Call to make crowdfunding legislation a priority

Australias fintech industry today called for the speedy approval and implementation of private company equity crowdfunding legislation to help more Australian small-to-medium sized businesses to access the funds they need to grow.

(more…)

Regulatory pathway for new banking entrants is welcome but could be improved: FinTech Australia

A proposed new regulatory pathway to allow the creation of Australian challenger banks is a welcome move but does require some improvements, according to the peak body for the nations fintech industry.

FinTech Australia has lodged a submission with the Australian Prudential Regulation Authority (APRA) in response to its discussion paper, entitled A phased approach to authorising new entrants to the banking industry.

(more…)

As many FinTech Australia members would be aware, the Australian Government’s decision to severely restrict the use of skilled migration visas (previously the 457 Visa) in April caused an uproar in the tech community, particularly given the decision exacerbated existing skills shortages.

Since that time, we have been working closely with StartupAUS and TechSydney to lobby the government on behalf of the tech community. This culminated in the lodgement of a joint submission to the government on 21 June. (more…)

Australian budget a big boost for Australian fintech

Open financial data reforms, reduced barriers for banking licences, an expanded regulatory sandbox and digital currency tax cuts are among the major initiatives in the 2017-18 Australian budget welcomed by Australias fintech industry body. (more…)

FinTech Australia supports crucial moves to increase banking competition

Australias fintech industry today threw its support behind proposals to increase banking competition by making it easier for new market entrants to get bank licences and access bank-held customer financial data. (more…)

Equity crowd-funding legislation set to create jobs, growth

The peak body for Australias fintech industry today welcomed the approval of new equity crowd-sourcing laws and confirmed the changes would provide a major new avenue to allow companies to grow and create jobs. (more…)

Consumer choice key to financial open data revolution, policy roundtable hears

Greater consumer choice and a stronger Australian financial services industry will flow from proposed reforms to make it easier for customers to access their data, a major policy roundtable has heard. (more…)

FinTech Australia renews call for additional tax benefits for startup collaboration following release of major innovation review

Australias fintech community today renewed its call for additional tax benefits for companies and research institutions that collaborate with startups to create growth and jobs, in the wake of the release of a major review into Australias innovation eco-system. (more…)

Call to Action: National e-Invoicing Framework

National e-Invoicing Framework – RESTful specifications

The Digital Business Council, with the support of the Australian Taxation Office and the Federal Department of Industry Innovation and Science, has established a national e-invoicing framework with a view to improving productivity for Australian business. (more…)

FinTech Australia welcomes the introduction of bill to improve Crowd-sourced Equity Funding Legislation

Today a new bill has been introduced into parliament aimed at improving Australias recently created Crowd-sourced Equity Funding, or Equity Crowdfunding legislation. FinTech Australia welcomes the introduction of this bill, which represents a substantial step forward in making Australia internationally competitive in this vitally important area. (more…)

FinTech Australia welcomes direction of reforms proposed in Productivity Commission Draft Report to put consumers in control

Last week, the Productivity Commission released its draft report into Data Availability and Use. The research examines the costs and benefits of unlocking data held by the public and private sector, and of providing consumers with more transparency and control over Data. This in turn empowers consumers to make more informed decisions, and creates a more efficient, competitive business landscape. (more…)

FinTech Australia supports implementation of new AML/CTF framework

Australias growing FinTech sector is reliant on an efficient and quick implementation of the new Anti-Money Laundering and Counter-Terrorism financing Act, Rules and Regulations (AML/CTF Regime) which should make provisions for new technologies such as digital currencies, digital currency exchanges and digital wallets. (more…)

Putting Consumers in Control – why Open Access Matters

Today The Australian published an excerpt of an Opinion Piece I wrote on the topic of Open Access. You can see the analysis that Richard Gluyas wrote on it here: (more…)

Opinion: Testing Digital Advice Algorithms

The below opinion piece is in response to a recent submission by the Financial Planners Association in response to ASIC’s Robo Advice Consultation Paper 254. (more…)

FinTech Australia’s Focus Areas for ASIC Regulatory Sandbox CP 260 Submission

FinTech Australia is calling out to the Australian FinTech community to contribute their thoughts and experiences to ASICs Regulatory Sandbox Consultation Paper 260. (more…)