FinTech Voice, May 9, 2024
Hi Community,
Your biggest event to connect and celebrate with industry leaders is almost here. With the event back in Sydney, tickets are selling quick and it is limited. Secure your tickets for the Finnie Awards 2024.
We'd love to see fintechs in AFR's Most Innovative Companies list, that aims to showcase companies that are revolutionising industry standards. Nominations close Thursday May 30, 2024 so apply soon!
Lastly, network with the fintech community and hear from Visa's Principal APAC Economist Dr Simon Baptist at Visa’s Fintech Community Event in Sydney and Melbourne.
Kind regards,
Rehan D’Almeida,
Chief Executive Officer,
FinTech Australia
Policy Update
Review of Australia’s Credit Reporting Framework
The Government has launched an independent review of Australia's credit reporting framework by releasing an issues paper to invite feedback on its performance and to develop recommendations for government to improve its operation. Key issues covered include access to and use of credit reports, relationship with the Consumer Data Right, mandatory credit reporting and the types of credit data regulated by the Privacy Act.
FinTech Australia will make a submission. We have circulated information about how to get involved to our Lending Policy Working Group and invite any interested parties to contact our policy team about contributing to our submission.
The closing date for submissions is 31 May 2024.
New round of consultation on AML/CTF reforms
The Attorney-General's Department has commenced a second round of consultation on reforming Australia's anti-money laundering and counter-terrorism financing regime. Detailed feedback has also been provided on the first round of consultation.
The consultation package contains a paper focused on proposals for digital currency exchange providers (DCEPs), remittance service providers and financial institutions. FinTech Australia will make a submission focusing on this aspect.
We will circulate further information to our Compliance and Privacy Working Group and invite interested parties to contact our policy team. The closing date for submissions is 13 June 2024.
RBA releases report on interlinking fast payment systems for cross-border payments
The RBA has published a report about the interlinking of fast payment systems across countries. The report analyses the benefits, design choices and challenges associated with linking fast payment systems across countries and will help inform future discussions about the potential for the Australian fast payment system, the New Payments Platform, to be linked to fast payment systems in other countries.
We are working on submissions to:
We recently made submissions on:
Payments System Modernisation (Regulation of Payment Service Providers) consultation paper
Reforms to the Payment Systems (Regulation) Act 1998 – Exposure draft legislation consultation
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
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! Tickets are selling fast. Get your tickets before it sells out 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.
Explore the purpose, structure, and key considerations of company or shareholder-led transactions, as well as GP-led secondaries and the role of continuation funds in providing liquidity and opportunities for all parties involved at the Secondary Sales for Startups and Investors Webinar presented by Allens.
Meet the NSW startup and scaleup community and network with Founders, Investors, Mentor, Government, and Industry Partners at the Stone & Chalk Ecosystem Drinks in Sydney on the 16th of May!
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 Melbourne.
Hear from Visa’s Principal Asia Pacific Economist Dr Simon Baptist and network with Visa and the fintech community at Visa's Fintech Community Event in Sydneyand Melbourne.
Join Endava’s panel of Payment experts as they unpack Payment activity notably around Real-Time Payments, Open Banking and the evolution of traditional gateways. Register for The Global Direction of Payments Webinar.
Register for the Australian Technologies Competition — a pitch competition, 2 day masterclass, and awards ceremony showcasing the best in Aussie Tech.The The competition is open to Australia-based technology companies across various sectors including clean energy, fintech/regtech, medtech, critical technologies (Web3), advanced manufacturing, social impact, and more.
Get your tickets for the TechDiversity Awards 2024with a theme of 'Unleashing Impact with DE+I Powerhouse'. Celebrate the remarkable strides in diversity, equity, and inclusion within technology workforces across many industries, and explore how these crucial values drive success.
Opportunities to not miss
For the first time, we are opening applications for unique sessions and dynamic speakers that will inspire Intersekt Festival 2024. Submit your EOI here.
If you are an Australian scale-up working on innovative fintech solutions and are interested in exporting to India, join the India Tech Export Catalyst (ITEC)! Read more about it and 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.
Kashcade raises $23M and enters R&D lending space. Read More.
Touch2Pay and CTEL Forge Partnerships to Revolutionize Payments in Healthcare. Read More.
Regchain's 'Stryd' app is unlocking the power of the Consumer Data Right for mortgage brokers and borrowers by turning Product Reference Data into a home loan financing tool. Read More.
NRMA and PokitPal Announce Partnership to Provide Card-Linked Rewards to Over 3 Million Members through myNRMA App. Read More.
LAB Group Integrates with CreditorWatch to Automate Complex Due Diligence in Digital Onboarding. Read More.
Olliv is now CoinFlip in Australia and New Zealand. 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! 🇦🇺
In our latest Business Spotlight series, we had the pleasure to sit down with Marshall Pribadi, CEO & Founder and Rob Hotchin, Country Manager of Privy Australia — a certified digital ID provider trusted by over 45 million users.
We explored the business’s origins, upcoming initiatives to deliver easy, fast, and verified digital signature solutions to the Australian market, and the future of the Australian digital ID landscape.
