End of Year CEO Address

Dear Community, 

When I wrote to you from lockdown last year, we were facing a rather uncertain future. The success of some of our most prominent members was masking the pain felt by the majority of the sector. We heard a lot of rhetoric regarding digital transformation, but were uncertain whether this would include our industry, or was simply lip service.

Fast forward 12 months, and while the majority of us are still under lockdown, conditions are looking significantly better. We’re in the box seat to drive Australia’s economic recovery as the country begins to vaccinate itself. Our relationship with Canberra is the best it’s ever been. The sector is making waves both at home and abroad. 

As a result, FinTech Australia has never been stronger. In the past year, we’ve seen a 33 per cent increase in our total pool of members and also a 44 per cent increase in the number of corporate partners supporting us. These include some of the world’s largest technology companies, who have taken keen interest in our fintech industry.

With these extra resources, we’ve been able to dedicate more of our focus into our content and partnership initiatives. We’ve expanded the remit of our blog and content, partnered with AuzBiz to create Australia’s first dedicated fintech TV segment, held over 10 roundtable discussions with industry and expanded our relationship with AusTrade. In addition, we have become Austrade’s lead partner on the FinTech Global Initiative where we have become the first ever industry association to embed a Global Engagement Manager into our team.

This is alongside our ongoing positive engagement with the Federal Government which has seen changes to JobKeeper last year to better include high-growth companies, positive changes to R&D and the introduction of draft legislation that will allow intermediaries to participate in the CDR rollout. This is on top of the countless submissions we have made to the government on behalf of members. They are not falling on deaf ears either. The latest interim report from the Senate Committee on FinTech and Regtech saw over 75% of our suggestions translated into recommendations from the committee. 

All of this has also led to a more meaningful, influential and robust events program. Intersekt — our flagship event — had over 800 attendees this year, smashing all prior records. We have similar hopes for The Finnies,  which we unfortunately have had to postpone until September due to the latest COVID-19 outbreak.

It has been an incredibly busy 12 month. So much has happened — too much to mention here. Which is why we have summarised it in a Year In Review infographic, which is attached. 

There is much to look forward to in the year ahead. Alongside most of our members, I’m particularly excited for The Finnies in a few months time and the EY FinTech Australia Census to measure our industry’s growth. COVID may continue to plague Australia, and lockdown the country. Given our track record over the past year, I am optimistic that we will overcome any future challenges it poses to our sector and continue to reach the new heights as an industry. 

Where are the opportunities for fintechs to collaborate with banks?

Several exciting fintech/bank collaborations have been announced recently, notably Waddle/CommBank, Cashrewards/ANZ, Slyp/NAB and both Biza.io and Adatree respectively with mutual banks getting on board with open banking.

With memories still fresh from our fantastic 2021 Intersekt Festival that we held over two full days in May at Melbourne’s Grand Hyatt Hotel, we reflect that a major theme for this year’s conference was, in fact, Fintech/Industry Collaboration.

Reporting on our event for The Australian Financial Review, financial services writer James Frost said:

“The secret to developing a lasting and successful relationship with a bank as a fintech is to keep it simple, start small and address security concerns right off the bat,” (AFR 20 May 2021) referring to comments made by David Washbrook from Look Who’s Charging, Emily Nicholas from NAB and Justin Brown from ANZ on a panel moderated by Jennifer Harrison from Reputation Edge.

David Washbrook also recounted a literal “elevator pitch” moment when one of the ANZ team he was working with happened to be in a lift with ANZ boss Shayne Elliott and showed him a prototype of the app!

David helpfully summarised his experience into three top tips:

  1. Solve a clear problem – don’t boil the ocean
  2. At least initially, consider a fixed price licence model to provide certainty around your costs as people and companies on the whole don’t like surprises, and
  3. Be persistent!

Sophie Guibaud from OpenPayd joined via video to share a vision of a very particular form of fintech/industry collaboration where fintech smarts are totally embedded into a customer journey thanks to Banking-as-a-Service (BaaS) which she called “the AWS of finance.”

With the help of an aero-space analogy, Toby Norton-Smith from CommBank’s X15 Ventures explained the barriers encountered when an agile fintech (an X15) is harnessed to a legacy corporate (a B52).  He espoused that the key to success is thinking about compliance like a regulated entity.

Choosing a relationships analogy, with its clear stages of dating, courtship and commitment, Laura Ware from Visa helped Jacqui Colwell from Judo, Dom Pym from Up and Matt Baxby from Revolut to compare the banking single life (get your own licence) versus marriage (partner with a bank).

Anthony Baum from Tic:Toc, which partners with Bendigo and Adelaide Bank for fast online home loans, agreed that it’s vital to nurture the relationship side with the bank and not just showcase your product or customer proposition.

Some of the most intriguing insights on BaaS (which he thinks of as Backend-as-a-Service) were delivered by Kristofer Rogers from Mambu who exposed a schema of an unnamed bank’s home loan process to the scrutiny of the audience and asked:  “If there’s no obvious endpoint for an API, where does that leave fintech/bank collaboration?”

Kris pointed out the growing gap between a typical bank’s backend systems and the customer, which foreshadows a future-state where banks are the financial custodians and apps are the customer interface.  He commented that banks may have no choice but to collaborate with fintechs to execute an innovation strategy and marry their industrial strength with the best digital experience.

Both banks and fintechs know that big tech companies like Google and Apple, as well as social networks like Instagram and Snapchat, set the bar extremely high for customer experience.

And the pace of technological change is unrelenting.

The fintech ecosystem thrives on connecting the dots to deliver better solutions enabled via technology and delivered via collaboration.

The photo gallery from Intersekt bears witness to our amazing community in action, not just on stage sharing insights, but also building connections and establishing trust over coffee, drinks and dinner.

We’re looking forward to announcing the winner of “Best Partnership of the Year” at the Finnies.

We predict there will be many more exciting partnership announcements to come over the rest of 2021 as fintechs collaborate with each other, with banks, and increasingly also with other industries like retail and agriculture.

Watch this space.

 

Rebecca Schot-Guppy, CEO of FinTech Australia

Happy 1st Birthday to the Consumer Data Right!

Written by Rebecca Schot-Guppy, CEO of FinTech Australia

On Thursday, 1 July 2021, the Consumer Data Right (CDR) will celebrate both its first birthday and its next major milestone.  

We’ve made steady progress and we are now picking up pace.  At the time of writing, there are 12 Accredited Data Recipients and 8 Data Holders with many more parties at various stages in the approval process.  

It has been mandated for all non-major ADIs to share CDR data from 1 July 2021 unless exempted and the growing list of bank exemptions granted by the ACCC is currently longer than the list of approvals.  Whilst this is frustrating for the fintech community, it must be acknowledged that the overall success of the CDR regime requires the banks get it right by opening up robust APIs.  It’s a question of time.

The foundation is there and it’s proven.  Real-time consumer data is being shared, for example, Frollo has made c.9.5 million API calls.  As we embrace future directions such as action-initiation and payments, and as other industries like energy and telco join in, there will be a huge amount of growth and opportunity.   

Judging by the attendance and the number of speakers at Fintech Australia’s marquee Intersekt Festival at Melbourne’s Grand Hyatt in May, as well as the many discussions I had during the conference, open banking is very much a hot topic.  

Here are my highlights from the event:

  1. Over 40 guests attended an industry dinner hosted by Intuit at Supernormal vigorously discussing opportunities, challenges and use cases late into the evening
  2. It was standing room only at the round table by Tony Thrassis from Frollo on “Getting Started with Open Banking” where he emphasised the vital importance of knowing your use case, focusing on the journey beyond accreditation to live, and testing that the data you get is operationally valuable 
  3. Rob Hale from Regional Australia Bank and Stuart Low from Biza.io used the analogy of “A Bank and a Fintech go White Water Rafting” to describe their “dream partnership” to secure the bank’s data holder status
  4. Andy Parton and Mike Booth from EY succinctly summarised where we have come from, what we have achieved, and the road ahead with its opportunities for partnerships and new products (including the “killer use case”)
  5. It was also standing room only at the round table by Paul Franklin, Natalie Plumridge and Louise Dobson from the ACCC who shared that it takes about three months to get accredited (after submitting a complete application) and then around two months to onboard and pass conformance testing
  6. TrueLayer’s Head of Australia Brenton Charnley shared valuable insights from the UK as a predictor for Australia with “Say Hello to Open Banking Payments:  the what, the why and the how” and a prediction that, within the next 5 years, open banking payments will be the default way to move money online due to higher conversion, lower costs and better security, and 
  7. In a fireside chat discussing the critical enablers of the digital economy, the CDR’s author Scott Farrell from King & Wood Mallesons commented that inclusion and connection are deliberately recurring themes in his work, Jill Berry from Adatree endorsed the potential to protect vulnerable customers and Amanda Robinson from Australian Red Cross added equity.

Tony Thrassis from Frollo and Rob Hale from Regional Australia Bank deserve a special mention for leading the heavy lifting and championing a mindset of innovation over compliance. 

Australia’s fintechs are working hard to deliver the benefits of the Consumer Data Right to consumers and businesses, including choice, convenience and, most importantly, confidence.   

There’s more work to come as we figure out joint accounts, tiered accreditation, a sponsor/affiliate model and action initiation and Fintech Australia remains committed to being a leading voice on policy.

RSM Australia joins FinTech Australia as a Goldpartner

RSM Australia (RSM), one of the largest mid-tier accounting firms in Australia, has joined FinTech Australia’s corporate partnership program as a gold partner.

RSM is now the 10th company to join the program in a year. Other members include Amazon Web Services (AWS), Mastercard, EY, Facebook, Google, eftpos, IDEMIA, Regional Australia Bank and the Newcastle Permanent Building Society.

“We welcome RSM to our partnership program, which has gone from strength to strength over the past year, with each new member it becomes an even better offering for both companies and fintechs. FinTech Australia CEO Rebecca Schot-Guppy said.

“All the members of this program attended Intersekt last month and connected directly with thought-leaders and key founders in the ecosystem. This was one of our largest gatherings in the ecosystem to date, with over 700 delegates attending both in-person and virtually.”

“RSM’s services align very closely with the needs of the sector as it continues to raise capital and grow. We look forward to helping the company network and leverage its expertise on the key issues affecting the sector.”

RSM’s entry into the partnership program is an extension of the deep work the firm has been doing with the fintech industry.

“We have been advising clients at every stage of the lifecycle of a fintech start-up around Australia. Our fintech specialists are able to provide strategic and efficient solutions to navigate constantly evolving platforms and technologies as well as regulatory, tax and business issues that are unique to the industry,” RSM’s partner and national technology lead Andrew Sykes said. 

The FinTech Australia partnership program helps embed these companies within the fintech ecosystem and networks them with its key players.

Media contact

Harrison Polites
harrison@themediaaccelerator.com.au

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.

About RSM Australia: 

RSM Australia is an independent member firm of RSM which is the 6th largest professional services accounting and consulting organisation in the world. With this certification, RSM becomes the first mid-tier accounting firm in Australia to undergo this rigorous information security certification process encompassing all the business and corporate functions in the firm. 

Intersekt 2021: Marketing Guide!

Why download this guide?

  • Access to 13 tried-and-tested marketing tips that you can implement immediately before Intersekt
  • Get an overview of everything you can do to generate more leads and better brand awareness at Intersekt, even if you’re not sponsoring the event. 
  • Practical ideas ranging from SEO, Google Ads, Social Media, Email marketing and more. 
  • Includes a thorough Checklist that you can hand over to your marketing teams to execute. 

About Rocket
Rocket is an award-winning independent agency that specialises in generating leads and sales for established Australian businesses. This guide includes advice from some of the best digital marketers in Australia – aimed to enable you to deliver better marketing results.

Learn how to take your business global with Austrade at Intersekt’21

Austrade is the Australian Government’s trade and investment promotion agency. It specialises in connecting Australian businesses to the world and the world to Australian businesses, with over 70 global offices staffed by business development experts. Check out Austrade’s activities at Intersekt’21:

Panel Discussion: Scaling Fintech to International Markets

Taking a global perspective, we will hear from successful Australian exporters about how they scaled into new markets. The discussion will explore various market entry models and you’ll hear first-hand about the issues they faced and the lessons they learned. The discussion will also include insights from an international fintech who has established in Australia, to understand what attracted them to the Australian market, how they entered the market and established themselves, and how they intend to continue to grow.

If you are looking forward to expanding internationally, this session is for you!

Going Global Series – Austrade Roundtables and Webinars

The Australian Fintech Market – Webinar

Panel discussion to draw out key market information and insights critical for UK-based fintech companies considering expanding to Australia. The panel will bring together in-market experts from the Australian fintech ecosystem. Discussion topics include the Consumer Data Right (CDR), fintech industry trends, opportunities and regulations. You will also hear from a UK company that has successfully established in Australia, learn what attracted them to the market and how they have continued to grow their business.

Date: 18 May 2021
Time: 5 PM to 6 PM, AEST
Location: Online via Zoom

Cracking into the Singapore Market – Roundtable

This panel session is for Australian fintech companies interested in the Singapore market. You will learn about relevant regulations, market dynamics and trends and opportunities in the fintech space in Singapore. To provide a comprehensive overview of the market, this session features speakers from an Australian company that has successfully scaled into Singapore, a government regulator, a legal firm, a venture capital investment firm, and the venture investing arm of a major multinational bank.

In-person seats are limited to 30 attendees. Book your place now. 

Date: 19 May 2021
Time: 1:30 PM – 2:30 PM
Location: In person at Intersekt, (Austrade Meeting Room)

Fintech opportunities in Greater China – Roundtable

A panel session targeting fintech scaleups exploring the Greater China markets. The discussion will highlight information specific to exporting to China, Taiwan and Hong Kong, including targeted fintech market information and emerging opportunities. Participants will hear about market trends and capability gaps, regulatory requirements and market entry pathways from in-market experts and an Australian exporter.

In-person seats are limited to 30 attendees. Book your place now. 

Date: 20 May 2021
Time: 1:30 PM – 2:30 PM
Location: In person at Intersekt, (Austrade Meeting Room)

Austrade Office Hours – Trade and Investment Information

Austrade advisers help Australian businesses enter international markets faster, navigate regulations and find customers; they also work with international companies and ease their entry into the Australian market, connect with the ecosystem and regulators. Grab your chance to meet the best advisers in the industry in person at Intersekt’21 to discuss your expansion plans and learn about the support available to your business.

Book your 1:1 chat now.

Date and Time: Between Wednesday 19 May 2021 3:00 PM and Thursday 20 May 2021 5 PM
Location: In person at Intersekt, in the Austrade meeting room

Reach out to chat to a Trade or Investment Advisor to discuss the United Kingdom, ASEAN, Greater China and the United States, and learn about Austrade’s new digital services and upcoming global opportunities at Intersekt’21.

FinTech Australia appoints former Jane Hume advisor Harry Godber as Independent Director

FinTech Australia has appointed former senior Turnbull and Morrison government advisor Harry Godber to its board as an independent director.

Godber currently serves as Flare’s Head of Strategy, a fintech business aimed at transforming the way Australians earn, engaging employees through the workplace with market-leading superannuation, banking and HR services.

Prior to this role, he led initiatives in fintech and financial regulation under Minister Jane Hume. He played a key role in the launch of Australia’s Consumer Data Right, superannuation reform and the introduction of new payment regulation.

Godber also led the establishment of the Australian Space Agency as an Industry, Innovation and Science Adviser to Ministers Arthur Sinodinos and Michaelia Cash. In a separate role, he earlier led product and strategy at Data61, Australia’s largest data innovation group.

As an Independent Director of FinTech Australia, Godber will assist and advise on government relations and new policy initiatives from the peak body.

“FinTech Australia has been instrumental in helping shape many of the world-leading policies that are governing our fintech sector,” Independent Director of FinTech Australia, Harry Godber said.

“I look forward to sharing my passion and experience with the Fintech Australia team to champion our ecosystem’s ingenuity and diversity. With the right policy and regulatory settings in place, fintech is poised to lead Australian consumers and business through our economic recovery.”

FinTech Australia CEO Rebecca Schot-Guppy added: “Harry’s appointment is a huge feather in our cap. This appointment will build on our existing relationship with policymakers. Of the 23 recommendations from the latest Select Committee on Australia as a Technology and Financial Centre, 20 draw from FinTech Australia’s submissions and the contributions of our members.”

“Harry has accomplished a staggering amount in his years in government, and we look forward to working with him and drawing from both his enthusiasm for the growth of the sector and his deep expertise.”

The appointment comes as FinTech Australia prepares to launch its annual fintech conference, Intersekt at the Grand Hyatt in Melbourne on May 19 and May 20.

Some of the highlights include a fireside chat with Limepay regarding its path to IPO, Afterpay discussing Afterpay Money, CBA’s x51 Ventures and IAG on investing and scaling start-ups and Up Bank and Tik Tok integration’s integration and partnership with Bendigo Bank.

FinTech Australia launched its Independent Director board positions in 2019.

The two positions allow FinTech Australia to appoint a director to leverage their expertise for the betterment of the industry group.

Media contact

Harrison Polites
harrison@themediaaccelerator.com.au

0409 623 618

FinTech Australia is proud to announce the 2021 Finnies finalists

Recognising and rewarding the Australian FinTech community by honouring innovation, growth and collaboration.

 

We are thrilled to announce the finalists for this year’s Finnies along with the Victorian Government as presenting partner.

We received 290 incredible award entries across 20 categories. Thank you to everyone that took the time to enter.

FinTech Australia CEO, Rebecca Schot-Guppy, and the FinTech Australia Board were faced with the incredibly difficult task of arriving at the finalists. The category winners will be announced in-person this year on 21 July, 2021 at The Forum, Melbourne. Tickets will go on sale next week.

“We are thrilled with the quality of applications and the finalists, a testament of the growth, and strength of the fintech ecosystem. We are excited to celebrate the hard fought achievements of the ecosystem at this year’s Finnies” said FinTech Australia CEO, Rebecca Schot-Guppy.

This year we bring back the People’s Choice Awards for Emerging Organisation and Organisation of the Year. Voting will begin in two weeks. We celebrate our inaugural Hall of Fame inductees to commemorate two companies that have made a lasting impression on the Australian fintech industry’s overall development.

FINNIES 2021 FINALISTS

People, Culture and Talent

BEST WORKPLACE DIVERSITY, Sponsored by Tanggram
Adatree
Bizcap
Brighte
CampaignAgent
Fupay
loans.com.au
TRAction

EMERGING FINTECH LEADER OF THE YEAR, Sponsored by GoCardless
Alex Harper, Swyftx
Belinda Hogan – 86 400
Ivan Tchourilov, OpenMarkets Group
Jessica Joyce, Fupay
Jill Berry, Adatree
Patrick Coghlan, CreditorWatch
Rhys Davis, Fresh Equities
Stephanie Gillon, Flare

FEMALE FINTECH LEADER OF THE YEAR, Sponsored by Seed Space
Carolyn Breeze, GoCardless
Jessica Joyce, Fupay
Jill Berry, Adatree
Joanne Edwards, WISR
Jodi Stanton, Rush Gold
Naby Mariyam, Coverhero
Natalie Dinsdale, Athena Home Loans
Simone Joyce, Paypa Plane

OUTSTANDING FINTECH LEADER OF THE YEAR, Sponsored by BDO
Alex Harper, Swyftx
Ben Williamson, Fresh Equities
Carolyn Breeze, GoCardless
Christian Westerlind Wigstrom, Moonova
Clayton Howes, MoneyMe
John Winters, Superhero
Katherine McConnell, Brighte
Simone Joyce, Paypa Plane

 

Growth Mindset and Global Perspective

EXCELLENCE IN ESTABLISHING MARKET PRESENCE: GLOBAL, Sponsored by Tanggram
Openpay Group Limited
Rush Gold
Verrency
Wallet of Satoshi

EXCELLENCE IN INDUSTRY COLLABORATIONS & PARTNERSHIPS, Sponsored by Xero
Fillr
Flare
Fupay
Look Who’s Charging
MoneyMe Perks – Freestyle virtual Mastercard & Cashrewards
CampaignAgent
Rush Gold Bullion Mastercard by Rush Gold and EML Payments
Sniip partners with American Express and Apple Pay

 

Excellence in Business

EXCELLENCE IN BUSINESS LENDING, Sponsored by Creditor Watch
Banjo Loans
Business Fuel
Butn
GetCapital
Prospa
OnDeck Australia
Radium Capital
Valiant Finance

EXCELLENCE IN CONSUMER LENDING, Sponsored by Vic Gov
Athena Home Loans
Brighte
Fupay
loans.com.au
MoneyMe
Tic:Toc
Wisr
86 400 smartbank

EXCELLENCE IN PAYMENTS (including Remittance/FX), Sponsored by Paypa Plane
DiviPay
GoCardless
Medipass
Monoova
Split Payments
Verrency
Wise
Zip

EXCELLENCE IN BLOCKCHAIN/DISTRIBUTED LEDGER, Sponsored by Swyftx
AgUnity Pty Ltd
BOULEVARD Global Ltd.
CommChain Pty Ltd
Hutly
Meeco
Oxen
Pellar Technology
RelayPay

EXCELLENCE IN CRYPTO AND DIGITAL CURRENCIES/WALLETS/EXCHANGES, Sponsored by Stone & Chalk
Binance Australia
Cointree
Dacxi Australia
e-Pocket Pty Ltd
Elbaite
Independent Reserve
Swyftx
Wallet of Satoshi

EXCELLENCE IN INSURTECH, Sponsored by IAG
Coverhero
Digital Agriculture Services (DAS)
FreightSafe
Open Insurance
uBind
UpSure – Innovators Insured

EXCELLENCE IN REGTECH, Sponsored by OneTrust
Adatree
Arctic Intelligence
ComplyAdvantage
Fenergo
FrankieOne
LAB Group
TRAction

EXCELLENCE IN WEALTH MANAGEMENT (INCLUDING PFM AND ROBO), Sponsored by Ausiex
Fresh Equities
Frollo – PFM platform
Fupay
myprosperity
Raiz Invest
Sharesight
Superhero
Stockspot

EXCELLENCE IN OPEN DATA, Sponsored by Truelayer
Adatree
Basiq
Biza.io Platform:
Envestnet | Yodlee
Frollo

EXCELLENCE IN SUPPORT SERVICES, Sponsored by Data Action
CreditorWatch Online Credit Risk Services
eftpos Payments Australia Limited
King & Wood Mallesons
K&L Gates
Startupbootcamp Australia 2020 Program
Stone & Chalk
The Fold Legal
UK Department for International Trade

Organisational Excellence Awards

DEAL OF THE YEAR, Sponsored by YBF Ventures
NextGen.Net & Frollo
Quadpay & Zip
Rakuten Inc. & Fillr
Wirecard Australia and New Zealand & Change Financial
86 400 & National Australia Bank Limited (NAB)

BEST PARTNERSHIP OF THE YEAR, Sponsored by Firstmac
Adatree and Verifier
Athena Home Loans and PwC Australia
BOQ and Frollo
CreditorWatch and Open Analytics Partnership
Rush Gold and EML Payments
SISS Data Services and Intuit QuickBooks
Superhero and Split
Valiant Finance and Australia Post

EMERGING FINTECH ORGANISATION OF THE YEAR, Sponsored by Mastercard
Adatree
Beforepay
Brickfloor
FrankieOne
OpenMarkets Group
Superhero
WeMoney
86 400 smartbank

FINTECH ORGANISATION OF THE YEAR, Sponsored by Vocus
Athena Home Loans
Fresh Equities
Monoova
Prospa
Tic:Toc
Up
Verrency
Wisr

Financial Data and Technology Association partners with FinTech Australia on CDR rollout

FinTech Australia and the Australia/New Zealand chapter of Financial Data and Technology Association (FDATA) have announced a strategic partnership to ensure the efficient and effective rollout of Australia’s Consumer Data Right (CDR) regime.

FinTech Australia is a not-for-profit membership-based industry body driving the introduction of both the CDR and Open Banking in Australia for fintechs and data intermediaries. Fintech Australia represents their members by advocating for successful outcomes that facilitate the FinTech ecosystem’s growth to make Australia a leading FinTech market.

By partnering with FDATA, a global not-for-profit representing key financial, data and technology participants in the Australian Open Data ecosystem, it will enable the fast track rollout and a push for critical changes to CDR to ensure greater access, benefits and data protections for consumer and businesses alike.

FDATA is leading the campaign to deliver Open Finance worldwide in Europe, the United Kingdom, South America, North America, Australasia, India and Africa. They have been instrumental in creating and implementing the Open Banking regime in the UK, with the country now considered the world-leader with Open Banking technology.

“We look forward to working with The Financial Data and Technology Association to drive the best outcomes for the CDR rollout in Australia,” FinTech Australia CEO Rebecca Schot Guppy said.

“It’s crucial we get this right and move as quickly as possible. Bringing in the broader expertise will be key to ensuring we balance all fintechs interests in the CDR roll out and deliver the best outcome for all businesses and consumers across Australia.”

“We see the shared goal of finalising Open Banking in Australia as an absolute priority. Before we explore additional use-cases for the Consumer Data Right, we need to finish Open Banking. In this case, FDATA will partner with FinTech Australia to ensure the rules makers have unlimited access to the pieces they need to finish this framework.” FDATA ANZ Regional Director Jamie Leach said.

“Building on our Global experience of deep policy, technology and data standards development and implementation, FDATA has chosen to partner with Fintech Australia to ensure that the final components of Open Banking are complete, concise and market-ready. We need to see the vision of encouraging innovation and introducing competition readily available to the ecosystem if we are to realise Scott Farrell’s vision.”

Media contacts

Harrison Polites (FinTech Australia)
harrison@themediaaccelerator.com.au 
0409623618

Jamie Leach (FDATA)
jamie.leach@fdata.global
0413 075 671

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.

About FDATA ANZ

The Financial Data and Technology Association is a not-for-profit global association for companies that supply or use open finance in their business models. Our members provide innovative financial applications and technical/data-related services to empower customers to make better decisions and take fuller control of their financial lives across all their payment accounts, credit cards, loans, mortgages, investments, pensions and retail insurance. We work with the government, regulatory authorities and the financial services industry in our mission to enshrine the rights of customers to be able to share their financial data with regulated actors of their choosing.

FDATA has played an active role in ANZ, particularly in relation to the Consumer Data Right, during its introduction of Open Banking. Our liaison with the regulators and Treasury has seen us provide advisory works and recommendations around the customer experience, the global perspective and the role of Third Parties and Intermediaries within Open Banking. FDATA has also worked with the regulators about the next layer of CDR and will continue to lobby for a common-sense approach to remediating the existing framework.

Pinstripe Media launches new Fintech Focus segment on AusBiz network in partnership with FinTech Australia

FinTech Australia has partnered with Pinstripe Media to launch a new segment for the StartUp Daily Show focused on the fintech industry.

Hosted by StartUp Daily editor Simon Thomsen and Pinstripe Media reporter and co-host Sam Brown, the segment, FinTech Focus, will host interviews and panel discussion delving into the key issues and news stories in the sector. (more…)

Upcoming Events
  1. Finnies 2021

    September 15
  2. Money 20/20 Europe

    September 21 - September 23
Videos

Ep 2: Fintechs Acceleration of Growth Since COVID

Ep 1: The Evolution of Payments

Scaling Product Globally

Podcasts

Lee Hatton – Afterpay: FinTech Australia Podcast

Anthony Jones – Visa AUS/NZ

Tim Cameron – TransferWise