FinTech Voice, April 26, 2024

Another big week so please bear with me on a longer-than-usual intro. Firstly, congratulations to the 2024 Finnie Awards finalists! The 30+ judges for the first round were very impressed with the quality of applications and the next group of 40+ judges have a difficult task of picking a winner. Don't delay your ticket purchases! To ensure diversity, we limit it to 5 tickets per company and tickets sell out quick. We're looking forward to celebrating the night, now back in Sydney after 6 years!

NSW Tender - The NSW government are eager to tap into the fintech industry for their new tender in Core Services, Platforms and Innovation. We look forward to showcasing our member's solutions and will work closely with them to address any questions from the industry.

Intersekt Fintech Festival 2024 - We have opened applications for speakers and sessions that will deliver the most groundbreaking and newsworthy insights of the year. This is your opportunity to enlighten, inspire, and introduce innovative ideas at the biggest fintech stage in Australia that will influence the future of the country's digital economy.

Fintech AI event - It's no secret how much Microsoft is investing in AI and through this, they've committed to supporting the local fintech industry. The events are almost booked out but a few seats remain. Learn how Microsoft can help you scale your business using AI at the Fintech AI roadshow in Sydney and Melbourne.

Kind regards,

Rehan D’Almeida,

Chief Executive Officer,

FinTech Australia

Policy Update

ACCC announces this year's CDR priorities

In its latest CURB Newsletter, the ACCC outlined its key priorities in relation to CDR for 2024-25:

Data quality issues that impact CDR use cases,
Data holder processes; particularly data holders with high rates of authorisation process errors,
Failure to meet compliance dates; particularly in relation to banking data holders who have not activated for consumer data sharing, and
Conduct of CDR representative principals and CDR representatives.

The ACCC will also conduct regular, smaller compliance checks on audits and targeted compliance reviews. ACCC’s focus for the next six months are:

Product reference data quality
Energy data holder authorisation processes

OAIC consults on changes to the Credit Reporting Code

The Australian Information Commissioner (OAIC) has opened a short consultation on ARCA's proposed amendments to the Privacy (Credit Reporting) Code 2014 (the CR Code).

Notably, the proposals include amending the CR Code to introduce a limited soft enquiries framework to replace the existing 'Access Seeker' provisions. This change could have significant implications for fintech lenders, brokers and PFMs who rely on the Access Seeker model to provide indicative pricing/quotes and eligibility assessments.

FinTech Australia plans to make a short submission before consultation closes on 7 May. If you are interested in this consultation, please contact us.

Competition Review consultation on non-compete clauses

The Competition Review Taskforce has released an issues paper to consider whether reform is required in relation to non-competes and other restraint of trade agreements between businesses and workers, and no-poach and wage-fixing agreements.

FinTech Australia is considering whether to make a submission. Please reach out if you have a view on this consultation.

We recently made submissions on:

See our recent submissions on our website.

FinTech Australia regularly makes submissions to consultations across a wide range of policy and regulatory issues. Communications about how to get involved in these processes are distributed to our Policy Working Group membership.

Upcoming Events & Opportunities

Get excited for events and opportunities from FinTech Australia and the community!

The 8th annual Finnie Awards Gala Night will be held on the 6th of June in Sydney this year! Get your tickets here.
CDR Showcase is back this year as CDR Summit! Save the date for the 3rd of July at The Hilton, Sydney. If you'd like to host your own satellite events, please reply to this email.
We are partnering with Microsoft to bring you AI FinTech Roadshow to explore the dynamics of AI transformation within the Financial Services Industry. Register for Sydneyor Melbourne.
Gain valuable insights into the impact of the Consumer Data Right on non-bank lenders and uncover strategic opportunities with experienced industry leaders from ProductCloud, Stryd, and StayorGo. Register here.

Opportunities to not miss

The NSW govt are eager to tap into the fintech pool for their new tender and are looking for potential payment solutions. EOI's will close at 3 PM, 8th May 2024. Submit your EOI through the links below.

1.⁠ ⁠Core Services - eTendering - Current Tender Detail View - EOI-00211703 Core Services

2.⁠ ⁠Platforms – eTendering - Current Tender Detail View - EOI-00211704 Platforms

3.⁠ ⁠Innovation - eTendering - Current Tender Detail View - EOI-00211705 Innovation

For the first time, we are opening applications for unique sessions and dynamic speakers that will inspire Intersekt Festival 2024. Submit your EOI here.
Startupbootcamp is looking for mentors for their brand-new PropTech Accelerator Program! If you are interested and have relevant experience in Data-powered PropTech, Property FinTech or GreenTech Accessibility, submit your EOI here.
If you are planning to go to any of the global fintech events this year, please let us know so we can help with introductions, discounted tickets, and a planned mission program to some of these events.

For more events and opportunities from the community, click here.

Community Updates

Don’t miss all the news and insights from our members and corporate partners from our newsroom.

Aryza Group Appoints Kevin O'Neill as Chief Revenue Officer. Read More.
Change Financial appoints Jennifer Mateer to drive ongoing global expansion. Read More.
Experian to acquire illion in Australia and New Zealand. Read More.
Daon can help you create a single, seamless identity journey for your customers to revolutionize how you do business down under. Read More.
Leading Australian SME Lender Bizcap Launches in the United Kingdom, Offering Faster, More Open-Minded Lending Solutions. Read More.
Three-quarters of banks admit they need to modernise their core — Endava 2024 Retail Banking Report. Read More.
Aryza Group Appoints New Non-Executive Directors. Read More.
Wagepay Launches New Wage Advance Platform Tailored to Support Small Business Needs. Read More.