Flash Forward

Thoughts about the future of finance and foreign currency transfer.

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

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

Take charge and save on your foreign exchange transfers

By Tim Strube on

Sending money overseas can be confusing. Let's break it down... FlashFX makes foreign exchange easy, fast and affordable. This is in stark contrast to the banks, where global payments cost more, take more time, and the routeing is opaque. With more »

Tagged in: remittances, exchange rates, international money transfers, digital currency, sending money overseas

When it comes to foreign exchange, don’t pick your own bank by default

By Sophie Green on

In this ever-changing world, Australian retail clients remain creatures of habit. While most of us know that banks like to charge a fee at every turn, we still don’t challenge them. This is extremely evident when sending money overseas, more »

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

Ripple Continues to Bring Internet of Value to Life

By Michael on

When faced with the issues of today’s antiquated cross-border payment system, we often focus on the difficulties of scalability with banks struggling to handle the volume of transactions, causing it to take three to five days to complete. In more »

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

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 future of banking: four scenarios

By Tim Strube on

The fact that the financial services industry, and especially banking, is going through the greatest disruption since the arrival of computers in the 60s is now universally accepted. The advent of digital technology and, more importantly, its adoption by customers more »

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

Are you paying for your banker's $600 lunch?

By Tim Strube on

Big banks are overcharging you by bouncing your money around the globe in a giant shell game while they collect fees and enjoy $600 lunches, on you. In this article, we’ll explore how to stop paying for your banker's more »

Tagged in: finance, regulation, migration, international money transfers, currency conversion, emigration

Fastest, most affordable currency transfers from Australia to Europe

By Tim Strube on

Australian startup FlashFX was designed from the ground up to outperform traditional financial institutions by providing fast, secure and very affordable foreign exchange conversion services as an alternative to the existing opaque, siloed and inefficient banking networks. And it does more »

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

The Australian Dollar Forecast to decline over 10%

By Sophie Green on

One of the most significant drivers in currency markets is relative interest rates as investors transfer capital from lower interest rate currency jurisdictions to higher interest rate currencies. Last weeks 25 bps interest rate hike in the United States and more »

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

Ripple Selected to Participate in the Bank of England FinTech Accelerator’s Exploration

By Michael on

The Bank of England’s FinTech Accelerator announced that it is conducting a PoC with Ripple to demonstrate cross-border payments and settlement using two different Real Time Gross Settlement (RTGS) systems. The goal of this PoC is to showcase the more »

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

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

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

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

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