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.
The first phase of Australia’s open banking regime should be designed to assist Australians get a better deal on mortgages and credit cards, as well as help overcome responsible lending problems highlighted in the Financial Services Royal Commission, Australia’s fintech industry said today.
Fintech firms from across Australia have welcomed a new agreement between the Australian and UK Governments, stating that they are keen to use it as a platform to expand overseas and drive best practice innovation and industry growth.
Australia’s fintech industry association today welcomed a new report which finds that small to medium enterprises (SMEs) are continuing to turn to fintech and other non-bank lenders for their growth fund needs.
After nearly two years driving the rapid growth of Australia’s fintech industry, Danielle Szetho today announced her resignation as CEO of FinTech Australia.
The Australian Small Business and Family Enterprise Ombudsman, FinTech Australia and theBankDoctor.org today joined forces to release a report which outlines the steps taken by fintech lenders to increase transparency and disclosure.
FinTech Australia today welcomed news that the Australian Government will legislate to empower customers by requiring banks to allow these customers to access their own data.
“An open banking regime is key to giving consumers more choice of financial services providers, a greater understanding of their financial standing and overall more control over their financial future,” said FinTech Australia chair Stuart Stoyan.
Australia’s fintech industry today called for the speedy approval and implementation of private company equity crowdfunding legislation to help more Australian small-to-medium sized businesses to access the funds they need to grow.