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.
Thank you for your support As always, the team at FinTech Australia wants to extend our support to those of you that are affected due to Covid-19 and remind anyone to reach out to us and the community at large if you need anything at all. The Fintech ecosystem is one that is known for its resilience and community spirit, and compassion and collaboration are key if we want to get through this. If you need to chat or want to discuss anything, please feel free to send me an email. Rebecca Schot-Guppy, General Manager FinTech Australia |