WEEK STARTING 29 JUN
NEW FINTECH OF THE WEEK
'Zeller' - a company looking to reinvent business banking. Zeller provides a set of products and services to help small businesses get up and running, such as an eftpos terminal, a linked debit card and business accounts to manage their money. Zeller was founded by two ex-Square execs and recently raised a $6.3m seed round from Square Peg capital. I can see them being competitors to Tyro and the Square terminal (which makes sense given their background). Slick website and proposition!
AUSTRALIAN FINTECH & STARTUPS
It's Open Banking week, meaning that Open Banking has officially launched in Australia! The Consumer Data Right (CDR) is the first implementation of Open Banking, which gives you the right to share your data between service provider e.g. share your banking data with a new bank to get a new / better offer (switching) or sharing your banking data with another app to help manage your finances (personal finance management). Currently, there are two accredited recipients of the Consumer Data Right (CDR) - Frollo and Regional Australia Bank (latter are partnered with Douugh). I highly recommend giving personal finance manager 'Frollo' a go if you want to understand (a) a use case of open banking (b) a data consent flow (c) an awesome UX. There will be a heap more exciting use cases to come. Link
Awesome resource: Stone and Chalk's capital raising guide. Link
New Podcast: "Bank of the Future" - documenting the Australian banking and Payments landscape. First cab of the rank is Dominic Pym, co-founder of Up. Nice. Link
Wirecard files for insolvency following the missing 1.9bn Euro. Link
The Financial Times also provided a fantastic timeline of the Wirecard fallout (they've been doing investigative journalism on Wirecard malpractice for a long time now). Link & Video
Over 400 brands (including Microsoft, Starbucks and Coca-Cola) are taking down their Facebook and Instagram ads as part of the 'Stop Hate for Profit' campaign, launched after the death of George Floyd. Skeptics argue that these companies were cutting ad spend anyway in the face of Corona, and that this is a convenient way out. Link
We are 50% of the way through the year. Link
Westpac won the 'Shiraz and wagyu' case against ASIC. Link
The City of Sydney's advertising on billboards & bus stops are going to get completely overhauled, with JCDecaux losing the contract to QMS to replace Sydney's 'street furniture'. Link
Sacha Baren Cohen infiltrated a far-right event in Olympia, Washington. Booyakasha! Link
Answers at the end of the email.
(a) Name four countries that begin with the letter U, that do NOT include the word “United”?
(b) What country has the greatest range from lowest elevation to highest elevation?
(c) What is on the flag of Antarctica?
(d) What three letter word can be put before all of the following words to create new words? Charge, crete, ease, guise, placement, pose, sect, sing, and tract.
(e) I'll give you the definitions of five words. All contain the same four letters in the same order somewhere in the word. Name the words. Farm animals regarded as an asset, an organ in the digestive system, a musical based on a Dickens novel, a small & narrow portion, and to take something to someone. (Looking for the five words, not just the four letters in common.)
(f) Which country’s national flag has a total of 27 stars?