This week Joel, Brett, and Louis discuss the major changes in the banking industry. The recent introduction of Osko has highlighted the technology reform that has occurred in the banking industry and the impact these changes will have in the coming years. In the last decade, the major banks have overhauled core systems, however, the tools used to communicate between the banks have remained the same. These tools, Bpay electronics transfer (EFT), real-time gross settlements, swift etc have all been limited in terms of communication between banks
In the last few years, these tools have been under development and most recently released to the major banks. Osko is a payment tool that allows for real time instant communication between all of the major banks. A payment from one bank to another will be transferred in an instant. What impact will this have to Crypto Currency, when its major value proposition was an instant transfer?
Other key changes, neo banks, and open banking are set to shake up the banking industry. Listen to the podcast to hear more.
This Week’s Investor Exchange Round Table Covered:
- Brett looks at a high-level comparison of investments. A recent Vanguard report on diversification reviews 30 years of data, dating back to 1990. The report highlights the best and worst of a number of asset classes and the avg comparable return. The highest average return was US shares with 11.8%, the next two highest was the Australian and US international listed property (10.6%), followed by Australian shares (10%). Do you know the single highest return at 57.5%? Listen in to find out. (25.04)
- Joel discusses the fractured state of the IPO, impacted by the controversy surrounding Wework. Yesterday we found out the Latitude finance failed to get its second attempt at the IPO with what appears to be an attractive deal. This may be as a result of the fear amongst private investors of private equity firms overselling poor-performing entries (38.14).
You Cannot Be Serious:
An unlucky UK teenager drove 160kms to a music festival. He decided to find the closest parking spot in a side street and catch a taxi the remaining 10 kms. After having a great time at the festival he headed back to his car to discover he had no idea where his car was. Unable to locate it, he had to catch a taxi the 160kms home. 2 weeks later he is yet to find it!
A lady in Pittsburgh went to drive her car, unable to start it, she opened the hood and found a clever little squirrel had been storing it’s nuts. In fact, when she opened the hood 200 nuts came out. On further inspection they discovered nuts in the engine, over 50 more nuts were safely stored in the engine casing
Ironically the annual conference held by the intergovernmental council on climate change in dis attended every year by more politicians traveling in more than 1300 and 1700 private jets!
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