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WEEK STARTING JUNE 17


Back again after a week off on leave! Hope you're hungry:

AUSTRALIAN FINTECH

Neobank 'Douugh' is going to float on the ASX. Douugh cleverly integrates with other banks / ADIs to save them having to apply for a banking license. It comes with the neobank bells and whistles - categorisation, savings targets and a virtual assistant to help manage your funds. More Douugh info here

Neobank 'Revolut' officially launched in Australia. The product is super polished and offers interbank fx rates when swapping currencies - incredibly valuable for regular travellers & those travelling for business. Interestingly, they are still operating in 'Beta' to make the most of the Govt's regulatory sandbox, allowing them to operate in Aus for 12 months without an AFSL. Only downside: a long waitlist (~16k). Awesome to see Int'l neobanks wanting to get a bite of the Aussie market (note: last week's article but wanted to loop in)

Worrying stat: Mortgage arrears are at an all time high since the GFC


BIG TECH

Facebook announced their cryptocurrency 'Libra', with 2020 as the launch date (why Libra not ZuckBucks?). My first reaction was "Why would I trust Facebook with my data, let alone finances?" but the reality is that Libra isn't targeted towards me - rather the 'unbanked' who cannot currently access a financial institution. Facebook mentioned that financial data wouldn't be used as a tool for advertising, and, with the gargantuan work of integrating Instagram, WhatsApp & Facebook's backend, it's going to be an instrument across all platforms. I see this more as a competitor for AliPay as opposed to traditional banks, and don't wholeheartedly agree with the headlines 'Facebook currency clearly a threat to big banks, finance sector' (willing to eat my words). More on the 'unbanked' play here

Google’s is investing 1 billion in housing in San Fran, in order to alleviate SF's lack of affordable housing

Analysis: A week with the UK's first 5G network: speed, coverage & more. Super interesting if you want a taste for what's coming up in Australia

POTPOURRI

Vaping company 'JUUL' is looking to come down under. Fun fact: Marlboro bought a 35% stake in JUUL for $12.8bn. No vape without fire?

Great read: China’s social credit rating is a bureaucratic mess

Nice drop: 6 cool startups from the Hunter Valley wine region

Qantas is changing its frequent flyer program. tl;dr - whole planes dedicated for rewards passengers, reduced points on some routes, lifetime platinum option


TRIVIA 
Answers at the end of the email

(a) Which company's 4-letter name is from Danish meaning "play well"; coincidentally, in Latin it means "I put together”?

(b) What biography of this 13th century man is subtitled "From Venice to Xanadu”?

(c) What are the 7 US states beginning with M?

JIMMY'S NOTES

Apologies for no edition last week - I was on leave to break up the year.

Welcome DiviPay to the Friends of the Inner Loop section! DiviPay is an awesome up and coming corporate expense management platform & co-founder Dan is a long time reader of the Loop. They had a great article pop up in the news a few weeks ago - check it out here

All the best
Jimmy
FRIENDS OF THE INNER LOOP

Reinventure Jobs
Open roles within the Reinventure portfolio. Maybe time for a change to FinTech?



DiviPay Jobs
DiviPay is an awesome up and coming corporate card & expense management platform. Co-founder Dan has been a long time reader / fan of the Loop! Check out the link for some of the roles they are looking for as they scale up.

 
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Trivia Answers 

(a) Lego

(b) Marco Polo

(c) Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri






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