finder fintech roundup: Crowdfunding, ETFs, Jacaranda Finance and bank branches
Sydney and Melbourne rank in the top 15 Global Financial Centres while we look at whether our mobiles are replacing bank branches.
The latest from the fintech sector in the past week.
Government moves forward with crowdfunding legislation
The Turnbull government has introduced a bill into parliament which will allow proprietary companies to take advantage of crowd-sourced equity funding. The move has been welcomed by the fintech sector.
First global robotics ETF launches in Australia
EFT Securities Australia has become the first Australian exchange traded fund (EFT) to give investors access to global robotics, automation and artificial intelligence. The fund has begun trading on the ASX under the name ROBO.
Sydney and Melbourne ranked in the top 15 global financial centres
Sydney and Melbourne have fared well in the bi-annual Global Financial Centres Index, with Sydney ranking 8th and Melbourne 13th. The Index measures the attractiveness of financial centres and considered 108 centres for this year's ranking.
Jacaranda Finance moves from small loans into big data
Short-term loans provider Jacaranda Finance has announced its move into big-data underwriting as well as into larger loan amounts with the launch of its Medium Amount Credit Contract loan. The lender says this signifies its move into being a diversified consumer-lending fintech.
Are our mobile phones replacing bank branches?
A new report shows that Australians have doubled their use of financial apps since 2014, raising the question of whether our smartphones are replacing traditional bank branches.
The finder fintech roundup is a summary of the news in fintech from the past week. Check back every Monday to catch up.