This Month
Small-cap tech stock rolls the dice with $90m US buyout
ASX-listed Stakk has a market cap of $74.9 million but is spending millions more to buy US firm ParaScript, in a deal it says will transform its fortunes.
June
Airwallex rockets $4b in six months as founder chooses AI over IPO
Jack Zhang says he always feels like an outsider, but his company is charming investors despite pushing back a float and facing claims it is too close to China.
Westpac poaches new chief information officer from Macquarie
Anthony Miller has appointed Richard Heeley to the top technology position as big banks increase spending and focus on the roll-out of artificial intelligence.
CoinSpot’s wealthy owners bank $400m in dividends over just two years
The popular Australian cryptocurrency exchange had a bumper period as demand for trading digital assets soared, newly filed accounts show.
CBA hopes its AI agents can fend off a competitive threat from OpenAI
Major Australian banks face a new front for competition in increasingly complex personal financial assistants launched by US artificial intelligence providers.
May
OpenAI’s Sam Altman says Australia can be a data centre world leader
Altman also said advances in technology meant computers had almost reached a level of “artificial general intelligence” where they match human thinking.
CBA boss warns of job losses from AI, argues to protect copyright
Matt Comyn says the federal government doesn’t need to choose between copyright protections for creative industries and artificial intelligence investment.
Quantum computer-powered hackers the next cyber-threat for major banks
Lenders are preparing to bolster the card payment system with ‘post quantum cryptography’ by 2030 to protect customers from further danger.
The invisible units of data that are reshaping the modern workplace
The era of the token has arrived. As banks swap salaries for AI, they face a new cost: the price of digital thought. Can efficiency outpace the rising bill?
April
Start-up founder quits as CEO to tackle AI’s existential threat
Josh Foreman founded the $350 million company a decade ago and says he now wants to focus on building its new products with artificial intelligence.
Fintech Caruso’s valuation soars in new funding round
The funds administration start-up has finalised a $9.3 million capital raising at an $80 million valuation.
Airwallex taps RBA director Elana Rubin to chair new governance board
Rubin and former NZ prime minister Bill English will provide governance oversight to the fintech giant as it deals with an AUSTRAC investigation.
The RBA card surcharge ban will still hit your wallet
Research shows that without alternative payment methods, banning fees merely shifts transaction costs rather than remove them.
March
RBA calls for co-ordinated effort to unlock digital asset markets
A series of pilot transactions using digital assets drew a strong industry response, but the RBA says banks and regulators need to accelerate their efforts.
IPO aspirant Pay.com.au kicks off $850m April float
The fintech’s new-look board asked investors to support the ASX listing and outlined the high-level details of a priority shareholder offer.
Australia’s next tech unicorn is a cryptocurrency player
Stablecoin payments platform KAST has raised $113 million in its Series A funding round from two US venture capital firms.
Macquarie turns the screws on CBA in $85b rental payments market
As the number of renters increases, the pool of payments they make is growing. The banks want to own that while a group of outsiders is eyeing the prize, too.
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Financial market technology upgrade could unlock $24b a year
Modernising the nation’s market infrastructure could deliver significant gains for banks and investors while arresting a slide in global competitiveness.
February
Top banks trial stablecoin loan deals, but a bigger threat is looming
NAB and Westpac were among the banks taking part in recent stablecoin capital markets transactions, under a program backed by the RBA.
Coinbase says debanking is a ‘systemic feature’ of Australian finance
One of the world’s largest cryptocurrency exchanges says it is “standard protocol” for major banks to deny services to digital asset companies and fintechs.
