Five Fintechs On Friday May 13, 2022

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

 

Quick Updates

 

Thank you for tuning into our podcasts every week. We would like to hear your thoughts on our sessions through a quick one-minute survey to improve your experience.

Below are five fintechs to know about this fortnight!


Shaype

Shaype™ is the new name for Hay as a Service (HaaS). With Shaype, you can build unique financial experiences faster, smarter and with more confidence.

Their Embedded Finance Platform provides access to an ecosystem of powerful and flexible tools to put you in control. Their best-in-class cloud tech delivers fast payment experiences and auxiliary solutions.  They offer a core transactional bank account product, bank transfers, VISA card payments, wallets & tokenisation, dynamic authorisation, data & insights, seamless onboarding, and real-time fraud monitoring. Rapidly design and test products using their secure sandbox accelerator with access to both scheme and non-scheme payment environments.

Shaype provides solutions for both established and new-to-market businesses. Helping them remove complexity and risk to confidently meet their customer needs.


HelpPay

 

HelpPay is a new social fintech that takes the stigma out of asking for help and the effort of providing help. The patent pending technology turns every bill into a shareable link and payment page and, uniquely, guarantees financial help given towards a bill only goes to the provider. The company takes all the pain points and customers’ experience in the cycle of asking, giving and getting financial help today. It is also significantly cheaper for providers when managing their accounts receivable and less stressful for customers than traditional methods such as phone calls, sending letters and using debt collection agencies.


1WordFlow

1WordFlow is a regtech with expertise in knowledge management including transforming policies & procedures from PDF and Word documents into web pages that can be accessed on any device, at any time, in any language, with inclusive WCAG 2.0 accessibility features.
Its latest innovative solution is RegulationCity.Com – a single digital destination for every Australian financial services regulation.

It’s a game-changer for compliance, risk and legal professionals who are regularly called on to grapple with an enormous number of regulations, including over 2,500 updates issued by the likes of APRA, ASIC, RBA, OAIC and other regulatory bodies in 2021 alone.
RegulationCity.com is available on subscription and a free trial period is available.


FeeSynergy

FeeSynergy is the leading provider of cloud-based solutions for Australian and New Zealand Accounting and Legal firms – automated debtor management – payment solutions – proposals – engagements – and compliance solutions.
Our flagship platform called FeeSynergy Collect is fully integrated with leading practice management systems such as APS, CCH, GreatSoft, Lexis Affinity, MYOB AE/AO/Advance and Xero.
This platform is used by hundreds of leading professional service firms including the likes of Accru, Baker Tilly, Bentleys, Count Plus, DFK,  Hall Chadwick, Moore, Nexia, Pitcher Partners, PKF, Walker Wayland and William Buck.


CurrencyCloud

Banks, Fintechs and businesses everywhere can make bigger, better, bolder leaps with Currencycloud. Currencycloud gives businesses the capability to move money across borders, and transact globally in multiple currencies, fast. Experts at what they do, their technology makes it easy for clients to embrace digital wallets, and to embed finance into the core of their business – no matter what industry they’re in. Since 2012, Currencycloud has processed more than $100bn to over 180 countries, working with banks, financial institutions and Fintechs around the world, including Starling Bank, Revolut, Penta and Lunar. Based in London with offices in New York, Amsterdam, Cardiff, and Singapore, Currencycloud works with partners including Visa, Dwolla, GPS and Mambu to deliver simple, clear cross-border infrastructure solutions for clients. They are regulated in the UK, Canada, US and the EU.


Check out our previous issues here

FinTech Voice: Events, opportunities and current consultations – May 05, 2022

The first round of judging the Finnies has now closed. Thank you to the judges for evaluating and shortlisting the finalists. We’re looking forward to announcing the finalists today.

We recently signed up seven new corporate partners – ii-AOracle AustraliaBSI GroupWNSLatimer PartnersProbe CX and Jumio Corporation. If you are require any support from them, please reach out to us.

After the success of our second roadshow event in Sydney last weekwe hosted our third meetup at Stone & Chalk in Melbourne yesterday. It turned out to be a great evening. Thank you to all those who joined us.

With policy, we are currently working on three pending consultations. These include the Review of the Tax Treatment of Digital Assets and Transactions in Australia, the Crypto asset secondary service providers via Digital Services Act and the Statutory Review of the Consumer Data Right. More details about each are mentioned in the advocacy section. The CDR Sectoral Assessment (Open Finance sector – Non-Bank Lending) which was submitted last week.

Interested to know more about the EU fintech market? We’re co-hosting a webinar with Austrade on 12 May to talk about opportunities and trends in the European market. Register today!

Finally, we welcome our newest member this fortnight – BAXE and MARQETA

Regards,

Andrew Porter,
CEO,
FinTech Australia

Two consultations to enhance its digital asset ecosystem

  1. The Australian Treasury is consulting on market design and custody requirements for crypto asset service providers;
    c2022-259046.pdf (1.6 MB)
    Responses to the Consultation Paper published by Treasury are due by 27 May 2022.
  2. The Board of Taxation is conducting a review of crypto assets; The Board of Tax’s terms of reference can be found here.
    The Board has not set a date by which consultations will close.

We’re seeking inputs from our members.

Statutory Review of the Consumer Data Right: Issues paper

The paper released on 16 March seeks written feedback on whether the CDR framework is fit-for-purpose to provide benefits for consumers, increase competition, and drive innovation and will inform the Review. It sets out the purpose, Terms of Reference, and context for the review, relevant background on the development of CDR policy and legislation over time, and specific consultation questions. The issues paper can be found here.

We are seeking inputs from our members for this review.

CDR Sectoral Assessment (Open Finance sector – Non-Bank Lending)

Public consultation commenced on 15 March to inform the sectoral assessment for applying the Consumer Data Right to non-bank lending. Sectoral assessments are conducted with reference to the criteria set out in section 56AD the Competition and Consumer Act 2010.

The submission for CDR Sectoral Assessment (Open Finance sector – Non-Bank Lending) was done last week.

 

📱 Visa brings an opportunity to engage and learn from a community of passionate and purpose-driven creators with their Visa Creator Program. For all digital-first creators and artists in Asia Pacific who are serious about incorporating NFTs into their business. Learn more about the program here

📈 The second annual Technology Scale-up Awards are open for nominations until Thursday, 26 May 2022. The awards, which will be hosted virtually on Wednesday 24 August, celebrate disruptive Australian technology businesses that demonstrate high rates of sustainable growth, as well as innovation, integrity, and contribution to community. For nominations or applications, click here

🤝🏻 ITC Asia is back with an in-person event at Singapore Suntec Convention & Exhibition Centre from 7 – 9 June 2022. The 3-day event will showcase new innovations, share how to increase productivity and reduce costs, and ultimately aim to enrich the lives of policyholders. Learn more about the event here.

💹 Stand with Ukraine by working with some of their best design and dev teams on your upcoming projects. In a situation that feels bigger than all of us this is an opportunity to support other professionals and their families, where in some cases they may be forced to live on a single income. Visit here to know more.

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

 

🧾 Trade Ledger is hosting a live panel exploring the biggest challenges banks face in information security, the latest trends in technology, and how to stay compliant with the changing regulations. Register here to join the panel discussion – 17 May 2022.

💰 FinTech’s biggest conversation, Money20/20 Europe is back to Amsterdam this 7 – 9 June 2022 – place where the fintech community loves to do business and this year it’s bigger, sharper and giving unparalleled show experiences. Visit here to know more and register. Discount code – FIN200

🤝🏻 FinTech Australia in association with Austrade are hosting a webinar on 12 May looking at fintech opportunities in the European market. Join the panel to know more about market trends and challenges. Visit here to register

💵 Envestnet Yodlee and FST Media are jointly hosting a webinar on Open Banking – What it Looks Like, Where It’s Going, and How to Unlock the Benefits. Hear from the top leaders including FDATA, WeMoney, Forrester and Envestnet | Yodlee – 11 May. Register here

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

 

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

  • Basiq announced five new customers to access Open Banking
  • AgriDigital raises $25M to grow the value of grain
  • Zai launches CurrencyFair in the USA, bringing its bank-beating international money transfers Stateside
  • Paypa Plane expands to US, appoints payments luminaries to board
  • Australia’s Hay Group launches Shaype to reimagine financial innovation and accelerate international growth
  • LAB Group announced its partnership with Complii FinTech Solutions Ltd to streamline digital onboarding for Complii’s clients.
  • Open Finance platform Basiq announces strategic partnership with FrankieOne
  • MyBond partners with the Founder and Chairperson of Hope for the Homeless
  • Spenda released a research paper that delivers a holistic overview of insights into the global state of B2B payments
  • FinSS Global announced its partnership with Uplinq, the global SME Credit Assessment platform
  • Frollo launches Open Banking powered Financial Passport for consumers
  • Endava releases a report on real-time payments in Australia – Why corporates should get on board
  • MYOB’s new Loans and Finance hub frees funds faster for SMEs
  • Lensell released its second article as a part of their though leadership series looking at Australian investors’ preferences in the first quarter of 2022

 

 

FinTech Voice April 21, 2022

Hope you all had a peaceful Easter break. It’s been a busy fortnight with new partnerships, industry announcements and more events round the corner. Watch this space for all the updates. In terms of Finnies, we’re already through the judging phase and the finalists will be announced soon. If you’re looking for speakership opportunities for Intersekt 2022, please reach out to us.

After the success of our first meetup in Adelaide, we’re excited for our second roadshow event on April 27th in Sydney followed by the third in Melbourne on May 4th. Join the FinTech Australia team to connect with our partners and fintechs. Limited seats for these events so please register soon.

On the Policy front, we have some consultations ramping up for the fortnight. The key consultations include the CDR Sectoral Assessment (Open Finance sector – Non-Bank Lending) which was submitted last week, Digital economy regulation settings, the Crypto asset secondary service providers: Licensing and custody requirements and the Statutory Review of the Consumer Data Right. More details about each are mentioned in the advocacy section.

The new episode of FinTech Australia podcast is out. In this series we talk about RegTech – what drives the industry forward and how Australia can be seen as the next RegTech center, globally. Tune into our channel to know more. You can now listen to our podcasts on Apple Podcasts and Spotify.

Interested to know more about UAE fintech market and EU fintech market? We’re co-hosting two webinars with Austrade on 26 April to talk about opportunities and trends in the Middle East market and European market, respectively. Register soon for these events.

Finally, we welcome our newest member this fortnight – DOWNSIZER and FRONTYA PTY LTD

Regards,

Andrew Porter,
CEO,
FinTech Australia

CDR Sectoral Assessment (Open Finance sector – Non-Bank Lending)

Public consultation commenced on 15 March to inform the sectoral assessment for applying the Consumer Data Right to non-bank lending. Sectoral assessments are conducted with reference to the criteria set out in section 56AD the Competition and Consumer Act 2010.

The submission for CDR Sectoral Assessment (Open Finance sector – Non-Bank Lending) was done last week.

Statutory Review of the Consumer Data Right: Issues paper

The paper released on 16 March seeks written feedback on whether the CDR framework is fit-for-purpose to provide benefits for consumers, increase competition, and drive innovation and will inform the Review. It sets out the purpose, Terms of Reference, and context for the review, relevant background on the development of CDR policy and legislation over time, and specific consultation questions. The issues paper can be found here.

Andrew is also meeting with Treasury to share member views on this review. If you would like to share any feedback immediately before we email for written feedback, please reach out.

We are currently seeking member feedback for this review.

Australia’s digital economy regulation settings

The Morrison Government has opened consultation on digital economy regulation settings to position Australia as a leading digital economy and society.

The issues paper sets out some of the opportunities presented by these technologies, and seeks feedback on regulatory issues that may impact innovative businesses, the community and government.

The issues paper is available here.

Consultation closes on 22 April 2022 and submissions are to be made here. We will reach out to our members for inputs.

Crypto asset secondary service providers via Digital Services Act

On 8 December 2021, the Government agreed in‑principle to recommendations made by the Senate Select Committee on Australia as a Financial and Technology Centre in respect of consulting on a licensing and custody regime for crypto asset secondary service providers.

The government is now seeking feedback on the proposals and options outlined in this consultation paper to support minimum standards of conduct by crypto asset secondary service providers and safeguards for consumers.

This consultation closes on 27 May 2022. We will reach out to our members for inputs.

The Taxation Board have also released their terms of reference for their Review of the Tax Treatment of Digital Assets and Transactions in Australia.

📱 Visa brings an opportunity to engage and learn from a community of passionate and purpose-driven creators with their Visa Creator Program. For all digital-first creators and artists in Asia Pacific who are serious about incorporating NFTs into their business. Learn more about the program here

🤝🏻 ITC Asia is back with an in-person event at Singapore Suntec Convention & Exhibition Centre from 7 – 9 June 2022. The 3-day event will showcase new innovations, share how to increase productivity and reduce costs, and ultimately aim to enrich the lives of policyholders. Learn more about the event here.

💹 Stand with Ukraine by working with some of their best design and dev teams on your upcoming projects. In a situation that feels bigger than all of us this is an opportunity to support other professionals and their families, where in some cases they may be forced to live on a single income. Visit here to know more.

🧾 Join Accounting Business Expo: 1000s of accounting and finance professionals will unite at the ICC in Sydney to learn how new digital accounting technologies will boost their efficiency, effectiveness and profitability – 28 – 29 April. Register here

💰 FinTech’s biggest conversation, Money20/20 Europe is back to Amsterdam this 7 – 9 June 2022 – place where the fintech community loves to do business and this year it’s bigger, sharper and giving unparalleled show experiences. Visit here to know more and register. Discount code – FIN200

🤝🏻 FinTech Australia in association with Austrade are hosting a webinar on 26 April looking at fintech opportunities in the European market. Join the panel to know more about market trends and challenges. Visit here to register

🤝🏻 FinTech Australia and Austrade are pleased to present a webinar looking at UAE Fintech Opportunities. Tune into the webinar targeting Australian companies interested in the Middle East market – 26 April. Visit here for more info

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

  • TreviPay announced its entrance into the corporate accommodations market, with its embedded payments solution being deployed first for Choice Hotels
  • Archa has raised $4m in funding and secured a $20m debt facility to accelerate our growth
  • Arctic Intelligence have produced their 2022 insights survey to gather data from financial crime risk and compliance professionals across the globe
  • Sherlok appoints Steph George as CMO as startup sets its eyes on scaling
  • Temenos has been named a leader in The Forrester Wave™: Digital Wealth Management Platforms (DWMP) for Q1 2022.
  • CreditorWatch has released its Business Risk Index (BRI) that has revealed that Australian business activity may be finally showing some green shoots around recovery

FinTech Voice April 7, 2022

Thank you to all who applied for the Finnies awards this year. It was a mad dash to the finish line but we’re glad you made it! The first round of judging has begun and the finalists will be announced on 3 May 2022. We can’t wait to celebrate this in person after two seasons of virtual awards.

We’re excited for our first roadshow in Adelaide today at 5:30 PM AEST. Join us to learn about FinTech Australia’s plans for the year and connect with other fintechs and partners. The second one is scheduled for April 27th in Sydney. Limited seats for these events so please register soon.

We are currently working on the Submission for CDR Sectoral Assessment (Open Finance sector – Non-Bank Lending) and we will be seeking feedback from our members.

Policy consultations are ramping up and we will be working with all relevant stakeholders for drafting these submissions. The key consultations include the Digital economy regulation settings, the Crypto asset secondary service providers: Licensing and custody requirements and the Statutory Review of the Consumer Data Right. More details about each are mentioned in the advocacy section.

Interested to know more about UAE fintech marketJoin us with Austrade as we present a webinar for Australian companies looking at opportunities in the Middle East market.

Finally, we welcome our newest member this fortnight – FUNDABL and CRYPTOTAXCALCULATOR

Regards,

Andrew Porter,
CEO,
FinTech Australia

CDR Sectoral Assessment (Open Finance sector – Non-Bank Lending)

Public consultation commenced on 15 March to inform the sectoral assessment for applying the Consumer Data Right to non-bank lending. Sectoral assessments are conducted with reference to the criteria set out in section 56AD the Competition and Consumer Act 2010.

We are drafting a submission to inform the sectoral assessment for applying the Consumer Data Right to non-bank lending. Responses to this consultation will inform Treasury’s final report, which the Minister will consider when deciding whether to designate non-bank lending services. The last date of submission is 12 April 2022 but we are requesting for an extension.

Statutory Review of the Consumer Data Right: Issues paper

The paper released on 16 March seeks written feedback on whether the CDR framework is fit-for-purpose to provide benefits for consumers, increase competition, and drive innovation and will inform the Review. It sets out the purpose, Terms of Reference, and context for the review, relevant background on the development of CDR policy and legislation over time, and specific consultation questions. The issues paper can be found here.

Andrew is also meeting with Treasury to share member views on this review. If you would like to share any feedback immediately before we email for written feedback, please reach out.

We are currently seeking member feedback for this review.

Australia’s digital economy regulation settings

The Morrison Government has opened consultation on digital economy regulation settings to position Australia as a leading digital economy and society.

The issues paper sets out some of the opportunities presented by these technologies, and seeks feedback on regulatory issues that may impact innovative businesses, the community and government.

The issues paper is available here.

Consultation closes on 22 April 2022 and submissions are to be made here.

Crypto asset secondary service providers via Digital Services Act

On 8 December 2021, the Government agreed in‑principle to recommendations made by the Senate Select Committee on Australia as a Financial and Technology Centre in respect of consulting on a licensing and custody regime for crypto asset secondary service providers.

The government is now seeking feedback on the proposals and options outlined in this consultation paper to support minimum standards of conduct by crypto asset secondary service providers and safeguards for consumers.

This consultation closes on 27 May 2022. We will reach out to our members for inputs.

The Taxation Board have also released their terms of reference for their Review of the Tax Treatment of Digital Assets and Transactions in Australia.

📱 Visa brings an opportunity to engage and learn from a community of passionate and purpose-driven creators with their Visa Creator Program. For all digital-first creators and artists in Asia Pacific who are serious about incorporating NFTs into their business. Learn more about the program here

🇬🇧 The UK Government, in conjunction with Australian and New Zealand national and state government partners, are hosting London Tech Week (LTW) in-person this year in London from 12 – 17 June 2022 – to collaborate and discuss the vital role of technology in society. Visit here to learn more and register. Applications close on 19 April 2022

💹 Stand with Ukraine by working with some of their best design and dev teams on your upcoming projects. In a situation that feels bigger than all of us this is an opportunity to support other professionals and their families, where in some cases they may be forced to live on a single income. Visit here to know more.

🤝🏻 Trevipay is hosting a webinar – Scaling the Summit: The Future of B2B Payments. Some industry leaders will share how companies can get ready today for the future of B2B payments and the massive opportunities it presents from analysis of his latest research – 12 April 2022. Register for the event here

🧾 Join Accounting Business Expo: 1000s of accounting and finance professionals will unite at the ICC in Sydney to learn how new digital accounting technologies will boost their efficiency, effectiveness and profitability – 28 – 29 April. Register here

💰 FinTech’s biggest conversation, Money20/20 Europe is back to Amsterdam this 7 – 9 June 2022 – place where the fintech community loves to do business and this year it’s bigger, sharper and giving unparalleled show experiences. Visit here to know more and register. Discount code – FIN200

📈 The 5th annual edition of The RegTech Association’s #ACCELERATERegTech2022 is here. An entirely virtual event with Global Growth Corridor theme will have a clear thread of ESG throughout the topics and discussions – 5 – 7 April 2022. Check out for more here

🤝🏻 FinTech Australia and Austrade are pleased to present a webinar looking at UAE Fintech Opportunities. Tune into the webinar targeting Australian companies interested in the Middle East market. Visit here for more info

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

  • Dacxi observed a huge increase in uptake for its tokenised assets from SMSF customers
  • GPS recently announced new partnership with Mastercard
  • Trade Ledger released its Annual Business Finance Predictions 2022 report
  • Raiz Invest released a case Study on Micro-investing with Envestnet | Yodlee
  • Nodifi recently unveiled Alex Brgudac as new Chief Revenue Officer
  • NAB Ventures Invested in Payment and Data Enterprise Solutions Company DataMesh Group
  • Spenda released a report on investment in smart technology – following the announcement during 2022-23 Federal Budget.
  • Change Financial announced its partnership with Mastercard
  • CreditorWatch appoints Anneke Thompson as Chief Economist (consultant)
  • Till Payments announced Executive Leadership promotions
  • Cape raises $33.1m to simplify spending control systems & eliminate expense reports
  • Yondr Money launched in February and is set to raise up to $1.5 million to fund its expansion as an alternative to mainstream banks
  • Sandstone Technology partners with Brilliance Financial Technology to offer in-built pricing and profitability to the SME Market
  • Frollo conducted a report that shows that the number of fast and reliable Data Holders has significantly increased in Q1 of 2022
  • Probe released a case study on Robotic Processing Automation set to Deliver Significant Savings

Five Fintechs On Friday April 1, 2022

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

Block your calendar for the upcoming events!

FinTech Australia and Amazon Web Services (AWS) are bringing together leaders from rapidly-growing fintech organisations to discuss scaling startups. Attend the panel held in-person in Melbourne, VIC on 5th April 2022 – 3:30 PM AEST. Limited spots available, book today!

We’re also hosting our first roadshow to share FinTech Australia’s agenda and goals, and connect with members and partners. Join us for our first in Adelaide on 7th April 2022 – 5:30 PM AEST, following the second meetup on 27th April in Sydney. Limited seats for the events. Register today.

In association with Austrade, we are pleased to invite you for a webinar on UAE fintech market and opportunities. The discussion will focus on Middle East market regulations, trends and opportunities. Visit here for more info and registration.

Below are five fintechs to know about this fortnight!

 

Driva

Driva is an online platform that helps Australians navigate car-buying. Financing a car should be easy, but it’s often not. Whether you’re in a dealership being passed from salesperson-to-salesperson with only one lender option available or going to multiple lenders directly to find out your rate (hurting your credit score), it’s extremely difficult for consumers to shop around with confidence. That’s where Driva comes in. In a few simple steps, the platform provides customers with personalised quotes from multiple lenders, with full transparency over costs and the confidence that they will be approved. Driva aims to make the car buying process fast, simple and fair – putting Australians back in the Driva’s seat.

 

Open

The trigger for most people to get insurance is the purchase of a new car, home or going on the trip of a lifetime. But it can be hard to find, annoying to buy and expensive. At Open, they’re on a mission to create the fastest insurance, at the best price, for the world. Their promise to customers is powerful, simple insurance through white-label and embedded car, home and travel products. You might know their consumer brand, Huddle, and partners such as Telstra, Plenti, ahm and Polestar.
Open takes care of the entire insurance experience from quote to claim, with a digital experience made brilliant through innovations like instant claims and pay-as-you-drive car insurance.

 

Frollo

Frollo is a purpose driven fintech and Australia’s leading Open Banking intermediary. They help fintech’s, banks and lenders use Open Banking data to deliver better customer outcomes. From reducing debt and increasing savings, to providing a better, more personalised customer experience. Their modular, end-to-end Open Banking platform enables businesses to bring Open Banking powered use cases to market quickly by leveraging Australia’s most advanced and reliable CDR Gateway, with plug & play access to lending, personal finance management and customer onboarding solutions. Their clients include Volt, Beyond Bank, REA Group, P&N Bank and Bank of Queensland.

 

Cache

Cache is on mission to help more people invest, by enabling companies to offer branded investment products, empowering their customers to take control of their financial futures. Cache builds, manages and operates white-label investment products and as Australia’s leading investment-as-a-service provider, is transforming the way companies of all sizes launch FinTech investment products. By eliminating traditional barriers to entry for FinTech products while ensuring they are compliant, rigorous and scalable enough, business can focus on their user growth and leave the complexity to Cache.

 

CryptoSpend

CryptoSpend is a Sydney-based, crypto fintech company specialising in crypto payments. Their mission is to make it as easy as possible for everyday Australians to buy and spend crypto. In late 2021, they became the first Australian company to partner with Visa to release a crypto payments card in Australia. Through the CryptoSpend app, users can pay their bills in crypto, cash out to their bank account, and send crypto to other users with no fees. The CryptoSpend Card allows users to spend their crypto on lunch, groceries, online shopping, etc. in Australia and overseas, anywhere Visa is accepted.

Check out our previous issues here

FinTech Voice March 24, 2022

We’re 6 days away from closing Finnies applications! Submit your applications for the Finnie Awards 2022 before 30 March 2022. Please reach out to us if you have any questions or are looking for sponsorships.

We’re excited to see all the in-person events kicking off again. Blockchain Week 2022 has kicked off this week with much fanfare! Also, don’t miss the #AccelerateRegtech2022 event from April 5th.

We’re also hosting our own roadshow to share FinTech Australia’s agenda and goals, and connect with members and partners. Our first one is scheduled for April 7th in Adelaide, following the second meetup on 27th April in Sydney. Limited seats for the events. We will then head to Melbourne and Brisbane. We look forward to meeting you all in person. Limited seats for the event.

The treasury department’s consultation paper on the blockchain industry is a huge step forward by the government to embrace emerging technologies.

Policy consultations are ramping up and we are engaging with members for our submissions. The key consultations include the Digital economy regulation settings, the Crypto asset secondary service providers: Licensing and custody requirements and the Statutory Review of the Consumer Data Right. More details about each are mentioned in the advocacy section.

Interested in the Middle East market? Join us with Austrade to present a webinar for Australian companies looking at the Middle East market.

Finally, we welcome our newest member this fortnight – WAGEPAY PTY LTD and YONDR MONEY

Regards,

Andrew Porter,
CEO,
FinTech Australia

Join the webinar where Giesecke+Devrient will discuss global eco-innovation insights and activity to enable a greener payments journey. Strategic partnerships that are driving enormous positive changes; including cleaner oceans, lower carbon emissions and evolved recycling will also be discussed.

The climate crisis is arguably the biggest challenge facing the world today, causing momentous repercussions for both current and future generations. Consumers are demanding better options in their everyday lives; including from their energy providers, car manufacturers, retailers, and banks. Sustainability is no longer a trend – it’s a necessity.
Guest speakers are Lexi Airey, CEO Gateway Bank, Ruediger Vogt, Head of Payment 4.0 at G+D and Carlo Lacota, Managing Director G+D Australia and South Pacific.

Statutory Review of the Consumer Data Right: Issues paper

The paper released on 16 March seeks written feedback on whether the CDR framework is fit-for-purpose to provide benefits for consumers, increase competition, and drive innovation and will inform the Review. It sets out the purpose, Terms of Reference, and context for the review, relevant background on the development of CDR policy and legislation over time, and specific consultation questions. The issues paper can be found here.

Andrew is also meeting with Treasury to share member views on this review.

Australia’s digital economy regulation settings

The Morrison Government has opened consultation on digital economy regulation settings to position Australia as a leading digital economy and society.

The issues paper sets out some of the opportunities presented by these technologies, and seeks feedback on regulatory issues that may impact innovative businesses, the community and government.

The issues paper is available here.

Consultation closes on 22 April 2022 and submissions are to be made here.

Crypto asset secondary service providers via Digital Services Act

On 8 December 2021, the Government agreed in‑principle to recommendations made by the Senate Select Committee on Australia as a Financial and Technology Centre in respect of consulting on a licensing and custody regime for crypto asset secondary service providers.

The government is now seeking feedback on the proposals and options outlined in this consultation paper to support minimum standards of conduct by crypto asset secondary service providers and safeguards for consumers.

This consultation closes on 27 May 2022.

The Taxation Board have also released their terms of reference for their Review of the Tax Treatment of Digital Assets and Transactions in Australia.

💹 Stand with Ukraine by working with some of their best design and dev teams on your upcoming projects. In a situation that feels bigger than all of us this is an opportunity to support other professionals and their families, where in some cases they may be forced to live on a single income. Visit here to know more.

📊 RSM is hosting an interactive webinar on Federal Budget 2022-23 to discuss the measures on budget and the challenges and opportunities for Australians – business, economic, taxation and political implications of this year’s budget. Visit here to know more

🤝🏻 FinTech Australia and Austrade are pleased to present a webinar looking at UAE Fintech Opportunities. Tune into the webinar targeting Australian companies interested in the Middle East market. Visit here for more info

🤝🏻 Trevipay is hosting a webinar – Scaling the Summit: The Future of B2B Payments. Some industry leaders will share how companies can get ready today for the future of B2B payments and the massive opportunities it presents from analysis of his latest research – 12 April 2022. Register for the event here

📱 As part of the Global Investment Futures campaign and in collaboration with the Investment Association, the City of London Corporation and the Department for International Trade, the IA Engine is hosting an in-person event. The conference will showcase the latest thinking on the technological opportunities within investment management – 28 March. Register here

🧾 Join Accounting Business Expo: 1000s of accounting and finance professionals will unite at the ICC in Sydney to learn how new digital accounting technologies will boost their efficiency, effectiveness and profitability – 28 – 29 April. Register here

💰 FinTech’s biggest conversation, Money20/20 Europe is back to Amsterdam this 7 – 9 June 2022 – place where the fintech community loves to do business and this year it’s bigger, sharper and giving unparalleled show experiences. Visit here to know more and register. Discount code – FIN200

📈 The 5th annual edition of The RegTech Association’s #ACCELERATERegTech2022 is here. An entirely virtual event with Global Growth Corridor theme will have a clear thread of ESG throughout the topics and discussions – 5-7 April 2022. Check out for more here

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

  • EPAM: Panos Archondakis, Global Head of Banking and Wealth Management at, shares his predictions for Consumer Banking trends in 2022
  • ASL partners with Till Payments to bolster payments innovation in Australia’s banking sector
  • Endava published a spotlight report on the 4 Key Trends that can be expected in Australian payments over the next 5 years.
  • Shift announced the latest release of Shift Connect, focused on giving brokers access to client insights and data
  • Driva, Car Finance Platform doubles down with $6m growth round
  • Tango Energy partners with HelpPay to offer new payment solution
  • Australian fintech coaXion closes $2.65M in Pre-Series A funding
  • Paypa Plane has received approval to connect directly to the New Payments Platform (NPP) as a Connected Institution
  • Radium Capital backs deep tech with Cicada Innovations deal
  • A new report by Temenos says AI Adoption matures as banks transform customer experience and drives new business models
  • Link4 recently expanded their business to Sri Lanka to support sales, marketing and technical support activities
  • Shift recently announced $150 million ABS transaction
  • Cloud banking platform Mambu recently released a report on Small Business, big growth.
  • BTC Markets have launched their new BTC Markets App. With the advent of this app, you can now trade crypto anywhere, anytime.

FinTech Voice March 10, 2022

During these uncertain times, our thoughts go out to all those impacted by the floods or by the international turmoil.

Over the last fortnight FinTech Australia held two webinars – CDR in 2022: leveraging Open Data just got a whole lot easier and Transforming the KYC experience using the Trusted Digital Identity Scheme with Eftpos Australia. We were delighted to have such a high level of engagement during the webinar. The videos are now up on our youtube channel, if you missed it.

Entries are closing soon for the Finnie Awards 2022! Submit your applications before 30 March 2022. Please reach out to us if you’re also looking for sponsorships. We can’t wait to celebrate in-person again after two equally fun virtual awards nights.

The new episode of our FinTech Australia Podcast series is out. In this episode we talk about the industry landscape in Australia – Industry developments , some fresh fintech news and more. Check out the episode here. You can also listen to our podcasts on Apple and Spotify.

Austrade is hosting a webinar on Entering the German Market – A guide for Australian Technology Companies. Learn how to successfully enter the German market. Visit here to learn more and register

With respect to policy updates, ASIC released the draft review of the ePayments Code. ASIC also launched a consultation on The Financial Services and Credit Panel overhaul.

Finally, we welcome our newest member this fortnight – COVERHERO PTY LTD

Regards,

Andrew Porter,
CEO,
FinTech Australia

ePayments Code

ASIC released the report on feedback of the ePayments Code which FinTech Australia has consulted on.

ASIC has invited us to consider the drafting of the changes made to the Code and provide feedback by no later than close of business on Friday, 25 March 2022. Note that they are asking only for feedback on whether the draft wording used to make the changes is clear and aligns with the positions taken in REP 718. Feedback for the same is open until 25 March, 2022.

ASIC’s consults on the FSCP overhaul

The Financial Services and Credit Panel (FSCP) is a pool of industry participants, appointed by the Minister responsible for administering the Corporations Act 2001, that ASIC draws upon when forming individual sitting panels (sitting panels). Under the current regime the sitting panel will be convened by ASIC to consider certain suspected misconduct by, or circumstances relating to, a financial adviser. Consultation Paper here.

 

💹 Fintech startup accelerator F10 has launched an Incubation Program in Singapore. The program will support early-stage startups built on Klaytn, a blockchain platform developed by internet giant Kakao Corp. The 3-month program kicks off in April 2022Visit here to learn more and register.

📖 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!

 

🇩🇪 Join a webinar on Entering the German Market – A guide for Australian Technology Companies hosted by Austrade in association with Berlin based coworking space Betahaus Inc. to find out how to successfully enter the German market – 10 March. Visit here to learn more.

⛓️ Join the Fintech Week Tel Aviv 2022 at the Tel Aviv Stock Exchange, starting 21-23 March. It will take a deep dive into fintech’s key offerings, and discuss the pressing issues and challenges that lie ahead, and will try to get everyone thinking about how it all evolves and what the next phase will look like. Register today! Use promo code is: AUSTLV22.

💲 Money20/20 Europe is back to Amsterdam this 7 – 9 June 2022. A place where the fintech community loves to do business and this year it’s bigger, sharper and giving unparalleled show experiences. Passes are now on sale. Get yours soon 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. Our members also get a 15% discount to attend! Use Code FAU15

 

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

  • Swyftx released first poll of Australian business leaders on crypto to help the country become a crypto hub.
  • Frollo published their report Open Banking API Performance
  • RSM recently released its report on GST reform in post COVID-19 Australia
  • DiviPay’s journey to being Australia’s first all-in-one expense management solution
  • PSC Insurance Brokers joins FinTech Australia’s partnership program
  • Payble welcomes Elise Fairbairn, senior banking executive, to Board of Directors
  • Basiq updates its platform with the launch of Basiq 3.0 to become an open finance platform through a single API.

 

  • Zeller raises $100M AUDSeries B at $1B AUD valuation
  • Digital disruption is continuing to fragment the world of investing
  • A landmark report into Australia’s startup ecosystem – State of Australian Startup Funding report, released by Folklore Ventures and Cut Through Venture. Reveals, the age of fintech for investors is shifting to climate tech startups in 2022

Five Fintechs On Friday March 4, 2022

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

Block your calendar for the upcoming events!

Entries for the Finnie Awards 2022 are now open! This is the chance for you to showcase your achievements and be in the limelight! Submit your entries before the closing date.

Fintech Week Tel Aviv 2022 is starting 21-23 March at the Tel Aviv Stock ExchangeIt will take a deep dive into fintech’s key offerings, and discuss the pressing issues and challenges that lie ahead, and will try to get everyone thinking about how it all evolves and what the next phase will look like. Register today. Use promo code: AUSTLV22

Below are five fintechs to know about this fortnight!

 

Fiskil

Fiskil handles the hard work when it comes to Open Banking and the Consumer Data Right (CDR), so companies can focus on their core business. We’ve built the pipes between financial institutions big and small. As well as all of the compliance technology that’s required to access data under the CDR.

 

Wych

Wych is an AI-based Data Platform, for personal finance management and optimization of a user’s money. Our platform works by managing savings, spending and even investments. Money is stressful, we get that. That’s why we’ve developed an application that actually helps with managing it successfully. What sets Wych apart from other apps that try to organise finances is that it harnesses machine learning and tailors itself to the individual. We are all unique, especially in our financial habits so we tailor to the end user rather than them adapting to meet our requirements.

 

Spenda

Earlier this year, it was announced that Spenda’s Parent Company, Cirralto, had been rebranded to become Spenda Limited (ASX: SPX). This was a strategic long-term plan to better align the core product offering and deliver better brand continuity to customers and shareholders. Today, Spenda provides smart B2B payment and lending solutions, software applications and integration services that help improve the way businesses trade and get paid. Visit www.spenda.co to learn more.

 

Superhero

Superhero is a leading share trading and superannuation platform that aims to make investing accessible, understandable and affordable for all Aussies. Founded by John Winters and Wayne Baskin, Superhero allows customers to trade Aussie and U.S. stocks in real time with no account fees. Customers have access to live AU and U.S. market data, instant PayID transfers and low cost trading across ASX and U.S markets – which has led to more than 170,000 customers signing up since Superhero’s launch in September 2020.

Superhero launched its flagship superannuation product, Superhero Super, in July 2021 – designed to meet the high expectations of a new generation of investors by giving Australians the ability to invest their superannuation in their chosen shares and exchange traded funds.

 

Civic Ledger

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

Check out our previous issues here

FinTech Voice February 24, 2022

It is a huge honour to lead and represent one of Australia’s key voices and influencers in this vitally important industry. I’m excited about the organisation’s capacity to serve as an unrivalled hub for fostering growth at a critically innovative juncture. Thank you for your support and please reach out to me for any queries.

Entries are now open for the Finnie Awards 2022! Submit your applications soon. If you’re also looking for sponsorship opportunities to build your brand, please reach out to us.

In association with Sherlok, Adatree and AssuranceLab, we’re excited to host a webinar on current state-of-play in CDR and what’s on the horizon for 2022. If you have started your CDR journey or want to register for CDR access, this event is for you. Register for the event here.

We’re also hosting an interactive webinar to explore how connectID – powered by Eftpos Australia plans to transform the KYC process in Australia and deliver a better customer experience. Learn more about digital identity exchange with connectID and book your spot.

With respect to policy updates, The Government introduced the Treasury Laws Amendment (Modernising Business Communications) Bill 2022 into the House of Representatives last week. ASIC’s draft review of the ePayments Code will now be released on 7 March 2022. Feedback will be open until 25 March, 2022. Minister Hume and the Treasurer recently announced Open Finance as the next priority area for the CDR – consultation paper on the same will be released soon. We recently submitted the Privacy Act Review to the government.

Finally, we welcome our newest member this fortnight – EBONEX AUSTRALIA, CLSA CAPITAL PARTNERS, CURRENCYCLOUD, CRYPTOSPEND PTY LTD and COAXION

Regards,

Andrew Porter,
CEO,
FinTech Australia

CDR Report

The Government released a report on outcomes from the Consumer Data Right (CDR) Strategic Assessment.

Check out the Government’s latest Consumer Data Right – Strategic Assessment Outcomes Report

ePayments Code

ASIC’s draft review of the ePayments Code will now be released on 7 March 2022. Feedback for the same will be open until 25 March, 2022

 

💹 Fintech startup accelerator F10 has launched an Incubation Program in Singapore. The program will support early-stage startups built on Klaytn, a blockchain platform developed by internet giant Kakao Corp. The 3-month program kicks off in April 2022Visit here to learn more and register.

📖 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!

 

 

⛓️ Join the connectID – powered by Eftpos Australia, for an interactive webinar to explore how connectID plans to transform the KYC process in Australia and deliver a better customer experience, reduced costs and enhanced compliance – 2 March – Visit here for more details

🔒 In association with Sherlok, Adatree and AssuranceLab, we are hosting a webinar to explore what’s on the horizon for open data in 2022 and new models related to it. Visit here to learn more and book your slots.

💳 Join Basiq in a session on what drives Basiq in “making finance easy”, through powerful data and insights and seamless consumer and developer experiences – 1 March – Register here for Basiq 3.0 – Open Finance Platform update

⛓️ Join the Fintech Week Tel Aviv 2022 at the Tel Aviv Stock Exchange, starting 21-23 March. It will take a deep dive into fintech’s key offerings, and discuss the pressing issues and challenges that lie ahead, and will try to get everyone thinking about how it all evolves and what the next phase will look like. Register today! Use promo code is: AUSTLV22.

💲 Money20/20 Europe is back to Amsterdam this 7 – 9 June 2022. A place where the fintech community loves to do business and this year it’s bigger, sharper and giving unparalleled show experiences. Passes are now on sale. Get yours soon 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. Our members also get a 15% discount to attend! Use Code FAU15

📈 Data science and AI Association of Australia is hosting an online event on Investing with Data. Panelists from Diversiview by LENSELL and Sharesight will discuss with DSAI directors about the importance of using data and technology. – 3 March – Register here

 

 

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

  • Mambu and Change Financial join forces to bolster digital banking and payments capabilities in ANZ
  • Airwallex Partners with Qantas Loyalty to expand its financial services with ‘Business Money’
  • Sandstone Technology partners with Codat to expand to the SME market
  • MasterRemit: How two brothers displaced by civil war are helping billions achieve financial equality
  • Swyftx has made Australian sporting history, inking a three-year partnership with the NRL to become its exclusive crypto exchange partner
  • EpisodeSix: Powering the next generation of payments
  • FrankieOne: from Melbourne startup to global regtech in 4 years
  • Australian payments specialist, Zai, a new force in global fintech
  • TreviPay: Creating an Uber experience at the B2B checkout: Navigating embedded payments
  • DNX Solutions launches new Citadel brand amid global expansion
  • WeMoney becomes accredited for Open Banking in Australia
  • LAB Group announced its partnership with Australian financial services firm B Digital Assets Pty Ltd (“B Digital”) to enhance B Digital’s client onboarding experience.

 

 

 

Five Fintechs On Friday February 18, 2022

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

Block your calendar for the upcoming events!

In association with SherlokAdatree and AssuranceLab, we’re excited to host a webinar on current state-of-play in CDR and what’s on the horizon for 2022. If you have started your CDR journey or want to register for CDR access, this event is for you. Register for the event here.

We’re also hosting an interactive webinar to explore how connectID – powered by Eftpos Australia plans to transform the KYC process in Australia and deliver a better customer experience. Learn more about digital identity exchange with connectID and book your slots today.

Below are five fintechs to know about this fortnight!

 

 

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Upcoming Events
  1. Finnies 2022

    June 23
  2. Intersekt 2022

    September 7 - September 8
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