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Tim Strube

Next Generation of Banknotes: $10 Design Reveal

Next Generation of Banknotes: $10 Design Reveal

The Reserve Bank has revealed the design of the new $10 banknote that will be issued into circulation from September 2017. The images show the basic design artwork on each side of the banknote. The Governor, Philip Lowe, said:‘The $10 banknote celebrates two famous Australian writers, Dame Mary Gilmore

What is FinTech?

What is FinTech?

According to Morningstar [http://www.morningstar.com] "FinTech companies are businesses that leverage new technology to create new and better financial services for both consumers and businesses. It includes companies of all kinds that may operate in personal financial management, insurance, payment, asset management, etc..." These start-up companies compete directly

17 things you (probably) didn't know about UK currency

17 things you (probably) didn't know about UK currency

Moolah, cash, bunce, wonga and all the rest. Sadly, despite Des’ree’s protestations, money really does make the world go round; we all need it, and we’d all like rather more of it. Enjoy 16 facts about the British currency and one somewhat dubious one [http://www.shortlist.

The Australian dollar - where to next?

The Australian dollar - where to next?

The Australian dollar has seen an impressively strong period for the past 2 months, trading from 0.7164 in late December to the current 0.7664 USD per AUD. According to analysts at HSBC, US President Trump has been a key factor behind recent US dollar weakness. They warn that

Commonwealth Bank to report record profits this week

Commonwealth Bank to report record profits this week

Commonwealth Bank of Australia, the nation’s largest lender, is expected to report an all-time high half yearly cash profit of $4.83 billion this week according to The Business Insider Australia [(http://www.businessinsider.com.au/commonwealth-bank-may-report-another-record-high-profit-heres-what-to-watch-out-for-2017-2)] . This makes them among the most profitable banks in the world, by

Lessons From Bank of Canada's First Blockchain Project

Lessons From Bank of Canada's First Blockchain Project

Carolyn Wilkins, the senior deputy governor of the Bank of Canada, where she oversees the central bank's strategic planning and economic and financial research, looks back on key takeaways from nearly six months of distributed ledger learnings. She writes "It's not surprising that central banks have developed a keen interest

President Trump could be good for the economy, says Reserve Bank governor Philip Lowe

President Trump could be good for the economy, says Reserve Bank governor Philip Lowe

Reserve Bank governor Philip Lowe has predicted some of the Trump administration's economic policies could be good for Australia and the global economy while warning it could also turn out "very badly" if America retreats from the international order of the world. "It's very difficult to predict how the new

From Bronze Chunks to Imperial Currency: A Brief History of Roman Coins

From Bronze Chunks to Imperial Currency: A Brief History of Roman Coins

Before Rome minted coins, sheep and pieces of rough bronze were the dominant currencies, both being abundant local resources. Throughout the duration of Ancient Roman civilisation, currency was mostly based on coins of precious and semi-precious metals, namely gold, silver, bronze and copper. Coinage began during the Republic with the

European Central Bank to Trump: 'We Are Not Currency Manipulators'

European Central Bank to Trump: 'We Are Not Currency Manipulators'

The European Central Bank rejected U.S. accusations of currency manipulation on Monday and warned that deregulating the banking industry, now being openly discussed in Washington, could sow the seeds of the next financial crisis. ECB President Mario Draghi said the idea of easing bank rules was not just worrying

Foreign Exchange and The Big Mac index

Foreign Exchange and The Big Mac index

THE Big Mac index was invented by The Economist in 1986 as a lighthearted guide to whether currencies are at their “correct” level. It is based on the theory of purchasing-power parity (PPP), the notion that in the long run exchange rates should move towards the rate that would equalise

US Dollar suffers worst January in 30 years

US Dollar suffers worst January in 30 years

The US dollar posted its worst January in three decades after US President Donald Trump and his trade adviser accused Germany, China and Japan of exploiting currencies to gain a trade advantage over the US. The Trump administration’s willingness to break with tradition and comment about currency valuations has

24 things expats find surprising about Australian working culture

24 things expats find surprising about Australian working culture

Australians have a unique set of business etiquette rules in comparison to other business cultures. To mark Australia Day, Business Insider Australia took a look at what expats living in Australia, or returning expats, think of the Australian working culture. For example, we don’t mind the use of profanity

Do Big Corporations Still Need Banks?

Do Big Corporations Still Need Banks?

The Wall Street Journal recently reported that Ant Financial, an affiliate of Alibaba, is involved in a deal to buy U.S. money-transfer business MoneyGram. This news comes just two days after TechCrunch reported that Airbnb is in talks to acquire Tilt, a payments startup that helps groups of people

The best way to send an international money transfer [per FlashFX]

International Money Transfers

The best way to send an international money transfer [per FlashFX]

Have you ever wondered how to best send money internationally? Two principal options have been available for some time and a third has just arrived. > Your bank. This is the most common and the most expensive way to send your hard-earned cash overseas. It also takes the longest. And while

Build a wall, damage the US dollar?

Build a wall, damage the US dollar?

Paul Donovan, Global Chief Economist at UBS Wealth Management asks "The Mexican wall is to be built. The Dow hit 20,000 in an indulgence of exuberance at the thought, yet the US dollar softened immediately after the announcement. Why?" "The wall is a positive for profits in key parts

Aussie banks the world’s most profitable – thanks to you

Aussie banks the world’s most profitable – thanks to you

Reserve Bank of Australia (RBA) confirmed in 2016 that the big four are the most profitable banks in the world. Analysis by the RBA shows that, in terms of return on equity (ROE), the big four banks averaged about 15 per cent by the end of 2015, ahead of Canada’

“It’s Time for Blockchain Use Cases to Be Proven and Come to Market”

“It’s Time for Blockchain Use Cases to Be Proven and Come to Market”

While 2016 was the year of firms and governments experimenting with blockchain technology, 2017 should be the year we see use cases being proven and actually coming to market, according to Abdul Naushad, chairman and founder of PayCommerce. "So much venture capital money has been pumped into the market that

SWIFT strikes back and proves its own obsolescence

SWIFT strikes back and proves its own obsolescence

When SWIFT first announced its Global Payments Initiative (GPI), Ripple took the opportunity to highlight the ways SWIFT has failed to innovate, and how proposed changes to their messaging system do not meet the growing demands for global payments. The banking world took notice, powering Ripple’s momentum as we

How to send money overseas, without regret and unexpected costs

International Money Transfers

How to send money overseas, without regret and unexpected costs

whether you are an expat sending money home, whether you are a student paying overseas tuition, whether you are paying overseas invoices, if you are using a bank, you are leaving money on the table. A lot of money. It’s not your fault. An antiquated system of banks and

Apple App Store prices expected to rise significantly in India, Turkey and the UK

Apple App Store prices expected to rise significantly in India, Turkey and the UK

Apple is expected to increase its App Store prices for apps and in-app purchases by more than 25% in the UK in the next week as a result of the post-Brexit currency fall in the pound according to 9to5Mac reports [http://stfi.re/dpoxznj] . Apple App Store prices in India

Moving to Canada in search of a new future?

Moving to Canada in search of a new future?

There is a lot to take into consideration when deciding to move to another country, and Canada is no different. In spite of the many similarities, moving to Canada is still a significant undertaking, and not just because of the long winters. Whether you are moving for work, to study

Foreign Currency Transfers - the great deception - and how to beat it

Foreign Currency Transfers - the great deception - and how to beat it

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

A Framework for FinTech: The Whitehouse

A Framework for FinTech: The Whitehouse

At the White House FinTech Summit in June 2016, Cabinet Secretaries and senior officials from across the Administration engaged with stakeholders about the potential for fintech to further myriad policy goals, including small business access to capital, financial inclusion and health, domestic growth, and international development. At the same event,

We already love mobile banking, so how can it get better?

We already love mobile banking, so how can it get better?

Australians love to moan about banks, but it turns out we're actually fairly content with the current approach to mobile banking. The chart below shows the percentage of customers who are either very satisfied or fairly satisfied with mobile banking apps for the 10 biggest banks, according to Roy Morgan

Business chiefs more cautious in 2017: Ai Group

Business chiefs more cautious in 2017: Ai Group

Fresh from a year that delivered major political shocks and proved tougher than expected, Australian business leaders are taking a cautious approach to 2017. Fewer chief executives expect to see business conditions improve than a year ago, though there are more forecasting a stable environment, according to the latest CEO