Flash Payments (Page 9)

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Foreign currency transfers. The modern shell game.

International Money Transfers

Foreign currency transfers. The modern shell game.

Big institutions bouncing your money around the world like a pinball to multiple fee-charging banks using a complex and expensive relationship network – a desperate stand-in for an efficient transfer solution – all operating at your expense and hidden from your scrutiny by a global agreement to keep the system totally opaque

Can FinTech Outcompete Banks by Betting on User Experience?

Can FinTech Outcompete Banks by Betting on User Experience?

Bill Gates said that banking will always be needed. But banks as we know them could easily disappear. And FinTech is all about winning changes and everyday improvements. In 2015 venture capitalists raised $19.1 billion USD to support FinTech revolution. With the five biggest banks controlling nearly $15 trillion

Aussie dollar slump 'knee-jerk' reaction to Fed

Aussie dollar slump 'knee-jerk' reaction to Fed

Zac Crellin writes in the SMH "Strong hints by the US Federal Reserve that interest rates will rise at a faster pace in 2017 have sent the greenback flying against most major currencies but analysts doubt the Australian dollar will slide much further." "The Aussie dollar plunged

$582 billion in global remittances: interactive graph

$582 billion in global remittances: interactive graph

Remittances in 2015 totaled an estimated $582 billion according to World Bank figures. These cross-border payments make a huge impact in the countries that receive them. World Bank figures show that in 2015, remittances to Egypt were worth four times as much as revenues from the Suez Canal. In Nepal

Flash Payments Uses Ripple and XRP

Digital Currency

Flash Payments Uses Ripple and XRP

Ripple announces the launch of a brand new foreign exchange payments solution by Flash Payments to improve cross-border payments in Australia. Built on Ripple and using its digital currency XRP for liquidity, Flash Payments delivers transparency, near real-time settlement and transactional control to users, while cutting the cost of international

A cheaper way to pay

A cheaper way to pay

In today's Australian, Richard Gluyas writes - If ever there were a banking niche ripe for disruption, it would be cross-border payments. It almost defies comprehension that Amazon can deliver physical goods faster than a bank can make a credit entry. The reason is that remittances still meander

Foreign Currency Transfers: Everything You Need to Know

Foreign Currency Transfers: Everything You Need to Know

You set up a foreign currency transfer. The money leaves your account. It disappears for days. And then it turns up (significantly reduced) in the recipient's account. That's just how it works right?# But have you ever wondered what happens to your money in that in-between

The Australian writes: A great fintech border invasion

The Australian writes: A great fintech border invasion

Richard Gluyas writes about Flash Payments in The Australian: If ever there were a banking niche ripe for disruption, it would be cross-border payments. It almost defies comprehension that Amazon can deliver physical goods faster than a bank can make a credit entry. The reason, of course, is that remittances

Austrade’s Landing Pads make NSW startups go global

Austrade’s Landing Pads make NSW startups go global

The NSW Government, in collaboration with the Australian Trade and Investment Commission (Austrade), sponsored eight NSW based fintech and cyber start-ups to visit the Australian Landing Pad in Tel Aviv. Landing Pads are an Australian Government initiative intended to stimulate Australian innovation and entrepreneurship. The Landing Pads are in five

McKinsey: Corporates Need Faster Cross-Border Payments

Currency Conversion

McKinsey: Corporates Need Faster Cross-Border Payments

Corporate clients are becoming aware of recent innovations in payment platforms and seeking upgrades to their cross-border payments. Their low-cost, real-time domestic payments are contrasted with their experience of costly, days-long cross-border transactions. Bottom line: corporates expect better cross-border payments services, and according to McKinsey, 70 percent are willing to

The Future of Cross-Border Payments Now Live: Flash Payments

The Future of Cross-Border Payments Now Live: Flash Payments

Flash Payments has launched its highly anticipated lean high-performance foreign exchange transfer payment service that safely, efficiently and reliably provides users with a better customer experience compared to the opaque, siloed and inefficient banking networks. Built on a common global infrastructure and bringing new efficiencies to financial remittances, by enabling

Ripple vs the 600 year old correspondent banking system

Ripple vs the 600 year old correspondent banking system

Currently, cross-border payments go through the 600-year-old correspondent banking system, facilitated by SWIFT messages. This requires getting 6 players linked up – payer, payer’s bank, payer’s bank’s correspondent, beneficiary bank’s correspondent, beneficiary bank, oh - and beneficiary, of course. Cross-border payments are currently slow, expensive and opaque.

Flash Payments Goes Live

Flash Payments Goes Live

Flash Payments has launched its highly anticipated lean high-performance foreign exchange transfer payment service that safely, efficiently and reliably provides users with a better customer experience compared to the opaque, siloed and inefficient banking networks. Built on a common global infrastructure and bringing new efficiencies to financial remittances, by enabling

US Regulator Will Start Issuing Bank Charters for Fintech Firms

US Regulator Will Start Issuing Bank Charters for Fintech Firms

Office of the Comptroller of the Currency will allow upstarts to become ‘special purpose national banks’ Firms offering online loans, smartphone payments and other financial technology products would get new flexibility to expand and further shake up the U.S. banking industry under a proposed new federal policy. A top

Blockchain technology: Is the banking sector ready for FinTech?

Blockchain technology: Is the banking sector ready for FinTech?

This first in a series of articles debating how fintech is shaping the financial services industry, covers the path to production for blockchains in UK banks, setting out where we are currently at, before exploring some of the high-level challenges faced by the banks. To understand the intricacies at play

What Treasurers Should Know: Fintech Disruption

What Treasurers Should Know: Fintech Disruption

The shape of treasury management is changing with the rise of disruptive technologies, like blockchain, real-time payments and Big Data. To inform corporate treasurers of the changing landscape, the banks, SAP and the European Association of Corporate Treasurers (EACT) have published the first “Journeys to Treasury” report, which they intend

Migrants sent over $500 billion home last year.

Migrants sent over $500 billion home last year.

There are now 244 million people living in a country other than the one they were born in, according to migration figures from the United Nations. Many of those people went overseas to find work, leaving their families behind. For a growing number of families, the money their relatives send

KPMG: Future Bright for Next-Generation Payment Solutions

KPMG: Future Bright for Next-Generation Payment Solutions

Professional services giant KPMG and venture capitalist database CB Insights published “The Pulse of Fintech,” a report looking back over the biggest moments in Q3 of 2016. The focus is on trends and highlights in fintech funding during this action-packed period. The report also makes the point out that Ripple

How traditional banks should invest in and benefit from fintech startups

How traditional banks should invest in and benefit from fintech startups

The proliferating array of fintech startups is putting pressure on financial services incumbents because these disruptors are providing innovative, consumer-oriented solutions. Their solutions “unbundle” the traditional architecture of financial products and services offered by existing institutions, and instead target specific services (e.g., payments, wealth management, personal loans) to the

Why would you invest in fintech?

Why would you invest in fintech?

Grant Halverson, chief executive of McLean Roche Consulting and a former financial services multinational CEO and financial technology CEO writes in ANZ's Blue Notes Blog It’s now nine years since ‘fintech’, the buzz term for financial technology start-ups, entered the lexicon and threatened to upend banking as

Fintech attractive to the financial sector

Fintech attractive to the financial sector

Brexit may have dampened appetite for full-scale M&As but fintech's ability to cut costs is a boon in the face of Brexit uncertainty. The appetite for fintech investment by financial services companies looks set to continue over the next three years despite concerns about Brexit, according

Banks behaving badly are losing trust

Banks behaving badly are losing trust

Banks behaving badly are back in the headlines. Yesterday, the ACCC filed action against Macquarie and ANZ for attempted cartel behaviour on the foreign exchange market in Singapore. Australia's number one investment bank Macquarie Group and top corporate lender Australia and New Zealand Banking Group (ANZ) said they

10 Travel Tips for Students Who Have Never Studied Abroad

10 Travel Tips for Students Who Have Never Studied Abroad

Deciding to partake in this journey is half the battle, one you have already won. In case you are starting to feel pre-departure jitters, here are some tips to help calm your nerves and have a grasp on your adventure ahead. a. Research where you’re going b. Talk to

What the average bank does not want you to know about foreign exchange

What the average bank does not want you to know about foreign exchange

Welcome to Big Bank FX money transfers. Learn about the ugly truth when sending money overseas... and what you can do about it. Now there is a much better way to send exchange and send international transfers. In the meantime, when it comes to transferring funds internationally, Flash Payments is

Cashing out: Sweden could be the first country to issue 'digital currency'

Digital Currency

Cashing out: Sweden could be the first country to issue 'digital currency'

Swedish central bank Riksbank is exploring the idea of a 'digital currency'. The system could save tourists a trip to the currency exchange desk. Sweden is seeing a huge decline in the use of traditional notes and coins. Read the full story in The Daily Mail. Changing money