Latest news with #Float
Techday NZ
20-07-2025
- Business
- Techday NZ
Exclusive: How Afterburner's AI speeds up mortgage advice & frees up advisors
Afterburner, a New Zealand-based fintech startup, is putting the power of AI into the hands of mortgage advisors, by reducing admin-heavy tasks from hours to just seconds. "Advisors don't enjoy typing out forms or writing up credit memos," explained Geoff Christopher, one of Afterburner's three co-founders. "They enjoy having those meaningful, value-add conversations with clients. So we're building tools to help them do just that." Afterburner was spun out of Float Financial, a mortgage advisory firm co-founded by Christopher and Naylon Cassidy. The third co-founder, Jacob Muñoz, joined the business originally as a customer experience hire - but quickly revealed himself to be a skilled software engineer. "Jacob automated his role within a month," Christopher said. "Then he just kept going, building tools to solve the pain points we face every day as advisors." The idea for Afterburner emerged organically. The tools Muñoz developed for internal use at Float caught the attention of other financial advisory firms. "We'd show other advisors what we were using, and they'd say, 'This would be incredible if we could use it too.' So that's when we realised we should build it out as a SaaS product," Christopher explained. Unlike generic fintech tools that offer broad solutions, Afterburner is specifically tailored to mortgage advisors. "We're not building features in a vacuum," he said. "Jacob sits next to a team of 14 financial advisors, and he's solving real problems in real time." The first generation of Afterburner tools focuses on streamlining repetitive tasks. These include calculating borrowing capacity across multiple banks, generating credit memorandums, summarising client interviews from recorded calls, and translating complex lender approval letters into simple, client-friendly summaries. "These are tasks that would normally take 10 to 20 minutes - or even longer," Christopher said. "Now, they're done in seconds." The second generation of tools, currently in beta testing, goes even further. "You can feed in every document for a mortgage application, and Afterburner will write up the entire thing," he said. "It cross-references everything - bank statements, declared expenses, KiwiSaver balances, credit cards - and highlights discrepancies just like a seasoned banker would." The platform also drafts follow-up questions, responds to bank queries, and even pre-fills complex forms like bank handovers and account onboarding paperwork. "We've automated about 95% of the repetitive workload," Christopher added. This has allowed Float Financial to grow from 10 to 15 staff since January, with most of the team made up of advisors rather than support roles. "We've eliminated so much admin, we don't need a big back-office team," he said. "In fact, one of our support staff is now training to become an advisor. That's the kind of professional growth we want to enable." Afterburner co-founders Naylon Cassidy, Geoff Christopher and Jacob Muñoz. When asked about compliance and data privacy, Christopher said the platform is fully encrypted and undergoing ISO 27001 certification. "We take security and compliance incredibly seriously. Financial advisors using Afterburner must have clients sign privacy declarations, and we ensure data is only used for authorised purposes." Afterburner's impact is being felt not just at Float but across the growing number of advisory firms adopting the platform. "The feedback has been overwhelmingly positive," said Christopher. "When we demo the next-gen tools, advisors say, 'When can I have this?' They're excited - it's a huge leap in productivity." Despite the power of AI, Christopher was quick to emphasise the continued importance of human connection. "Most people still want to talk to a real person when they're making big financial decisions," he said. "It's about trust, and AI can't replicate that." Looking ahead, Afterburner is eyeing expansion. Its AI-powered approach could be applied well beyond mortgages. "We've already built tools for personal insurance, KiwiSaver, and investment advice," Christopher said. "And we're talking to accountants too - imagine automating tax returns and financial reports in the same way." The team is also in discussions with large Australian aggregators, which could open the door to international markets. "With insurance and accountancy, the fundamentals are global," he noted. As for the pace of innovation, Christopher admitted it's moving fast - even for the founders. "It's crazy to think how far we've come with just the first generation of tools. The next phase? It's like 5x to 10x better," he said. "And we're not rocket scientists," he added. "There are smarter people out there doing amazing things too." "But for us, it's all about solving real problems for real people. That's what keeps us going."
Finextra
23-06-2025
- Business
- Finextra
SA fintechs Float and Adumo team on in-store installment payments
Float, Africa's first card-linked instalment platform, has announced a strategic partnership with Adumo, a leading provider of payment solutions in South Africa. 0 This collaboration will offer consumers the option to pay in-store over four interest-free monthly instalments using the available limit on their credit card. This collaboration enables an improved shopping experience at a wide range of mainstream retail outlets using Adumo payment devices. Retailers such as Safari Outdoor, Verimark, Cellucity, TOMS, Vision Optometrists and Tyremart can now offer Float's popular payment solution, which allows customers to pay with their credit card more responsibly. "Float's card-linked instalment model is fast becoming a pervasive payment method for shoppers across South Africa. This partnership with Adumo will further our footprint and ensure that millions of credit card holders can split their purchases over several months, without incurring any added interest," says Alex Forsyth-Thompson, founder and CEO of Float. Float is designed to work seamlessly with existing credit cards without needing sign-up, registration, or credit checks, making it a convenient and instant payment option for credit card holders. At the same time, merchants benefit from significantly bigger baskets and improved sales conversion rates. Card-linked instalments differ from the regular buy now pay later (BNPL) model as it does not issue new credit to consumers. Instead, Float helps consumers use their existing credit more innovatively and responsibly. The service is compatible with any Visa or Mastercard issued credit card, meaning Float merchants can accept instalment payments from around seven million credit cards in South Africa. Using Float on an Adumo terminal is simple: shoppers select it as a payment option at checkout, verify their identity with a one-time pin, pay 25% upfront on their credit card, and the remaining balance is automatically split into three monthly instalments. Consumers pay over time while merchants receive the full payment upfront. The partnership creates significant value for retailers by offering shopper payment flexibility while driving larger purchases. With average order values ten times larger than regular BNPL and access to over five million pre-approved credit card holders, merchants typically see a 134% increase in average transaction value and higher conversion rates. Since its launch in November 2021, Float has experienced substantial growth. It now supports over 1,500 stores, including leading brands like iStore, Tiger Wheel & Tyre, Samsung, Cape Union Mart and The Pro Shop. Introducing in-store payment options through Adumo further strengthens Float's position as a leader in the instalment payment market.
Daily Mirror
11-06-2025
- Daily Mirror
Brit facing death penalty over Angel Delight cocaine haul insists she was framed
Lisa Stocker, 39, is currently on trial at Denpasar central court where she told a jury she had been "framed" after cops arrested her and her partner at the airport entering Bali A British mum facing the death penalty in Bali after she was accused of trafficking cocaine worth more than £300,000 disguised as pudding mix claims she was framed. Lisa Stocker, 39, is currently on trial at Denpasar central court where she yesterday told a jury she had been fitted up after cops arrested her and her partner at the airport. "The packages were not mine, but someone else's," she said. "I was framed." The mum-of-three entered Bali and was found with 992 grams of cocaine stashed inside packets of Angel Delight in her luggage. Stoker and her partner Jon Collyer, 39, both from East Sussex, were arrested after cops swooped at Bali's international airport on February 1. A routine X-ray at the airport alerted officials to the suspicious packages as the couple arrived in Bali after travelling from the UK through Qatar. A third Brit, Phineas Float, 31, also of East Sussex, appeared alongside the couple in court - Float is accused of receiving the packages in an airport hotel on February 3. Cops reportedly used Stoker and Collyer as part of a sting operation to lure Float, leading to his arrest on drugs charges as well. If found guilty of trafficking the substance all three defendants could face death by firing squad under the harsh laws of the country. Stocker said a friend in the UK had given her the 17 packets of Angel Delight dessert mix and instructed her to take them to Bali. "Jon and I had been to Bali twice carrying packages from [him]. I was shocked after finding out it was cocaine," she said. Jon Collyer told the court that he had not received any payment, adding that he paid for the trip to Bali himself. "[He] gave me some goods to be handed over to his friend in Bali. [He] told me the package contained snacks, such as chocolate, pudding and chips. [He] said that someone would pick up the package when I arrived in Bali," Collyer said. However police prosecutor Made Umbara said that the friend in fact gave Collyer £2,130 to pay for the couple's accommodation and flights from the UK to Bali. During a press conference in February where the three were paraded in front of the cameras, Float was seen to laugh. He also yelled at journalist to "f**k off" while walking to the court room for the first day of his trial last week. He was reserved in court today, however. "I took the packages from Jonathan and Lisa after getting a message from [him],' he said. "I wanted to help a friend and did not know it was cocaine.' He said Lisa "chose to live a healthy life,' adding he was shocked that she was involved in any alleged trafficking plot. The trial is scheduled to continue on June 17.
Wales Online
11-06-2025
- Wales Online
British trio facing death penalty over Angel Delight cocaine plot
British trio facing death penalty over Angel Delight cocaine plot The three face the death penalty for 'smuggling cocaine in sachets of Angel Delight' into Indonesia Phineas Ambrose Float, Jonathan Christopher Collyer and Lisa Ellen Stocker (Image: AFP via Getty Images ) Three British people are facing the death penalty after being accused of smuggling nearly a kilogram of cocaine into Indonesia in Angel Delight sachets. Jonathan Christopher Collyer, 38, and Lisa Ellen Stocker, 39, were stopped and arrested by officials at an X-ray machine at customs in Bali on February 1. The X-ray machine had highlighted suspicious items in their luggage disguised as food packages, said prosecutor I Made Dipa Umbara. The alleged drug smugglers came into court wearing the bright red waistcoats defendants are forced to wear during trials in Indonesia. Don't miss a court report by signing up to our crime newsletter here The District Court in Denpasar heard that lab tests revealed that 10 sachets of Angel Delight powdered dessert mix in Collyer's luggage combined with seven similar sachets in his partner's suitcase contained 993.56 grams of cocaine, worth an estimated six billion rupiah (£272,000), The Mirror reports. Phineas Ambrose Float, 31, was arrested after a controlled operation which saw the other two suspects hand the drug to him in a hotel car park in Denpasar, the court was told. He is being tried separately. As he was led into court to face the drug charges against him, Float told journalists to "f*** off". He was brought to Denpasar Central Court in Bali in a prison van, wearing a white shirt and red prison vest with his wrists in shackles. Article continues below He hurled abuse at the gathered media as he was taken to a holding cell but was then seen in court smiling at Collyer. The drugs were flown into Indonesia from England via Doha international airport in Qatar, Mr Umbara told the court. The group had got past Indonesian authorities twice before, but were caught on this third attempt, Ponco Indriyo, the deputy director of the Bali Police Narcotics Unit said. The charges against the three were read out in court before a panel of three judges adjourned the trial until June 10 when the court will hear witness testimony. Float was previously jailed in the UK for armed robbery and drug dealing. In 2012, Float - then aged 19 - was sentenced to a year in jail after being caught with mephedrone hidden in his sock. He had been trying to get into the Sugar Mill nightclub in Hull city centre when security at the door stopped and searched him. He had hidden 35 bags of the Class B drug, better known as M-Cat or Meow Meow, in his sock, which had a street value said to be £216. He also had £105 in cash on him. Float, who was of no fixed address at the time, later pleaded guilty at Hull Crown Court to possession with intent to supply a Class B controlled drug and failing to provide a sample on suspicion of taking a Class A drug. He was still on licence at the time having been released from prison halfway through a sentence for armed robbery, and was told to go back to jail to serve the remainder, along with 12 months for the drugs charges Around 530 people, including 96 foreigners, are reported to be on death row in Indonesia, mostly for drug-related offences. The UN Office on Drugs and Crime said Indonesia, which has some of the strictest drug laws in the world, is a drug smuggling centre. International drug gangs are said to target the nation's young population. Those found guilty of drug smuggling face long jail terms or, in some cases, execution by firing squad. The last executions of an Indonesian and three foreigners were carried out in July, 2016. British woman Lindsay Sandiford was arrested in Indonesia in 2012 when 3.8 kilograms of cocaine was found inside the lining of her luggage at Bali's airport. Now aged 69, Sandiford has been on death row for more than a decade. Her death sentence was upheld by Indonesia's highest court in 2013. Article continues below The Mirror reported that Stocker had been transferred to Bali's Kerobokan jail - the same hell-hole jail where pensioner Sandiford has spent more than 12 years awaiting execution for smuggling cocaine. A source told the paper: "Stocker was moved to Kerobokan and placed in isolation as all new prisoners. Over recent weeks she has slowly been released into mainstream jail life and is due to be assigned a room. It means Sandiford has a new country person."
Scottish Sun
06-06-2025
- Scottish Sun
Family & friends of 3 Brits facing death penalty in £300k Bali coke smuggling plot reveal horror as trio's fate awaits
THE family and friends of three Brits facing the death penalty after being accused of a £300,000 coke smuggling plot have revealed they are in "deep shock". Jon Collyer, 37, and Lisa Stocker, 39, both of Gillingham, Kent, are charged with attempting to smuggle 1kg of cocaine into Bali on February 1. 6 Brits, from left, Float, Jonathan Collyer, and Lisa Stocker are escorted by security officers before the start of their trial Credit: AP 6 The trio are charged with attempting to smuggle cocaine worth £300k into Bali Credit: EPA 6 The defendants face the three judges who will decide their fate at Denpasar's District Court Credit: AP A third Brit, Phineas Float, 31, who was allegedly due to receive the pair, was arrested a few days later. The three Brits face death by firing squad if they are found guilty of the offence under Indonesia's tough anti-drug laws. Members of their families and friends have now spoken of their horror over the drug arrests. Julian Collyer, dad of Jon, said: "I'm in deep shock, to be honest. "I'm very, very worried as any father or parent would be. I'm concerned about the court case and just very worried." Speaking to the DailyMail, the East Sussex dad revealed he spoke to his son for the first time in three weeks. A family member of mum Lisa Stocker, who wished to remain anonymous, said her kids "are desperate without her". She added: "She's just a mum. Her kids are going to be desperate without her. "It doesn't bear thinking about. I'm so shocked and I can't sleep at night thinking about what might happen to her." Stocker and Collyer allegedly brought the drugs into Bali's Ngurah Rai International Airport via Doha airport in Qatar. Brit woman, 21, rotting in Dubai hellhole jail without a shower for a month after being arrested on drugs charges The pair was arrested at the airport when security officials discovered suspicious items in their suitcase during a random X-ray check. Police claim airport security seized 994.56g of cocaine in sealed blue plastic Angel Delight packets in Collyer's suitcase. Cops allege more cocaine was found in Stocker's bag. It's claimed Float was expected to meet Collyer and Stocker at the airport. Collyer and Stocker are being tried together and Float separately, although the trio appeared together in Denpasar earlier this week. The trio's fate will be decided by three judges, since Indonesia does not have a jury system. Float was all smiles as he faced the court in Bal earlier this week. He told journalists to 'f**k off' as he was led to face drug trafficking charges. 6 Float, on the right, told journalists to 'f**k off' as he was led to face drug trafficking charges Credit: AP 6 He hurled abuse at the press while being walked to a holding cell Credit: EPA 6 Collyer and Float were seen grinning at local media during an earlier court appearance He arrived in a prison van at Bali's Denpasar Central Court with his wrists shackled and wearing a red prison vest over a white shirt. The Brit hurled abuse at the press while being walked to a holding cell. Article 113 of Indonesia narcotics law states that anyone who imports or distributes drugs is subject to the death penalty. The three have been held in Bali's notorious Kerobokan prison and it has been reported that Float has gotten into fights with other inmates. Prison authorities threatened him with being thrown into the feared 'rat cell' isolation over an alleged recent brawl with another inmate. Around 530 people, including 96 foreigners, are on death row in Indonesia, mostly for drug-related offences, according to the country's Ministry of Immigration and Corrections.
