FinTech Australia Impact on the Senate Inquiry
Earlier this month the Senate Inquiry for FinTech and RegTech tabled its initial recommendations for future regulation of our industry. Thanks to the input of our members, over a third (14) of the 32 recommendations tabled by the Committee were initially suggested by FinTech Australia.
Crucially, many of the recommendations we suggested covered key policy areas for the fintech industry, including R&D tax incentives and the consumer data right.
We credit this result to the willingness of our members to engage with this process. Over 100 fintechs across various industries worked with us to create a submission that truly represents the community.
Our work, and united voice as an industry, offered the government the clearest view possible into what our sector needs to grow and thrive. This resonated with policy makers, and has led to this successful outcome.
Our work is not yet done of course. We will be continuing our engagement with Canberra to ensure that as many of these recommendations as possible become policy. However we felt it necessary to share the ecosystem’s success in this endeavour, especially in a climate where good news is in short supply.
We’ve created an infographic (attached) which should give you a clear indication on our success we have seen with this process. We look forward to collaborating with you, and the fintech community to ensure the correct policy setting for our ecosystem to grow and remain globally competitive.