This Month
From mortgages to mining copper, here’s how big companies are using AI
Flood and cyclone victims are just some of the people the country’s biggest businesses are helping with the use of artificial intelligence.
Superhero’s valuation climbs to $150m in wealth management push
The superannuation and advice platform is also hiring senior figures from State Street Global Advisers and Rest Super as part of its expansion plans.
May
Airwallex secures one of the country’s biggest funding rounds ever
The global payments group has raised $467 million from investors, who include all three of the country’s major venture capital firms.
Westpac has already cut jobs in these key divisions
A former Westpac staff member reveals where redundancies have already been made, while the union says it is “greatly concerned” about extra cuts.
Blackbird dealmakers salivate as $8.3b Airwallex fires up raising
Street Talk understands Blackbird has issued a capital call to limited partners for $60 million ahead of Airwallex’s Series F capital raising.
April
Australian fintech Demyst snapped up in $157m acquisition
Demyst, which counts ANZ, NAB and Standard Chartered among its clients, has been bought out by a private equity-backed Portuguese firm
PEP dealmaker throws weight behind shareholder transparency start-up
Complete shareholder registers have historically been the purview of internal investor relations departments.
March
Westpac plots $3b technology overhaul to slash long-term costs
The bank’s new chief executive, Anthony Miller, outlined plans to shrink the number of systems to cut expenses described by analysts as unsustainable.
CBA steps ups competition for AI engineers by opening Seattle office
The bank is deepening connections with Amazon Web Services and Microsoft, including putting IT teams together in a new US office.
ANZ quizzed over risks of new platform costing $1m a day
Analysts wondered how long it will take to fully migrate 6 million customers and another 1.2 million from Suncorp onto Maile Carnegie’s ANZ Plus.
February
Tyro’s profit lifts from health payments boom
ASX-listed payments stocks Tyro, Cuscal and EML reported interim results on Wednesday. All three rose on the market on stronger numbers.
The Zip v Afterpay buy now, pay later rivalry is back on
Zip says it is growing faster than its competitors in the world’s biggest market – the United States – after reporting record first-half earnings.
Tyro Payments keeps an ear out for suitors amid share price plunge
The eftpos terminal operator’s top brass is said to be open to takeover approaches – quelle surprise – and Macquarie Group’s banking business is seen as a potential suitor.
Money laundering watchdog puts 50 Australian crypto exchanges on notice
The Australian Securities and Transactions Analysis Centre is concerned some Australian cryptocurrency exchanges are failing to report suspicious transactions.
Superhero readies super administration business launch; raises capital
The fintech is raising $3 million at a $127.5 million valuation and has already met the minimum subscription amount, sources told Street Talk.
January
Travel fintech Mint Payments gears up for $20m secondary round
Perennial Value Management, Duncan Saville’s ICM Allectus Capital and Kelly Partners Investment Office may seek to part with their minority positions.
December 2024
ASIC’s attempts to clarify crypto rules confuses digital exchanges
Independent Reserve, BTC Markets and Kraken say new guidance and industry calls have not provided any clarity about whether they will need to obtain licences.
Short seller accuses Sezzle of ‘sketchy’ practices, low-quality loans
The buy now, pay later group delisted from the ASX earlier this year and has described the allegations as “misleading and out of context”.
IPO-candidate Pay.com.au launches raise to fund US expansion
Street Talk understands Pay.com.au is seeking to raise $15 million via a private placement at a $303 million pre-money equity valuation.
Bitcoin has broken through $US100,000. Now what?
This week on The Fin podcast, James Eyers on why Donald Trump is a crypto bro, whether prices will stay at record levels and how regulators are catching up.