Updates in the fintech industry September 19, 2019

Last week, the Government announced a Select Senate Committee for FinTech which will be led by the honourable Senator Bragg. We applaud the government for taking a wider view and looking to other markets which has been something FinTech Australia has advocated for, especially given Hong Kong and Singapores National Strategy for fintech. In addition, we hope that the enquiry leads to better fintech awareness leading to increased consumer adoption for our members.

It is an exciting time in the Policy space with both the select Senate Committee and Senator Hume looking at the policy roadmap for fintechs.Importantly, please read below for an update on Open Banking, R&DTI and the E-Payments Code.

In the last months,FinTech Australia has travelledacross the country, holdingIntersekt roadshows in Melbourne, Sydney, Perth, Adelaide and Brisbane. Not only were we able to give attendees a taste for what to expectat Intersekt 2019 but we also had the opportunity to meet with members and strengthen relationships withdifferent fintech hubs.

In conjunction with Intersekt, we are running satellite events. The first one will be an Open Banking Workshop on 15th October,facilitated by:

More workshop details and registration in the events section.

The exclusive breakfast with Jack Dorsey, CEO of Square,saw a fantastic turnout of founders, who came to hear Jack’stake on leadership and management.

I would like to welcome our new member Greensill.

Rebecca Schot-Guppy

General Manager
FinTech Australia

Consumer Data Right

We are working closely with Treasury and ACCC to ensure that the rollout of the CDR framework is effective.

We have an opportunity as a key stakeholder to make comments on anything in the ACCC Rules which we consider the material before they go to Minister Frydenburgs office for consent. We are working with our members to address any concerns.


Treasury is conducting a consultation on the Guide to Interpretation for the RDTI Guidelines. We have sent members that are part of our active working groups a link to the consultation and the working document.

ASIC Roundtable

In follow up to FinTech Australias submission on the e-Payments Code Review, we participated in a roundtable session last week where ASIC sought further comment on the code review.

This roundtable session was open specifically to Fintechs (ASIC will hold further separate sessions for banks and consumer groups before releasing a second consultation paper early next year). It is important to note that when this code review is finally released, it will not be a matter of law. The code will represent a recommended and accepted standard of operating. It will be up to the Treasury to decide if the reviewed code should drive any new legislation in this space.

The e-Payments code review is important for our members as it speaks not just to payments but to Open Banking operations, screen scraping and account aggregation and forms the bed-rock for many of our members operations. Whilst there was some discussion specifically about ensuring that the code, which has not been updated for 10 years, encompasses NPPA, better-protecting consumers against BSB and Account Number fraud and other payment technology, the main focus of the round table was how to better shape the code to create a stable environment for companies and consumer tools that rely upon Open Banking and/or screen scraping methodology.

Points that were discussed included how to use the code to establish accepted operating practices (and how to ensure consumers can easily access this), whether or not there should there be an accreditation process for Open Banking participants and how to use the code to future proof the industry in the face of rapid development in this space.

Overall, it was agreed that the purpose of the code should be to create a standard of operation that enables, not disables Fintechs to work with banks in order to make the best use of available technology to better serve consumers.

FinTech Australia & UK DIT London Reception

The UK Department for International Trade and FinTech Australia are hosting a networking reception with the fintech community in London.
Join us for canapes and beverages on the rooftop terrace of Gateleyto celebratethe UK-Australia Fintech Bridge.

This is also an opportunity to meet the 13 companies on theAustralian and New Zealand LendIt Fintech Mission to the UK.

Network with other fintech leaders who share your journey. Exchange insights and seek new partnerships to assist on your global expansion.
RSVP now as spaces are strictly limited.

For more information, please contacttess.thomas@mobile.trade.gov.uk.

September 24th 2019

LendIt Fintech Europe 19

LendIt Fintech Europe is the continents Leading Event in Financial Services Innovation. This years event will attract 1,200+ fintechs, banks and investors from Europes most influential companies to learn, network and do business.

The 1:1 networking arena hosts over 2,000 meetings. And, 50 hot topic panel sessions are organized into 4 main tracks: Digital Banking, Lending Innovations, Cutting Edge in Fintech, and SpendIt at LendIt, our new paytech-focused track.

26th-27th September 2019

Use codeFINAUS15% for 15% off

CEBIT Sydney 2019 – Opportunity to exhibit with FA

CEBIT is a technology conference and exhibition that explores the impact that digitisation is having on business. We attract a comprehensive range of innovative organisations who showcase the latest in business technology to the varied audience of professionals who attend.

Exhibitors are given the opportunity to meet with 14,000 business professionals who are attending to understand thelatest developments in technology. Visitors will be given personalised suggestions for the event based on their interests and exhibitors will be in easy to find zones that will encourage face to face meetings.

29th and 31st October 2019
International Convention Centre

View the sponsorship and sales prospectus.
Reach out to Rehanif you wish to exhibit at this years CEBITfor exclusive member discounts

Landing Pad Bootcampincluding the Paris Fintech Forum 2020

Austrade together with NSW Trade & Investment, Global Victoria and Trade & Investment Queensland will be running our very FIRST FINTECH bootcamp powered by the Europe Landing Pad, this will include a fully curated program and site visits to the major fintech ecosystems across Europe, as well as attendance to the Paris Fintech Forum.

We are calling out to all Australian financial technology, regtech, insurtech or blockchain/AI/data companies working in financial services who are interested in doing business in Europe/UK to apply.

20th and 31st January 2020

Speakership Opportunity at Paris Fintech Forum

Paris Fintech Forum will be back nextJanuary 28 & 29, 2020to host the 5th edition of theParis Fintech Forumat thePalais Brongniart in Paris.

If you want to get a chance tobe on stage among their amazing speakersyou canapplyon their website.

28th and 29th January 2020

Opportunity to expand to Bahrain

Bahrain is fast emerging as an important FinTech hub for the Middle East and North Africa (MENA) region, housing more than 400 financial institutions and launching the Bahrain FinTech Bay (BFB) with its unique properties. Since the launch of BFB in 2017, a number of key opportunities have risen for Australian companies looking to expand their FinTech footprint in the MENA region.

By enforcing open banking regulations on all Bahraini banks, the nation now provides licenses to account information aggregators and payment initiation service providers. Recent approvals of crypto asset regulations have also created opportunities for international providers of crypto exchange services, such as ATM and tokenization, etc. Further support for regional and global start-ups is provided through Bahrains accelerator programs.

Startup&Angels Melbourne

We are excited to invite you to the 6th edition of Startup&Angels in Melbourne, supported by Blue Rock and OVH!
Organised by Australiance, thisevent between startups and angelswillconsist of presentations by 4 startup founders, 1 advisor and 1 investor followed by networking. It is the perfect opportunity to chat with fellow investors and potential customers while enjoying some wine, beer and food

Use the promo code FINTECHFRIENDS for 20% off your ticket!

September 19th 2019
6:00am – 9:00pm
16/414 La Trobe St
Melbourne, VIC 3000

BDO’s Fintech Fridays – Capital Raising Considerations for Fintechs

While a company relies on their founders ambition and investment, there may come a time when outside capital is needed to finance further growth, execute a full or partial exit for owners, or optimise their capital structure.

Many successful businesses looking to accelerate growth arrive at this crossroad and, whilst access to finance may not be a challenge, determining which route to take may be.

With a variety of solutions available, join the BDO team to further explore how one of the following options may best suit your business strategy:

Equity capital markets
Private equity and venture capital
High net worth investors
Mezzanine debt
Asset-based lending.

September 20th 2019
8:30am – 10:30am
BDO Sydney
Level 11, 1 Margaret Street
Sydney, NSW 2000

Future Banking 2019 Summit

The Future Banking Summit 2019will deliver a high level speaker line-up including representation from traditional banks moving into the digital arena, digital and neo banks coming to market and international case studies. Future Banking 2019 is here to cut through the hype and offer practical, insightful and visionary tools to ensure banks and financial institutions are on course to maintain and win market share amidst new competitors and evolving regulations.

The key themes for this years event which will be covered over the 2 days include:
The rise of neo banks in the Australian banking industry
Rethinking regulation and compliance
The current state of play for data and privacy issues
Customer Experience (CX)
Artificial Intelligence (AI)
Innovation & leveraging APIs to create a better world of open banking

October9th-11th 2019

“One API to Rule Them All” Intersekt Open Banking Workshop

K&L Gates is pleased to partner with FinTech Australia to bring you this workshop on Open Banking,”One API to Rule Them All: Creating the best outcomes for a better financial life”

This satellite workshop is structured as a presentation and debate about the why, where and what of the Open Banking revolution.

Our experienced facilitators will take you through the entire open banking ecosystem from the tech to the regulatory regimes and focus on what is necessary to build a vibrant open banking ecosystem that works for the industry and gives the best outcomes for the end-user.

Nilixa Devlukia is the Head of Regulatory at the UK Open Banking Implementation Entity and Ross Sharrott and Stuart Stoyan, are both Advisory Committee members on the Australia Data Standards Body.

October 15th2019
K&L Gates
Level 25, 525 Collins St

StartCon – Future of Work

Each year at StartCon, we welcome some of the worlds biggest names in technology, entrepreneurship and growth marketing to deliver thought-provoking presentations.

This year we’re exploring the Future of Work and what that means for us. Work does more than just provide a means to live; it provides a source of identity, security, community, and meaning.

4000+ attendees | 4 stages | 65 speakers | 35 hours of content Workshops | Networking | Exhibitors | Start Up Alley | Awards Plus did we mention your chance to Pitch for $1 Million dollars!

Early Bird Tickets On Sale Now. Prices go up from 1 October

November 22nd-23rd2019
Royal Randwick,Sydney

15% discount on all exhibitor options for all Fintech Australia members valid until 30th September!

New England Venture Summit

Fintech Australia is pleased to announce its sponsorship and invite you to attend The New England Venture Summit presented by youngStartup Ventures

This exclusive venture summit will bring together over 800 VCs, Corporate VCs, Angel Investors, Investment Bankers, industry executives and founders of venture backed, emerging and early stage companies; will featuremore than 100 VCsas speakers and judges; presentations bymore than100 Top Innovatorsand high-level networking opportunities.

December 4th 2019
Boston, Dedham

Use discount code FAVIPand receive 10% off early bird rates

The market-leading provider of working capital finance.


FinTech Australia


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