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

 

 

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