Christie is looking to write 12 x US$120k cheques: apply now

Apply now: https://www.techstars.com/accelerators/tech-central-sydney-nsw

Christie Jenkins, Managing Director, Techstars Sydney

Christie has 25 years as a professional athlete; in Beach Volleyball, in Cross Fit, and Trampoline; she was #1 in Australia in all 3, and achieved a Gold Medal in 2010.
Over this period Christie has also been a coach, a consultant to brands such as BUPA, Commonwealth bank and ANZ. Christie is an investor, advisor, and has held roles at Blackbird, one of Australia’s top VC funds. Christie has also been a founder, creating sporting teams in Europe.
She’s now MD of TechStars in Sydney, and looking to make a number of seed or early sage investments, so an excellent guest for The FinTech Report Podcast.

In this episode we cover:

1. What is Techstars?
2. The program in Sydney/Australia – who should apply?
3. Sectors in fintech that are exciting
4. What makes a successful application?
5. How else TechStars helps – especially mentors
6. Valuations, investment amount, follow on rounds

Get in touch with Christie: https://www.linkedin.com/in/christiejenkins/

This is not financial advice

This podcast has been generated by Ai

AMP's FY 24 results show a business that has largely completed its portfolio reshape and is now focusing on driving growth, particularly within its wealth businesses, while also developing a digital bank offering. Key Financial Highlights (FY 24 vs FY 23):

Underlying Net Profit After Tax (NPAT): Increased by 15.1% to $236 million (FY 23: $205 million). This is AMP's preferred measure of profitability, reflecting the underlying performance of the business units.

Statutory NPAT: Reduced by 43.4% to $150 million (FY 23: $265 million). This decline primarily reflects business simplification spend and the loss on sale of the Advice business in FY 24, compared to gains on sale of AMP Capital and SuperConcepts in FY 23.

Underlying Earnings Per Share (EPS): Increased by 25.0% to 9.0 cents per share (FY 23: 7.2 cents per share). This was boosted by improved earnings and a 22% reduction in shares outstanding due to the on-market share buyback program.

Top Trends and Analysis:
1. Strategic Shift to Wealth and Retirement Specialism: AMP is positioning itself as a pre-eminent retirement specialist in Australia, leveraging its heritage and innovative products. This strategy is visible in the performance of its wealth businesses:
◦
Platforms: Saw a significant increase in underlying NPAT, up 18.9% to $107 million. This was primarily driven by strong net cashflow momentum (excluding pension payments), up 96.7% to $2.8 billion (FY 23: $1.4 billion). Growth in Managed Portfolios to $19.1 billion was a key driver of higher inflows.
◦
Superannuation & Investments (S&I): Underlying NPAT increased by 26.4% to $67 million. Net cash outflows (excluding pension payments) significantly improved to -$1.0 billion from -$6.4 billion in FY 23, reflecting resilient inflows and a focus on retention.

2. AMP Bank's Performance and Digital Push: The Bank's underlying NPAT decreased by 22.6% to $72 million (FY 23: $93 million). This was a result of consciously managing the loan book with subdued volume growth due to prioritising Net Interest Margin (NIM). NIM for the year was 1.26% (FY 23: 1.42%), with compression moderating in 2H 24. Growth in the residential mortgage book returned in 2H 24, driven by selective pricing and focus on segments like self-employed.

Capital Management and Shareholder Returns: AMP completed its $1.1 billion capital return program since August 2022, including share buybacks and dividends. This program led to a 22% reduction in shares outstanding. The Board declared a final dividend of 1.0 cent per share, 20% franked, taking the full year dividend to 3.0 cents per share. The Board is targeting a dividend payout of 2.0 cents per share per half through 2025, subject to conditions. The Group CET1 surplus capital reduced to $139 million in FY 24 from $300 million in FY 23, influenced by dividends paid and share buybacks. Future capital management will balance growth, shareholder returns, and managing the balance sheet.

5. The Bank is undergoing a strategic shift with the digital bank launch, which is critical for its long-term competitiveness and funding mix, though current performance is impacted by margin focus.

Overall, AMP is moving from a period of portfolio simplification and capital return towards a growth phase, heavily focused on its strengths in wealth and retirement, while also evolving its banking proposition through digital channels. The ability to continue driving growth in wealth, successfully execute the digital bank strategy, and maintain cost discipline in a volatile market will be key factors for its future performance.

These notes and this podcast are all Ai generated - source documents were all AMP announcements on the ASX website.

This is not financial advice. This podcast was produced using Ai platforms, and the Ai generated voices have 'North American' (ie USA) accents.

This podcast was produced using only information from a publically available PDF document that CBA listed on the ASX website. The Ai generated 12 minute podcast provides an in-depth look at the financial performance of the Commonwealth Bank of Australia (CBA) for the half-year ended 31 December 2024.

We used an Ai platform to review the CBA 2H 2024 report; the Ai reviewed the bank's income and expenses, including net interest income and operating costs, across its various business segments like Retail Banking, Business Banking, and Institutional Banking. The report also outlined key financial metrics such as capital adequacy, loan impairment, and funding sources, alongside a discussion of the prevailing economic conditions and the bank's approach to risk management.

The report does contain detailed financial data and metrics that an equities analyst would typically use as inputs to perform a valuation analysis. Some of the key information presented in the report that would be relevant for an analyst's valuation include:
•
Net Profit After Tax: The Group's statutory net profit after tax for the half year ended 31 December 2024 was $5,134 million, an increase of 8% on the prior comparative period. The cash net profit after tax was $5,133 million, a 6% increase on the half year ended 30 June 2024 and a 2% increase on the half year ended 31 December 2023. Management considers cash NPAT their preferred measure of financial performance.
•
Earnings Per Share (EPS): Basic cash EPS from continuing operations was 306.9 cents, and basic cash EPS including discontinued operations was 307.0 cents for the half year ended 31 December 2024. Statutory basic EPS from continuing operations was 307.5 cents, and statutory basic EPS including discontinued operations was 307.0 cents. EPS figures are crucial for valuation methods like the Price-to-Earnings (P/E) ratio.
•
Dividends: An interim dividend of 225 cents per share, fully franked, was declared. The dividend cover on a cash basis was 1.4 times. The dividend payout ratio on a cash basis was 73%. The Board considers factors like business growth, capital needs, market expectations, and EPS growth when determining dividends. Dividend information is key for dividend discount models and assessing shareholder returns.
•
Return on Equity (ROE): The cash ROE for the half year ended 31 December 2024 was 13.7%. Statutory ROE was 13.8% for continuing operations and 13.7% including discontinued operations. ROE indicates how efficiently the bank is using shareholder funds to generate profit.
•
Capital Position: The Bank maintained a strong capital position with a Common Equity Tier 1 (CET1) Capital ratio of 12.2% as at 31 December 2024, which is well above APRA's minimum regulatory requirement of 10.25%. Capital ratios are important for assessing the bank's stability and ability to absorb losses or fund growth.
•
Net Tangible Assets (NTA) per Share: NTA per share was $40.32 as at 31 December 2024. NTA provides a book value per share, which can be used in various valuation comparisons.
•
Economic and Operating Environment: The report mentions challenges for customers due to cost of living pressures and a slowed Australian economy, but notes moderating underlying inflation. These factors influence the bank's future earnings outlook and perceived risk.

To repeat. This is not financial advice. This podcast was produced using Ai tools.

The FinTech Report Podcast: Episode 58: Alan Shield, Founder of RFi Data Insights

Alan Shields, Founder, RFi Data Insights; the lessons for all fintech founders

Alan has recently authored and published a book on startups called “The Startup Handbook – the Founders Guide to Building a Business”

Alan’s book reaches into his experience of founding his own company, as well as mentoring others. Alan has 23 years of experience in data analytics, business intelligence, and market research, Alan is a passionate entrepreneur and business leader who helps financial institutions make data-driven decisions. Alan has successfully established and expanded businesses in London, Singapore, and Sydney. Alan was the Founder and Director of RFI Global, a data analytics and insights company, providing strategic guidance and technical data expertise to the world's leading financial services organisations.

Now at Trilogie Partners, Alan helps companies prepare for and execute fundraising efforts, review strategies to unlock growth potential, and offer practical advice to improve execution.

** Special offer: email Alan for a copy of the book: Alan Shields al@trilogie.partners **

Or, connect on LinkedIn and DM Alan: https://www.linkedin.com/in/abjshields/

In this episode, Alan discusses:

RFi: Data insights business

Biggest challenges with fintech startups struggling with = TAM, SAM, SOM: do you really know these for your business?

Product market fit? Do you talk to your prospects and customers?

Focus of the book, why he wrote it and how he believes it can help founders.

Founder's perspective on lessons learned from growing a data business globally over nearly 2 decades - bootstrapping, international expansion, culture/ talent and funding etc

Opportunities in banking for both banks and fintechs (customer behaviour, innovation and competition)

Building the payments infrastructure for B2B clients, bringing payments lessons from Europe into Australia, and helping Australian fintechs scale globally


Piers Cracknell has 20+ years’ experience in banking, payments & fintech across senior roles at NAB, CBA and global fintechs in Australia & the UK.
Piers was recently hired by European bank – Banking Circle – to set up their Australian operation, which is known locally as BC Payments Australia,

In this podcast we discuss:

1. What does BC Payments do in Australia?
2. Difference between Banking Circle (EU) and BC Payments Australia?
3. Building the payments infrastructure for customers
4. In Australia: Typical clients (B2B, acquirers, issuers), access to NPP, access to cross border payment schemes
5. What’s driving growth for BC Payments? Time and cost of settlement
6. Need for KYC and AML frameworks, understanding all types of risks (eg onboarding process, ongoing monitoring and supervision of client)
7. Experience in Europe – how is it relevant for Australia?
8. View on future of payments – domestic & cross border

From online application to money in the customer’s account in 36 minutes


From customer service (call centres), fraud detection & prevention, credit scoring & risk assessment, personalised banking, routine task automation, loan approvals, trading, to regulatory compliance and much more, Ai is changing finance, and fast.

In this episode Glen Frost interviews Julian Fayad on how his business, LoanOptions.Ai is changing unsecured lending, including how decisioning and payment is getting faster and faster – with the record at LoanOptions.Ai being 36 minutes for a Nurse to apply online, be and approved and received the money in their account in 36 mintues.

Loan Options AI is an AI powered loan matching and application platform to find you the best offers for car loans, personal loans, business loans, equipment loans and all other types of asset finance. LoanOptions.ai uses a combination of AI and dynamic logic to provide predictive pre-approval and accurate lender rates for hundreds of financial products from over 90 different banks and lenders. You can apply in under 5 minutes with no impact to your credit score.

Julian originally started in technology and has spent his entire career in asset finance, and Loan Options.ai is the culmination of everything he knows & using technology to make lending a better, faster and more efficient experience for the customer and the lender.

The FinTech Report Podcast: Episode 55: Angelina Wu, CEO & Co-Founder, InvestmentMarkets

Investment Markets launches to sophisticated (self directed) investors with 500 products, plans for growth

Angelina Wu, CEO & Co-Founder, InvestmentMarkets

investmentmarkets.com.au is an independent, Australian investment platform. It is a two sided market place for self-directed high net worth investors and investment product issuers (from emerging companies to institutionally managed funds to fixed interest products) – essentially, anything that is ‘unitised’.

Their taglines are "Every kind of investment opportunity, all in one place " and "the Home of the Independent Investor"

Angelina’s background includes money markets, wealth advisory and media, including stints with Commonwealth Bank, UniSuper, Trustees Australian and Guangzhou TV in China, and the last 4.5 years with investment markets.

Angelina and her co-founder Chris Morton launched in March this year after years of testing and refining the service.

Learn more: www.investmentmarkets.com.au

Contact Angelina: angelina@investmentmarkets.com.au

Topics discussed include:

1. What led Angelina and her Co-Founder to create Investment Markets?

2. What problem they are solving? How does the platform work? What is the unique selling proposition?

3. Angelina describes a user journey

4. Who are the customers? Who are the product issuers?

5. What types of products/investments are available for investors?

6. How does matching work? There is no advice on financial products

7. What’s the business model? (product provider charged a flat fee)

8. Why Investment Markets have undertaken two years’ worth of research before launching

9. Future plans? New products, new markets?

10. What does success look like?

Why don’t people switch banks? ACCC Retail Deposits Inquiry shines light on banks approach to deposit accounts; insights in ACCC Report influences Upworth to create ‘Savings Account Scanner’

THE FINTECH REPORT PODCAST: EPISODE 54: Alexandre Chavotier, Co-Founder & CEO, Upworth

According to Alex, the ACCC Report key points are:

Limited competition, interest rates not shown
Entry is hard
Product complexity (active pricing strategy)
Segmentation, price discrimination (introductory rates, bonus rates; ACCC report found 70% of account holders did not achieve the bonus rate)
Household deposits matter
Comparison websites
People generally don’t switch banks – why? Can CDR help solve this?


About Alex:

· Started career in investment banking in Europe before working at McKinsey and Quantum Black in Sydney

· Was at the forefront of McKinsey´s work in AI, including the development of a trading solution that secured internal VC funding

· Consulted to all the large Australian banks on an array of strategic topics and projects

· Came back to Australia 2 years ago to start Upworth after a 3-year stint in Mexico as right-hand to the Founder and CEO of ZeBrands, a successful scale-up comparable to Koala here (mattresses sold online)

About Upworth:

· Upworth is the wealth superapp.

· A one-stop-shop for personal finances where you can connect all your accounts to track your net worth, access unique and personalized insights and apply for financial products in a few clicks

In this episode we discuss:

1. ACCC Report – top 3 issues/key chapters (and Upworth’s interpretation)

a. Deposit accounts: limited competition, interest rates not shown

b. Many banks offer retail deposit products, but the sector is concentrated with barriers to entry and expansion; There are 4 major banks and 6 mid-tier banks which supply 89% of retail deposits, and a long tail of smaller banks supplying the remainder

c. Open Banking slow – why?

d. Chapter 7: Strategic pricing strategies lead to greater complexity for consumers and, for some, poorer outcomes – why?

2. Opportunities for Upworth?

3. How does it work?

4. What do users / customers need to connect? Eg bank accounts. And how do they do this?

5. Tech behind the new product? Platform, APIs, open banking, who do you partner with?

6. Results so far?