Australia Tax Treatment of Cryptocurrency in Australia - What to Know | FlashFX Investing in cryptocurrencies has tax implications for Australians. Here we outline the ATO's guidelines for people buying and selling digital assets.
Digital Currency How to Buy Cryptocurrency| FlashFX Buying cryptocurrency for the first time can be overwhelming. In this article we discuss how Australians can get started in cryptocurrency investing.
News FlashFX Welcomes Bankers’ Endorsement of Government-Backed Cryptocurrencies A government-endorsed digital Australian dollar has the potential to lead to increased trust and certainty, particularly to grow the digital currency marketplace.
Remittances The value of choice, control & transparency International money transfer services and banks around the world continue to trap consumers with opaque and overpriced exchange rates. For too long the foreign exchange industry has profited in the shadows. It has never served the remitters’ best interests to provide transparency to their customers. Like a puppet being manipulated
Technology Blockchain is not just for Bitcoin - it is a digital ledger of transactions Blockchain sounds like a solution to a 19th-century railway problem, but lately, it’s on the lips of every executive who wants to solve the problem of 21st-century digital transactions. Blockchain technology is a way of recording and storing digital transactions. It’s a distributed ledger that allows transactions from
Blockchain Embracing Blockchain for Payments Payments are one area where banks should completely embrace blockchain to compete with fintech challengers and to expand their market share. The existing payments infrastructure used by banks faces multiple challenges relating to security, speed and cost. No wonder, Santander Group executive chairman, Ana Botín believes that her bank’s
Australia Bank executive takes over as new chief of the Digital Transformation Agency Gavin Slater, former NAB executive, will be the new chief executive of the Australian government’s Digital Transformation Agency. In a statement the Assistant Minister for Digital Transformation Angus Taylor said Slater had a proven track record in driving transformation change to respond to digital disruption, and his experience would
Australia The quiet engine powering Australia’s innovation boom Not that long ago, building a global company was reserved for large incumbents and heavily capitalised start-ups. But that’s changing. Instead of needing millions in the bank or being based in the heart of Silicon Valley, the internet — and the tools it enables — are empowering a new generation of
International Money Transfers Take charge and save on your foreign exchange transfers Sending money overseas can be confusing. Let's break it down... FlashFX makes foreign exchange easy, fast and affordable. This is in stark contrast to the banks, where global payments cost more, take more time, and the routeing is opaque. > With FlashFX, users pick the date; pick the rate; send funds
Ripple Ripple Continues to Bring Internet of Value to Life When faced with the issues of today’s antiquated cross-border payment system, we often focus on the difficulties of scalability with banks struggling to handle the volume of transactions, causing it to take three to five days to complete. In a time where you can send a text message to
Australia New Payment Platform in Australia Australia is due to release a near real-time domestic payments platform. The New Payments Platform (NPP) [http://www.nppa.com.au] will allow for near real-time funds transfer between bank accounts, regardless of who a user banks with. It’s due to launch later in 2017. The NPP has been
Digital Currency The future of banking: four scenarios The fact that the financial services industry, and especially banking, is going through the greatest disruption since the arrival of computers in the 60s is now universally accepted. The advent of digital technology and, more importantly, its adoption by customers is changing the fundamentals of the business. This isn’t
Currency Conversion Fastest, most affordable currency transfers from Australia to Europe Australian startup FlashFX was designed from the ground up to outperform traditional financial institutions by providing fast, secure and very affordable foreign exchange conversion services as an alternative to the existing opaque, siloed and inefficient banking networks. And it does so without the hidden fees typically imposed by the banks.
Ripple Ripple Selected to Participate in the Bank of England FinTech Accelerator’s Exploration The Bank of England’s FinTech Accelerator announced that it is conducting a PoC with Ripple to demonstrate cross-border payments and settlement using two different Real Time Gross Settlement (RTGS) systems. The goal of this PoC is to showcase the synchronised movement of two different currencies across two different RTGS
Currency Conversion "...So easy to use compared to the banks" "Used FlashFX transfer yesterday. Money is in the Irish bank account this morning. It's so quick compared to the banks. Saved $136 compared to my bank. Awesome stuff. Love the GUI too, so easy to use compared to the banks." John C Sydney If you are looking for an easy
Australia Top 5 FinTech and Banking Trends for 2017 * FinTech competition will drive banking transformation. * Continued shift from in-branch to digital channels. * Customer service will be the most important differentiator for banks. Banks should especially be worried about the fact that 33% of millennials don’t believe they’ll need a bank in the next 5 years, and almost
Ripple Ripple Supports Efforts to Drive Thoughtful Regulation Innovation in banking often results from the convergence of three key domains: financial services, technology, and regulations. The regulatory framework is a crucial aspect of innovation. When crafted in a balanced, proactive way, regulations can directly drive positive innovation and market competition. This is why Ripple has been an active
Technology Building a Better Banking Customer Experience Analysts at leading firms agree that customer experience is the new battleground to differentiate and compete. After all, a “delightful” and frictionless customer experience yields increased customer satisfaction, loyalty, advocacy and customer lifetime value. One of the biggest CX trends in financial organisations around the world is digital transformation, which
Australia 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
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
Australia 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
Blockchain 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
Blockchain “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
Digital Currency Why can’t you track your money? The quality of lives has been tremendously improved by innovation from new technologies and business models. Its normal to check your mobile for the next bus arrival, book a hotel and track the parcel of your latest online acquisition. We enjoy it, we almost demand it for whatever service we
Exchange Rates 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
