Category: Press Release

Consumers and businesses win in private company equity crowdfunding bill changes

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.

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FinTech Australia welcomes strong performance by Sydney and Melbourne in latest Global Financial Centres Index

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

FinTech Australia welcomes open banking issues paper

FinTech Australia, the peak body for Australia’s fintech industry, today welcomed the release of an Australian Government issues paper on open banking in Australia.

“This paper provides further clarity about key issues that need resolution in order for us to proceed with this important and long-awaited reform to improve consumer choice and banking competition,” said FinTech Australia CEO Danielle Szetho.

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FinTech Australia welcomes blueprint to grow Australian and Sydney fintech ecosystem

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.

The report prepared by KPMG and the Committee for Sydney – with the support of the New South Wales Government – is entitled “Scaling the FinTech Opportunity for Sydney and Australia”. Read more

New reports outline Australian fintech strengths and opportunities

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 and Melbourne startup hubs will be an international boost for Australian fintech

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

Australia becomes world leader in fintech adoption

FinTech Australia today welcomed a major report which shows that Australia has among the best fintech market penetration in the world, ahead of other advanced markets such as Hong Kong, Singapore and the United States.

The EY FinTech Adoption Index shows that Australia is now ranked fifth highest out of 20 surveyed markets for fintech consumer adoption. Read more