Below are some significant announcements from our members during the month of February 2018:
It was always on the cards that the first two weeks of February 2018 were going to be an important time for the Australian fintech industry.
With the Australian Parliament returning from its summer hiatus, and a number of important reports expected to be released, there was a feeling that some fintech-friendly announcements were coming our way.
Fintech ties between Australia and the United Kingdom were strengthened last week when the London Lord Mayor Charles Bowman travelled down under with a fintech business delegation.
Mr Bowman met with various government and business leaders, regulators, and trade bodies in Sydney, Canberra and Melbourne. He discussed his plans for the City of London to be a home away home for Australian fintech startups.
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.
The FinTech Association of Hong Kong (FTAHK) and FinTech Australia have signed a memorandum of understanding to strengthen the ties between each other’s FinTech industries and lift support for businesses seeking investment, partnerships and expansion into each other’s markets. Read more
This is a major international competition hosted by Shenzhen Municipal People’s Government.
The world’s most highly talented tech innovators, entrepreneurs and dealmakers will gather at the 2nd China Innovation & Entrepreneurship International Competition to be held in Shenzhen in April 2018.
The competition- which has now been officially launched – will initially be held in nine cities across eight countries with Sydney to hold a regional competition for the second time.
The competition participants will have the chance to gain insight and direction from senior industry specialists and therefore improve both their projects and their experience of working with leaders in the China market.
To encourage the most innovative talent to register, total cash prize pool has risen to RMB 10.91 million (A$2.2 million) from RMB 9.112 million (A$1.8 million) last year.
In addition to big cash prizes, the competition also provides policy support such as talent incentives, industry awards, science and technology finance and project incubation for talents, teams and projects in Shenzhen.
The registration of this competition has already begun with a deadline of 28 February 2018.
For more information: http://apply.itcsz.cn/elogin-sydney2018-en
By Stuart Stoyan, Chair of FinTech Australia
Australia’s fintech industry had a strong finish to 2017 in a year that saw growth and change that our members can be bullish about.
We now make up about one fifth of the Australian startup industry (according to the latest Startup Muster report) and have among the best fintech market penetration in the world according to EY.
FinTech Australia has opened up sponsorship opportunities for this year’s Finnies industry awards and an exciting new research and education program.