GoCardless launches free online course ‘PayTo University’ to support introduction of Au`stralia’s new payment system

New resource coincides with and supports the rollout of PayTo, a new, national account-to-account payment network set to replace Direct Debit 

GoCardless, a global leader in direct bank payment solutions, has today announced the launch of PayTo University; a free online course designed to assist businesses of all sizes get up to speed with the Australia’s latest payment infrastructure, PayTo, which the New Payments Platform Australia (NPPA) launches today. 

PayTo is an instant account-to-account payment method that will replace Australia’s traditional Direct Debits in approximately three to five years, and is being welcomed by the payments industry as a game-changer for its smarter, safer and faster transactions. 

GoCardless’ new course, PayTo University, is made up of bite-size modules that allow learners to conveniently complete each chapter at their own pace. It combines video segments from key experts, information-rich content and interactive test modules to help users grasp the basics of PayTo and how it can enrich their business in the near future. 

According to Luke Fossett Director of Australia and New Zealand Sales at GoCardless, PayTo has been incorporated into GoCardless’ product roadmap since 2020 and the Australian team has actively been working with merchants over the past year to understand their needs and use cases. 

“We found that when we initially started pitching the benefits of PayTo to our customers, most of them had never heard of it before. Once we walked through the benefits, it was a no-brainer – but we realised most of our customers and prospects would require a simple, informative way of learning how PayTo can benefit their business specifically – and that would likely be true for the broader business landscape. 

“We believe most merchants will require more time, preparation and knowledge to be ready to switch across from the current technology in the coming months-to-years. Many of them require more support and a holistic, platform-driven approach to their payments setup. We hope that the launch of PayTo University, alongside hands-on assistance from the GoCardless ANZ team, will help to make this process as seamless as possible,” he said. 

“Of course, there’s no one-size-fits-all approach to payment infrastructure and for anyone seeking individual support to find out how PayTo might impact their business day-to-day, our team is always on-call to help.”

“The NPPA has done an excellent job of working with payment providers to introduce PayTo. However, it’s now up to us to drive education and awareness amongst merchants everywhere, and their customers. There’s still a lot of work ahead.” 

Interested parties can access PayTo Uni free of charge here. 

Once integrated across the Australian personal finance and banking space, PayTo will be able to potentially eliminate credit card fees, while reducing fraud and preventing failed payments in real-time while giving payees greater control with all PayTo mandates approved or modified directly from their banking app. 

The conventional Direct Debit system will eventually be replaced by this new network in the next three to five years. 

Like PayID, PayTo allows merchants and businesses to initiate real-time, verified payments from their customer’s bank accounts- except the customer now has full control over billing by authorising payments from within their banking app or online account. 

Unlike other payment methods, such as cards or BPAY, PayTo agreements are designed to be cost-effective and flexible. The system will also enhance the user experience of payments, which have traditionally been manual and prone to human error. 

The network’s rich data capability can also benefit accounting processes, which will lead to less headaches and administrative downtime for business owners. 

For more information about PayTo Uni, visit: https://gocardless.com/en-au/g/payto-university/

For more information about PayTo, see: https://payto.com.au/ 

About GoCardless 

GoCardless is a global leader in direct bank payment solutions, making it easy to collect both recurring and one-off payments directly from customers’ bank accounts through direct debit and open banking. The GoCardless global payments network and technology platform take the pain out of getting paid for 70,000 businesses worldwide, from multinational corporations to small businesses. Each year GoCardless processes over US$30 billion of payments across more than 30 countries. GoCardless is headquartered in the UK, with additional offices in Australia, France, Germany and the United States. For more information, please visit www.gocardless.com and follow us on Twitter @GoCardless.

FinTech Voice: Finnie Awards – June 30, 2022

Dear Community,

It’s been an exciting fortnight with Finnie award winners announcement at the Gala night in Melbourne. Congratulations to all the winners and finalists. Pictures and videos from the night are also now available. Thank you to all for making it a huge success.

It’s business as usual at FinTech Australia. We will strengthen our focus on driving the policy agenda with the new Government. We will also be engaging with all the regulators to discuss the key priorities.

Our immediate priority is regarding the independent review of the Reserve Bank of Australia (RBA). we welcome this review and support a holistic consideration of the RBA’s performance and mandate. We are also excited about the launch of Payto. While we wait for the banks to enable it to their customers, we look forward to the ramp up of the system and use cases that come from it. We will be advocating on behalf of our members for reforms of payment regulation alongside decisions about CDR.

We are also close to finalising the program for Intersekt this year. It’s going to be bigger than ever and will have more updates to share soon. Early bird tickets are now available for purchase. If you have any suggestions, please reach out.

We’re headed to our next meetup in Brisbane on 13th July. Register early as we have limited space for the event.

For any queries, feedback or suggestions please reach out to us.


Rehan D’Almeida,
General Manager,
FinTech Australia

The Council of Financial Regulators

The Council of Financial Regulators highlighted in their release about their immediate focus areas including debanking, crypto assets, stablecoins (& payments), CHESS replacement, dispute resolution, interest rates, & sustainability & climate disclosure standards.

Thank you to all the members who participated in the debanking roundtable. We will continue to engage with the Council and individual regulators.


🤝🏻 Monetary Authority of Singapore is hosting its Global FinTech Hackcelerator 2022. It is a great opportunity for fintech companies to gain access to some of the fastest growing markets in Singapore and the region. Applications open till 10 July. For more info, visit here

📇Open Banking Excellence (OBE) has joined forces with Accenture, the UK Government’s Department of International Trade (DIT), Innovate Finance, NatWest and the University of Oxford to develop a first-of-a-kind global Open Finance Index. The index helps to understand about Australia’s domestic readiness to develop Open Banking and Open Finance ecosystems. Take part in their quick survey here.


🤝🏻 Stone & Chalk powered by Pivott presents the Pivott Talent Jam. Get a chance to pitch your company and ideal candidate criteria in under a minute. Passionate jobseekers will then participate in a speed networking session – 5 July. Get your tickets here

💻 Stone & Chalk will be opening a Scaleup Hub at Tech Central in July 2022 to power scaleups that are shaping Australia’s economic future. This is Stone & Chalk’s second Hub in Sydney. To know more about the tour of the hub, visit here


Don’t miss all the news and insights from our members and corporate partners from our newsroom.

  • Mambu partners with CommsBank to develop Unloan, the CBA group’s new digital home loan
  • WeMoney Announces Winners of Inaugural Personal Loan & Car Loan Awards
  • Zai waives PayTo fees, saving Australian businesses thousands of dollars
  • TreviPay has teamed up with payment processor Compaynet to power its B2B trade credit product
  • Link4 is expanding its services to the United States with the support of an export grant through the Government of South Australia.
  • Bendigo and Adelaide Bank partnered with Sandstone Technology to transform and streamline their loan processing systems and processes.
  • Lensell releases an article – part of 4th in the in the “OpinionaTech” leadership series
  • Nano announces major B2B expansion plan to bring fast, digital mortgages to all

Superapp Bano partners with Currencycloud to simplify finance for Australia’s Gen Z

Currencycloud, the experts in simplifying business in a multi-currency world, has been chosen by Bano, the new Australia-based financial superapp aimed at making finances easier for Millennials and GenZ internationals, to launch its FX Converter to make remittance easier and less costly for its users and their families.

The newly-launched FX Converter is integral to Bano’s goal of simplifying finances for Millennials and GenZers and their friends and family, wherever they are. Its all-inclusive financial superapp gives people the ability to split bills with friends, make requests for payments, use a physical or digital Bano Visa card, use an overdraft feature and take advantage of the new stock trading function. In line with Bano’s customer-first approach, the superapp offers its users bonuses such as cashback, rewards, and promotions. For example, when a person makes a payment with their Bano VISA card, they receive up to 1.8% cashback, a fee most banks keep.

By partnering with Currencycloud and integrating its APIs directly into its financial superapp, Bano has access to Currencycloud’s low FX rates, providing its users with some of the lowest FX rates in Australia, and the lowest AUD to USD conversion rates in the country. The low rate means Bano can offer Australians the lowest cost for US Stock Trading through its investment product. The easy-to-set-up superapp is ideal for travellers visiting from abroad, with users able to access more than 35 currencies which they can easily send and receive within the app in real-time, commission-free. They can convert any of these currencies instantly into Australian Dollars or vice versa.

Says Randall Maccan, Head of Financial Markets and Treasury at Bano: “Bano is committed to simplifying financial management for Australia’s GenZ and Millennials. Enlarging the breadth of our superapp services with products like the FX Converter is a key part of this mission. Our partnership with Currencycloud has meant we can create a product that will provide a much-needed service for our customers, especially international students in Australia.

Says Rohit Narang, Managing Director of APAC  at Currencycloud: “Bano wants to create an easier financial life for Australians and the internationals living there. Like Bano, we are committed to making finance accessible to everyone. The FX Converter helps people instantly access funds without high fees, and we are delighted to be part of this solution.”

Notes to editors


Currencycloud: Matt Rowntree: matt.rowntree@currencycloud.com (EMEA) / Fiona Kwen: fiona.kwen@currencycloud.com (APAC)

Bano: Brandon Foo: brandon.foo@banosuperapp.com

Bano website: www.banosuperapp.com/en

Currencycloud website: www.currencycloud.com

About Bano

Bano is a leading Fintech company based in Australia that aims to simplify finances for the Gen Z and Millennial audience. Today, Bano’s features include split bills, requests, FX conversion, and multi-currency accounts. With every update, Bano strives to bring out new services that the audience may want or need. Bano is a company for our customers, as Bano continuously finds ways to help them save money by giving away cash-backs and not charging hidden fees.

About Currencycloud

Banks, Fintechs and businesses everywhere can make bigger, better, bolder leaps with Currencycloud, a Visa solution.

Currencycloud gives businesses the capability to move money across borders, and transact globally in multiple currencies, fast. Experts at what they do, their technology makes it easy for clients to embrace digital wallets, and to embed finance into the core of their business – no matter what industry they’re in.

Since 2012, Currencycloud has processed more than $100bn to over 180 countries, working with banks, financial institutions and Fintechs around the world, including Starling Bank, Revolut, Penta and Lunar. Based in London with offices in New York, Amsterdam, Cardiff, and Singapore, Currencycloud works with partners including Visa, Dwolla, GPS and Mambu to deliver simple, clear cross-border infrastructure solutions for clients. They are regulated in the UK, Canada, US, the EU and Australia.

Nano announces major B2B expansion plan to bring fast, digital mortgages to all

  • Mortgage approval in minutes on track to become industry standard
  • More top banks to move to this new service standard using Nano’s digital loan origination platform
  • Nano aims to drive fastest ‘time to yes’ across the world in global expansion

Australia’s first true end-to-end digital home loan lender, Nano, has announced the launch of its Nano Lending Solutions business, set to power lenders across Australia, and around the globe in a major B2B expansion drive.

While Nano’s own digital consumer lending business continues to grow rapidly, the increasing demand from other lenders to match the speedy, paperless application and digital decisioning to improve their own offering and customer experience, is now core to Nano’s strategic direction.

“The technology platform we have built is scalable, cost effective, and radically improves a lender’s ‘time to yes’, and with this, the customer experience,” said Andrew Walker, Co-Founder and Chief Executive of Nano.

“The new battleground in lending is “time to yes” and Nano Lending Solutions is the global benchmark. Rapid, seamless and near instantaneous decisioning is moving from being a differentiator, to a baseline capability. Approvals in minutes, not days or even weeks, will quickly become the expectation of both customers and brokers.”

“The Nano Lending Solutions platform is not just a digital application, which is a handed to a loan officer or credit underwriter to review. The platforms proprietary algorithms drive digital approval as well – meaning we can unconditionally approve loans without any manual intervention, creating the world’s fastest time to yes,” he added.

Nano’s B2B operation, Nano Lending Solutions, licences its lending origination platform to other banks and large non-banks, enabling them to provide their customers with faster loan approvals, and a step change in customer experience.

“Our technology is available to lenders who want to accelerate their digital innovation and not be left behind, as the market shifts to a new service standard,” Mr Walker said.

 Nano’s unique technology platform automates the whole loan application and decision-making process, streamlining the property finance market with the aim of eliminating all the stress and anxiety borrowers generally experience while waiting for a loan approval.

AMP Bank relationship accelerates innovation

Earlier this month AMP Bank announced a major platform relationship with Nano, enabling it to begin offering a digital mortgage to customers in the third quarter of 2022.

Following AMP Bank, Nano is also working with another Australian bank to deliver new customer and broker experiences that leverage its advanced technology by the end of this calendar year. Details of this partnership will be announced closer to launch date.

“Not only were we first to market with our technology in providing customers with a loan decision in under 10 minutes, unlike our competitors including the major banks, there is no paperwork required.”

“This has put us materially ahead of the market and has been a key pillar of our rapid growth,” said Mr Walker.

Global B2B expansion now in focus

Global expansion is also now firmly on the horizon in Nano’s B2B growth plans.

Mr Walker explained: “If you look at the United Kingdom, Canada or the US, the problems with the lending industry are the same as in Australia. Old traditional banks have a significant market share and power. Consumers are fed up with their archaic, confusing, slow processes. Some have improved incrementally, but true innovation in lending origination is still lacking. In-bound enquiries from players in these markets has accelerated our international plans.

“The UK, for instance, is reporting that buyers are snapping up properties twice as quickly as in 2019, so there is increasing pressure there on lenders to work quickly,” he said.

“Our technology platform will speed up loan approvals for the whole financial system and create the next generation of market leaders, leaving those who only compete with low rates, vulnerable during this inflationary market” Mr Walker concluded.

Media enquiries:

Louise Priddle


+61 458 751 023


About Nano Digital Home Loans 

Nano is an Australia-based financial technology company that provides rapid and seamless digital lending solutions. Its main B2B business, Nano Lending Solutions, licences a technology platform that enables financial institutions to offer a fast, paperless, digital decisioning solution that cuts processing costs and significantly improves the customer experience.

Nano’s B2C business, Nano digital home loans is licensed to provide loans under the National Consumer Credit Protection Act. It employs Nano’s advanced data and innovative digital technologies to offer consumers better financial services exemplified by simplicity, fairness and innovation. It holds an Australian Credit Licence (ACL) 511406.

Nano is deeply committed to continuous, digital-first innovation that enables its clients, whether business or individuals, to make smart money moves. For further information please see: www.nano.com.au

Lensell: You could be leaving money on the table if you didn’t optimise

You could be leaving money on the table..

In this article, the 4th in the in the “OpinionaTech” leadership series by the LENSELL team, a novel hypothesis is launched that may be challenging for many investors and investment managers.

The article shows that regular optimisation of the asset allocation in an investment portfolio produces better returns long term compared with the ‘regular rebalancing to the original weights’ approach. Even more interestingly, in some cases (like the test one) the regular rebalancing to original weights could be overtaken by a “buy and hold” approach. 

That proves that blanket investment strategies do not work – to get better returns, investment managers need to consider individual portfolio compositions and how those can be optimised for investors’ benefit.

Further research is in progress, but you can read the article and check the preliminary results.

Read the full article here.


In this article we float a hypothesis that challenges the status quo and the traditional portfolio rebalancing approach. That is, we hypothesise that regular optimisation of the asset allocation in a portfolio produces better results than regular rebalancing of the same portfolio to its original asset allocation. Moreover, we hypothesise that regular optimisation of the asset allocation also produces better results than a “buy and hold” approach.

Investment managers explain portfolio rebalancing as “the process of realigning the weightings of a portfolio of assets. Rebalancing involves periodically buying or selling assets in a portfolio to maintain an original or desired level of asset allocation or risk” [2]. We argue that this approach may produce less efficient results than regular portfolio optimisation.

Arguably, the declared goal of rebalancing to the original asset allocation is to minimise the risk for a given level of expected return [3]. However, this approach is not suitable for the investor in an accumulation phase, whose goal is to get a return as high as possible for an acceptable level of risk (depending on their personal risk tolerance level).

This article analyses the two hypotheses above and shows some very interesting results:

  • for the test portfolio considered, regular optimisation of asset allocation to an Optimal Portfolio position produces better results overall than a ‘buy and hold’ approach, and
  • for the test portfolio used, the ‘buy and hold’ approach produces slightly better results than regular rebalancing to the original weights.

Let’s see how we got to those results.

For this study,

  • To avoid selection bias, we picked 5 ETFs from the ‘Top 20 ASX trades in May 2022 from Sharesight users’ [1], that have a share price history of more than 6 years. We shortlisted VAS, VGS, VTS, NDQ and IVV.
  • We considered a test portfolio valued $100000 at 31/05/2016, where each ETF was equally weighted, i.e. 20% ($20000) each.
  • We made the following working assumptions: a $10 transaction cost applies for each buy/sell transaction required at optimisation / rebalancing time; a min 1% and a max 99% weighting constraints applied on optimal portfolio calculation.

We studied the following 3 scenarios:

Scenario 1 – starting with 1/06/2016 and every 6 months until 1/06/2022, we optimised the asset allocation to the Optimal Portfolio* position. This was performed using the Diversiview application.

Scenario 2 – starting with 1/06/2016 and every 6 months until 1/06/2022, the portfolio was rebalanced to the original asset allocation (i.e. 20% weight for each ETF).

Scenario 3 – starting with 1/06/2016 and until 1/06/2022, no change was made to the original portfolio.

*Optimal Portfolio (OP) is that portfolio position (combination of weights) that minimises the total portfolio risk and maximises the total portfolio return at the same time.

For all three scenarios, the performance was tracked over the 6 years in terms of: total portfolio value, average portfolio return and portfolio volatility.

Figure 1 and Table 1 below show the total portfolio value in each of the 3 scenarios, and some interesting observations can be made:

a) By 1/06/2022 the test portfolio ended up with a total value of $214,130.63 in Scenario 1 (regular optimisation to the Optimal Portfolio position), approx. $27795 more than in Scenario 2 (regular rebalancing to the original asset allocations) where the total portfolio value at 1/06/2022 was $186,334.65.

b) In Scenario 3 (no change to the initial portfolio) the portfolio value at 1/06/2022 was slightly higher than the amount in Scenario 2 (rebalancing to the original asset allocations) by approx. $2000.

Also, portfolio values were almost equal for Scenario 2 and Scenario 3 during the 6 years, which makes them difficult to differentiate on the graph. A slightly higher difference can be noticed after the March 2020 market crash.

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Figure 1 Graph of total portfolio value in each of the 3 scenarios

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Table 1 Total portfolio value in each of the 3 scenarios, at 6 months intervals.

The first finding, a), can be explained if we consider that the Optimal Portfolio position is that asset allocations that maximise the expected portfolio return and minimise the portfolio risk (volatility) at the same time. That means that the total expected return of the portfolio will be higher for that allocation that for any other allocation.

For example, Figure 2 below shows the portfolio position in Scenario 2 (rebalancing to equal weights) on the left, and the portfolio position in Scenario 3 (optimal portfolio) on the right – as at 1/12/2021. As it can be noticed, at that date the expected return in Scenario 3 was more than 7% higher than in Scenario 2, at the expense of an increase in the expected volatility of around 4%.

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Figure 2 Test portfolio’s risk-return position in equal weights scenario (green dot, left) compared with the optimal portfolio scenario (red star, right) as at 1/12/2021

Note: As one might notice, in the optimisation solution (Fig2, right), some ETFs were allocated 1%. That is because we assumed min 1% and max 99% for weighting constraints (see beginning of the article). If other constraints were used, a solution that observes those constraints would have been calculated.

The second finding, b), can be explained if we look at the correlations between individual investments in the portfolio. Four (4) of the 5 ETFs are strongly correlated (see Figure 3), which means that their market prices would have moved up and down pretty much at the same time during the 6 years studied, therefore resulting only in small deviations from the original asset allocations. The largest contribution to deviations from original allocations were likely brought by the pairs of ETFs less correlated, i.e. VTS-VAS and VAS-IVV.

Due to this, the difference in value between portfolio in Scenario 3 (no change) and Scenario 2 (regular rebalancing to original weights) were caused by the transaction fees charged in Scenario 2 at each rebalancing date.

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Figure 2 Correlations between the 5 ETFs in the test portfolio. Higher values indicate stronger correlations.

The two findings above are sustained by the average return and volatility results (see Figure 3), where Scenario 1 looks the best and Scenarios 2 and 3 have very similar results.

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Figure 3 Average return and volatility for the test portfolio in the 3 scenarios

As it can be noticed in Figure 3, in all scenarios the annualised volatility was higher than the geometric (compounded) average return, with the lowest difference in Scenario 1.

Conclusion & further work:

Our first hypothesis, that ‘regular optimisation of the asset allocation in a portfolio produce better results than regular rebalancing of the same portfolio to its original asset allocation’, was confirmed in the case of the test portfolio.

Our second hypothesis, that ‘regular optimisation of the asset allocation also produces better results than a “buy and hold” approach’, was also confirmed.

One could legitimately argue that these results cannot justify a generalised conclusion due to the inherent limitations of the test portfolio at hand.

We believe that the results supporting the first hypothesis in this case were quite strong, therefore we will continue the research to see whether a more generic conclusion can be reached. We will consider more scenarios, including but not limited to:

  • larger portfolios, consisting of mixed investments (stocks, ETFs, bonds etc)
  • more diversified portfolios
  • longer time duration
  • different weighting constraints for optimisation
  • different starting weights for the test portfolios
  • different frequency for optimisation and rebalancing
  • compare a Minimum Risk Portfolio approach instead of the Optimal Portfolio approach, for retired or conservative investors.

If you wish to be informed when the results of the further research are published, please subscribe to our newsletter. Alternatively, give Diversiview’s portfolio optimisation feature a try and see how it can apply to your portfolio.

For any questions please contact the LENSELL team at info@lensell.online.

Check out the previous articles in this series:


Episode 1 – To risk or not to risk – a conflict of (investing) emotions.

Episode 2 – What’s driving investors, mind or emotions?

Episode 3 – Is high level portfolio diversification enough?


Contact the team with any questions at: info@lensell.online or hello@diversiview.online.

Subscribe to LENSELL’s newsletter to stay in touch and receive future articles and updates.

Bendigo and Adelaide Bank Enhances its Lending Ecosystem

The Challenge

Bendigo and Adelaide Bank partnered with Sandstone Technology to transform and streamline their loan processing systems and processes. With legacy lending systems and a growing broker channel, Bendigo and Adelaide Bank’s Third Party Banking Division identified the need to transform and remediate its loan processing systems. The bank needed to find a solution which would support the growth of its lending business, better serve its mortgage origination partners, and improve the customer experience.

The Solution

Bendigo and Adelaide Bank wanted to implement a one-platform, one-process approach to processing loans that would cover all of its Third Party origination channels and limit the exposure to existing legacy systems. Together with Sandstone Technology, the Bank has achieved quicker loan processing through Sandstone’s Loan Origination platform (LendFast) which is integrated with the bank’s lending ecosystem.

Wanting to eradicate manual loan processing tasks for both the Bank and its brokers, Bendigo and Adelaide Bank worked with Sandstone to identify where processes could be automated as much as possible. This included implementing eligibility rules and lending criteria filters within Sandstone’s LendFast platform which drove efficiencies in processing times.

Bendigo and Adelaide Bank together with Sandstone sought a way to further simplify the broker experience to allow a more automated capability to submit loan increases and product conversions in addition to new business. Simultaneously, brokers receive more value-adding information from the Bank via enhanced back-channel messages in real-time at the point of submission. The result is fewer touchpoints, a significant reduction in rework, and an improved experience for brokers, which aligns to some of the critical success factors within the current transformation program.

The results

The collaboration between Bendigo and Adelaide Bank and Sandstone Technology has helped facilitate some long awaited and significant enhancements within the Bank’s Third-Party division. It has achieved a one-way approach to the way the Third Party division assesses and processes loan applications and enhances the experience for its broker channel, partners, and customers.

  • Indicative approvals have doubled since we implemented indicative decisions
  • Manual review of auto declined applications is at 10% compared with 100% pre implementation
  • Variation applications are up 27% compared with the same period in 2021

Darren Kasehagen, General Manager of Third-Party Banking at Bendigo and Adelaide Bank said the collaboration with Sandstone Technology has been a successful one for the Bank.

“We strive every day to be a better bank, not just for our valued customers – but also for our brokers,” Mr Kasehagen said.

“With legacy lending systems and a growing broker channel, we identified the need to transform our loan processing systems to better support the growth of the Bank’s lending business, better serve our broker channel, and improve the overall customer experience.

“It’s simple for us – we are trying to make it as easy as possible for our customers and our brokers to work with us, and this digital transformation is making that job a lot easier.

“Our collaboration with Sandstone Technology has helped us streamline our loan applications, improve turn-around times, and increase our loan approvals.

“It’s also enhanced and improved the partner experience, reduced operational risk and costs, and ensured an 80% reduction in reviewing declined applications,” advised Mr Kasehagen.

Sandstone Technology’s Poli Konstantinidis, Executive GM, Origination AI & ML echoed Mr Kasehagen’s comments.

Mr Konstantinidis commented, “Lending today is not just the end-to-end journey from origination to settlement. It now requires the appropriate balance of an engaging user experience across all channels, with speed to value and responsible lending for the bank. This subsequently enables the bank to differentiate itself from its competitors”.

Read the case study here https://bit.ly/3niyZsD

About Sandstone Technology

For more than 25 years Sandstone Technology has been innovating and evolving financial solutions for some of Australia and the world’s largest banks and financial institutions. From digital banking and digital onboarding to loan origination and AI-based intelligent document processing, our scalable, robust, end-to-end solutions using a multi-channel approach helps our customers get to market faster.

For all media enquiries contact:

Jennifer Harris
Head of Marketing & Business Intelligence
Mobile: +61 412 508 035

Global competitor: US expansion to provide Adelaide finance tech firm Link4 with a $28m boost

An Adelaide-based financial technology company is set for global success, with a US expansion expected to provide it with $28m in revenue within the next three years and drive local jobs.

Link4 is expanding its services to the United States with the support of an export grant through the Government of South Australia.

The Lot Fourteen-based company specialises in e-invoicing, which allows invoices to be exchanged through electronic documents.

The system is automated and simplifies the invoicing process while eliminating the need for a paper trail. Demand for e-invoicing services has surged in recent years, with businesses like Link4 set to reap the revenue benefits.

Since launching in 2016, Link4 now services more than 4000 businesses across Australia and overseas. The company is hoping to become a pioneer within the American financial-tech market and provide businesses with greater security and protection from scams.

“We are a leading e-invoicing provider in Australia, New Zealand and Singapore, we actually do have a good global reputation already,” says Link4 chief executive officer Robin Sands.

“Going into the North American market shows that we will be one of the competitive players on the world stage.” E-invoicing is a new concept in the US, but the government’s grant will allow Link4’s technology to be available in the US by 2023. “They’re supporting us because it provides that future jobs opportunity, which is important for the young ones entering the workforce in SA,” says Sands.

Link4’s growth will also benefit the community back home. “Our head office is based in Adelaide so any increase in business will be felt locally – in jobs and spending,” says Sands.

While global development is exciting, Sands says it is important that Link4 stick to its roots by continuing to support small businesses. “E-invoicing is being adopted by more and more countries every year, and in every country, there’s a lot of small businesses, and often these ones are ignored,” says Sands.

“More than 95 per cent of businesses are small businesses. So, they have to be addressed.” Financial technology is also more affordable than traditional invoicing methods.

“On average (it) costs $30 to process a normal invoice, $27 to process a PDF and $10 to process an e-invoice,” says Sands. “We’ve created a way where (businesses) can sign up online within two minutes and be active with invoicing.”


Five Fintechs On Friday – June 24, 2022

The new edition of the five fintechs on Friday is here!

Firstly, thank you all for attending Australia’s most prestigious fintech awards Finnies 2022. It was great to have leaders and industry stalwarts gather under one roof. We congratulate all the winners for their accomplishments and thank all the sponsors for their support. For more information on the winners, visit here

News from the industry…

FinTech Australia signed up five new major corporate partners, securing a total of 11 partnerships within the past five months. Zai waives PayTo fees, saving Australian businesses thousands of dollars. TreviPay Helps Compaynet Power B2B Trade Credit


Below are five fintechs to know about this fortnight!


Amfin is one of the fastest growing Finance Companies in Australia. They however, would call themselves a customer experience business first – they just happen to solve their challenges or meet their needs through finance products. Since their inception in 2017, they have secured exclusive asset finance partnerships with industry leading organisations, accounting for approximately 40% of the total mortgage broker market. Amfin provides streamlined asset and cash flow finance in the consumer and commercial space as well as asset sourcing, insurance and commercial property solutions. Combined with a personalised application process, product matching technology and client portal, their experienced team have helped tens of thousands of clients to purchase assets and secure funding to help grow their businesses. Amfin’s mission is simple; to deliver a customer experience like no other.



BankiFi is a technology company that enables banks to reimagine business banking and help small business customers to thrive. BankiFi’s platform seamlessly connects to multiple sources of financial data, can be white-labelled and is ready to go “out-of-the-box.” It transforms the bank channel into the go-to place for businesses to manage their financial needs. Small business customers can get a complete picture of their finances and use their mobile or internet banking service for bookkeeping, invoices, payments, collections and setting aside tax – not just checking an account balance. The result is “embedded banking” and it’s a powerful win/win for banks and their small business customers.


Ebonex is a newly launched Crypto exchange dedicated to creating a seamless trading experience for Australians. Ebonex prides itself on being customer centric, secure, and transparent. Ebonex is committed in ensuring that all Australians have equal opportunity in understanding it and leveraging it. Women, people of colour and those who have a lower socio-economic status, were never included in previous financial institutions. As a result, they were unable to profit from it and when these institutions dictated social structures, their voices and needs were not considered. Ebonex is here to ensure all Australians know, because knowledge is power and power, should be equally accessible.

Think and Grow

Think & Grow are partners for bold technology businesses, helping tech startups compete globally in a world of rapid change, with a variety of services targeted for different stages and the people-side of growth. These services include Retrained (a digital upskilling and people-focussed program), Advisory (growth consulting), Land & Expand (international expansion) and Talent (exec & board search + onsite). Think & Grow was born to provide support to the ecosystem we identified as missing to help Australian businesses scale globally, and have worked with a number of early to high-growth Australian Fintech companies such as Zepto, Unhedged, Afterpay, Zip, Banxa, 1derful, Immutable, and have brought companies like GoCardless, Square and Stripe to Australia.

Nano Digital Home Loans

Nano digital home loans is a technology company that is disrupting the lending industry with a fully end-to-end digital home loan. Nano offers refinancers and property buyers full approval in minutes, not weeks, eliminating the stress and anxiety that comes with waiting for home loan approval. Since their launch in June 2021, Nano has achieved Australia’s record fastest home loan approval in less than 10 minutes, and just last month, announced that their technology will also power AMP Bank’s digital mortgage.

Check out our previous issues here!

FinTech Australia Announces 2022 Finnies Award Winners

Monoova, Nano Digital Home Loans, BTC Markets, Wagestream, Tanggram, and Up are among the biggest winners of the seventh annual FinTech Australia Finnie Awards.

In a nod to the fintech industry’s growth, for the first time in the awards’ history, no company won more than a single prize.

FinTech Australia CEO Rehan D’Almedia said: “When I first started working on the Finnies, we had a handful of companies cleaning up several awards.”

“Now, thanks to the level of competition and diversity in the market, companies are lucky to win a single award. It’s yet another indicator as to just how much the sector has grown and matured in such a short time.”

“It’s much harder to win a Finnie than ever before. On that note, we’d like to congratulate all of the winners, but equally celebrate all of the finalists as the calibre of entries was high across the board.”

Payments firm Moonova was named FinTech Organsiation of the Year, while Nano Digital Home Loans picked up Emerging FinTech Organisation of the Year. Tanggram won the Best Workplace Diveristy Award.

Dominic Pym from Up was named FinTech Leader of the Year. BTC Markets CEO Caroline Bower won Female FinTech Leader of the Year and Wagestream co-founder and CEO Josh Vernon was awarded Emerging FinTech Leader of the Year.

FinTech Australia also inducted its first individual — Reinventure co-founder and partner Simon Cant — to the Hall of Fame, joining industry leaders Airwallex and Afterpay.

Cant and his business Reinventure were instrumental in early funding and growth of Australia’s VC ecosystem, as the first dedicated fintech VC firm in the country.

“We could not think of a more worthy individual to be inducted into our Hall of Fame,” D’Almedia said.

“Many of our winners this year, such as Flare and Zai, are flourishing due to early backing from Reinventure. While many fintechs received funding from Simon’s firm, countless others have benefitted from his advice and guidance over the years. He was was also instrumental in capturing initial government support and focussing attention on fintech and regulation. Simon is a true asset to our ecosystem.”

Media contact

Harrison Polites

0409 623 618

About FinTech Australia

FinTech Australia is a national association for the Australian FinTech Startup community. Our vision is to make Australia the leading market for FinTech Innovation and Investment by working with both sides of Government, Industry and the Australian FinTech community to create a supportive environment and partner ecosystem in Australia and abroad.



Best Workplace Diversity – Tanggram

Emerging Fintech Leader Of The Year  – Josh Vernon, Wagestream

Female Fintech Leader Of The Year – Caroline Bowler, Btc Markets

Outstanding Fintech Leader Of The Year – Dominic Pym, Up

Excellence In Establishing Market Presence: Global – Wise

Excellence In Industry Collaborations & Partnerships – Flare

Excellence In Business Lending – Octet

Excellence In Consumer Lending  – Driva and Wisr

Excellence In Payments (Including Remittance/Fx)  – GoCardless

Excellence In Blockchain/Distributed Ledger  – Civic Ledger

Excellence In Crypto And Digital Currencies/Wallets/Exchanges – Crypto.Com

Excellence In Insurtech  – Koba Insurance

Excellence In Regtech  – FrankieOne

Excellence In Wealth Management (Including PFM And Robo)  – Raiz Invest

Excellence In Open Data  – Frollo

Excellence In Fintech Support Services –    Astero

Deal Of The Year – Zai

Best Partnership Of The Year  – Slyp & Divipay

People’s Choice – Emerging Fintech Organisation Of The Year – Betacarbon

People’s Choice – Fintech Organisation Of The Year – Hnry

Emerging Fintech Organisation Of The Year  – Nano Digital Home Loans

Fintech Organisation Of The Year  – Monoova

Hall Of Fame Inductee – Simon Cant, Reinventure Group

An interview with the finalists of the Finnies Awards – Excellence in Support Services with Till Payments

In the lead-up to the 6th annual Finnies Awards, we speak to some of the category’s finalists for Excellence in Support Services. 

The Finnies Award celebrates the best of Australia’s thriving Fintech industry, commending the most inspiring, innovative and ground-breaking work of the past year within our sector. Uniquely, the ‘Excellence in Support Services’ category recognises organisations that enable the fintech community to achieve growth and innovation by assisting with operational or business services or by providing access to spaces, connections or capital. 

Who are the category finalists?

This year, the finalists for Excellence in Support Services span across various disciplines, from King & Wood Mallesons, K&L Gates and The Fold Legal providing support in the field of law, governance, and compliance to Birchal and Fundsquire enabling access to all-critical funding to RSM, Astero and Think & Grow sharing expertise in cybersecurity, risk management, finance and growth. 

Fintech support services are the backbone of our community. The finalists represent just a small selection of the professionals and organisations who exist to uplift our burgeoning fintech community and we at Till Payments, are proud to be sponsoring the award to shine a light on these deserving candidates.  


At Till, we understand the power of community. In fact, without the support of our staff, investors and the broader fintech community, we know there’s a limit to our success. The nominees each do their part to move our industry forward, so we ask them to tell us why supporting the fintech sector is an important mission for them…


Matt Vitale, Co-founder & MD, Birchal

Fintech is a sector where Australia truly punches above its weight. The quality of fintech companies founded in Australia, and the innovative products and services they have created should make us all extremely proud. As a relatively stable nation, with a robust and highly regarded regulatory framework, the opportunity to re-shape the future of financial services from Australia is exciting and inspiring in equal measure.

Damien Petty, CEO & Founder, Fundsquire

Fintech continues to alter financial services, and has helped in quicker, more transparent, sustainable progress by empowering underserved populations and businesses. Bringing together more individuals and businesses together, the Australian fintech industry continues to push forward the growth potential of the country’s economy. 

Darren Booth, National Head of Cyber Security & Privacy Risk Services, RSM

The diversity in the organisations makes the projects interesting, but the main thing is the people in the Australian FinTech industry are world class. It’s great working with people who have the knowledge and passion to make a change through the products they that developed.

Michele Levine, Special Counsel and Jaime Lumsden, Partner, The Fold Legal

The fintech industry promotes innovation, change, consumer-centric and human-designed products and services and competition. The Fold Legal has always been an avid supporter and ally for change and innovation. We see the fintech industry as a key growing market and want to partner with fintechs that are challenging the status quo and bringing in a new wave of innovation.


Effective collaboration and strategic partnerships breed excellence in support services. As an open organisation, Till fully appreciates the positive impact that collaboration can have on growth and innovation so we ask our finalists to share insights into what makes them a great partner…


Urszula McCormack, Partner – Cross Border Finance and Technology, King & Wood Mallesons

Because we listen, we understand what people are trying to achieve, which means we’re better able to assist them on the how. The story of fintech is the story of courage and experimentation – so we work with everyone from start-ups right through to unicorns and the world’s largest banks. KWM’s focus is on enabling the creativity of our clients to launch big ideas, run successful transactions and resolve any dramas as they arise.  For each matter, we build a team of KWM lawyers with the right mix of skills and experience to craft solutions that meet their objectives.

Sandeep Kumar, Founder & CEO, Astero

Each fintech has specific cyber security risks and growth plans, and we work closely with our clients and their stakeholders to understand their businesses and provide practical solutions. Astero’s innovative approach to cyber security and deep experience in the fintech industry also makes us a great partner in the broader ecosystem. For example, our joint ‘CDR in a box’ offering for the Consumer Data Right (CDR) and Open Banking is an end-to-end solution developed in partnership with fellow FinTech Australia members Adatree, AssuranceLab and DNX.

Darren Booth, National Head of Cyber Security & Privacy Risk Services, RSM

We understand the challenges facing entrepreneurial, growth-focused, FinTech organisations. Whether it is audit, tax or cyber security, our experience means that we understand what needs to be done and how to do it as efficiently and effectively as possible. This allows the FinTech to focus on their core purpose.

Matt Vitale, Co-founder & MD, Birchal

At Birchal, as a regulated fintech organisation ourselves, we’ve experienced first-hand many of the issues our fintech clients need to traverse on their journeys. As a highlight on this point, we recently used our own platform to raise capital for ourselves in the same way our clients have done. 

Equity crowdfunding is new in Australia, but the potential value it can add to fintechs and others by delivering fast and efficient capital to businesses cannot be overstated. As a new industry though, a large part of our role is to educate the market and a variety of stakeholders about what we do.

Damien Petty, CEO & Founder, Fundsquire

Fundsquire works with expansive, best-in-their class partners, and we are committed to forming trusting relationships, successful outcomes, open communication, and growth for all involved. Our approach to integrated services offers not just a wealth of resources to our clients, but also early engagement and retention opportunities for our partners.

We understand that no growth path is the same for two businesses. Which is why for our customers, we strive to create this deepened partner community, which offers a broad toolbox of connections and perks to take their business to the next level.

Michele Levine and Jaime Lumsden, The Fold Legal

We don’t just answer the question asked – we aim to understand our partner’s objectives, drivers and design solutions that help them achieve their objectives (even if it is the solution that they did not envisage). Our solutions provide speed to market and flexibility for expansion in a cost-effective way. This may mean taking a staged approach or building out a product and service road map for the short to medium term. 

We’re known for our technical expertise and industry knowledge that we leverage to provide practical solutions for our clients. We are experts in niche and emerging areas and we are sought out in areas where few others have the expertise or experience and are trusted by clients when they want to break new ground or enter a new regulated environment.  

What sets us apart is that we aren’t just lawyers – we put our extensive network of business relationships at the service of our clients to connect them to the people and services they need.  We see ourselves as an ecosystem partner that harnesses opportunities for fintechs.

The pace of innovation has accelerated and what better way to wrap up the conversation than to look into the crystal ball at the next 12 months. What do our finalists think will have evolved in fintech support services to drive competition and add more value to the fintech sector?


Urszula McCormack, Partner – Cross Border Finance and Technology, King & Wood Mallesons

It is such an exciting time, with enormous opportunities for those willing to dive in and do the work.  In Australia, we have a whole new payments and crypto legal and regulatory framework on the cards.  Over the next 12 months, it will be essential to have advisors on your side who are actively involved in policy development to drive long-term strategies.  This is a big focus for us in Australia and internationally.  In the meantime, we’re seeing a big drive on securing licences and registrations under existing Australian regimes, so traditional experience plays a very valuable role.  Secondly, the fintech sector is global – many of our clients are building their regional and global strategies.  So being able to assist clients with the “where in the world” question is key.  For our private capital clients, the question becomes “who in the world” and strategically executing with our colleagues across markets.  For technical service providers, the most critical attribute is being able to build products and services that help fintech players efficiently meet their growing and changing regulatory obligations around the world. 

Darren Booth, National Head of Cyber Security & Privacy Risk Services, RSM

 There are macro level economic challenges over the next 12 months, which will further focus the need of support services to provide value for money through practical advice based on experience working through different types of challenges.

Matt Vitale, Co-founder & MD, Birchal

We’re heading into a very different business environment over the next 12 months, particularly for capital raising. Support services, like the businesses they support, will need to adapt to these new conditions. Support services that are able to deliver capital to businesses to get them through this stage of the cycle will be hugely valuable.  

Sandeep Kumar, Founder & CEO, Astero

We think that the recent growth of the fintech industry and ongoing regulatory reform over the next 12 months will see new entrants providing fintech support services. Increased competition will be favourable for fintechs given the current economic outlook, and specialised services will help fintechs stay ahead of the curve to deal with increased regulatory complexity.

 Damien Petty, CEO & Founder, Fundsquire

We believe the rise of embedded finance will dominate the future of Fintech. It will support and push businesses who previously were not Fintech adopters to use it. We strongly feel that this new support will empower businesses, provide them with flexibility, more possibilities and help them capitalise on these new opportunities. Embedded Finance definitely plays a big role in where we see the future roadmap of the Fundsquire platform and product.

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