WEEK STARTING AUGUST 19
AUSTRALIAN FINTECH AND STARTUPS
Zip Co acquired 'PartPay'
Experian acquired 'Look Who's Charging', a tool to identify and verify weird-looking transactions in your banking statement. See 'Cool FinTech of the Week' below for more
Wine startup 'Vinomofo' struck a deal with Uber Eats and Deliveroo for on-demand wine
Apple's going to be releasing new 'Pro' iPhones, with a focus upon camera capabilities
Google’s going to stop using dessert names for their Android operating system. They claim it is for worldwide accessibility reasons, or is it because they couldn’t think of a dessert beginning with Q?
Seed accelerator, YCombinator, had their popular demo day - check out the 82 startups that launched here (long, cracking read - complete with 'Epic Aerospace', a space company founded by a 21 year old)
Blog post: I Miss Microsoft Encarta. Fascinating read on information storage and retrieval via CD
4 Rules for Intuitive UX
COOL FINTECH OF THE WEEK
'Look Who's Charging' - a FinTech that allows you to better understand your banking statement data. It's super useful in the case that you see a transaction in your statement and have no idea what it means or where it came from (e.g. if the merchant is registered under a parent company, or a different trading name) - allowing you to click through and see more info about the transaction. The mobile-first platform enriches the transaction, providing geolocation, opening hours, ABN etc. Granted, some banking apps already do this (they allow you to click through and 'look up' the transaction) but they still involves a fair bit of friction. Experian's acquisition of them looks like more of an open banking / fraud play (e.g. connect bank account to verify that it was a legitimate transaction, reducing paper statement fraud). The categorisation play is also big here: one of the biggest challenges in transaction categorisation for personal finance management is mis-classified merchant names and / or merchant codes (e.g. if a Cafe owner registers their merchant facility as a 'Bar', your personal finance app is going to be out of whack). If Look Who's Charging provide a transaction-verification API, this would make it way easier for FinTechs to have to build this verification in-house. Neobanks love these services too, and can use categorisation to alert users for upcoming subscription payments, BNPL instalments, etc (Up is already doing this).
Answers at the end of the email
(a) Can you name a dessert beginning with the letter 'Q'?
(b) Which popular programming language was named after a British comedy that first aired on TV in the 1969?
(c) How many female Prime Ministers has New Zealand had?
(d) What were the 6 different coins used when the decimal system was first adopted in Australia?