FinTech Voice, March 27, 2025
Hi FinTech Australia Community,
A bit of a disappointing start to the day with the lack of explicit tech sector investments (not just fintech) in the budget announcement the day before yesterday. We have been actively advocating for reform to boost the fintech sector but the focus was the direct impact to consumers.
We will continue our push to showcase the impact of the industry and how fintechs have directly addressed some of what the government is looking to solve - cost-of-living and boosting productivity. If you have any thoughts or would like to join the conversation, please reach out to us.
In other news, the Finnies applications have been extended to Friday, 28 March 2025, 10 PM AEDT. Please note that this is the final extension and no further extensions will be granted. Submit your applications today!
Have you heard our latest podcast on surcharging? It's getting some amazing traction and we hope to have more in-depth conversations like these. This is part of our podcast revamp! It will feature panel type discussions where you can nominate speakers and choose thought-provoking topics that matter to the fintech community. Express your interest here.
Kind regards,
Rehan D’Almeida,
Chief Executive Officer,
FinTech Australia
Policy Update
ACCC Merger Assessment Guidelines – Consultation Open
The ACCC has released draft Merger Assessment Guidelines for public consultation ahead of the new mandatory merger control regime starting 1 January 2026, with voluntary notification available from 1 July 2025. The guidelines outline the ACCC’s analytical framework for assessing notified acquisitions and aim to provide greater transparency and predictability for businesses and advisers. Submissions are due by 17 April 2025.
FinTech Australia will make a submission and will provide further updates shortly. Members interested in contributing are encouraged to contact our policy team.
Treasury Releases Digital Asset Policy Statement
The Federal Government has released its Digital Asset Policy Statement, outlining its vision to support innovation while protecting consumers. The strategy focuses on four key areas:
A regulatory framework for Digital Asset Platforms (DAPs)
A framework for payment stablecoins, treated as Stored-Value Facilities
A review of the Enhanced Regulatory Sandbox
Initiatives to unlock the benefits of digital asset technology across the economy.
The Government also released its response to the Board of Taxation’s Review, suggesting no need for crypto-specific tax legislation at this time, while noting that areas like DAOs, DeFi, GameFi, and NFTs may require further consideration as the market matures.
FinTech Australia supports a fit-for-purpose regulatory approach to digital assets and will continue to work with members and government to ensure the framework supports responsible innovation and long-term industry growth.
OAIC Update on Access Seekers and Credit Reporting
The Office of the Australian Information Commissioner (OAIC) has published a blog outlining its interim position on access seeker provisions in the credit reporting system, while the government considers recommendations from the independent review.
Organisations may continue to use these provisions under current law, provided their use is based on a good faith and reasonable interpretation, with appropriate consumer protections in place. The OAIC has indicated it may take regulatory action if there is evidence of consumer harm or misuse. In the interim, the OAIC encourages careful compliance with the Privacy Act and Credit Reporting Code, and has signalled it will continue monitoring developments closely.
FinTech Australia’s Pre-Budget Submission: Supporting a Stronger Innovation Ecosystem
In a recent submission to the Treasury, FinTech Australia called for urgent recalibration of the Research & Development Tax Incentive (RDTI) and the Early Stage Venture Capital Limited Partnership (ESVCLP) program to better support early-stage fintechs navigating tightening capital markets.
The submission also makes 11 recommendations, including enhancements to the Enhanced Regulatory Sandbox, increased resourcing for regulators (ASIC, APRA, ACCC, and AUSTRAC), expansion of the Consumer Data Right, and further investment in cybersecurity, AI, and emerging technologies. It also advocates for a streamlined fintech talent visa pathway, stronger export positioning through renewed collaboration with Austrade.
FinTech Australia will continue to work with government to ensure policy settings remain fit-for-purpose to support Australia’s digital economy and the long-term success of its fintech sector.
Other news
Tipping Off Guidance - AUSTRAC has released updated guidance on "tipping off" provisions.
2024 Compliance Reports - AUSTRAC reminds all reporting entities that 2024 Compliance Reports are due by 31 March 2025.
We are working on these submissions:
Strategic Examination of the Research & Development system.FinTech Australia is currently facilitating our consultation process. If you would like to share your views or participate, please contact our policy team. Stay tuned for further updates in our upcoming communications.
We recently made submissions on:
Consultation Paper 382: Low cost credit contracts & Draft RG 000 Low cost credit contract
Review of Merchant Card Payment Costs and Surcharging - Issues Paper
Consumer Data Right Rules – Non-Bank Lending and Banking Data Scope Consultation
Introducing Mandatory Guardrails for AI in High-risk Settings
See ourrecent 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
Save the dates for our events in 2025!
Mark your calendars and reach out to the team if you have any enquiries or would like to support any of these events.
The Finnies - Award entries are extended until March 28, 2025 & gala night tickets are now on sale!
🗓 Thursday, 26 June 2025
📍 Doltone House Jones Bay Wharf, Pyrmont, NSW
International Delegations Opportunities including Money20/20 Bangkok, UK Fintech Week, Seamless Fintech Dubai, Money20/20 Europe, and more!
Events from the community
🗓 1 April 2025
📍Amora Hotel Jamison Sydney, NSW
🗓 2 April 2025
📍Podium Sydney, NSW
🗓 22-24 April 2025
📍Queen Sirikit National Convention Center, Bangkok, Thailand
🗓 12-13 May 2025
📍Madinat Jumeirah, Dubai
The Business Show [Get free tickets today!]
🗓 5-6 November 2025
📍ICC Sydney, NSW
For all events and opportunities from the community, click here.
Exclusive Opportunities
Unlock Funding for Innovation: Claim up to 43.5% Back on Eligible R&D Activities
Access a free consultation with one of Grant Help's expert R&D advisors to assess your eligibility, identify your potential rebate, and guide you through the application process. Submit EOI here.
Or register toGrant Help's R&DTI Webinar on the 27th of March.
The Banking and Financial Services Oath Young Ambassador (YA) program applications closes 4th of April 2025. This program encourages and supports final year students, graduates and young professionals to adopt a strong ethical foundation and supportive network, as they begin their careers in the banking and financial services industry. Apply here.
Community Updates
Don’t miss all the news and insights from our members and corporate partners from our newsroom.
Instantia is transforming FX management by providing clients with the tools and expertise to navigate their transactions with full transparency. By leveraging advanced technology, Instantia helps mitigate risks and enables real-time adjustments that align with financial goals. Learn more through this week's member spotlight here.
Wisr welcomes inaugural Chief Innovation Officer. Read More.
Money20/20 Asia announces stellar keynote lineup and agenda at-a-glance. Read More.
Change Financial expands sales team with appointment of two new VPs of Strategic Business Development. Read More.
Send Payments strengthens board with two significant appointments. Read More.
With the tech startup sector underserved by traditional banks, Zeller announces Australia’s first all-in-one financial solution for founders. Read More.
HeirWealth announces significant integration with Class Super to better serve investors and financial professionals. Read More.
Christian Westerlind Wigstrom appointed as Alternate Director at Australian Payments Network. Read More.
SWYFTX ACQUIRES NZ’S LARGEST CRYPTO EXCHANGE. Read More.
The Rise of Technology Company Insolvencies in Australia and the Role of Software Escrow. Read More.
HeirWealth announces new partnership with HTL Private Office to enhance offering to high net worth clients. Read More.
PocketSmith’s first white paper reveals how Australian "household CFOs" are using open banking to take control. Read More.
Bolt Group Strengthens for Global Growth Strategy with Industry Leader David Foster Appointed Chair-Elect. Read More.
Data Zoo and LAB Group Partner to Enhance Global Identity Verification Solutions. Read More.
Revolut launches local EUR accounts to enable frictionless currency payments for Business and Retail customers. Read More.
For more news from the community, see here.
New Members
Let's welcome FinTech Australia's new members! 🎉
FinTech Australia's Podcast
Listen to the challenges, opportunities, and stories from our community faces across the fintech industry in Australia! 🇦🇺
A Special Podcast Episode is LIVE! — Surcharging and Reforms to the Payments System
In this special episode, Andrew Cornell, Financial Services Editor at Capital Brief, unpacks the complex issue of surcharging in Australia's fintech sector.
Featuring insights from Ben Pfisterer, CEO & Co-founder of Zeller, and Dan Martin, Senior Vice President at Mastercard, the discussion covers surcharging, subsidising payment costs, and what’s next as the RBA reviews surcharging regulations.
