Industry Updates: CDR, international delegations, and the Finnies!

28 Feb

Written By

FinTech Australia welcomes the second review into CDR and progress towards a digital economy. Our article in The Australian was published yesterday.

We're looking forward to our first delegation this year to the UK for Innovate Finance global Summit, in partnership with UKDIT. Around 12 of our fintechs will be travelling for the event and the program has commenced. We have also begun planning a delegation to CB Insights: Future of Finance. All details and your EOI link can be found here. Email Rehan for clarifications.Our big announcement for this week is the Finnie Awards! Entries are now officially open and we are already seeing entries coming in. This is your opportunity to be recognised as one of Australia's leading innovators in the fintech space, learn more about it here.Congratulations to our member Joanne Cooper, the CEO and Founder of ID Exchange, for winning the 2020 Telstra Business Women's Award.On Friday, we will be presenting before the Select Senate Committee the issues raised in our submission. The key areas we will focus on are CDR, R&D Tax, Capital, Competition, Consumer Awareness and Payments regulation. We will share our opening address and our responses to the questions when they have been published in Hansard.Lastly, a warm welcome to our new members Binji and Think Markets.Rebecca Schot-Guppy,General ManagerFinTech Australia

R&D

On 6 February 2020, the Senate referred the provisions of the Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019 (the bill) to the Senate Economics Legislation Committee for inquiry and report by 30 April 2020.The bill contains three schedules and implements the legislative measure 'better targeting the research and development tax incentive' from the 2018 19 Budget, with amendments re: the application date and tax offsets.We will be making a submission before the close date - 6 March 2020.

CDR Privacy Safeguard Guidelines

The final CDR Privacy Safeguard Guidelines have now been published and are available on the OAIC.GOV website: CDR Guidelines and Media release.

Invitation to join Israel Cyber Delegation

The annual Australia, New Zealand and Singapore Cyber Delegation and Study Tour to Israel will coincide with the leading Cyber Conference - Cyber Week in Tel Aviv, Israel.The Study Tour is an excellent opportunity for leaders in business and innovation, governance and cyber security to gain an understanding of Israel’s cybersecurity eco-system, emerging cybersecurity trends and to establish key bilateral cybersecurity relationships.

Dates: Friday 26 June - Thursday 2 JulyDelegation Cost: US $6,500 (Delegates cover their own air travel and accommodation costs)

Space is limited, please register early by sending an email to Jonny

Copenhagen FinTech Week -Speaking Opportunity & Showcasing-Spot

Copenhagen FinTech Week invites our members to an exclusive speaking opportunity and a chance to set up a showcasing-spot to share ideas on sustainable FinTech solving SDG goals.If this interests you please register here.Copenhagen Fintech Week offers an ocean of possibilities for fintech entrepreneurs who want to connect to our global network of partners and investors. This year we welcome more than 100 global banks and financial institutions and more than 50 global specialized fintech investors – and they are here to meet the most talented from the universe!

Note that Copenhagen FinTech will charge an additional 150 Euros (≈$250AUD) for the sustainable showcasing spot that will be prepared for you.

Application deadline: 15th March 2020

Tech Law 2020

DLA Piper is holding tech law events in Sydney and in Melbourne covering similar topics.Technology impacts every part of our global economy. As a global law firm with a progressive mindset, DLA Piper thrives on helping our clients succeed in this transformative economy

Melbourne - Apply hereTime: 8:30am - 1:00pm

Date: March 3 2020Location: DLA Piper, 140 William Street, Melbourne

Sydney - Apply here

Time: 8:45am - 1:00pm

Date: March 5 2020Location: DLA Piper, 1 Martin Place, Sydney

#ACCELERATERegTech 2020

#ACCELERATERegTech 2020 is the premier RegTech event being run by The RegTech Association on 17 March in Sydney. The event will enable professionals to network with 400+ attendees from across the RegTech ecosystem and hear from thought leaders examining current regulatory and compliance challenges.

15% off Promo Code: FTADISCOUNT

Date: March 17th 2020Location: Doltone House, Pyrmont, Sydney

Venture Summit | West

If you’re a Fintech startup seeking capital and exposure, or an investor seeking new deals, Venture Summit West is the event of the year you won't want to miss.Meet, interact and network with more than 1,300 VCs, Corporate VCs, angel investors, industry execs and founders of venture-backed, emerging and early-stage companies.

FA Member Promo Code: FINTECHAUVIP

Date: March 23th-24th 2020Location: Santa Clara Convention Center, Silicon Valley, USA

QODE Brisbane 2020

Watch out for the future of finance space where a lot of FA members will be speaking and exhibiting. Book a time with Rehan, if you wish to connect with him.

Date: March 24th - 25th 2020Location: Brisbane Convention & Exhibition Centre

India FinTech Festival

Update: The event has been postponed to ensure the safety of participants. We will provide an update once the organisers confirm.

Check out the India FinTech Festival Expo Deck for updates as well.Location: Mumbai, India

If you are interested in this opportunity, please contact Rehan so that we can help build out a program for you.

Sharesight partners with Morningstar, a global financial services firm, to deliver features such as portfolio tracking, optimise investment performance, and tax reporting
Anthony Eisen, CEO of AftePay, urge regulators that fintech start-ups should be treated differently from the incumbents.
Riding off the tailwind of low-interest rates, Xinja increases its deposit target to $1 billion by year’s end after seeing promising investments
TransferWise founder acts on goodwill by funding projects that tackle the growing problem of diabetes
Intuit, the accounting and financial software is closing on a deal to buy Credit Karma, an American multinational personal finance company, for $7 billion
Matt Baxby has been appointed Revolut Country CEO of Australia.
Our Policy partner, The Fold Legal released a new blog post that discusses the proliferation of the payments system in Australia and how it relates to the wider fintech industry. Check out the blog here.

As a member, if you wish to share any news or announcements that you would like us to promote on our next newsletter, please email us at hello@fintechaustralia.org.au.

The Australian fintech ecosystem continues to flourish at speed, delivering perks from consumer benefits to revolutionising regulatory landscapes to encourage start-up growth.
Founders Fund, a tech investment firm led by the ‘PayPal mafia’ confirmed to raised $3 billion of capital funds.
In discussion with Senator Andrew Braggs, the Chief Data Officer of ANZ, Emma Gray, Advocates for lower regulatory barriers in order to accelerate the accessibility of consumer data to bolstering young fintech growth.
KPMG Analysis shows dollar increase in VC fundings but a decrease in the number of investments made. Fintech still remains as one of the ‘hot areas’ of VC investments.