Weekly Update 15/10/2023

Fintech Weekly update

For the Girl Boss

Transforming the Financial Landscape: Key Fintech Developments Across Australia

1. Stake's Proposed Acquisition of Selfwealth

Sydney-based fintech company Stake, known for its robust trading platform, recently announced its intention to acquire ASX-listed Selfwealth. However, in a surprising twist, the board of Selfwealth declined the proposal, stating that engaging in substantive discussions was not in the best interests of the company. This decision marks a significant moment in the Australian fintech landscape, showcasing the dynamic nature of industry consolidations and the strategic considerations involved.

2. Greener's Launch of "Greener for Business"

In a move to promote sustainability in business practices, Greener has unveiled "Greener for Business." This innovative feature offers step-by-step guidance for companies looking to take action on climate change. It covers vital areas such as energy usage, waste management, and eco-friendly shipping. Additionally, the platform provides access to exclusive offers from trusted suppliers, helping businesses save money while reducing their carbon footprint.

3. Blossom App's New Venture: "Blossom for Business"

Blossom App, a Sydney-based fintech startup, is set to disrupt the market with the launch of "Blossom for Business." This new service targets an impressive 5.70% return on business capital, offering a lucrative opportunity for companies looking to optimize their financial assets.

4. Cake Equity's RSU Management Tool

Gold Coast's Cake Equity is making waves with its latest innovation - a new tool for managing Restricted Stock Units (RSUs). This development is poised to simplify the complexities of stock-based compensation, providing a much-needed solution for businesses navigating this aspect of employee remuneration.

5. Credit Clear Limited's Brand Rejuvenation

ASX-listed Credit Clear Limited (ASX:CCR) has announced a rebranding initiative, signifying a strategic shift in its corporate identity. This move reflects the company's evolving position in the market and its commitment to staying relevant and competitive in the fast-paced fintech sector.

6. InvestorHub's Engagement Milestone

Melbourne's InvestorHub has achieved a remarkable feat, enabling public companies to engage with over 4,200 investors via its interactive investor hub. This platform facilitates a more dynamic and accessible investor relations approach, reflecting the growing importance of digital connectivity in the investment community.

7. Marketech and Bridgewise's Transformative Partnership

In Western Australia, the broking platform Marketech has forged a partnership with Bridgewise. This collaboration aims to revolutionize the trading experience, catering to a broad spectrum of investors from novices to seasoned professionals. This partnership underscores the industry's commitment to innovation and inclusivity.

8. Change Financial Welcomes Kat Grant

Change Financial, a player in the fintech arena, has announced the appointment of Kat Grant as Vice President of Marketing. This strategic hire signals the company's focus on strengthening its brand and expanding its market presence.

9. Tyro Payments' New Eftpos Terminal - "Tyro Pro"

Tyro Payments, a key fintech player, has unveiled its next-generation eftpos terminal, "Tyro Pro." This product launch represents a significant advancement in payment technology, offering enhanced features and functionalities to streamline financial transactions for businesses.

10. Highlights from the 10th Annual FinTech Summit 2023

The 10th Annual FinTech Summit 2023, held in Sydney, was a landmark event in the industry. Keynoted by Simon Beitz, it featured over 25 fintech panelists. The discussions spanned various critical topics, including funding, bank switching, and partnerships, offering deep insights into the current and future states of fintech.

In conclusion, these developments underscore the dynamic and innovative nature of Australia's fintech sector. From strategic acquisitions to technological advancements and sustainability initiatives, the landscape is rapidly evolving, shaping the future of finance in Australia and beyond.