Five FinTechs on Friday – June 26

Fintechs helping SMEs with access to capital, a fractional investment platform, a tech startup fund tracking service and a technology company that helps fintechs build customer relationships. Here are 5 fintechs on the spotlight this Friday.
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Member Spotlight: Square, Community payments

As many businesses can attest, access to payment rails that allow one to pivot to online sales has been essential in surviving the economic pressures presented by Covid-19. Consumers are using less cash, and businesses are resorting more and more to moving online. NAB has noted that there has been an 800% increase in the number of merchant facilities opened compared with April of last year. The Reserve Bank of Australia has noted in a March report that cash-based consumer payments have dropped to 27%, down from 69% in 2007. Cash withdrawals have also been impacted, dropping 32% in April compared to February. This has opened opportunities for digital marketplaces and businesses, products such as cryptocurrency, and the potential for digital cash (which we covered in a previous Member Spotlight), and payment providers. Square has been one such payment provider that is pivoting to help its customers as they adapt to a new way of working. 

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Five FinTechs on Friday – June 19

We highlight five fintechs this Friday that provide solutions in cross-border payments, helping consumers finance their energy requirements, digital currency payments and transfers, open banking, and intelligent digital wallets. Below are the five fintechs in Australia that you need to know about.
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Industry Updates June 18, 2020

We hope everyone has been well over the past few weeks as restrictions begin to ease across the country. We have several exciting policy and community updates in store for you all, as well as a myriad of events and opportunities that you can take advantage of.

In respect of our policy work, we have submitted our submission to the Inquiry into the Future Directions for the Consumer Data Right, and we are currently seeking feedback from members on the first draft of our submission to the ASIC ePayments Review.

We are also currently progressing on Intersekt and the Finnies, which are scheduled to run later in the year. If you want to be involved in these events, please do not hesitate to reach out.

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Resilience during COVID-19: Q&A with Airwallex’s Neil Luo

As ​Airwallex’​s Head of Growth, Neil leads the company’s global growth and user acquisition strategy. He has over a decade’s experience working across marketing, strategy, technology and data science, previously holding roles at SEEK, Hotels.com, Expedia and The Boston Consulting Group.

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Five FinTechs on Friday – June 12 edition

Today’s series looks at a digital marketplace for Aussie borrowers, an investment transactions app, a prepaid payments specialist, a flexible funding platform to SMEs, and a ‘buy now pay later’ tech company.
Below are five fintechs you need to know about this week.

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Member Spotlight: Civic Ledger, Digitally Transforming Water.

“Whiskey is for drinking, water is for fighting over”  —  Mark Twain.

The allocation of water rights in Australia has recently been the subject of media attention, particularly surrounding the Murray-Darling Basin, where an over allocation of water rights in the second half of the 20th century has led to a water shortage. Since water rights are regulated by the states, the systems are far from unified. There are four state registries, seven regulators, around 300 water products, and over 15,000 business rules that government water trades. Each register also attracts a fee to gain access and perform searches.

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Member Spotlight: InDebted, the model company for a post-Covid-19 market.

For many, the Covid-19 pandemic has slowed business growth and, for some, it may mean that they will have to shut their doors. It has been an unprecedented time of economic downturn, that the International Monetary Fund has tipped as potentially triggering a global recession worse than the recession triggered by the GFC. However, for some in the fintech industry, this has been a period of prosperity. Despite the economic downturn, many fintechs have seen continued investor support. In April, Xinja raised $433 million from a fund in the United Arab Emirates, and AirWallex gained unicorn status with a $252 million raise. More recently, Nium and Moneytree have completed successful raisings, and Joust has merged with Loan Dolphin.

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Five FinTechs on Friday 4

Innovation is the name of the game here in Australia. Today’s series covers an electronic payments solutions provider, real-time payment specialists, a unique banking app to help Australians save on their home loan, a marketplace for third-party fintech payment services and a global privacy enhancing, data exchange technology service.
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Industry Updates June 4, 2020

 




We hope that everyone has been well over the past couple of weeks. On the policy front, we are continuing to strongly advocate for the fintech ecosystem with respect to the budget to support you all on your recovery post-Covid-19. We have made our submission to the Inquiry into the Future Directions for the Consumer Data Right, and are currently drafting our submission to the ASIC ePayments Review (details below).

Industry Updates

Last week was particularly exciting, with the new Regulatory Sandbox legislation receiving royal assent. We also successfully lobbied for the removal of the directive that the AOFM must only distribute the SFSF 15 Billion Fund to companies that have 50M assets/loans under management. This change will allow more lenders to access the scheme.

New memberships and community initiatives

Before we launch into our community initiatives, we would like to welcome Scantek, Yodlee and Identitii as our newest members!

Since our last newsletter we have run two weeks of Five Fintechs on Fridays (with incredible enthusiasm from the community). These entries have featured BTC Markets, Data Republic, Assembly Payments, Tanggram, Ingenico, TradeLedger, OpenSparkz, Radium Capital, Pinch and Relay Pay. Stay tuned for this Friday’s latest FFoF.

In last week’s Member Spotlight we spoke with Caroline Bowler, CEO of BTC Markets about the opportunities that the current market presents for cryptocurrency adoption and, in particular, Central Bank Digital Currencies. This week we spoke with InDebted’s Lachlan Heussler about what the company is doing in the debt collection space, their unique use of technology, and their future plans.

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