Thursday, August 18, 2022

Investor confidence plummets amid market uncertainity, finds CA ANZ

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A new survey shows investor confidence in local and international capital markets is now lower than it was at the depth of the COVID-19 pandemic. Plunges in the sharemarket, ongoing global political unrest, inflationary challenges and associated broader economic uncertainty all led to the concerning results in the survey conducted from 10-15 June 2022.

Mortgage holders may need to think twice before fixing their interest rates

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Mortgage holders considering fixing their home loan interest rate at the current rates on offer may need to think twice before doing so. The current fixed rate offerings are often significantly higher than variable home loan rates. She said this meant that some borrowers may lose out over the long-term if rates didn’t peak above their fixed rate mortgages.

Fintech oriented private equity firm Motive Partners raises $2.5 billion

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Motive Partners (Motive), a private equity firm focused on financial tech, announced the successful final close of its second flagship fund, Motive Capital Fund 2 (the Fund), with total capital commitments of $2.54 billion for the Fund and its affiliated co-investment vehicles.

Improved access to financial planning benefits low income class, finds study

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The high cost of financial planning services in Australia is preventing lower socio-economic groups from accessing advice that could greatly improve their financial security – particularly in retirement according to a new University of South Australia (UniSA) research shows.

Compare Club appoints insurance and banking expert Eayl Machlis

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Personal finance marketplace Compare Club announced Eayl Machlis as its new General Manager of General Insurance and Banking. With over 20 years’ combined corporate and entrepreneurial experience, Machlis is an expert in insurance and banking. He will spearhead Compare Club’s scaling of its key insurance verticals and its credit cards vertical, focusing on extending and broadening the range of credit cards available within the Compare Club space. 

Nominations open for the 12th BAI 2022 Global Innovation Awards

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For the 12th year, BAI, a nonprofit firm that delivers the financial services industry’s most actionable insights, celebrates innovative achievements in the financial services industry with the annual BAI Global Innovation Awards. The awards honor the global leaders and firms who pursue bold solutions for leveraging customer insights; implementing new powerful technologies; or improving the lives of employees, customers, clients and/or communities.

Earlypay industry training program attracts record number of applicants

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The launch of Earlypay’s Business Finance and Lending Training and Development Scholarship Program has attracted significant interest from finance professionals across the country prompting Earlypay to announce an increase in course participation numbers.

Fast-growing fintech Scalapay funds new UOW engineering scholarship

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Local entrepreneurs call it Siligong Valley – and they are definitely onto something. With its high-speed communications, world-class university and close proximity to Sydney, Wollongong is the ideal location for businesses looking for access to highly-skilled staff. 

Finance industry executives dissect implications of RBA cash rate hike

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Australia’s central bank on raised interest rates for a third straight month as it struggles to contain surging inflation, risking an economic downturn. Wrapping up its July policy meeting, the Reserve Bank of Australia (RBA) lifted its cash rate by 50 basis points to 1.35%, a 125 basis points of hikes since May 2022. Industry leaders offer insights on the central bank's move and how it is to shape the course of business for various industries going forward.

New-age insurtech startup upcover raises 4.7 million in seed funding

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upcover announced it has secured $2.7 million equity and $2m debt in a $4.7m seed round. With backing from industry heavyweights, the trailblazing insurtech startup is simplifying, digitising and democratising a heavily regulated industry that has been stagnant for years.