Flash Forward

Thoughts about the future of finance and foreign currency transfer.

FlashFX Welcomes Bankers’ Endorsement of Government-Backed Cryptocurrencies

By Nicolas Steiger on

A government-endorsed digital Australian dollar has the potential to lead to increased trust and certainty, particularly to grow the digital currency marketplace. more »

Tagged in: digital curency, innovation, ripple

How to get the best rate with our Exchange Rate Calculator

By Nicolas Steiger on

We take a closer look at how to find and read currency exchange rates, as well as how to convert currency using an exchange rate calculator. more »

Tagged in: currency conversion, sending money overseas, remittances, tips, exchange rates

3 steps to getting the best currency exchange rates

By Nicolas Steiger on

To be sure you are getting the best currency exchange rates, you must know what the current real market foreign exchange rate is and whether any upfront or transaction fees are applied to your transfer, including fees applied by the more »

Tagged in: exchange rates, currency conversion, digital currency

The value of choice, control & transparency

By Nicolas Steiger on

International money transfer services and banks around the world continue to trap consumers with opaque and overpriced exchange rates. For too long the foreign exchange industry has profited in the shadows. It has never served the remitters’ best interests to more »

Tagged in: currency conversion, digital currency, global payments, international money transfers

Big banks = high cost international transfers

By Nicolas Steiger on

Do you need to transfer money abroad? Well, you should probably give the traditional Australian banks a miss. Comparing their offerings reveals that the ‘Big Four’ banks charge far heftier international money transfer fees than online providers – and could cost more »

Tagged in: global payments, remittances, currency conversion, banking, international money transfers

Ten New Customers Join Ripple’s Global Payment Network

By Nicolas Steiger on

Ripple announced the addition of 10 new customers to their growing global network. Among them some of the world’s largest banks, innovative smaller banks, and payment service providers (PSPs). As the only blockchain provider that has real use cases more »

Tagged in: ripple, currency conversion, digital currency, global payments, innovation, banking

"...so easy to use compared to the banks"

By Nicolas Steiger on

"I Used FlashFX transfer yesterday. Money is in the Irish bank account this morning. It's so quick compared to the banks. Saved $136 compared to my bank. Awesome stuff. Love the GUI too, so easy to use compared to more »

Tagged in: remittances, currency conversion, digital currency, global payments, banking, ripple

Embracing Blockchain for Payments

By Nicolas Steiger on

Payments are one area where banks should completely embrace blockchain to compete with fintech challengers and to expand their market share. The existing payments infrastructure used by banks faces multiple challenges relating to security, speed and cost. No wonder, Santander more »

Tagged in: digital currency, ripple, innovation, technology, blockchain, australia

ASIC enforcement taskforce recommends tightening bank rules to protect customers

By Nicolas Steiger on

Banks, financial services houses and credit companies will face public naming and shaming over bad behaviour in a suite of major reforms being considered by the Turnbull government. However, the reforms put forward by the Australian Securities and Investments Commission more »

Tagged in: finance, regulation, digital currency, australia

Fintech all talk no action in bank competition race

By Nicolas Steiger on

Australia's banking sector is one of the most highly concentrated in the world and the much-hyped arrival of digital disruption has hardly shifted the dial. More competition is not the solution to the housing affordability crisis, but there is no more »

Tagged in: digital currency, innovation, technology, ripple, finance, international money transfers

ASIC’s Greg Medcraft lashes bank ‘oligopoly’

By Nicolas Steiger on

Chairman of the corporate watchdog Greg Medcraft lashed out at the banking “oligopoly” for chipping away at customer trust with sector-wide interest rate hikes out-of-cycle with the Reserve Bank of Australia. “I think every time you do an out-of-cycle increase more »

Tagged in: finance, regulation, australia, international money transfers, currency conversion, compliance

The quiet engine powering Australia’s innovation boom

By Nicolas Steiger on

Not that long ago, building a global company was reserved for large incumbents and heavily capitalised start-ups. But that’s changing. Instead of needing millions in the bank or being based in the heart of Silicon Valley, the internet — and more »

Tagged in: digital currency, ripple, innovation, technology, blockchain, australia

The Real Cost of Foreign Exchange Conversions - What the banks don't want you to know.

By Nicolas Steiger on

Do you know what the actual foreign exchange conversion rate is? You probably know the conversion rate your bank is charging you, but did you know there is another "higher" rate known as the market rate? In fact, more »

Tagged in: currency conversion, exchange rates, global payments, regulation, digital currency, international money transfers

New Payment Platform in Australia

By Nicolas Steiger on

Australia is due to release a near real-time domestic payments platform. The New Payments Platform (NPP) will allow for near real-time funds transfer between bank accounts, regardless of who a user banks with. It’s due to launch later in more »

Tagged in: digital currency, ripple, technology, innovation, blockchain, international money transfers

The Australian dollar rallied back to the highs after FOMC

By Nicolas Steiger on

The Australian dollar surged back above the 0.7700 level on Thursday morning, propelled higher by renewed US dollar weakness after yesterday’s US Federal Reserve lifting interest rate by 25 basis points. The gain in the AUD/USD was more »

Tagged in: AUD, exchange rates, finance, australia, international money transfers, currency conversion

Everything you need to know about foreign currency transfers

By Nicolas Steiger on

You set up a foreign currency transfer. The money leaves your account. It disappears for days. And then it turns up (significantly reduced) in the recipient's account. That's just how it works! And the banks really don't need you to more »

Tagged in: global payments, digital currency, banking, currency conversion, tips, sending money overseas

US rate hike at next meeting "would likely be appropriate" if data is good enough, Fed's Yellen

By Nicolas Steiger on

The Australian dollar finished lower the last week, breaking sharply on rising expectations for a U.S. interest rate hike at the Fed’s next meeting on March 15. Strong U.S. economic reports and continued hawkish remarks from U. more »

Tagged in: remittances, currency conversion, exchange rates, australia, global payments, exports

Increased AUD buying power on EUR transfers with Eurozone Greek debt worries re-appearing

By Nicolas Steiger on

Since the start of the new year, the Australian Dollar increased by about 5.8% in value compared to the EURO, lingering in the mid 0.72s, as fears that Greece will be forced to crash out of the Eurozone more »

Tagged in: global payments, currency conversion, exchange rates, AUD, europe, overseas finance

Send money and track it like a parcel, what does that mean?

By Nicolas Steiger on

The world of foreign currency payments for retail clients has not seen much innovation & change in the past years. Most people who wish to send money overseas to their family, friends or for simple investment purpose are still at more »

Tagged in: currency conversion, sending money overseas, ripple, technology, international money transfers, digital currency

Why can’t you track your money?

By Nicolas Steiger on

The quality of lives has been tremendously improved by innovation from new technologies and business models. Its normal to check your mobile for the next bus arrival, book a hotel and track the parcel of your latest online acquisition. We more »

Tagged in: technology, innovation, digital currency, blockchain, international money transfers