FinTech Australia Industry News July 2


We hope everyone had a good EOFY and we are looking forward to seeing all your successes over the next year. Speaking of successes, we are looking forward to sharing the success of our members and the ecosystem in the next week – please stay tuned.

Today marks an important day in the progress to a digital economy with the launch of the Consumer Data Right, but the hard work has only just begun. We need to ensure the CDR is accessible and cheaper for fintechs to use than other alternatives on the market. A key part of ensuring this happens is the ACCC consultation in respect of Intermediaries. We realise there is a long way to go before we get a framework that will adequately deal with the range of models in the market. If you are a member of FA, we would love to have your involvement. We are also currently in the process of drafting the second draft of our response to the ePayments Review based on member feedback, as well as working with our Blockchain and Digital Currency policy working group in respect of deregulation, and the future of the blockchain roadmap.

We are 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.

Before we launch into our community initiatives, we would like to thank Frollo for sponsoring this week’s newsletter. Your continued support of FinTech Australia and the broader fintech ecosystem is greatly appreciated. We would also like to welcome Adatree and Tic:Toc as our newest members!

Our focus is to continue to shine a spotlight on our members and highlight all your successes, innovative solutions and products in the market. One of these initiatives is Five Fintechs on Fridays have featured Nium, Basiq, Coinjar, Airwallex and Accurassi and Lumi, Suite2go, Domacom, Techboard and Business Fuel. The other is our Member Spotlight series. Last week, we spoke to Square’s head of Communications and Policy, Caitlin Walsh, where we discussed their quest to not only create a vibrant community in the payments space, but support it through the difficult times brought forward by the pandemic.

If you would like to be involved please let us know by reaching out to

Lastly, we recently partnered with IMC to promote new innovative courses in fintech and to highlight the demand in both education and career prospects in the fintech landscape.

If you need to chat or want to discuss anything, please feel free to send me an email.

Rebecca Schot-Guppy,

FinTech Australia

Consumer Data Right – Intermediaries Consultation

The ACCC has issued an update regarding the CDR Rules, which I have set out below. Among updates regarding the previous consultations and various amendments to the Rules, the ACCC will be consulting on draft Rules that authorise third parties who are accredited at the ‘unrestricted’ level to collect CDR data on behalf of another accredited person. This will allow accredited persons to utilise other accredited parties to collect CDR data and provide other services that facilitate the provision of goods and services to consumers. These Rules propose a more flexible liability structure than currently provided for in relation to use of outsourced service providers.

The draft rules allow a customer-facing accredited data recipient (the principal) to engage the services of another accredited person (the provider) under a “combined accredited person” (CAP) arrangement. This arrangement enables a provider to collect and/or use and disclose CDR data to provide services to the principal in order for the principal to provide the requested goods or services to a consumer.

ASIC ePayments Review 

Thank you to all the members that responded to the survey on the e-payments issues. We have taken your feedback and are currently in the process of drafting the second version.

The Future of Blockchain Deregulation

We’ve seen an unprecedented adoption of technology over the past 6 months in response to the pandemic, and some deregulation surrounding things like digital signatures. However, we consider that more needs to be done in respect of regulations that prevent the development and adoption of other technologies.

In light of Scott Morrison’s recent comments surrounding the importance of deregulation in adopting and supporting new technologies, with blockchain specifically being referred to, we are currently considering the next steps that need to be made to promote the development and adoption of blockchain technology in Australia.

Thank you again to Frollo for sponsoring this week’s newsletter. Last week, Frollo hosted a webinar detailing how to make the most of Open Banking data. They have put together an article that addresses the top 10 questions they received during that webinar. You can check it out here.

Make the most of Open Banking

As a member, if you wish to share any news or announcements that you would like us to promote on our next newsletter, please email us at


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MoneyNext Summit Online

MoneyNext Summit Online is the leading virtual event to address the current financial landscape and offer insight and opinion into the future of money.

180 visionary speakers and 5,000 finance and technology decision makers debate the latest industry trends and future innovations alongside tech giants and the latest startups.

Reserve your free place now for access to over 30 hours of exceptional content across 4 days.


Date: 18 – 21 August 2020


2020 Fintech Innovation Lab Asia-Pacific 

Are you aspiring to be the next FinTech Unicorn? Looking to collaborate with some of the best minds in the financial sector? If yes, Accenture’s FinTech Innovation Lab Asia-Pacific is the perfect programme for you! The programme, now in its 7th year, is open for applications between now and July 10th.

This year, the Lab is seeking companies in five major areas: Data & Analytics; Digital Banking; Health Insurance Ecosystem; Intelligent Automation and Emerging Technologies. More details here.

Quesnay’s Female Founders in InsurTech 2020

Female Founders in InsurTech 2020 is an innovation competition targeted at elevating female entrepreneurs with solutions relevant to the insurance industry by providing mentorship, education, and partnership opportunities.  This is the seventh edition of Quesnay’s Female Founders in Tech series.

The challenges question this year is:

“Digital technology continues to disrupt and transform the global insurance industry (with the recent pandemic further accelerating the need for change). How will your startup fuel essential innovation?”

Applications are open until July 26.


Copenhagen FinTech Week

Copenhagen Fintech Week is organized by Copenhagen Fintech, who builds the most inclusive and expansive fintech ecosystem. With a focus on human-centric solutions for a greater purpose, we help startups get off the ground by connecting them with financial institutions, research organizations, governments, NGOs and individuals who want to make a difference. We create uncommon connections between these innovation-seeking groups, and we foster collaboration at every step of the development process – from start-up to scale-up and everything in between.

Copenhagen Fintech is a non-profit organization whose potential surplus of Copenhagen Fintech Week will be recycled to fuel the global fintech ecosystem we love.


Date: September 15-16

Vital Advisory DIY ISO 27001 – Build your ISMS in-house

ISO 27001 provides a robust and systematic approach to building information security. However, implementation can be a challenging exercise for any business.

That’s why we are excited to bring these DIY ISO 27001 Workshops. Implementing an ISMS and potentially being ISO 27001 certified to demonstrate that you have the knowledge, technology and processes in place to protect critical data.

This workshop series provides a clear do-it-yourself path to an ISO 27001 Information Security Management System for any organisation.

For more information:

Build ISMS in-house using our DIY workshops @ AUD 3,187.50 +GST (Special Offer for FinTech Australia members)

– Live Webinars from 23 July (7 sessions)

– F2F workshops @ SYD from 5 Aug 2020 (5 sessions)

– F2F workshops @ MEL from 25 Aug 2020 (5 sessions)

MFH India Entry Support Platform

Mumbai FinTech Hub in collaboration with EY has launched its India Entry Support Platform – A one stop online portal which gives FinTechs access to personalized services and support from leading industry players in , RoC and Compliance, FinTech Regulation, Tax, Banking, Co Working Spaces, Media & Marketing, Market Entry Advisory and more.

You can leverage this platform if you are looking to establish or expand your FinTech in India.

To know more, visit –

NPP Mandated Payments Services Webinar

The NPP Mandated Payments Services (MPS), currently under development, will enable customers to authorise third parties to initiate payments from their bank accounts using the NPP.  With a common process for establishing persistent customer authorisation, the MPS will provide a broad, scalable and secure solution for account-based third party payment initiation in Australia.  If you’d like to learn more about the service, including potential use-cases, benefits, how the service will work and what the access options are for fintechs, please join FinTech Australia and NPP Australia for a free webinar on Thursday, 16 July 2020 at 11am.


Managing Your Privacy Obligations In Collecting Information From Employees and Customers

Our policy partner, K&L Gates, will be hosting a webinar surrounding your privacy obligations in collecting information from employees and customers.During the session, the team will explore:

  • What collection of health information is allowed?
    Eg temperature scanning, surveys, location tracking and other methods?
  • What supplemental privacy materials will you need to facilitate this collection?
  • Can you refuse entry to premises to people who:
    • refuse to provide information or consent to a temperature scan or location tracking?
    • refuse to undergo a flu vaccination?
    • display or develop symptoms, or test positive to COVID-19?
    • refuse to download the COVID-19 tracing App?
  • Should you encourage people to ‘dob in’ those with symptoms?
  • Can you use mobile apps to enforce social distancing of your customers or workers?
  • Have you thought about the increased data breach risk from all the remote workers and customer interfacing?

ASIC Regtech Initiative Series 2019-20

Remote services and supervision webinar (14 July 2020)A webinar discussion forum between industry, regulators and guests highlighting regtech’s potential to support the provision and supervision of financial services whilst many staff work remotely. The panel will include representatives from financial firms and professional service providers.

Responsible lending demonstration webinar (20 August 2020)

A public problem-solving event with a curated synthetic data set in which selected regtech providers will demonstrate how AI/ML can be used to support a firm’s compliance with responsible lending obligations. The regtech solutions will be showcased at a public webinar including an industry panel discussion.

The Finnie Awards

We understand everyone in the industry is experiencing great uncertainty at this time. The Finnies have always represented the resilience of fintechs, promoted the achievements of the industry, driven awareness and encouraged further innovation. We understand that these are uncertain and challenging times; as such we have made the hard but necessary decision to postpone the awards to a date later in the year to Friday, 27 November.

Applications close on Sunday, 16 August 2020.

Money 20/20

Money20/20 is so much more than just the biggest FinTech event in Europe.

Around every corner lies one-of-a-kind networking opportunities, world-class actionable content and huge industry parties uniting everybody who is anybody across the world’s money ecosystem.

From the next generation of FinTech superstars, established industry power houses and trailblazing start-ups from across the payments, FinTech and financial services ecosystem, everyone is here, every time.

Join the global movement shaping the future of money this September in Amsterdam.

You can get a discount using the code MP20AUS

Date: 22 – 24 September 2020

Venture Summit Virtual Connect | Global 2020 

Come meet, interact and network online with more than 1,300 VCs, Corporate VCs, angel investors, industry execs and founders of venture backed, emerging and early stage companies at the prestigious Venture Summit Virtual Connect | Global being held virtually on August 4th – 6th 2020. Featuring a dedicated Fintech track.

Register today to confirm your spot: 20% off Early Bird Rates which are $400 off with Discount Code: FINTECHAUVIP.


Date: 4-6 August 2020


London Tech Week Virtual Mission

The UK’s Department for International Trade (DIT) is hosting its inaugural virtual mission to London Tech Week (2 – 10 September 2020) and are looking for innovative tech companies wanting to expand to the UK, to join the free mission.London Tech Week is Europe’s largest technology festival with live events taking place across London. In 2019 LTW attracted over 58,000 attendees from 95 countries, hosting 300 events with a social media reach of 300 million people. The conference has transitioned to a virtual format for 2020 and participants will receive a virtual curated programme over 3 nights filled with content aimed at an Australian and New Zealand audience.

The highly interactive virtual mission will allow participants to hear from key players in the tech ecosystem and understand the opportunities in the UK post COVID-19.

Applications close 13 July. Only a select number of spots are available for this specially curated and completely free programme for ambitious, globally scalable tech businesses, match-fit for UK market entry. Apply today.

Please note that sessions will run from 4pm – 8pm AEST and companies must attend at least three evening sessions during London Tech Week, plus a pre-mission briefing.

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Upcoming Events
  1. Australian Fintechs Going Global

    August 24 @ 5:00 pm - 7:00 pm
  2. Intersekt 2022 – Startup Pitch Night

    September 6 @ 5:30 pm - 7:30 pm
  3. Intersekt 2022

    September 7 - September 8

Ep 2: Fintechs Acceleration of Growth Since COVID

Ep 1: The Evolution of Payments

Scaling Product Globally


Lee Hatton – Afterpay: FinTech Australia Podcast

Anthony Jones – Visa AUS/NZ

Tim Cameron – TransferWise