MONEY TALKS

Whether you’re BUY­ING a hand­bag or part of a house, these FIN­TECHS want CUS­TOMERS to have a richer EX­PE­RI­ENCE.

Collective Hub - - CONTENTS - WORDS SARAH MEGGINSON

we speak to fin­techs like After­pay, Brickx and Tic:Toc about how they’re mak­ing a liv­ing by sav­ing cus­tomers money

Mov­ing house, getting a root canal, host­ing long-lost rel­a­tives in your home for weeks on end – these are just a few of many peo­ple’s least favourite things to do. An­other angst-caus­ing task at the top of the list is getting a loan. The pa­per­work, the fil­ing, the driv­ing half­way across town to find a jus­tice of the peace to wit­ness your sig­na­ture – it’s all such a headache.

A re­cent KPMG re­port of mil­len­ni­als, which ex­am­ined their num­ber-one pet peeve of bank­ing, found they de­sire their “day-to-day trans­ac­tions to be seam­less and ef­fort­less”. Seam­less and ef­fort­less – it’s our gen­er­a­tion’s catchcry, and it’s one that fi­nance dis­rup­tors are pay­ing se­ri­ous at­ten­tion to. Fi­nance was once con­sid­ered a tough in­dus­try to dis­rupt – im­pos­si­bly big, highly reg­u­lated and de­cid­edly tra­di­tional. To­day, money is prov­ing ripe for in­no­va­tion, as start-ups de­mys­tify fi­nance, and bring us one step closer to life ad­min utopia.

So, who’s chang­ing the rules? We meet three fin­techs with money on their mind.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.