, his vision for the company and how the founding team has created a culture that was born in a lockdown/pandemic, his views on regulation and competition. Ben says Regulators need to help fintech startups with an ‘unfair advantage’ until they ‘get up on their feet’Our thanks to Australian FinTech News and Envestnet Yodlee for their support of The FinTech Report Podcast.
Srikanth Muthyala is the Founder and CEO of SHAVIK Ai – he is a CEO with a passion for Innovative & Futuristic solutions for FinTechs. SHAVIK Ai’s human first approach has led Srikanth and his team to design and deliver software solutions that are adaptive for people, fun and accessible, with a focus on creating financial tools for individuals and businesses.Srikanth is a Mentor and investor in FinTech start-up companies via the Melbourne Angels investor network.Visit SHAVIK AI here: episode discussed Regulation of Ai; listeners might be interested in reading how the European Union is looking at Ai regulation: EU Ai Regulation proposal: Topics discussed in this episode: What does SHAVIK AI do? (and What is AI to you?)What do you mean by “Humanised Ai”?What is the relevance of AI to Financial Services / FinTech industry? How to get started with Ai journey as company and as an individual?You are a Judge for Ai in FinTech category, what is your judging criteria?Do you think startups should think about using Ai? If so at what stage?What are the challenges to adopting Ai?What are the risks of Ai?What can we do encourage Ai in Finance industry?
The FinTech Report podcast is brought to you in Partnership with Australian FinTech, a news and information website covering everything you need to know in fintech in Australia and around the world, as well as a Directory of over 800 fintechs. Our thanks to the Australian FinTech team for supporting The FinTech Report – you can learn more at podcast is brought to you in Partnership with global data aggregator and Open Banking experts, Envestnet Yodlee. Envestnet Yodlee has held an office in Australia for over a decade, is actively engaged with the ACCC and Open Banking and is compliant with the highest level of local and international infosec standards. Envestnet Yodlee’s data solutions are used by some of the region’s most exciting and innovative companies, including 86 400, Xero and Finder. Envestnet Yodlee are passionate about empowering financial service providers to use financial data and intelligence to better serve their customers, and the team have extensive knowledge on the topics of finance innovation, CDR, open banking, responsible lending, and data aggregation, account verification, and analytics. Learn more at: two guests for this episode are; Dan Jovevski, the Founder & CEO at WeMoney; and Lauren Applegate, Director Customer Success and Marketing ANZ at Envestnet YodleeWeMoney’s mission is to empower people to take control of their financial story so that they can get onto the ladder and improve their life and money.WeMoney is a financial wellness platform that tracks all your money in one place. You can track your credit score, bills and recurring payments, understand your savings, debt and monitor your income through a complete toolset that can make your dollar and keep them in the black.By leveraging frontier behavioural science and artificial intelligence, WeMoney nudges and guides you towards better, informed and insightful financial choices and address the root causes of pitfalls of money management. Connect with a passionate community that connects you other likeminded people going through a similar journey.Lauren Applegate holds a Bachelor of Psychology and a Bachelor of Marketing and is a customer success and retention expert with deep experience in the financial industry.  As Envestnet | Yodlee’s ANZ Director of Customer Success and Marketing, Lauren’s role is centred around ensuring that her customers can innovate, succeed, and grow through the use of Envestnet | Yodlee’s best-in-market Data Aggregation, Account Verification, Data Enrichment, Financial Wellness, and Credit Accelerator tools.  With a background of executing marketing functions for online start-ups, as well as holding sales leadership roles within large Insurance providers, Lauren has a great mix of experience to assist everyone from small Fintech’s to large Financial Institutions with their growth strategies.In this episode we discuss:Why WeMoney? Dan shares his Founder storyWhat does WeMoney do? What does Envestnet Yodlee do for WeMoney?What is the benefit of having a data aggregator?What are the key issues Envestnet Yodlee solves for WeMoney & other customers?Explain Nudge Economics & Behavioural scienceHow do you measure results? What do you think of the fintech eco-system?
Damir Cuca is the founder and CEO of Basiq, an API platform providing the building blocks of financial services. Damir is a member of Australia’s Consumer Data Right Open Banking advisory committee and actively champions the importance of fintechs in an innovative and inclusive Open Banking ecosystem.Basiq is the one of the leading API platforms for businesses to build innovative financial solutions. Basiq’s developer-friendly platform provides secure access to customer financial data and the ability to uncover valuable insights. Backed by AP Ventures, Salesforce Ventures, Reinventure, NAB Ventures and Plaid, over 200 fintechs and banks rely on the Basiq platform to deliver solutions across lending, payments, wealth, and digital banking.Welcome Damir, thanks for being our guest on The FinTech Report PodcastIn this episode we discuss:Damir's background, and what led him to founding BasiqWhat does Basiq do? Who are Basiq's customers?The evolution of data – from data aggregation to Open BankingWhat is Open Banking? How does it work? What is the future for Open Banking? From open APIs for Info & big data, to paymentsWhat is Basiq business model? Fees, charges for providing accessViews on the Australian fintech ecosystem
Welcome to Episode 5 of The FinTech Report podcast.Tim Poskitt is Envestnet Yodlee’s Country Manager for Australia & New Zealand, and is responsible for the company’s local strategy and go-to-market efforts. Tim has worked in Europe, the United States, and APAC in the finance and FinTech sectors, and currently sits on three advisory boards as a fintech advisor: Archa, and Repute Digital.Tim is passionate about empowering financial service providers to use data and intelligence to better serve their customers, and has extensive knowledge on the topics of finance innovation, CDR, open banking, responsible lending, and data aggregation and analytics.Yodlee has held an office in Australia for over a decade, is actively engaged with the ACCC and Open Banking and is compliant with the highest level of local and international infosec standards. Yodlee’s data solutions are used by some of the region’s most exciting and innovative companies, including 86 400, Xero and Moneysoft.In this episode we discuss:Tim's background and  what led him to YodleeWhat does Yodlee do? What does data aggregator mean? Who are Yodlee's customers?The evolution of data – from Data Aggregator to Open BankingWhat is Open Banking? How does it work? What is the future for Open Banking?What’s the business model? Tim’s views on the Australian fintech ecosystem
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