EpisodeSix: Winning Strategies to Deliver Digital Banking Customer Journeys

By Ian Kerr

The global pandemic has undoubtedly catalysed the drive to digitisation in  Financial Services. There was an increasing trend to move to digital banking  already, the pandemic has accelerated this by perhaps a decade, and across all  age groups. Traditional banks were already being challenged to step up,  under pressure from neobanks whose slick user experiences delivered  through mobile offerings raised customer expectations. Simultaneously, the  way that payments are made and transactions are settled is also changing  fast. The emergence of crypto-currencies as a mechanism to store and  transfer value also needs to be taken in to consideration by mainstream banks  who are typically constrained by legacy applications that were never designed  for this type of customer interaction and transaction processing. There is a real  and pressing need for banks to support digital customer payment journeys  using technology that capitalises on the capabilities and data bound into  legacy applications but insulates their deficiencies. This is where Episode Six’s  Tritium platform brings unrivalled value to help banks innovate digital  solutions.  

Our modern, cloud native platform delivers valuable key capabilities:  

A multi-asset class ledger and digital wallet management that enables the  transfer of value through a range of mechanisms – true multi- fiat currency,  crypto currency and other tokens such as loyalty and reward points Market leading configurable products, with a user-driven design tool so  business users can easily customise product attributes from their laptop such  as FX margins, fee structures, risk profiles and compliance safeguards all in real  time without waiting for lengthy development cycles 

This functionality is all accessible through an API framework for integration  with mobile apps, web portals and adjacent space applications and networks  such as card rails, payment gateways, KYC/AML and FX and liquidity providers. 

The E6 implementation approach, in the Cloud or on-premise, delivers  unmatched speed to market and ongoing innovation via a high degree of  configurability. Legacy applications have been the beating heart of banks for  many years, decades in some cases, and there is a reticence to make changes  that could have ripple effects across the organisation in terms of cost and risk.  E6 Tritium delivers a modernised, digital banking customer experience  working co-operatively with legacy applications without unnecessary  operational disruption. Banks can embark on digital transformation in timeframes that are not possible in evolving existing technology or starting  projects from scratch.  

There is a compelling business case waiting to be unlocked through  innovation, competitive differentiation, customer retention, growth and  acquisition. In fact, there is an urgent need for financial institutions to upgrade  existing payments infrastructure to meet changing consumer expectations  and regulatory requirements. There is a lot at stake here, too: $250 billion  worth of payments revenue could move to nonfinancial institutions by 2030 if  banks cannot keep up, according to IDC’s estimates. 

Mainstream banks can compete more effectively against neobank  challengers, with risk mitigated by adopting leading, proven technology.  Financial services propositions are developing faster than ever before, any  delay in moving forward leaves money on the table. 

Ian Kerr  

Ian Kerr is the Director of Business Development for Episode Six. Ian has over  30 years’ experience in financial technology in a range of organisations starting  with NCR and including IBM, payments and banking solutions providers. Prior  to joining Episode Six, Kerr was the CEO at Bolero, a Software as a Service  platform for global trade where he led new initiatives in digitisation, Supply  Chain Finance and logistics. Earlier in his career, Kerr was the COO at a  payments gateway company and led a payments focused testing solutions  division at Clear2Pay.

Wisr appoints new Non-Executive Director, Cathryn Lyall, to the Board

Wisr Limited (ASX: WZR) (ACN 004 661 205) (“Wisr”, or the “Company”) is delighted  to announce the appointment of Cathryn Lyall to the position of Non-Executive Director, effective 01 January 2022. 

The move follows the Wisr Board’s previously advised commitment to growing with appropriate talent as the  Company grows in scale and complexity, with the appointment of Mr Matthew Brown as a Non-Executive Director  in September 2021, adding further depth to Wisr’s governance capability.  

Cathryn’s appointment will bring her immense financial services and fintech industry knowledge, providing the right  level of experience to make the Company robust and well prepared for the next period of growth in 2022. Partner  at Seed Space Venture Capital, Co-Founder of not-for-profit Seed Money Australia and London-based SEIS and EIS  funds company, Seismic Foundry, Cathryn’s extensive 34-year career in the Australian and British Financial Services  sectors includes roles at the Chicago Mercantile Exchange, Nasdaq and the London Stock Exchange. Most notably,  Non-Executive Director Deutsche Bank UK Bank, sitting on the Bank’s Board Risk Committee (BRC), the Listed  Derivatives Risk and Compliance Committee (LDRCC), and the Nomination Committee as Chair. 

The recipient of numerous awards and accolades, including Finalist Qantas Australian Woman of the Year in the UK,  Cathryn is also an Independent Non-Executive Director FinTech Australia, Lead Independent Non-Executive Director  Hutly, Non-Executive Director Boulevard Global, Non-Executive Director The Index Mortgage Company, Non Executive Director the Australian National University Foundation UK and Advisory Board Member of Financy.  

Wisr Chairman, Mr John Nantes, said, “On behalf of the Wisr Board, I would like to welcome Cathryn to Wisr. Her  depth of experience, strategic advisory, leadership and business acumen across finance, banking, government  and fintech will be invaluable as we grow Wisr into a profitable company of significant scale and impact in the  Australian consumer finance market in 2022. Cathryn’s appointment is an exciting opportunity for the business,  stakeholders and customers as we build on the success of 2021.”

Cathryn said of her appointment, “I’m delighted to be joining one of Australia’s most innovative and exciting  fintech companies. Chief Executive Officer Anthony Nantes and the talented, high-performing Wisr Executive  Leadership Team have delivered exceptional innovation, strong execution, and impressive behaviour-driven

culture. It’s an exciting time to be part of the next phase of the Wisr journey, as the company’s purpose-driven  model brings about real change to the way Australians access fairer credit and improve financial well-being. I’m  looking forward to supporting Wisr’s growth and path-to-profitability in 2022 and beyond.”

Cathryn holds a Bachelor of Arts from the Australian National University and a Master of Arts in English Literature  from the University of New South Wales. 

Wisr Limited ACN 004 661 205 

55 Harrington Street, The Rocks NSW 2000 

This announcement has been approved in accordance with the Company’s Continuous Disclosure Policy and authorised for release  by the Board of Directors. 

For further investor enquiries, please contact: 

Vanessa Chidrawi 

Company Secretary 

E: investor@wisr.com.au  

About Wisr Limited  

Wisr (ASX: WZR) is Australia’s first neo-lender with a commitment to the financial wellness of all Australians through providing a  smarter, fairer and wiser collection of financial products and services. Wisr provides a unique Financial Wellness Platform  underpinned by consumer finance products, the Wisr App to help Australians pay down debt, multiple credit score comparison  service, combined with content and other products that use technology to provide better outcomes for borrowers, investors and  everyday Australians. 

For more information, visit www.wisr.com.au


The world’s first blockchain-based water market will go live in Far North Queensland mid-2022 to address growing water security issues and protect fair access to water

The Cooperative Research Centre for Developing Northern Australia (CRCNA) is partnering with Civic Ledger, FNQ Growers, and Inclusive Growth Partners to de-risk agriculture development with grower-led water markets across Northern Australia.

Civic Ledger will test the paradigm of next generation water markets at scale by establishing the platform to enable the Mareeba-Dimbulah Water Supply Scheme (MDWSS) in the Atherton Tablelands, far north Queensland, to move to its blockchain-enabled water market and trading platform – Water Ledger.

Water Ledger is the world’s first blockchain-based platform for the accounting and trading of water entitlements and allocations. The result is a more open, transparent, and publicly verifiable system to support improved water management and enhance the water trading experience with water rights that are clearly defined, enforceable, and transferable.

“The CRCNA and Civic Ledger are working together on the rollout of Water Ledger in the MDWSS as “a strategic research test-bed” that has applicability across Northern Australia for real time continuous water accounting and grower-led trading. Our aim is for water markets that implement transparent governance frameworks and support the sustainable economic development of Northern Australia,” says CRCNA CEO Anne Stünzner

The partnership will explore the interconnectedness between water market design and institutional governance goals to address water security and social equity issues relating to water access.

“Industry and agricultural communities need to have confidence in Northern Australia’s emerging water markets,” says Far North Queensland Growers’ President, Joe Moro. “We are working closely with CRCNA, Civic Ledger, and Inclusive Growth Partners to design place-based governance models that support emerging grower-led water markets in Northern Australia.”

“The nation relies on our avocados and mangoes – we need a water market platform that we can trust, so that the crops that we plant today have the water they need tomorrow,” he continued.

“We expect new economic opportunities to be developed in Northern Australia through enhancing water market governance and participation,” says Managing Partner of Inclusive Growth Partners, Cassian Drew. “Our place-based investment and governance platform will support growers, indigenous Australians and investors to create and participate in new opportunities enabled by Water Ledger and the work of FNQ Growers and the CRCNA.”

During 2020, Civic Ledger conducted the world’s first pilot for trading temporary water allocations on the blockchain in partnership with the CRCNA and FNQ Growers in the MDWSS. 

MDWSS is in Far North Queensland, Australia. Water from Tinaroo Falls Dam is distributed by gravity to farms, dwellings, and townships through 176km of main channel and a further 189km of subsidiary channels. There are five balancing storages to supply 1000 water users growing diverse crops including sugar cane, mangoes, bananas, pawpaw, citrus, and avocados.

“We at Civic Ledger are thrilled that the outcome from the pilot was so positive,” says Civic Ledger CEO, Katrina Donaghy. “Now, we are excited to continue our partnership with CRCNA and FNQ Growers, building a lively peer to peer water trading culture in Far North Queensland that fosters the sustainable development of Queensland’s tropical heartland.” 

Blockchain is an emerging way for industries and government to make and verify transactions, streamlining processes, reducing the potential for error and fraud. 

Blockchain supports water markets with its ability to provide a verifiable record of exchange and ownership of a water allocation at any given time. A key advantage of blockchain is that as a system it is owned by all those who participate in the water market. No one can have more information than another meaning that it cannot be operated in the interest of only a few.

During the 2019-20 pilot, Water Ledger reduced trade times down from months to mere days – the time that it took to get trade approval from the market operator, as the actual trades on the blockchain only take seconds. Most importantly, it published the last traded price in real time – no price, no trade.

Water resources around the world are becoming scarcer and it’s vital that we protect them with the absolute best in management practices,” says Civic Ledger CEO, Katrina Donaghy. “We are confident that Water Ledger is best-in-class to deliver the most reliable solutions to mitigate future uncertainty and ensure water security across Northern Australia.”

“It’s vital that we only use the most accurate and trustworthy data in making water management decisions and blockchain technology helps us do that. The planned adoption and scale-up of the Water Ledger will be enable the emergence of an efficient and active grower-led water market in Northern Australia for decades to come.”

Civic Ledger, CRCNA, Inclusive Growth Partners and FNQ Growers will work together over the year to assist more than 1,000 growers onto the Water Ledger platform. Moving the MDWSS onto Water Ledger is expected to be completed during Q2, 2022, with the results from the project published in a report at the end of 2022. Moving the MDWSS water markets onto Water Ledger is the precursor to scaling blockchain-enabled water markets across Northern Australia.


Multi-award-winning technology company Civic Ledger is building trust layer solutions for the water markets of tomorrow.

Civic Ledger provides blockchain solutions to enable a sustainable revival of growth. With Civic Ledger technology, water, carbon, nutrients, and biodiversity will be able to be securely and transparently accounted for – how much we have, how much we share, and how much we use.

We work closely with environmental market operators, regulators, utilities, traditional owners, industry and the agricultural sector to ensure solutions that are comprehensive, responsible, intuitive, and future proof.

Our team is distributed across Asia, Europe, and Australasia, and will soon be growing into the US. In 2021, we were the only Australian company accepted into the World Economic Forum Technology Pioneers cohort.

www.civicledger.com, www.twitter.com/civicledger


Water Ledger is the world’s first blockchain-based platform for the management and trading of water. The result is a more open, transparent, and publicly verifiable system to support improved water management and enhance the water trading experience with water rights that are clearly defined, enforceable, and transferable. 

As a peer-to-peer trust layer solution, Water Ledger eliminates the need for third parties to intermediate between buyers and sellers, drastically reducing the complexity of water trading. Water Ledger’s enables secure ecosystem growth as more water related activities – from water utilities to water recycling – transition to blockchain-based solutions. 

www.waterledger.com, www.twitter.com/waterledger


The Cooperative Research Centre for Developing Northern Australia (CRCNA) is investing $75m of Commonwealth funds over ten years to support industry-led research collaborations. The funding will develop new technologies, products and services which address industry issues in Northern Australia.

The CRCNA brings together industry, universities and other research bodies, SMEs, regional development organisations, all northern jurisdictions and international partners in a collaborative industry-led research and development venture to assist businesses, governments and researchers identify opportunities for business and growth in the north.



FNQ Growers is the leading advocacy group for fruit and vegetable growers across Far North Queensland. We represent growers of all horticultural commodities from Lakeland in the north, south to Tully and west to Dimbulah.

www.fnqgrowers.com, www.twitter.com/fnqgrowers


Inclusive Growth Partners supports investors, businesses and governments achieve economic transitions and asset transactions that deliver inclusive economic growth. We advise on investments in climate adaptation, technology and energy transitions, as well as asset divestments and responsible exits. We enable ongoing environmental, social and governance performance of public and private assets through our place-based investment and governance platform.

Inclusive Growth Partners is engaged with clients across the financial services and institutional investment sector, energy, infrastructure and sustainable cities, natural capital asset management, and the public sector. Our work includes advising on economic transitions of coal mining cities, agricultural transitions, improving governance over water and natural capital assets, and supporting investors to measure and drive both financial and non-financial performance of assets. Inclusive Growth Partners provides a technology platform and team of senior advisors operating globally to solve systems challenges where multiple organisations need to work together to deliver outcomes for people and planet. 



CRCNA Communications Manager, Carla Keith, 0499 330 051

Civic Ledger Marketing Manager, Akasha Rose, akasha@civicledger.com

FNQ Growers President, Joe Moro, 0418966960

Inclusive Growth Partners, Cassian Drew, cassian.drew@inclusivegrowth.com.au

Project Participants 

  • Inclusive Growth Partners
  • FNQ Growers

DiviPay raises $20 million Series A to fortify its full-stack spend management suite for SMEs

DiviPay, the Sydney-based start-up that offers all-in-one spend management for small-to-medium sized businesses, is advancing its aspirations with a $20 million Series A.

The round was led by an undisclosed global fintech-focused growth equity investor, with participation from Global Founders Capital, and Rapyd Ventures – the new venture capital arm of Rapyd. The round also included prominent founders such as Raffael Johnen from Auxmoney, who leads the largest credit marketplace in continental Europe, and Guy Pearson, the founder of Tiger Global-backed accounting and client engagement platform, Practice Ignition.

The Series A funds will be used to expand DiviPay into new international markets, and further build out DiviPay’s holistic product offering. Headcount is set to rise at least fourfold from the existing team of 20 over the coming year.

Beginning life as Australia’s first all-in-one expense management solution, DiviPay has grown to now serve over 1,000 companies. DiviPay offers access to an integrated corporate card for the small to mid-market, who often struggle to access traditional cards via the banks.

To proactively manage expenses, DiviPay’s cards are seamlessly tied to an intuitive platform where finance can flexibly set budgets and spending allocations for users – the platform also delivers other in-built spend management features.

And to close the reconciliation gap, DiviPay provides powerful integrations into leading accounting platforms to automatically assign the expenses at the point of purchase to the correct accounting code.

Hundreds of hours of manual work have been saved by switching from traditional corporate cards and reimbursements to DiviPay’s integrated spend-management solution.

Customers are increasingly realising the benefits of DiviPay’s offering, with the company reporting growth of over 300% in the past year.

Clients include Australia’s best-known unicorn Canva, fast-growing fintechs, including Superhero and Eucalyptus, and more established companies, such as Slater and Gordon and Michael Hill.

DiviPay also proudly serves the third sector, including not-for-profit organisations and charities, and currently works closely with Uniting AgeWell and the Autism Association of Western Australia.

In recognition of their rapid growth, DiviPay recently won ‘Best Payment Innovation’ at the 2021 Finder Awards.

Daniel Kniaz, DiviPay’s CEO comments: ‘DiviPay helps finance leaders control who can spend company funds, how much they can spend, and where they can spend it – we deliver transparency, security and autonomy in expense management.

‘I’m really proud and excited about DiviPay’s latest funding round because it gives us an opportunity to work with some great investors in fintech to further develop our mission, and to rapidly expand our footprint in terms of team, product, and location.

‘With tech at the forefront of recent changes in the working world, 2022 was always going to be a big year for DiviPay. This funding round allows us to make an even more significant impact on the market – fintech is definitely the place to be right now!’.

Tito Costa, Partner at Global Founders Capital states: ‘We loved how DiviPay entered the expense management space focusing on an easy-to-use, powerful software product and on that foundation we believe the opportunities for expansion are endless. We are excited to back the team in their next phase of growth.’

Joel Yarbrough, MD of Rapyd Ventures says: ‘Rapyd Ventures is thrilled to partner with Divipay, a leading expense management software in Australia. We are excited with what Daniel and Russell are building to help businesses and SMEs transform payment flows and financial software in the region.’

Background information

  • Daniel Kniaz is available for comment
  • Previous funding:
    – 2016, DiviPay received $100,000 in funding from H2 Ventures when they joined its fintech accelerator program.
    – 2019, DiviPay received the first instalment of $2.3 million in a funding round led by 1835i (ANZ Bank’s venture capital arm). The consortium of investors included Seed Space ventures and former Pepper Money CEO Patrick Tuttle. The funding enabled DiviPay to build its engineering team and execute its product vision.
    – 2021, DiviPay received an additional $1.7 million in its funding round led by 1835i. The funding was used by DiviPay to build its marketing, sales and engineering teams, and ensure it had the resources needed to grow and broaden its customer base.
  • Further information on Global Founders Capital and Rapyd Ventures available on request

Find out more about DiviPay here.

Five Fintechs On Friday December 17, 2021

AFF is Asia’s premier platform for global leaders in government, finance and business to exchange insights, intelligence as well as to explore business and investment opportunities. A community of 66,000+ viewers, investors, fintech innovators and entrepreneurs hailing from 80+ countries and regions. The 15th Asian Financial Forum on 10-11 January 2022 will not be one to skip. Don’t miss the chance to attend a dynamic event packed with impactful exchanges and showcase of a wide array of next-gen #fintech solutions. Grab the exclusively discounted tickets with promo code JMP47D (Exclusive to our community). Register here.

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

This is the last newsletter on Five FinTechs on Friday for the year as we wrap up before the break, We wish you a very happy holiday season and prosperous new year

But first, news from the industry…

Visa, the world’s leader in digital payments, recently unveiled a new research showing the case for crypto is getting stronger for financial institutions. Square, Inc. recently announced that it is changing its name to Block

Further, MyBond is officially launching its rental bond services with a new website refresh & series of videos demonstrating a cool new alternative to playing rental bonds and Open was recently announced as Australia’s 7th fastest growing company in AFR Fast 100


Below are five fintechs to know about this fortnight!


Codat is the universal API for business data. The real-time connectivity that Codat offers enables software providers and financial institutions to build integrated products for their SME customers. Codat’s clients range from corporate card providers to business forecasting tools and lenders, and use cases include auto-reconciliation, business dashboarding, and loan decisioning. Codat was founded in 2017 and has offices in London, New York, and San Francisco. This month, Codat announced its expansion into Australia with the opening of its Sydney office, the appointment of Matthew Tyrrell as APAC Commercial Director, and a partnership with Judo Bank to simplify the way Australian businesses share information with financial service providers.

Fenergo enables financial institutions to deliver seamless customer onboarding experiences while satisfying regulatory obligations by automating compliance. Our SaaS Client Lifecycle Management platform digitally transforms and streamlines end-to-end client lifecycle processes – from regulatory onboarding, data integration, client and counterparty data management, Know Your Customer (KYC) reviews and remediation, to client offboarding. Our API-first ecosystem of channels, systems and data providers enables financial institutions to deliver truly frictionless customer journeys. At Fenergo we stand out for our deep expertise in financial services and community-based approach to solution development which mutualises the cost and effort of regulatory compliance. Discover more here

Monoova partners with businesses, payment apps & platforms, to support them managing large transaction flows. They enable businesses to fully automate how they receive, manage & pay funds, 24/7, 365 days per year. Its proprietary real-time, secure platform allows businesses to access a variety of payment functions, instant automatic reconciliations, & easy-to-access reporting – so they can secure & stay in control of their payment ecosystem. Find out more here: www.monoova.com Whether you need a solution or advice across the New Payments Platform(NPP), Bpay, Direct Debit, PayTo, Automatcher, API or anything in between, they have what you need. If you are looking for a pioneer, market leader & partner you can trust for your payment solutions, get in touch for a no obligation, confidential chat – https://www.monoova.com/contact

Haventec enables seamless and secure customer authentication for FinTech organisations. Our award-winning platform, Haventec Authenticate, provides a genuinely passwordless technology that eliminates passwords and shared secrets. Easily integrate Haventec Authenticate with your existing IAM solution and leverage single-step multi-factor protection without multi-factor friction. We would love to show you how we transformed security and experience at Australia’s 1st digital bank and ways we can help you achieve outstanding CX. Visit our website today to book a personalised demo.

Fundsquire is a global source of capital that invests in innovative businesses in Australia, the UK and Canada. We work closely with our customers to offer straightforward, personalised, non-dilutive funding through R&D tax credit loans, government grant funding and revenue based financing. Transitioning from a startup to a scaleup, our own journey motivates us to create unique solutions that empower businesses to take control of their funding timeline for accelerated growth. Over the past year, Fundsquire has doubled its investments in category-leading businesses. This rapid growth has been enabled by strategic expansion of team and operations along with technology platform development. Fundsquire also brings its customers an expansive network of partners and perks to enable seamless funding options for businesses at all stages of growth.

Check out our previous issues here

Fundsquire partners with Railz to offer an integrated, quicker, and transparent funding platform

Fundsquire, a source of capital for startup and scale-ups globally, has partnered with Railz to supercharge its funding platform, offering Fundsquire’s global customers a seamless and powerful experience. Fundsquire has integrated Railz’s API solutions to augment its funding platform, access comprehensive accounting data, and provide a transparent lending process for businesses accessing growth capital from Fundsquire.

“As an early adopter of the Railz integration, we are excited to take our partnership further. We have grown tremendously in the last few years, and as a global business, we need global solutions to better serve our customers. Railz is going to be a key pillar of our evolving tech ecosystem as we continue to boost our platform in line with our growing product portfolio and customer base.” – Damien Petty, CEO & Founder at Fundsquire

With this partnership, Fundsquire sets itself apart in the global funding and fintech landscape. This platform, which has been live since early 2021, is a key step towards furthering Fundsquire’s goal in leveraging technology to de-risk lending, give customers insights into factors guiding their funding, and enable on-demand access to financial transactions and reports.

Over the past year, Fundsquire has doubled it’s investments in category-leading businesses – a rapid growth enabled by strategic expansion of funding solutions and operations along with tech development. Fundsquire recently received $75 million AUD (£40 million) strategic investment from Fasanara Capital and launched the Grant Advance funding solution.

“Railz’s Accounting Data-as-a-Service™ API partnership with Fundsquire’s funding platform aims to support Fundsquire in making the lending process transparent. It’s incredibly impactful that businesses can access quick and seamless capital through Fundsquire with the Railz integration.” – Sohaib Zahid, CEO of Railz

Find the details about the platform here

New report highlights the role of fintech in bridging financial divides in Asia Pacific

  • Asia is home to nearly half of the Top 20 global fintech hubs
  • 45 fintech hubs were identified across the Asia Pacific region – nine more than last year
  • Hong Kong, Singapore and Sydney ranked first, second and third in the Asia Pacific city fintech rankings
  • The report from findexable, powered by Mambu, includes in-depth case studies on Vietnam and Indonesia

SYDNEY, 16 December 2021: Fast-paced fintech innovation in Asia Pacific is having a measurable, positive impact on access to financial services in the region, according to a new report from findexable, powered by Mambu, titled ‘Asia Pacific Fintech Rankings: Bridging Divides’.

The report, which provides an APAC-centric deep-dive into the Global Fintech Rankings released mid-2021, highlights the vital role fintech innovation has in closing the gaps between the ‘banked’, ‘underserved’ and ‘unbanked’, particularly in countries which may have low levels of formal financial inclusion, but high levels of smartphone ownership and internet penetration.

Simon Hardie, CEO & co-founder at findexable, said: “The 2022 rankings of Asia Pacific fintech hubs are testament to the region’s diversity, ingenuity, and commitment to innovation. With 45 hubs across the region (one third more than in 2020) – fintech firms across Asia Pacific are proving fintech is the engine of the digital economy. More importantly, as this report shows, fintechs are showing that building successful businesses should go hand in hand with contributing to wider financial inclusion and development goals.”

Myles Bertrand, Managing Director at Mambu, said: “We’ve seen an astounding acceleration in the rate of fintech innovation across the region over the past year, and while some of that was a direct result of the pandemic, the adoption of new financial technologies is now being driven primarily by consumer demand. Consumers across Asia Pacific have experienced how digital banking technologies can make their lives easier, with a huge range of faster, more convenient and much less expensive ways to manage their money. So, we’re seeing a rapidly growing number of previously unbanked consumers who are now able to participate in the formal economy.”

Bryan Carroll, CEO of innovative Vietnamese digital-only bank TNEX, who was interviewed for the report, agreed with this assessment, adding: “We have customers whose annual income may be less than $2,000. These are people who, in the past, wouldn’t be able to afford banking.”

The report, which includes in-depth looks at Vietnam and Indonesia, and commentary from a number of Asia Pacific fintech leaders, identifies the countries and cities leading the fintech charge in the region, including Jakarta, which jumped 27 places in the city rankings this year, and New Zealand, which rose 15 places in the country rankings to sit inside the top 10 for the first time. Also unpacked in the report are some of the new financial technologies – particularly in the payments space – that are changing the way that people across the Asia Pacific region manage their money, where cash has been relegated from its long-held position of king.

However, while fintech innovation is increasing at pace, old roadblocks remain and new barriers arise frequently, with the report highlighting some of the issues faced by fintechs due to the region’s complex regulatory framework and the disparity in economic maturity of different countries.

“Asia is home to nearly half of the Top 20 global fintech hubs identified in the report, but the differing regulations from country to country can be a real hindrance to multinational growth in the region,” continued Bertrand. “Each country’s central bank or government has its own agenda, so it’s incredibly important for fintechs to work collaboratively with the regulators in each country to understand their concerns, and to help support the creation of mutually beneficial ecosystems that support innovation. That’s what’s going to truly drive continued improvements in financial inclusion.”

The Asia Pacific Fintech Rankings: Bridging Divides report is available to download here.

For further insight and commentary into the findings of the report, download the webinar-on-demand Fintech in Asia – Defining Success at Scale, which discusses the booming fintech landscape in Asia Pacific and  features Simon Hardie from findexable, Myles Bertrand from Mambu, Bryan Carroll from TNEX, Arvind Sankaran from AFG Partners, and Yosia Sugialam from Paper.id.

 About Mambu

Mambu is the world’s only true SaaS cloud banking platform. Mambu fast-tracks the design and build of nearly any type of financial product for banks, lenders, fintechs, retailers, telcos and more. Our unique composable approach means that independent components, systems and connectors can be configured any way our customers require to meet their customer’s needs. Founded in 2011, Mambu has 800 employees​ and ​200 customers globally, including N26, OakNorth, Tandem, ABN AMRO, Bank Islam, BancoEstado, League Data and Orange Bank. mambu.com

About findexable

Findexable is a global research and analytics firm on a mission to digitise investment in fast-growth private market fintech. Regardless of location. Using real-time mapping and indexation technology, findexable maps and scans markets, and provides latest insight on the innovators, innovations and trends in financial technology.

The Global Fintech Index is the world’s first real-time indexation of global fintech ecosystems and companies scoring the strength of fintech ecosystems globally across 85 countries and 275 cities using a proprietary algorithm and proprietary datasets via a network of global partners.

FinTech Voice December 16 – Sponsored by Asian Financial Forum (AFF)

It’s almost the end of 2021! We’ve accomplished a lot together and we are committed to advocating for the industry and building opportunities for collaborations. We thank you all for your amazing support and feedback.

This is the last newsletter for the year as we wrap up before the break. You will hear from us again on January 13, 2021. We wish you a very happy holiday season and prosperous new year.

With respect to policy, we have some exciting updates to round out the year! Following our final CDR webinar for the year, we are excited to announce that Federal Government released our Transforming Australia’s Payment System report this week. We have submitted our drafts in relation to the Online Privacy Bill and Government’s latest Modern Business Communications consultation.

We look forward to continuing our work on the Privacy Act in the new year with our draft submission for the general Privacy Act consultation in mid-January 2022.

Our new FinTech Australia Podcast episode on CDR: A Discussion and Introduction released this week.

If you have queries or require any additional information, the team is always available.

Finally, we welcome our newest member this fortnight – CHIPPER CASH, GREYTHORN ASSET MANAGEMENT, MYLENDA AND HELPPAY.


Rehan D’Almeida
Head of Partnerships and Marketing
FinTech Australia

AFF is Asia’s premier platform for global leaders in government, finance and business to exchange insights, intelligence as well as to explore business and investment opportunities. A community of 66,000+ viewers, investors, fintech innovators and entrepreneurs hailing from 80+ countries and regions. The 15th Asian Financial Forum on 10-11 January 2022 will not be one to skip. Don’t miss the chance to attend a dynamic event packed with impactful exchanges and showcase of a wide array of next-gen #fintech solutions. Grab the exclusively discounted tickets with promo code JMP47D. Register here.

CDR Report

To see which recommendations from the Future Directions Inquiry were accepted (totalling 94 out of 100 accepted or partially accepted) check out the Government’s latest report.

Privacy Act Consultation

We are seeking final pieces of member feedback for the Privacy Act component of this review

We have also submitted the Online Privacy Bill section

Modernising Business Communications Consultation – Technology Neutrality

We have sent in our final submission to the Government

📖 Join the Fintech in Vietnam Program delivered by Asialink Business in association with Department of Industry, Science, Energy and Resources (DISER) and Austrade – a comprehensive online training series for Australian business leaders in the Fintech sector who are exploring opportunities to plug-into Vietnam’s fintech market. Learn more about the program and apply today! Use code FINTECHAUS100 for free registration!

💲 FinTech Australia is partnering with FINTECH21a two-day, two-stream program on Blockchain & Crypto and Fintech Trends. Book your tickets for Australia’s largest fintech event of 2022 – 23-24 March 2022. Also, reach out to us for speaking and exhibiting opportunities. Use Code FAU15.

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

  • Visa, the world’s leader in digital payments, recently unveiled a new research showing the case for crypto is getting stronger for financial institutions
  • WeMoney surveyed 1,046 Australians to uncover their thoughts about money and gauge their overall sense of financial wellness
  • Episode Six Co-founder, John Mitchell shared his opinion on Why the metaverse will go far beyond Meta in his recently published article in Nikkei Asia
  • CreditorWatch data: Recovery to take longer than expected; Perth and Brisbane bouncing back quickest
  • Square, Inc. recently announced that it is changing its name to Block. Block will be the name for the company as a corporate entity
  • Open announced as Australia’s 7th fastest growing company in AFR Fast 100
  • Swyftx announced a major two-year partnership with the Brisbane Lions.
  • According to YouGov research commissioned by Dacxi, Australians look to crypto for wealth building as four in ten see real estate as a bubble
  • Monoova and the NPP: Reimagining the real-time reconciliation of Accounts Payable and Accounts Receivable
  • loans.com.au makes car finance faster through connected insurance with Open
  • Thought Machine raises $200m in Series C funding to bring world’s banks to the cloud
  • Openmarkets goes live on GBST’s Australian Retail Clearing Platform
  • MyBond is officially launching its rental bond services with a new website refresh & series of videos demonstrating a cool new alternative to playing rental bonds
  • RSM Australia recently released a report on Australia’s R&D tax incentive, timing it with its 10 year anniversary.

Wage advance FinTech, MyPayNow, reaches $500m lending milestone

Gold Coast based Fintech, MyPayNow, has officially lent out over $500 million in wage advances to  eligible, working Australians. 

Since inception in June 2020, MyPayNow has set out to solve the age-old problem of waiting for  payday by allowing its users to access a portion of their pay early. In only 18 months of business, the  company has accumulated over 270,000 user accounts with the app downloaded over 400,000  times.  

In October 2021, it was announced that the company would upgrade as the Principal Partner across  the NRL & NRLW teams of the Gold Coast Titans, as part of an initial landmark 3-year deal. More  recently, MyPayNow have joined the Titans’ Physical & Intellectual Disability Rugby League  Program, which is one of many community programs delivered across the club. 

“Advancing $500m in 18 months is a massive achievement and we are proud to have reached this  milestone in such a short time, with our eyes set on lending $1b by the end of next year. We have  some really exciting plans in the pipeline for 2022 and can’t wait to share the news”, said  MyPayNow Managing Director, Bronson Powe.

About MyPayNow  

The MyPayNow app provides working Aussies with the freedom to access up to a quarter of their pay early, up to $1250. The  service is quick and easy to use – once funds are requested through the app, money lands in a users bank account in minutes.  The MyPayNow app is powered by custom built AI technology, which automatically assess’ a customers eligibility and  suitability by filtering through income, expenditure and spending behavior. Once approved and money is deposited, the wage  advance (plus a small 5% fee) is paid back via direct debit


 Pty Ltd | PO Box 823 | Surfers Paradise QLD, 4217 | ABN 34 635 410 909 

RSM: Australia’s R&D tax incentive Report

Research & development is a key engine of economic growth and competitiveness for many nations, including Australia.

It can develop new products or improve existing ones and improve the efficiency of an industrial process, allowing companies to survive and thrive in competitive international markets.

Australia’s R&D tax incentive – which provides a tax refund for smaller companies and a tax offset for larger companies – has a number of objectives

Firstly, the Government wants to encourage companies to carry out R&D they wouldn’t have otherwise carried out as well as stimulate economic growth through a couple of key concepts.

Secondly, it’s important for Australia’s R&D system to remain competitive, otherwise companies may take their work offshore to more tax advantageous jurisdictions. It aims to help more expensive jurisdictions better compete with others where costs and wages are lower or tax rates are preferential.

In this report, we perform a review of the last 10 years of the Australian R&D tax incentive, follow its evolution and identify areas for reform.

Download Report

Upcoming Events
  1. October 11 @ 6:00 pm - 7:00 pm
  2. Tech Industry Collective – Connect and collaborate as a collective

    October 25
  3. Singapore FinTech Festival (SFF) 2022

    November 2 @ 7:00 am - November 4 @ 6:00 pm

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