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…)