finder fintech roundup: Chatbots, blockchain testing and venture funds going private

Posted: 14 October 2016 11:56 am News

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This week chatbots and blockchain were continuing to make headway, while a listed venture fund and fintech SME lender changed their course.

This was a busy week in Australian fintech. One of the big four banks built a distributed ledger platform for correspondent banking, which is in line with a blockchain report that showed where blockchain is now and where it's heading. Australia's first listed fintech venture fund has pulled its ASX float and an Australian SME lender is crossing borders to offer products in New Zealand.

ANZ and Wells Fargo test blockchain

Australia Big Four lender ANZ and US bank Wells Fargo have built and tested a distributed ledger platform for correspondent banking, which involves cross-border payment reconciliation and settlement. ANZ is the last of the Big Four to partner with an international provider to test blockchain's capabilities.

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Chatbots poised to disrupt fintech industry

Three chatbots startups, Plum, Chip and Cleo, have launched in London, contributing to the increasing interest and testing of Artificial Intelligence (AI). Each of the three chatbots, all focused on banking, work in different ways, with one relying on existing messaging applications such as Facebook, while another communicates via apps.

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H2 Ocean pulls its ASX float

Australia's first listed fintech investment fund has pulled its prospectus after failing to reach its capital raising target. The fund, started by H2 Ventures co-founders Ben and Tony Heap, will continue to raise as a private fund, with a new goal of between $25 and $30 million being set.

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Blockchain report shows where the technology is and might be going

International law firm Allens had released a report on distributed ledger technology blockchain. The report examines the current state of the technology, what institutions are testing it and the current and possible future use cases that could change the industries they're implemented in.

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Fintech SME lender GetCapital heads to New Zealand

Small business lender GetCapital has entered into a new partnership with Avanti Finance, allowing it to service New Zealand SMEs. The partnership will see GetCapital's technology and underwriting licensed as through a Lending as a Service (LaaS) model.

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The finder fintech roundup is a summary of the news in fintech from the past week. Check back every Friday to catch up.

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