Australia’s credentials as an international hotspot for innovative payments solutions has been boosted by the selection of a Melbourne-based company as the joint winner of an industry challenge held by the world’s leading financial messaging provider.
FinTech Australia has welcomed significant changes to draft legislation allowing private companies to crowdfund equity, which will ensure investors are protected while at the same time delivering reduced costs and red tape for companies.
The draft crowdfunding legislation was introduced into the Australian Parliament today.
FinTech Australia has welcomed the strong performance by Sydney and Melbourne in the latest Global Financial Centres Index, with Sydney now being named as a global leader and Melbourne jumping eight ranking spots.
Published every six months, the index measures the attractiveness of 108 financial centres. It analyses research by major international organisations such as the World Bank and United Nations alongside thousands of survey responses. Read more
Two Australian fintech companies have beaten entrants from across the world to be selected among five finalists in a global payments industry challenge, where they will work to develop new cross-border solutions for thousands of banks.
The founder of two UK challenger banks, a world digital identity expert and a prominent US business leader known as the “godfather of fintech” are among the headline speakers confirmed today for Australia’s inaugural fintech festival.
Statement by FinTech Australia CEO Danielle Szetho:
“FinTech Australia’s Blockchain and Digital Currency members welcome the Bill for AUSTRAC to regulate digital currency exchange providers because we see Australia as a world-leading digital currency and blockchain market.”
“We have been consulting with AUSTRAC and the Attorney General for the past six months to ensure the proposed regulations appropriately defined Digital Currencies, but also allow room for the industry to grow.”
“This reform comes at a time where the digital currency market is reaching maturity, so they are necessary to legitimise digital currency activities for broader consumer use.”
“The list of use cases for digital currencies – for consumers, businesses and governments – are growing rapidly, and industry recognises that this regulation is important to ensure the sustainable and long-term growth of this sector.”
For further information, read the media release issued by the Australian Minister for Justice on 17 August, 2017
FinTech Australia today welcomed a new report which outlines the astounding growth of the Australian fintech industry since 2014 and finds that Sydney is a strong challenger to Singapore when it comes to Asian fintech supremacy.
FinTech Australia today welcomed two new reports covering consumer payment methods and venture capital investment which illustrate the underlying strength of the nation’s fintech industry and further opportunities for growth.
On 25 July, the Reserve Bank of Australia released a discussion paper on consumer payment methods while on the same day CB Insights released a report which benchmarked fintech venture capital investment across the world. Read more
Sydney’s proposed new 11-floor startup hub – set to be the largest in the southern hemisphere – should help build even stronger links between the Australian fintech industry and global markets, FinTech Australia said today.
FinTech Australia CEO Danielle Szetho welcomed the news that Jobs for NSW would invest $35 million into the facility, which will create up to 6,500 jobs and contain enough floor space to spread over the size of two football fields. Read more
As many FinTech Australia members would be aware, the Australian Government’s decision to severely restrict the use of skilled migration visas (previously the 457 Visa) in April caused an uproar in the tech community, particularly given the decision exacerbated existing skills shortages.
Since that time, we have been working closely with StartupAUS and TechSydney to lobby the government on behalf of the tech community. This culminated in the lodgement of a joint submission to the government on 21 June. Read more