finder fintech roundup: Innovation in retail, government support and data

Posted: 24 February 2017 12:59 pm News

reading about fintech

The world of fintech continues to spin at a fast pace. Here's what happened this week.

There have been significant developments in nearly every area of fintech this week: payday loans, retail payments, VC investment and government support. Find out exactly what happened in this week's roundup.

Fintech payments company Openpay ups its tech with a new partnership

Openpay, an innovative interest-free payments provider, has further invested in its innovation by partnering with RainCheck. The partnership aims to solve the disconnect between online and offline shopping by helping the 88% of people who research online but purchase in-store.

Largest VC investment in fintech made

SME lender Prospa has received the largest VC investment to any Australian business. The fintech lender received $25 million in capital from AirTree Ventures and existing investors including Entrée Capital and Ironbridge Capital, while also reaching a $250 million milestone in loans funded.

Consumers remain at the centre of the open data debate

The fintech-centric debate over open data has again progressed this week following a roundtable discussion between 30 industry and government stakeholders. The roundtable hosted by the Victorian Government decided that consumer choice and empowerment should be at the centre of the open data debate.

Government supporting entrepreneurs with new app

Following the recent small business inquiry, which criticised banks' treatment of SMEs, the government has taken steps to support young entrepreneurs. The Australian Securities and Investments Commission (ASIC) has launched a new app, First Business, designed to support young Australians launching a business.

GPS tracking payday loans are a thing, but will they come to Australia?

A new microloan provider in India, CashE, is relying on tech to approve loans. The company reads call and message logs as well as installs GPS tracking on applicants' phones. We look at whether this type of technology could be introduced in Australia.

EY program supports innovative startups

The EY Asia-Pacific Accelerating Entrepreneurs program has announced the 24 innovative startups it will be flying to Rome for networking and mentorship opportunities. The program allows companies such as Internet of Light (IoL) to progress products, many of which are based on never-before-seen tech.

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

Picture: Shutterstock

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