FinTech Australia launches ecosystem map

FinTech Australia has launched a third resource for the sector, releasing a new map detailing fintechs in the local ecosystem. 

Following on from FinTech Australia’s regulatory and investor maps, the ecosystem map provides a comprehensive overview of fintechs in this market. 
The map is free for all to use. The launch version of the map will mainly focus on the fintech industries’ major players. 

Fintechs can add their business to the map via logging in and registering their details on the website (https://ecosystem.fintechaustralia.org.au/join-fintech-australia-ecosystem/). 

“This map is another step in our mission to provide more resources for the fintech sector. This map can be used in conjunction with the Investor and Regulator Maps to create a rounded view of the ecosystem in Australia,” FinTech Australia Head of Strategic Partnerships Rehan D’Almeida said. 

“Through creating Australia’s most comprehensive map of fintechs, we’re taking the burden of keeping a detailed contact book off of any stakeholders in the industry. Like our prior maps, we’ll be maintaining this resource but welcome any additions or edits from our members and community.”

This latest launch builds on FinTech Australia’s goal to provide more open resources for the fintech industry. It follows September’s launch of the regulatory map and November’s launch of an investor map for the industry.

View the Ecosystem Map here


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.

FinTech Voice – January 13 2022, Sponsored by ABF Events

Welcome back and wishing you a happy and prosperous new year. It’s going to be another big year at FinTech Australia with new corporate partner announcements, new initiatives and the new CEO expected to join soon. Watch this space for all the updates. We’re also already through the planning stages of both the Finnie Awards and Intersekt Fintech Festival. If you have any queries please reach out to us.

We continue to support the industry and keep up our pace with the new industry trends and developments. We thank you all for your constant support and feedback.

With respect to policy, updates from late last year. The government has released its latest report on CDR and options to expand and enhance the functionality of the Consumer Data Right. A discussion paper has been released on Privacy Act Consultation. Also, the government is seeking stakeholder views on exposure draft legislation basis the consultation paper on Employee Share Schemes.

Reach out to our team, if you have queries or require any additional information.

Finally, we welcome our newest member this fortnight – DOCUSCAN AUSTRALIA PTY LTD AND WORLDPAY FROM FIS

Regards,

Rehan D’Almeida
Head of Partnerships and Marketing
FinTech Australia


FINTECH21 Crypto & Blockchain is a boutique showcase of Australia’s leading FinTech (financial technology), crypto, blockchain and emerging tech business products, services presented by leading companies and innovative startups. Engage with innovative and cutting-edge FinTech, Crypto & Blockchain and Emerging Tech products and services to elevate and scale your business! Visitors can register to attend the FINTECH21 exhibitor showcase for free over two days and engage with a range of FinTech & Blockchain products and services during Small Biz WeekClick here for more details and registration.

CDR Report

The Government released its response to the Final Report of the Inquiry into Future Directions for the Consumer Data Right (the Inquiry) following extensive targeted engagement with stakeholders. Check out the Government’s latest response to the report.

Privacy Act Consultation

Based on feedback from our members, we submitted the Online Privacy Bill section last year, available to view here.

Employee Share Schemes

The Government is seeking stakeholder views on exposure draft legislation basis the consultation paper.

📖 Join the Fintech in Vietnam Program delivered by Asialink Business in association with Department of Industry, Science, Energy and Resources (DISER) and Austrade starting 10 March 2022 – 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 newsroomPlease also forward announcements, case studies and insights to include in our newsroom.

  • Wisr appoints new Non-Executive Director, Cathryn Lyall, to the Board
  • DiviPay raises $20 million Series A to fortify its full-stack spend management suite for SMEs
  • Fundsquire partners with Railz to offer an integrated, quicker, and transparent funding platform
  • CRCNA and Civic Ledger scaling next generation water markets in Northern Australia
  • EpisodeSix: Winning Strategies to Deliver Digital Banking Customer Journeys
  • UK’s Railsbank spurs embedded finance in Australia
  • Australian payments fintech goes global, with Melbourne-based Verrency

 

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

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
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
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
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
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

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.

Regards,

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.

FinTech Voice December 2 – Sponsored by Envestnet | Yodlee

This year’s Annual General Meeting took place on November 30, 2021 and with it, we welcome the Board of Directors that have been elected. We welcome newest director, Dominic Pym, Co-founder of Up, and returning directors Simone Joyce, Managing Director, Paypa Plane; Oliver Kidd, Founder & CEO, Archa; Paul Kang, Co-founder/Director, Entersoft Security; Harry Godber, Head of Strategy, Flare; Marie Mortimer, Managing Director, Loans.com.au; Nathan Walsh, Co-founder & CEO, Athena Home Loans, Robin Sands, CEO, Link4 Cloud; Brian Collins, Fintech and Food Managing Director, Startupbootcamp, Cathryn Lyall, Co-founder, Seed Money Australia & Seismic Foundry; and Michael Saadat, Public Policy & Regulatory Affairs, Afterpay.

On policy, we have a few ongoing consultations as we approach the end of the year. We continue to be involved in several consultations and their submissions this week, including the Attorney-General’s follow-up review of the Privacy Act, Modernising business communications consultation and AFCA Consultation Report

We are excited for our upcoming webinar in association with Austrade on Making the jump: Australian Fintechs Taking on the US on 3 December – 9 AM (AEDT). Learn more about the US market regulations, trends and opportunities as it relates to fintech exporters. Register for the event here.

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

Finally, we welcome our newest member this fortnight – MATTERPAY LENDING PTY LTD.

Regards,

Rehan D’Almeida
Head of Partnerships and Marketing
FinTech Australia

Financial data aggregation leader, Envestnet | Yodlee has been granted active status as an Accredited Data Recipient and Intermediary under Australia’s Consumer Data Right (CDR). This means that the organisation is fully equipped and authorised to provide you with access to CDR financial data through open banking connections. They also provide access to non-CDR consumer-permissioned data through responsible data aggregation. With their innovative technology and global experience, they can help you navigate Australia’s hybrid and evolving open banking environment to comply with CDR requirements and your customers’ expectations. Contact them to learn more.

Privacy Act Consultation

We are currently seeking member feedback for this review

Modernizing Business Communications Consultation – Technology Neutrality

Our draft letter to the Federal Government in relation to this consultation is underway

We are seeking member feedback for this review

AFCA Consultation Report

The Treasury released their report into the Review of the Australian Financial Complaints Authority (AFCA) which FinTech Australia made a submission in response to in March 2021

The report makes 14 recommendations. Overall it found that AFCA is performing well in a difficult operating environment and a changing regulatory landscape

🔏 BDO and AusCERT presents the Cyber Security Survey that identifies the current cyber security trends, issues and threats facing organisations across Australia and New Zealand. The 10-minute survey will provide you an opportunity to sense check your organisation’s approach to cyber risk – Closes at midnight on 3 December 2021

📖 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 and Austrade webinar will highlight the US market regulations, trends and opportunities as it relates to fintech exporters. Register today for Making the jump: Australian Fintechs Taking on the US – 3 Dec

💹 Join the webinar on Investment Opportunities in Vietnam organised by Consulate General of Vietnam in Sydney – aims at NSW and Australian exporters who are keen to explore investment opportunities in Vietnam. Visit here to know more and register for the event on 2 Dec 2021

🇫🇷 Join the Paris Fintech Forum communities delivered by Alteir – Winter Digital Hybrid Edition on 2 Dec and 3 Dec. Get a chance to be a part of both in-person and virtual panels, interviews and speed meetings, all in one. Click here to know more and get your tickets today.

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

  • Frollo and Beyond Bank recently partnered to deliver Open Banking customer experience
  • Digital lender, Nano Digital Home Loans, an Australian fintech lender offering the country’s first end-to-end digital mortgage service aims to reshaping the Australian mortgage market.
  • Swyftx announced two major motorsports sponsorships at Bathurst amid growing interest in crypto among race fans and drivers
  • The Australian Competition & Consumer Commission (ACCC) recently announced that Payble was granted formal Consumer Data Right (CDR) accreditation
  • Airwallex raised additional US$100 million in Series E1 led by Lone Pine Capital
  • Open announced as Australia’s 7th fastest growing company in AFR Fast 100
  • Australian based global fintech, Change Financial (Change), which provides tailored payment solutions, card issuing and testing to banks and fintechs today announced the official launch in Australia of its payment’s brands
  • Cirralto signs binding agreement to deliver funding services to Australia largest wholesale beverage trading platform, eBev
  • MyBond launched its unique and groundbreaking service to alleviate this problem and to assist all Queensland renters
  • Cape joins forces with FrankieOne to enhance the customer onboarding experience
  • Sandstone Technology talks about Mobile banking security: 5 serious challenges, and the 7 ways to address them along with De-risking lending
  • The Economist Intelligence Unit (EIU), supported by Temenos collaborated for a detailed report on the state of cloud-based banking and its future
  • Nodifi recently launched personal loans on origination platform, signaling broker feedback and consumer demand as the main drivers
  • Shift, a provider of credit and payment platforms to Australian businesses, has set the bar for paid parental leave in the Australian finance industry
  • AFG and Frollo join forces to improve mortgage lending with Open Banking data
  • Visa recently invested in Basiq, the API platform powering some of Australia’s most innovative banks and fintechs with financial data
  • Till Payments upsizes recent funding round with top up from Afterpay-backed Touch Ventures and strategic European investors
  • Binance Australia and WeMoney recently launched an initiative to boost Australian crypto education to enhance the financial wellbeing and investment literacy of Australians
  • Connecting Up and Link4 joined forces to enable not-for-profits to reap the benefits of eInvoicing
  • TrueLayer announces the appointment today of Jodi Ross to the position of Regulatory Lead in Australia.
  • Link4 has landed more government contracts following an increase in eInvoicing adoption among Government Agencies in recent months

FinTech Voice November 18 – Sponsored By Envestnet | Yodlee

With the recent launch of our regulatory map and investors map, it’s been a big fortnight of new developments and announcements from the industry and our organisation. While we continue to support the industry and keep up our pace with the new and ongoing submissions and collaborations, we look forward to our upcoming webinar on Vietnam fintech landscape and opportunities for Australian fintechs in association with Austrade on 30 November – 3 PM (AEDT). Register early and be a part of the discussion highlighting Vietnam Fintech market overview.

We are also happy to announce that Cloud technology provider DNX Solutions has joined FinTech Australia’s corporate partnership program – helps foster relationships with the fintech industry’s key players and help companies better collaborate with the sector

In terms of policy, we continue to be involved in several consultations this week, including the ACCC‘s draft information security self-assessment formASIC‘s final review of the ePayments Code following on from CP341 last year, and the Attorney-General’s follow-up review of the Privacy Act.

We are excited for our upcoming webinar in association with Austrade on Making the jump: Australian Fintechs Taking on the US on 3 December – 9 AM (AEDT). Learn more about the US market regulations, trends and opportunities as it relates to fintech exporters. Register for the event here.

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

Finally, we welcome our growing member base with new members – DEDOCO and PANDA REMIT.

Regards,

Rehan D’Almeida
Head of Partnerships and Marketing
FinTech Australia

Financial data aggregation leader, Envestnet | Yodlee has been granted active status as an Accredited Data Recipient and Intermediary under Australia’s Consumer Data Right (CDR). This means that the organisation is fully equipped and authorised to provide you with access to CDR financial data through open banking connections. They also provide access to non-CDR consumer-permissioned data through responsible data aggregation. With their innovative technology and global experience, they can help you navigate Australia’s hybrid and evolving open banking environment to comply with CDR requirements and your customers’ expectations. Contact them to learn more.

InsurTech Whitepaper

We released our draft to our insurtech policy working group early this month.

We will be holding a meeting with our insurtech members shortly to discuss the next steps.

Consumer Data Right – IT Self Assessment form

We submitted to the ACCC on Monday – We are currently seeking member feedback for this review.

ePayments Code Review

We are seeking member feedback for ASIC‘s final review of the ePayments Code

Attachment A – Revised Positions and RationalesAttachment B – Draft Guidance on Reasonable Endeavours and Attachment C – Accommodating Biometrics

Privacy Act

As a part of review of the Privacy Act, we are seeking member feedback.

💲 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.

🔏 BDO and AusCERT presents the Cyber Security Survey that identifies the current cyber security trends, issues and threats facing organisations across Australia and New Zealand. The 10-minute survey will provide you an opportunity to sense check your organisation’s approach to cyber risk – Closes at midnight on 3 December 2021

👩🏻‍🎓 The demand for digital skills is growing, and the Victorian Government’s new Digital Jobs program is helping build Victoria’s digital workforce to help businesses thrive. Over the next three years, mid-career Victorians will complete a six-month program that includes 12 weeks of industry-backed training followed by 12 weeks in a paid digital job with a Victorian business. Some of the state’s top employers will host candidates, including ANZ, Carsales, Zendesk, Amazon and MYOB.
If you are searching for great people with digital skills, learn more and apply now

🇮🇳 Fintech OI is offering a 3-month virtual program – The India FinTech Market Access Program which will focus on possibilities of developing an India strategy for your FinTech venture, with the help of local experts. Learn more about the program and apply today!

🇺🇸 FinTech Australia and Austrade are pleased to present a webinar highlighting the US market regulations, trends and opportunities as it relates to fintech exporters. Register today for Making the jump: Australian Fintechs Taking on the US – 3 Dec

🇻🇳 FinTech Australia and Austrade are hosting a webinar on Vietnam fintech landscape and opportunities for Australian fintechs. Register early for the discussion on 30 November

💹 Join a cohort of professionals passionate about the real applications of blockchain for their businesses with Joshua Gans and ScholarSiteRegister for The Economic Potential of Blockchain webinar. Use the code BCW21FINTECH5 for 5% off the price of your seat.

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

  • GBST wins the IBS Intelligence NeoChallenger Bank Award with its term deposit comparison calculator
  • Visa invites startups in Asia Pacific to build next generation digital payment capabilities
  • DNX Solutions joins FinTech Australia corporate partner program
  • Australia’s first neobank Volt has partnered with Australia’s first Open Banking intermediary, Frollo, to jointly build and launch a new banking-as-a-service (BaaS) app
  • Archa partners with Uber and Mastercard to help get businesses moving again
  • WeMoney, recently expanded its offering to now allow members to track their cryptocurrency holdings in app, integrating crypto exchange Coinspot
  • BDO and AusCERT presents the Cyber Security Survey that identifies the current cyber security trends, issues and threats facing organisations across Australia and New Zealand
  • Envestnet | Yodlee launched their whitepaper to show continued evolution of Open Banking models in Australia and how hybrid service models can speed the process for service providers
  • The merger of Assembly Payments launches its new brand – Zai, creating a new force in Australian financial services
  • Australian Open Banking provider Frollo has published the second edition of its yearly industry report, ‘The State of Open Banking 2021’
  • TrueLayer appointed Rob Hale as Head of Banking in Australia as local growth continues to accelerate
  • Using data science, Koba Insurance is set to revolutionise insurance
  • Airwallex, a global fintech platform, recently announced at Singapore FinTech Festival that its Singapore entity, Airwallex (Singapore) Pte Ltd, has been granted a Major Payment Institution License by the Monetary Authority of Singapore (MAS) under the Payment Services Act
  • London-based open banking pioneer, TrueLayer officially launched its open banking platform in Australia in September 2021
  • In continuation to the “Digital Bank of Tomorrow” thought leadership series, Temenos recently launched its part two – ”Missing Measures of Digital Success” White Paper
  • MyState Bank Selects Temenos for its Digital Banking Expansion in Australia
  • Envestnet | Yodlee recently announced several changes and key hires to the Sydney-based team to help support company’s continued expansion in the region
  • Dacxi and ABC Bullion form unique supply and vaulting partnership to disrupt precious metal investing in Australia
  • Consumers lay down a US$250bn challenge to financial institutions as they seek more flexible, customized digital products, according to research commissioned by EpisodeSix
  • Basiq and Ernst and Young have collaborated to write a comprehensive white paper looking at the future of write access in Australia
  • Global research report by cloud banking platform, Mambu shows Australian consumers have embraced Buy Now Pay Later but remain cautious of cryptocurrency
  • Smart wealth platform Tanggram appoints Chief Product Officer and Head of Marketing
  • Lensell, the AI-based Corporate Performance Democratisation platform, has announced the integration of their flagship application, Diversiview, with the award-winning cloud investment portfolio tracking Solution, Sharesight

FinTech Australia launches free, comprehensive investor map for sector

FinTech Australia has released a free new map for fintechs detailing investors in the Australian fintech sector. 

The map showcases investors from across the country, featuring a variety of funders including venture capitalists, angel funds, corporate investors, crowdfunders and incubators.

The map is free to sign up for investors and also breaks down the type of funding each group provides. For instance, it can narrow down if a VC firm only invests in Series A rounds.

“Mapping major funders is a job many founders would do themselves when looking for funding. We’ve essentially taken this work off of time-poor early stage founders, and created a valuable resource for the industry in the process,” Simone Joyce, Chair of FinTech Australia said. “The number of fintech funders in Australia has grown substantially in the past few years. There are now more options for funding than ever before, and it’s set to continue growing. We aim to keep this resource curated and as up to date as possible to ensure it remains valuable for the sector.”

“While we have tried to be comprehensive, we also understand that we may have missed some funders within the ecosystem. As a result, we’ve made it easy to register your fund to ensure that you are part of this resource.”

The map is free to use, and can be accessed by all members of the fintech and startup community. 

Investors can apply to be added to the map through logging in and registering their details on the website (https://investors.fintechaustralia.org.au/).

The launch builds on FinTech Australia’s goal to provide more open resources for the fintech industry. It follows September’s launch of the regulatory map for early stage startups and overseas companies expanding into Australia. 


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.

FinTech Voice November 04

Post the departure of our CEO last week, we continue our momentum of success with more announcements, submissions, partnerships and initiatives to support the growth of the industry. We have achieved so much under changing industry trends and we will continue to do so with your support and engagement.

Our policy work has quickly picked up with several new consultations coming in, including the ACCC‘s draft information security self-assessment formASIC‘s final review of the ePayments Code following on from CP341 last year, and the Attorney-General’s follow-up review of the Privacy Act. We are working with our members on these submissions.

Our Bridging the Australia-UK FinTech Landscape event and our webinar with ASX focussed on Distributed ledger technology (DLT) as a Service were a big success. Videos now up on our youtube channels. Visit our events page for updates on more events planned!

The Singapore Fintech Festival is on 11 November, 2021. Sydney is proud to be a host city for the World FinTech Festival. Our community get to attend the event for free. Simply click on the link to redeem your complimentary pass.

We have also partnered with FINTECH21a two-day, two-stream program on Blockchain & Crypto and Fintech Trends as part of SmallBizWeekBook your tickets for Australia’s largest fintech event of 2022 – 23-24 March 2022. Also, reach out to us for speaking and exhibition opportunities.

If you have any feedback or require any support, the team is always available.

Finally, we welcome our growing member base with new members – BETACARBON PTY LTD, FLY WALLET PTY LTD and APPLYPAY.

Regards,

Rehan D’Almeida
Head of Partnerships and Marketing
FinTech Australia

Consumer Data Right – IT Self Assessment form

Version 3 of the CDR rules introduces new ways businesses can participate in the CDR and includes sponsored accreditation. We are seeking member feedback for this review.

ePayments Code Review

ASIC has released a final follow-up on its ePayments Code (Code) review.

We are planning to make a submission in response to ASIC’s final consultation and we are currently seeking member feedback for this review

Privacy Act

As part of our review of the Privacy Act 1988, we are seeking member feedback for this review.

Mobile Payment and Digital Wallet Financial Services Report

FinTech Australia is pleased to announce that the Parliamentary Joint Committee on Corporations and Financial Services released its report recently

ASIC’s response to CP 343

FinTech Australia is pleased to announce that ASIC has released Report 705 in response to its Consultation Paper 343 on “Crypto-assets as underlying assets for ETPs and other products”, which FinTech Australia submitted in response to in August 2021.

AUSTRAC’s statement on de-banking

AUSTRAC released their statement on de-banking – FinTech Australia is pleased to note that AUSTRAC has reaffirmed their commitment to financial inclusion and has reinforced the importance of reviewing ML/TF concerns on a case-by-case basis.

AUSTRAC has encouraged banks to work with fintechs to implement measures to reduce ML/TF risks. We hope that AUSTRAC’s stance on de-banking will assist in promoting meaningful engagement between fintechs and banks and also reduce the potential for fintechs to be indiscriminately de-banked.

Read more here

💲 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.

🇲🇽 Join the OpenFinance Summit 2020, a 4-day congress in Latin America that brings together the Fintech industry – 16-19 Nov 2021. Want to also feature as a speaker in this event? Visit here to fill in your details and know more about the Summit.

🤝🏻 Australia India Chamber of Commerce (AICC) are hosting an upcoming workshop on Cyber Security with Global VictoriaMinterEllison, the Bombay Chamber of Commerce and Industry and the Madras Chamber of Commerce & Industry to bring together key stakeholders and connect like-minded organisations while delivering commercial outcomes for both Victoria and India. Contact the National Office and join now.

👩🏻‍🎓 The demand for digital skills is growing, and the Victorian Government’s new Digital Jobs program is helping build Victoria’s digital workforce to help businesses thrive. Over the next three years, mid-career Victorians will complete a six-month program that includes 12 weeks of industry-backed training followed by 12 weeks in a paid digital job with a Victorian business. Some of the state’s top employers will host candidates, including ANZ, Carsales, Zendesk, Amazon and MYOB.
If you are searching for great people with digital skills, learn more and apply now

🇮🇳 Fintech OI is offering a 3-month virtual program – The India FinTech Market Access Program which will focus on possibilities of developing an India strategy for your FinTech venture, with the help of local experts. Learn more about the program and apply today!

🇸🇬 Singapore FinTech Festival (SFF) 2021 is hosting a hybrid conference and exhibition from 8 – 12 Nov 2021. With Web 3.0 as this year’s theme, there will be global experts to discuss how Web 3.0 and key technological advances will power the future of financial services. Visit SFF 2021, for more info and register today!.

💻 Tremenos is hosting a SCALE event dedicated to developers and enterprise software professionals working in the fintech space. A two-day event of high-quality content, including technical and customer presentations, product roadmap sessions, demonstrations, and plenty of opportunities to talk with the experts – 16 and 17 Nov 2021. Learn more about the event and register.

🛒 Join Riskified in the celebration of their new office launch in Melbourne and a webinar on how you can mitigate fraud and grow your eCommerce revenue – Nov 10, 5:30 PM AEDT. For more info, visit

🚀 Launch Academy are hosting a live pitch event. Six hand-selected companies exclusive to Launch’s programs will virtually present a 90-second pitch in front of Launch.VC’s community of 1,000+ founders, investors and industry experts. Join LIVE for free from anywhere in the world on November 17 – Register here

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

  • KOBA Insurance, Australia’s first real-time kilometre-based car insurer is revolutionising car insurance with pay-per-kilometre policies – flipping existing policies by placing the consumer in control of their car insurance costs.
  • Cirralto, Fresh Supply and Chinese importer, James Tyler partnered to accelerate fresh-produce trade relationships between Australia and China via cross-border BNPL finance agreements
  • Open and WeMoney have partnered for powerful and simple insurance wherein, WeMoney members can purchase car, home and contents insurance directly in-app through the Huddle widget, Open’s ready-to-go insurance solution.
  • Spenda’s Buy-Now, Pay-Later (BNPL) functionality has launched into Whola’s marketplace – enabled by partnership with Mastercard
  • CreditorWatch recently announced the formation of its board of directors as part of its next growth phase
  • Envestnet | Yodlee is now an Authorized Active Data Recipient and Intermediary under Australia’s Consumer Data Right (CDR).
  • Openpay partners with Till Payments to offer the flexibility of buy-now-pay-later (BNPL) to more consumers and merchants across Australia and New Zealand.
  • GetCapital rebranded as Shift, a provider of credit and payment platforms to help businesses easily trade, pay and access funds.
  • CreditorWatch recently announced the appointment of Neill Borg as Head of Enterprise to lead the credit bureau’s enterprise accounts team targeting banking, telco, utilities, insurance, and finance clients
  • Bizcap now expands into New Zealand with the launch of Bizcap New Zealand to help businesses flourish and grow in the NZ market.
  • 1receipt is now a finalist in the 2021 Melbourne Awards.

Five Fintechs on Friday 05 November

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


But first, news from the industry…

Partnerships and Collaborations!

Cirralto, Fresh Supply and Chinese importer, James Tyler partnered to accelerate fresh-produce trade relationships between Australia and China via cross-border BNPL finance agreements. Open announced its partnership with WeMoney for powerful and simple insurance wherein, WeMoney members can purchase car, home and contents insurance directly in-app through the Huddle widget, Open’s ready-to-go insurance solution. Openpay partners with Till Payments to offer the flexibility of BNPL to more consumers and merchants across Australia and New Zealand.

Further, Envestnet | Yodlee is now an Authorized Active Data Recipient and Intermediary under Australia’s Consumer Data Right (CDR) and CreditorWatch recently announced the formation of its board of directors as part of its next growth phase

The Singapore Fintech Festival is on 11 November, 2021. Sydney is proud to be a host city for the World FinTech Festival. Our community get to attend the event for free. Simply click on the link to redeem your complimentary pass.

We have also partnered with FINTECH21, a two-day, two-stream program on Blockchain & Crypto and Fintech Trends as part of SmallBizWeek. Book your tickets for Australia’s largest fintech event of 2022 – 23-24 March 2022. Reach out to us for speaking and exhibition opportunities. Also get a 15% discount to attend! Use Code FAU15.

Below are five fintechs to know about this fortnight!

 

Riskified
Riskified empowers businesses to realize the full potential of eCommerce by making it safe, accessible, and frictionless. Riskified has built a next-generation eCommerce risk management platform that allows online merchants to create trusted relationships with their consumers. Leveraging machine learning that benefits from a global merchant network, Riskified’s platform identifies the individual behind each online interaction, helping merchants—Riskified’s customers—eliminate risk and uncertainty from their business. Riskified drives higher sales and reduces fraud and other operating costs for its merchants and strives to provide superior consumer experiences, as compared to its merchants’ performance prior to onboarding Riskified.
 

 

MyBond

MyBond is financial service that helps tenants pay their rental bond. Since March 2021, MyBond has helped over 500 customers across New South Wales, Victoria, and soon Queensland (as of 1st of November) with further expansion across other states and territories in the coming year. There is no other product similar of its kind in the market. A simple and straightforward fee of “One Week Only”; MyBond can pay a tenants’ entire bond for a fee of just one week’s rent. In an expensive city like Sydney, it’s a natural barrier for tenants from all walks of life to raise another four weeks rent alongside the cost of moving whilst still waiting for their previous rental bond to be refunded. Thus, MyBond’s unique service is becoming a popular alternative and solution to paying rental bonds.

 

 

EpisodeSix

EpisodeSix gives banks, fintechs and brands the freedom to design and bring digital payment propositions to market with unmatched speed and across any asset class. The E6 platform, Tritium, is the industry’s most flexible and extensible, leading the industry in product configurability. E6 is partnering with banks and fintechs in Australia, including newly launched Karta.

Fintech industry trailblazer Daryn Griggs is Episode Six’s Brisbane-based Managing Director for Asia Pacific. E6 is propelling payment technology to the next generation, removing the constraints of legacy technology and powering new digital payment propositions for traditional and challenger banks as well as fintechs globally.

 

 

Fresh Equities
Fresh Equities provides simple access to listed capital raises for sophisticated investors and institutions. They are all about driving up participation in the listed market by reducing friction and helping more investors discover and back high growth companies. Investors on Fresh have generated over $500m of demand for the 1,000+ capital raises that have been on platform since launching in late 2018. For listed companies looking to raise capital, they provide a platform that allows them to capture all of the demand they have cultivated in the market with the insights to price and allocate successfully.
 

 

NETSOL Technologies
NETSOL Technologies is a leader in providing innovative IT solutions to the global asset finance and leasing industry. Since its inception, NETSOL has enabled bluechip organisations and Fortune 500 companies in finding their competitive edge and streamline their operations. The company’s suite of applications is backed by four decades of domain expertise. It is supported by a team of over 1300 professionals placed in eight strategically located support and delivery centres worldwide. Our end-to-end product solutions have been powering retail and wholesale finance and leasing operations along with a full suite of digital products for more than 200 global partners.

Check out our previous issues here

Letter from the CEO, FInTech Australia

Earlier this year, I found myself rethinking a phrase I wrote in an opinion piece for The Australian. I described us as “a fintech ecosystem”, a label that we’ve used for such a long time that it almost feels ingrained. But upon reflection, that title no longer fits. We’ve evolved beyond that phrase. While it is a catch-all term, in the startup world it implies something that is intricate, niche and needs to be nurtured. As a sector, we now operate more like an industry. We contribute to the economy, create jobs and an overall brighter future for Australia.

It’s in this period of monumental change within the fintech industry that I  leave as CEO and start my next challenge. I leave FinTech Australia in a position of strength, with a record membership base and the capabilities to continue to drive the sector’s growth. That is all thanks to our members who have stuck with us and continue to work with us and have driven our growth.

We have achieved so much together. FinTech Australia is in near constant communication with all levels of government, due to our ability to surface member’s concerns and act as a single consolidated voice for the industry. This has allowed us to play a meaningful role in shaping key policy points for all emerging companies, such as influencing the distribution and criteria for R&D tax incentives and Job Keeper.

Thanks to your input, the Consumer Data Right has gone from being a theory to a reality. Even now, we’re on the cusp of seeing new innovative services rolled out to market. We’re currently working with government on championing the next iteration of rules including action initiation.

Intersekt, our flagship event, rivals some of the world’s largest fintech events in terms of attendance. Finally, the Finnies have gone from strength to strength. Not only are we seeing more entries each year, but for the first time four women leaders in the sector won all of the major prizes and we introduced a Hall of Fame. These are incredible milestones for the sector, one that I am personally proud of.

There is so much more to look forward to as well. As COVID-19 eases, we will be ramping up our Roundtable program, to help members discuss key industry issues. Also, our new podcast is up and running, creating yet another platform for members to tell their stories. That builds on our revamped content offering and the launch of a fintech TV segment on AusBiz earlier this year. We will also launch an interactive ecosystem map, to go alongside our VC map and the Regulatory Map that we launched recently.

These are all big ticket items that really define our progress as a peak body. However, some of the more memorable moments of my time as CEO came from meeting members personally, learning about their businesses and finding ways to help. I held an open door policy as CEO, and it greatly broadened my understanding of the sector.

I would not be able to do my job without the support of my team RehanLisaStuArtAkshaya and Harrison. They are the engine behind our success, and will continue to steer the ship in my stead. I also want to thank our Chair Simone Joyce, Deputy Chair Alan Tsen and the FinTech Australia board who have offered me so much guidance and support over the past three and half years.

I wish my successor all the best in running FinTech Australia and taking the organisation to new heights. And while this is farewell, it’s not goodbye. I am sure I will be in touch with many of you in my new role and I will see some of you at our events later in the year. If you would like to stay in touch my personal email is rebeccaschot.guppy@gmail.com.

Your sincerely,
Rebecca Schot-Guppy
CEO, FinTech Australia

Upcoming Events

There are no upcoming events at this time.

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