Fintech

Fintech – Powering your Portfolio

The digital age is far from over, and whilst people were saying 5 years ago that technology is changing at the speed of light – it’s going even faster now. Every industry, every element of everyday life now presents an opportunity for technology to, ideally, assist us.

The finance sector is  no different, and in fact no stranger to technology. Banking applications, stock exchange platforms, credit card facilities – these have all been around for some time now.  But with the proliferation of mobile technology and the ability for multiple systems to talk to each other in  ‘Internet of Things (IOT)’ the number of innovations, applications and these opportunities for development have grown significantly. The sector in which these developments occur is known as Fintech – a portmanteau of Financial Technology of course.

We’re a fintech company ourselves, and it’s important for us that our customers and community understand what we do and why we do it.

Recommended Article: Top 100 Women in Fintech

The Australian Fintech Market:

Fintech in Australia is a fast moving industry experiencing huge growth and a very high adoption rates. There are a number of highly successful fintech businesses from Australia that are taking on the world.

The Australian Royal Commission has highlighted issues customers have with the big banks. Misconduct has been found across the financial advice sectors of the big 4 banks, on multiple levels for financial services provided to retail customers. New fintechs in Australia are ready for the opportunity to take advantage of this and help to give the customers the transparency they want.

With the demand for transparency products like WLTH will be able to assist advisors to be able to show clients exactly what they are doing to help their financial situation and empower consumers to have a greater understand on their financial situation.

Where Does WLTH fit in?

In todays day and age there are so many different platforms and apps for all your financial needs. It is not uncommon for people to have multiple bank accounts from a number of institutions, all of these requiring different logins for different internet banking accounts. This is the same with mortages, personal loans and credit cards. Through WLTH, users are able to load all their information into the platform with their internet banking logins and once they have signed in, their accounts with pull their live information from banking institutions in real time, being protected Yodlee’s bank level 256 bit encryption and their WLTH user name and password.

WLTH also allows the users to do this with live data feeds from a number of institutions to manage their share portfolios on the ASX, allows them to manage their Vehicle analytics through RedBook and property analytics through RP Data as well as super information for a vast number of superfunds.

When it comes to tax time WLTH comes into its own. Not only allowing you to auto categorise your spending thanks to the live data feeds from banking institutions, but it also allows you to add your team members.

By giving your accountant or financial advisor access to your account and selecting specific parts of your portfolio you would like to share with them, this will help make tax time as simple as possible. By giving your finance team access, they can also add in all your important documents for you some you will never be looking for agreements or additional information in a filing cabinet again!

WLTH will simplify your life and make managing your finances much easier for everyday Australians. WLTH is the first all encompassing digital portfolio manager that has been made available for every day Australians. We want to help Aussies get in control of their finances and help set them up for retirement.

Explore how WLTH can transform the way you manage your finances!

Fintech for Portfolio Management:

Managing a portfolio is not a simple task. While a number of people seek the assistance of an advisor, many don’t and even with an advisor it can be difficult to track you overall position because although you have an advisor for one asset it could be different for other areas on your portfolio.

WLTH was created to assist every day Australian’s to manage their finances and remove the need for tracking personal information on an excel spread sheet like so many people do or having an overflowing filing cabinet in the home office that is impossible to search through for documents when you need them.

While WLTH helps every day Australians, it is also a great tool for advisors to assist in managing clients. In the advisor space there is a lot of attention around Robo advice but we feel very strongly that there is not better solution than pairing new technology with human advice, especially when it comes to managing peoples money. Would you trust you money with a robot?

To start managing your portfolio with WLTH, download now:

What’s Next for Fintech:

With fintech adoption rates continuing to rise, more and more products will begin to flood the market. Being behind the rest of the world when it comes to Fintech, Australia has a long way to go.  Looking at the future of fintech in Australia it is very exciting. The new agreement between Australia and the UK will provide an avenue for established fintechs to make the move into the local market and provide alternatives for a number of Australians in a number of fields. Due to the position the Royal Commission has put Australians big  4 banks it the time is perfect for challenger/neo banks from overseas to make their mark

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