FinTech Voice: August 13

 

Dear Community,

I would like to specifically acknowledge our community in Melbourne who are going through a very unique and uncertain time. As a Melbourne headquartered company – we feel your pain and the impact of the shutdowns. I would also like to reiterate to all members that you are always welcome to email us.

Planning is well underway for the virtual finnies the application close date is fast approaching with only 1 week left.  We encourage everyone to apply and finalise your applications this week to avoid missing out! This week we once again have a wealth of updates for you regarding policy work, events, and opportunities.

We are also in the process of revamping our policy working groups, making it easier for you to receive information and keep track of all a working group’s progress. Stay tuned for more information soon.

Policy

Yesterday, we hosted a Roundtable with the NPP to discuss an update on the take up and usage of the NPP and the NPP’s roadmap and future capability development. We will also be hosting a Roundtable with AFCA on 10 September to discuss AFCA in respect of their reasoning, fairness and procedural operations. In terms of policy work, we have submitted finalised submissions to the ACCC in respect of the CDR Intermediaries consultation, and to ASIC regarding their informal Enhanced Regulatory Sandbox consultation. We are also currently working with our Blockchain and Digital Currency policy working group in respect to deregulation, and the future of the blockchain roadmap.

Last week I also attended the RDTI Industry Roundtable. Numerous items were discussed but more importantly a discussion was had on R&D and Covid19. We made it clear the importance of R&D for many fintech startups in predicting and there ongoing runway. In addition, we raised points including bi-annual payments, quick and timely payments and the onerous process that it is to claim.

Community Initiatives

Thank you to Entersoft for sponsoring this week’s newsletter. Your support of FinTech Australia and the broader fintech ecosystem is greatly appreciated. We would also like to welcome Payright, Siss Data Services, Valiant Finance and Advisor Ratings as our newest members!

Over the past two weeks, our Five Fintechs on Fridays has featured Cake, Octet, Bizcap, Fractal ad Paycepaid and Birchal, Indebted, Harmoney, Transferwise, and Shift Payments. If you would like to be involved in the next edition as a listed fintech, or sponsor please let us know by reaching out to [email protected].

If you need to chat or want to discuss anything, please feel free to send me an email.

Regards,

Rebecca Schot-Guppy,
CEO
FinTech Australia

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FinTech Voice, July 30 2020

Dear Community,

We hope everyone is well as we start to approach Finnies season! With only 3 weeks to go until applications close, we encourage all fintechs to apply to have a chance to have your talent and hard work recognised at Australia’s largest fintech awards. Expect to hear our big announcement about the Finnies soon. This week we have a wealth of updates for you regarding our policy work, events, and opportunities.

 

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FinTech Australia Industry News July 2

 




We hope everyone had a good EOFY and we are looking forward to seeing all your successes over the next year. Speaking of successes, we are looking forward to sharing the success of our members and the ecosystem in the next week – please stay tuned.

Today marks an important day in the progress to a digital economy with the launch of the Consumer Data Right, but the hard work has only just begun. We need to ensure the CDR is accessible and cheaper for fintechs to use than other alternatives on the market. A key part of ensuring this happens is the ACCC consultation in respect of Intermediaries. We realise there is a long way to go before we get a framework that will adequately deal with the range of models in the market. If you are a member of FA, we would love to have your involvement. We are also currently in the process of drafting the second draft of our response to the ePayments Review based on member feedback, as well as working with our Blockchain and Digital Currency policy working group in respect of deregulation, and the future of the blockchain roadmap.

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Industry Updates June 18, 2020

We hope everyone has been well over the past few weeks as restrictions begin to ease across the country. We have several exciting policy and community updates in store for you all, as well as a myriad of events and opportunities that you can take advantage of.

In respect of our policy work, we have submitted our submission to the Inquiry into the Future Directions for the Consumer Data Right, and we are currently seeking feedback from members on the first draft of our submission to the ASIC ePayments Review.

We are also currently progressing on Intersekt and the Finnies, which are scheduled to run later in the year. If you want to be involved in these events, please do not hesitate to reach out.

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Resilience during COVID-19: Q&A with Airwallex’s Neil Luo

As ​Airwallex’​s Head of Growth, Neil leads the company’s global growth and user acquisition strategy. He has over a decade’s experience working across marketing, strategy, technology and data science, previously holding roles at SEEK, Hotels.com, Expedia and The Boston Consulting Group.

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Industry Updates June 4, 2020

 




We hope that everyone has been well over the past couple of weeks. On the policy front, we are continuing to strongly advocate for the fintech ecosystem with respect to the budget to support you all on your recovery post-Covid-19. We have made our submission to the Inquiry into the Future Directions for the Consumer Data Right, and are currently drafting our submission to the ASIC ePayments Review (details below).

Industry Updates

Last week was particularly exciting, with the new Regulatory Sandbox legislation receiving royal assent. We also successfully lobbied for the removal of the directive that the AOFM must only distribute the SFSF 15 Billion Fund to companies that have 50M assets/loans under management. This change will allow more lenders to access the scheme.

New memberships and community initiatives

Before we launch into our community initiatives, we would like to welcome Scantek, Yodlee and Identitii as our newest members!

Since our last newsletter we have run two weeks of Five Fintechs on Fridays (with incredible enthusiasm from the community). These entries have featured BTC Markets, Data Republic, Assembly Payments, Tanggram, Ingenico, TradeLedger, OpenSparkz, Radium Capital, Pinch and Relay Pay. Stay tuned for this Friday’s latest FFoF.

In last week’s Member Spotlight we spoke with Caroline Bowler, CEO of BTC Markets about the opportunities that the current market presents for cryptocurrency adoption and, in particular, Central Bank Digital Currencies. This week we spoke with InDebted’s Lachlan Heussler about what the company is doing in the debt collection space, their unique use of technology, and their future plans.

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Industry Updates, May 7 2020

 




We hope that everyone is staying safe at this time. We are continuing to strongly advocate for you all in respect of recent Covid-19 measures, including the expansion of JobKeeper, its application to SME lenders, and AOFM funding to non-bank lenders. We are also currently drafting submissions to the Inquiry into the Future Directions for the Consumer Data Right, and the ASIC ePayments Review (details below). We have also launched a talent marketplace on Linkedin in partnership with Tier One People.

The Finnies and Intersekt

We wanted to share a quick update with you with regard to the Intersekt Fintech Festival and The Finnie Awards. In such uncertain times, we are working hard to ensure Intersekt Fintech Festival 2020 will proceed as planned from the 26 to 27 October 2020 and The Finnie awards which have been rescheduled for November 27, 2020. With networking an integral part of coming together for these events, our first preference is to run live events as normal.

New partnership with Vocus

We have also partnered with Vocus, a leading Tier 1 telco and network solutions provider, connecting people, businesses, and governments across Australia and the world. They offer customised solutions to some of Australia’s largest and most promising financial services organizations, and are looking forward to enabling the fintech industry to innovate and grow further. (more…)

Industry Updates: CDR, international delegations, and the Finnies!

FinTech Australia welcomes the second review into CDR and progress towards a digital economy. Our article in The Australian was published yesterday.

We’re looking forward to our first delegation this year to the UK for Innovate Finance global Summit, in partnership with UKDIT. Around 12 of our fintechs will be travelling for the event and the program has commenced. We have also begun planning a delegation to CB Insights: Future of Finance. All details and your EOI link can be found here. Email Rehan for clarifications. (more…)

Industry Updates: Delegation to the UK and big policy wins!

It’s already mid-February and there is a lot of positive noise about fintech in the community, parliament and the papers. The first of what we hope will be policy inroads for the fintech community passed this week being the Treasury Laws Amendment (2018 Measures No 2) Bill 2019. The bill allows for the regulatory sandbox to be expanded and for an increased testing period to help fintechs create a minimum viable product to take to market.  Thank you to everyone that has been involved in getting this important piece of legislation passed.

We have so much on the horizon to look forward to – from the Senate Inquiry hearings to two roundtables with Treasury, Regulators and members, and two new submissions. (more…)

Industry updates: Flagship event opportunities, new MOU with Israel and Geneva and more!

With bushfires still devastating the country, I would like to recognise some of the measures that our members have taken to support those in need.

Intuit has pledged $1,000,000 USD to help with relief efforts and implemented donation matching through the We Care and Give Back program. NAB Bank has also given all employees an additional day of annual leave to be spent in a bushfire affected town. (more…)

FinTech industry updates: Issue paper submitted, FA got a new website!

Welcome back to 2020, I hope that everyone had a great end of year break with friends and family.
 

However, I want to touch on a more serious note. Over the break, many families suffered an extreme amount of devastation across the country as a result of the bushfire disaster.

I encourage everyone in the community to do as much as they can to support those in need. Whether that is helping at a food/supplies drive, volunteering at a relief shelter or donating.

To assist in this, FinTech Australia has collated a list of links to help steer any volunteering or donation efforts to where they are needed.

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Fintech industry updates: Issues paper update & dates for next year's finnies and intersekt


It’s the last month of the year and we’re not slowing down just yet. The Senate Committee Issues Paper is still our highest priority and we thank all our members who provided their inputs. Through the submission we aim to deliver a clear outcome and help our politicians create a policy environment that will help the sector thrive.
And finally…
Rehan and I will be catching up with our members in Melbourne and Sydney in January to hear about success stories, challenges and other service offerings we could develop to maximise value from being members. If you wish to become a member of FinTech Australia, please email rehan to schedule a meeting. We’re also open to suggestions via email. (more…)

FA industry updates Nov 21, 2019


Yesterday we held our Roundtable on the Select Senate Committee Issues Paper in our three live locations and over teleconference, with our members and policy partners.I would like to thank everyone who participated in the discussion and added notes to our submission document; the input was invaluable to craft the first draft.

A structured draft will be provided to members by Thursday 28 November, for their comments, feedback and review.The paper will be used by the government to drive policy around a wide variety of issues that affect Fintechs, from the R&D tax incentive to Open Banking and fostering innovation through flexible regulations. More on this below. (more…)

FA industry updates October 24, 2019


Intersekt 2019 was a resounding success. This year, we had over 500 delegates attend over the week and over 130 presenters and panellists participating in the festival. Our seven satellite events allowed for agreater degreeof engagement with their respective topics and our industry dinners & cocktail functions fostered an informal environment for relationship creation and networking.This conference would not be possible with our sponsors and partners, and I would like to personally thank them for their support. I would also like to thank my team, Rehan, Lisa, Brandon, Harrison and Amy for all your efforts. (more…)

Updates in the fintech industry October 24, 2019


Intersekt 2019 was a resounding success. This year, we had over 500 delegates attend over the week and over 130 presenters and panellists participating in the festival. Our seven satellite events allowed for agreater degreeof engagement with their respective topics and our industry dinners & cocktail functions fostered an informal environment for relationship creation and networking.This conference would not be possible with our sponsors and partners, and I would like to personally thank them for their support. I would also like to thank my team, Rehan, Lisa, Brandon, Harrison and Amy for all your efforts. (more…)