NZ fintech firm Banqer has secured a sponsorship deal with an independently-owned Australian investment platform to roll out its award-winning online financial literacy program across the Tasman.
In a release, the Melbourne-headquartered Netwealth, which boasts more than A$10 billion in funds under management, said the Banqer program meshed well with the platform provider’s philosophy to build financial knowledge and competence.
Matt Heine, Netwealth joint managing director, said in the release the group was “proud to have brought [Banqer] to Australian kids”.
“We seek to enable, educate and inspire people to see wealth differently and to discover a brighter future,” Heine said in the statement. “Banqer is a great opportunity for us to extend this purpose supporting a program that starts kids on this journey.”
The Wellington-based Banqer has racked up several awards since its 2014 launch – including winning ‘Best in show’ at the inaugural 2015 Australian fintech industry group Afiniation event in Sydney and the Webstock BNZ Start-up Alley top prize that year – with its software now used by about 30,000 students in 450 NZ schools.
Developed by former accountant, Kendall Flutey, Banqer simulates a banking environment for Year 2-8 schoolchildren, exposing them to concepts such as compound interest, insurance and even KiwiSaver.
Netwealth has solid support in the Australian independent advisory market as well as some direct clients with its technology platform recently named best in “overall functionality and overall satisfaction” in a survey by research house Investment Trends. The firm also offers a range of investment and superannuation products and owns financial planning group, Bridgeport Financial Services.
Meanwhile, another NZ-originated fintech firm, SuiteBox, has hooked up with Australian financial services training operator, Mentor Education.
Mentor said in a statement it would use the ‘virtual meeting’ SuiteBox technology its financial adviser education curriculum.
Mark Sinclair, Mentor founder, said technology was a “game-changer” for Australian financial planners in the wake of recent legislative reform of the sector.
“Not only will technology improve and enhance client/adviser interaction, engagement and capacity, it will do so with adherence to the highest standards of compliance, record keeping and cost effectiveness,” Sinclair said in the release.
Founded in NZ by Craig Meek, SuiteBox is making inroads as a business development and compliance tool for the Australasian financial advisory industries.