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Morgan Stanley Driving Fintech’s Capital Raising Process

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News


The multinational investment bank will drive the capital raising process for one of Australia’s newest neobanks who is opening its doors to new investors. 86 400 is an aspiring bank that is currently been supported and fully funded by Cuscal Limited but is seeking new shareholders. Cuscal Limited, an independent payment provider will continue to support the neobanks as it enters its capital raising plan.

Robert Bell, chief executive of 86 400 said that Cuscal had helped the bank to invest heavily in their technology over the past two years. “Over the last two years – and with the support of Cuscal – we’ve invested heavily in building proprietary technology that will change the way retail banking is delivered in Australia,” he said. The capital raising is in line with the banks business plan, which requires more than $250 million of capital over the first three years of operation to fund its growing balance sheet.

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Singapore Ranks Third In Open Banking Index

Posted by Anton Murray Consulting on . Posted in Investment Banking News, Market Commentary, News

Singapore ranks third on EY’s Open Banking Opportunity index, partially driven by proactive efforts by the Monetary Authority of Singapore (MAS) to progress open banking since 2016. It ranks behind China, but ahead of Hong Kong.

«The regulator has taken an innovative and collaborative approach in the way it works with the industry and other markets in the region. This balanced approach helps Singapore banks to advance significantly in this space, and encourages an innovative environment for adoption to take root naturally through co-creation without a mandated system seen in other markets,» said Andrew Gilder, EY Asia-Pacific Banking and Capital Markets Sector Leader, in a recent report.

China and Hong Kong

Open banking is thriving in China, driven by an innovation-focused economy and the world’s most digitally connected consumers. The country’s voluntary approach to regulation and demand from its fast-expanding, digitally connected middle class, rank it number 2 in the Open Banking Opportunity Index.

Hong Kong has huge Open Banking adoption potential given its digitally-active population. However FinTech innovation in the market is lagging, keeping it at sixth place in the Index.

«However open APIs, combined with other recent initiatives announced by the Hong Kong Monetary Authority such as virtual banking licences and a faster payments system, may be the catalysts that transform the market,» EY said in its report.

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More women investing online but gender gap persists

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News


Despite the number of women investing online doubling over the last five years, they still only represent a fifth of Australian online investors, according to a study. Research from Investment Trends has shown female online investors have been on the up, going from 76,000 in 2013 to 150,000 last year. The data also shows ESG factors tend to be prioritised more by women in comparison to men.

When it comes to their investment selection process, 29 per cent of women said it is ‘very important’ that their portfolio contains companies that have good and ethical ESG standards, compared to 19 per cent for male investors. The research comes as Fidelity International, Australia has published a report that has found women are investing less. Suzie Toohey, global head of Client Service and Sales at Investment Trends said that while the rise shows that more women are building their wealth and moving towards an independently secured financial future, more still needs to be done.

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More Investors Choosing with Conscience

Posted by Anton Murray Consulting on . Posted in Funds Management News, Investment Banking News, Market Commentary, News


Nearly half of Australian investors are influenced by environmental, social and governance factors when choosing funds or companies to invest in at 43 per cent, a study has found. The Legg Mason Global Investment Survey, involving 16,810 investors from 17 markets, including 1,000 Australians, showed 88 per cent of investors believe that fund managers should actively ‘police’ companies they invest in to ensure they act responsibly. Around 55 per cent of respondents said they avoid businesses with controversial track records.

Almost half of respondents at 45 per cent said they will increase ESG investments over the next five years. Millennials were found to find responsible investing more important, with 70 per cent of the demographic investing in sustainable funds, as opposed to 21 per cent of Baby Boomers. The study found Millennials at 28 per cent were equally as likely as Baby Boomers, at 24 per cent to feel fund managers should consider a company’s effect on their local community.

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Don’t Underestimate Millennial Investors: Report

Posted by Anton Murray Consulting on . Posted in Investment Banking News, Market Commentary, News, Wealth Management News


A new report has shown that the millennial generation will be an investment force to be reckoned with as they build their careers and inherit the baby boomer wealth. The Legg Mason Global Investment Survey found that millennials as investors are more optimistic and willing to embrace risk than their baby boomer parents. Millennial investors are also more idealistic in their approach and embraced ESG assets and considered ethical factors in their returns judgement.

Seventy per cent of Millennials would choose funds or companies in accordance to ESG factors while only 21 per cent of baby boomers made the same claim. “More than anything, the research paints a picture of millennials as conviction investors, backing their own judgment and values. Australian millennials see the best opportunities in the year ahead coming from international stocks, real estate, cash and domestic stocks,” the report read.

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