Here’s a list of member announcements during the month of May.
Australia has its first licensed digital challenger bank, following a decision by a key Australian Government regulator to establish a new pathway to allow these banks to be established.
On 4 May, the Australian Prudential Regulation Authority (APRA) published its new “restricted authorised-deposit taking institution” framework.
The policy head who helped Uber to launch in Australia has been appointed CEO of the association representing fintechs disrupting Australia’s traditional financial services industry.
Brad Kitschke has been appointed as CEO of FinTech Australia.
Australia’s fintech industry has welcomed an Australian Government decision to put the customer first by pushing back against big bank delaying tactics and introducing open banking reforms from mid-next year.
Australia’s fintech industry will benefit from a number of important support measures in tonight’s 2018-19 Australian Budget but will be forced to wait for the big news about the details of Australia’s open banking framework.
In mid-2017 the NSW Government opened a new funding stream for R&D companies and tech startups under its NSW-Israel R&D and Technological Innovation Program. The program offered up to $250,000 of matched funding for NSW businesses to partner with Israeli businesses on new, innovative and market driven solutions. While the program highlighted the desire for cyber security, agri-tech and water-tech solutions, the program itself was sector agnostic and had an incredible response in NSW from companies spanning cyber security, fintech, clean-tech, medical therapeutics, robotics, AI, edu-tech to a range of agriculture solutions. Read more
Academy Xi is partnering with Tech Ready Women to create a $100,000 Women in Tech scholarship fund to support female-led tech startups and women entering and thriving in the tech workforce. Read more
A record number of entries have been lodged for this year’s Finnies – Australia’s only industry-backed fintech awards.
A total of 215 entries were received, well up from the 158 entries in 2017.