Flash Forward

Thoughts about the future of finance and foreign currency transfer.

What you need to know about foreign currency transfers

By Tim Strube 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 right? But have you ever wondered what happens more »

Tagged in: digital currency, currency conversion, exchange rates, banking

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

$7 billion remittance industry set for massive shake-up

By Tim Strube on

The $7 billion Australian money remittance industry is set for a massive shake-up as a new wave of online and digital-based players enter the market. According to Ashley Jessen, CEO of Profile Booster, the retail money remittance industry is a more »

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

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

How much cash have you got in your wallet?

By Tim Strube on

Let me guess — your wallet is empty, or it recently was. Ten years ago, anyone who had no cash in their pocket would’ve whispered it. Broke til payday or just broke. Having no cash was a source of shame. more »

Tagged in: remittances, currency conversion, digital currency, finance, banking

Take charge of your foreign exchange transfers

By Tim Strube on

Sending money overseas via your bank is often confusing, always expensive and very slow. Now you can change that. Let's break it down... At FlashFX we make foreign exchange easy, fast and affordable: Based in Sydney Australia, we have engineered more »

Tagged in: remittances, currency conversion, digital currency, ripple, banking, exchange rates

Aussie dollar gain on French election result

By Tim Strube on

The Australian share market and dollar have been beneficiaries of Emmanuel Macron's victory in the first round of the French presidential election, as the centrist looks increasingly likely to win the run-off. The biggest initial beneficiary of the outcome was more »

Tagged in: currency conversion, finance, AUD, ripple, 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

Sterling up. Aussie down. Market update.

By Sophie Green on

The British pound was the big mover this week as the UK unexpectedly headed to the polls. Westpac's Sean Callow discusses how durable sterling's rally is likely to be. He also discusses the role of the RBA minutes in the more »

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

Banks to ditch sales incentives to ‘restore trust’

By Tim Strube on

THE toxic sales culture in Australian banks that sees customers saddled with inappropriate financial products may finally be coming to an end. Maybe. All four big banks have committed to winding back the “deep-seated” culture of product-based incentive payments after more »

Tagged in: finance, currency conversion, innovation, banking, ripple, buying property

ANZ, Westpac admit breaches in forex trading

By Tim Strube on

ANZ and Westpac have followed rivals and yielded to the corporate regulator’s investigation into banks’ foreign exchange businesses, agreeing to oversight and changes after traders shared confidential client information and traded to benefit themselves. Similarly to the CBA and more »

Tagged in: regulation, banking, global payments, digital currency, australia

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

Discussing Trends in Global Payments at the GCC Financial Forum

By Tim Strube on

Hundreds of international financiers, business leaders and policymakers from around the world gathered in Bahrain to discuss the future of financing at last week’s sixth annual GCC Financial Forum, writes Amy Hirth for Ripple Insights. Watch the video here. more »

Tagged in: global payments, banking, finance, currency conversion, ripple

Why now could be the right time to buy property in Spain

By Sophie Green on

UK-based relocation service MoveHub compared 2016 property price data from the Global Property Guide with average salaries according to the Hay’s Group Global Salary Forecast. In Spain, a 2.2 percent hike in salaries against a 5.75 drop more »

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

The first in a string of RBA rate hikes is coming sooner than you thought

By Tim Strube on

Goldman Sachs thinks it will be months — not years — until the RBA hikes rates. Andrew Boak and Bill Zhu from the Goldman Sachs Australian economics team think the RBA will lift the cash rate for the first time since 2011 more »

Tagged in: currency conversion, banking, finances, international money transfers, exchange rates

Japan: 47 Banks Complete Ripple Pilot

By Michael on

SBI Ripple Asia announced today that a consortium of 47 banks successfully completed a pilot implementation of Ripple in Japan using a cloud-based payments platform. This platform, RC Cloud, is powered by Ripple’s solution and is the first in more »

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

The real cost of money conversion

By Tim Strube on

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

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

Top 5 FinTech and Banking Trends for 2017

By Tim Strube on

* FinTech competition will drive banking transformation. * Continued shift from in-branch to digital channels. * Customer service will be the most important differentiator for banks. Banks should especially be worried about the fact that 33% of millennials don’t believe they’ll more »

Tagged in: australia, innovation, digital currency, banking, currency conversion, international money transfers

Australia weathers fintech slump

By Tim Strube on

Several major global and local players will gather in Sydney today for the annual AltFi conference, where ANZ Bank chief Shayne Elliott is also speaking. Ian Pollari, KPMG’s global co-leader of Fintech and head of banking for Australia, said more »

Tagged in: remittances, ripple, international money transfers, banking, currency conversion, international B2B

Building a Better Banking Customer Experience

By Tim Strube on

Analysts at leading firms agree that customer experience is the new battleground to differentiate and compete. After all, a “delightful” and frictionless customer experience yields increased customer satisfaction, loyalty, advocacy and customer lifetime value. One of the biggest CX trends more »

Tagged in: banking, currency conversion, technology, digital currency, innovation, international money transfers