FinTech Voice, June 19, 2025
Hi there,
We are 1 week away to the most anticipated night of the year, Finnies 2025! Tickets are so close to being sold out, make sure you don't miss out to celebrate and connect with Australia's fintech community.
The CDR Summit will be bringing together key stakeholders to discuss the value and full potential of consumer data right, offering insights, discussions, and innovative solutions to navigate the evolving landscape of data privacy and empowerment. We hope you can join us on 17 July 2025!
Speaking and session EOIs for Intersekt 2025 are open! Pitch your ideas and take the stage at Australia's biggest fintech festival. Submit your applications by July 13, 2025.
We've launched a Global Talent Marketplace to help fintech employers hire trained and verified professionals. To learn more about this opportunity, please fill out this form.
Lastly, Austrade has launched a London Landing Pad, a selective 6-week virtual business program, coaching Australian tech businesses to successfully export to the UK starting from 28 July. Express your interest here by 17 July 2025.
Kind regards,
Rehan D’Almeida,
Chief Executive Officer,
FinTech Australia
Policy Update
Mergers Reform – Cost Recovery Fees Consultation
Treasury is seeking feedback on a proposed cost recovery framework to support the new mergers review system established under the Mergers and Acquisitions Reform Act 2024.
Under the proposal, businesses notifying certain mergers to the ACCC will be required to pay fees. The fee amount will depend on the type of review, whether it’s a fast-track, public or confidential review. These fees are intended to recover the cost of administering the ACCC’s new decision-making responsibilities.
Feedback will help inform the final design of the fee framework. The consultation paper is available on the Treasury website. Feedback is due 18 June 2025.
FinTech Australia does not propose to make a submission.
Consultation Draft 364 – Maintenance Iteration 22 (Data Standards Body)
The Data Standards Body has released Consultation Draft 364 as part of Maintenance Iteration 22 (MI22). This consultation proposes updates across the CDR ecosystem, including changes to security settings, transaction status definitions, and improvements to data schema alignment across banking and energy sectors.
Key proposed changes:
Security: Data Holders must stop enforcing response encryption unless requested by the ADR (from 10 Nov 2025).
Banking: A revised transaction status definition clarifies when a transaction is considered final, supporting better balance reconciliation (from 16 Mar 2026).
CX: Minor updates to Data Holder Dashboards to reflect existing authorisation obligations.
Energy: Schema alignment and improved error handling across multiple endpoints.
FDO Clean-up: Removal of outdated obligations and version retirements.
Feedback can be submitted onGitHub or by email to contact@dsb.gov.au by Thursday 3 July 2025.
FinTech Australia does not propose to make a submission. Please contact our policy team if you are interested in engaging on this issue
Giving Fund Reforms – Distribution Rate and Smoothing
Treasury is consulting on reforms to philanthropic giving funds (PuGFs and PGFs), including:
Introducing a minimum annual distribution rate between 5% and 8% for all giving funds, with a five-year transition period for existing funds.
Allowing three-year distribution smoothing, with upfront ATO notification and compliance conditions.
These changes aim to increase funds distributed to charities while maintaining donor incentives. Feedback is due 28 June 2025.
FinTech Australia does not propose to make a submission.
We are working on these submissions:
AUSTRAC's Second Public Consultation on new AML/CTF Rules- FinTech Australia and our policy partner is currently drafting our submission. If you would like to share your views or participate, feel free to contact our policy team.
We recently made submissions on:
Productivity Commission Consultation: Pillar 3 – Harnessing Data & Technology Inquiry
Consultation Paper 382: Low cost credit contracts & Draft RG 000 Low cost credit contract
Review of Merchant Card Payment Costs and Surcharging - Issues Paper
See our recent submissions on our website.
FinTech Australia regularly makes submissions to consultations across a wide range of policy and regulatory issues. Communications about how to get involved in these processes are distributed to our Policy Working Group membership.
Upcoming Events
Save the dates for our events in 2025!
Mark your calendars and reach out to the team if you have any enquiries or would like to support any of these events.
The Finnies - We're 1 week away and tickets are almost sold out. Thursday, 26 June 2025, Doltone House Jones Bay Wharf, Pyrmont, NSW
CDR Summit — Agenda will be released soon! Wednesday, 17 July 2025, The Hilton, Sydney, NSW
Intersekt 2025 — Early bird tickets releasing soon! 17-18 September 2025, The Grand Hyatt, Melbourne, VIC
Events and opportunities from the community
Austrade's London Landing Pad — Starts 28 July. Express Interest by 17 July.
TechDiversity Awards 2025 — 14 August 2025, at Sofitel Melbourne.
Updates from SXSW — SXSW Sydney Pitch 2025 applications and EOIs for the Startup Village are open!
For all events and opportunities from the community, click here.
Community Updates
Don’t miss all the news and insights from our members and corporate partners from our newsroom.
FrankieOne Unveils Comprehensive Fraud Solution That Transforms Risk Management Beyond Onboarding. Read More.
Bamboo is on a national hunt for Australia’s best meme creator...and the prize is a jobcreating memes. Read More.
AP+ and G+D to bring eftpos and least-cost routing to Click to Pay. Read More.
Linkly Unveils Orbit: A Game-Changer for Instore Payments. Read More.
outsource Financial and Penny launch strategic partnership to empower women homebuyers. Read More.
Travel Instantly with Luxury Escapes and Azupay Using PayID. Read More.
AU $19 billion per year economic impact could be unlocked through digital finance innovation: new research by DECA. Read More.
Radium Capital unleashes $400m war chest for Aussie innovators. Read More.
For more news from the community, see here.
New Members
Let's welcome FinTech Australia's new members! 🎉
FinTech Australia's Podcast
Listen to the challenges, opportunities, and stories from our community faces across the fintech industry in Australia! 🇦🇺
Have you hear about our podcast revamp? The podcast features a panel-type discussions where you can nominate speakers and choose thought-provoking topics that matter to the fintech community. Express your interest here.
