#Fintech Australia
Fintech firm BankiFi announces Australia expansion to support SMEs
UK-based technology platform BankiFi has announced its entry into the Australian Financial Services market.
SMEs trading banks for fintechs, poll suggests
Fintech and other non-bank lenders are set to overtake banks as the preferred source of growth funds for Australian SMEs, the latest Scottish Pacific SME Growth Index suggest. [Related: Let’s Talk… Fintech, FinTech Australia’s CEO steps down but will continue to help Aussie fintechs from Asia and Fintech Code of Conduct recommended by report into best-practice for SME […]
Expanded fintech regulatory sandbox must be geared towards innovators: industry body
FinTech Australia have flagged their support for the Federal Government’s proposed legislative changes to the fintech regulatory sandbox but called for further improvements to make the sandbox more robust and fintech-friendly. Earlier this month, FinTech Australia’s chair Stuart Stoyan gave evidence to the Senate Economics Legislation Committee, which is inquiring into the provisions of the Treasury Laws […]
FinTech Australia’s CEO steps down but will continue to help Aussie fintechs from Asia
In the wake of announcing her resignation as CEO of industry association FinTech Australia, Danielle Szetho has flagged her intentions to continue supporting and championing Australian fintech companies from Asia. Sarah Worboys, formerly of the Startup Victoria Female Founders committee, will step in as interim CEO for FinTech Australia, whose chair Stuart Stoyan thanked Szetho […]
Entries now open for the 2018 Finnie Awards
Entries are now being accepted for the second annual Finnie Awards, giving Australia’s 600+ fintech companies an opportunity to be recognised for their successes. Presented by FinTech Australia in partnership with the NSW Government’s Jobs for NSW, the industry-backed ‘Finnies’ boast 23 awards, including FinTech Organisation of the Year, Outstanding FinTech Leader of the Year, […]
Fintech Code of Conduct recommended by report into best-practice for SME lenders
A report outlining steps being taken by fintech lenders to increase transparency and disclosure has been released by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate Carnell, in partnership with FinTech Australia and theBankDoctor.org. The report, Fintech lending to small and medium sized enterprises: Improving transparency and disclosure, looks at the different approaches to […]
Parliament urged to quickly pass, implement legislation to help SMEs crowd-source funding
The peak body for Australia’s fintech industry has urged Federal Parliament to prioritise a ‘vital new source of funds’ for SMEs by expediting the approval and implementation of private company equity crowdfunding legislation introduced in September 2017. According to FinTech Australia chair Stuart Stoyan, the Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Bill 2017 has […]
ASX decision will spur corporates to explore blockchain applications: FinTech Australia
The decision by the Australian Securities Exchange (ASX) to use distributed ledger technology for its settlement and clearing system for equities transactions has been welcomed by industry association FinTech Australia. Distributed ledger technology developed by Digital Asset will replace CHESS (Clearing House Electronic Subregister System), which ASX currently uses to record shareholdings and manage the […]
“Innovation will flourish” in the digital currency sector as anti-laundering laws pass
The passage of anti-money laundering legislation through Parliament on Thursday will facilitate further growth in Australia’s local blockchain and digital currency industry, according to local fintech leaders. The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017 will extend anti-money laundering and counter-terrorism financing regulation to digital currency exchanges. The legislation requires these exchanges to monitor […]
The Fintech sector’s median revenue has tripled but gender imbalance persists, EY report finds
Median revenue in Australia’s fintech sector has jumped by 208% over the 12 months to June 2017, with one in four companies (24%) enjoying a revenue boost of at least 700%, the 2017 EY FinTech Australia Census reveals. According to EY, the Census, which is based on survey results from 166 fintech companies, is “the […]
“Game-changer”: Fintech Australia welcomes changes to draft crowdfunding legislation
Changes made to the draft crowdfunding legislation, which will allow private companies to crowdfund equity, will protect investors while reducing costs and red tape for companies, according to advocacy group FinTech Australia The draft crowdfunding legislation was introduced into the Australian Parliament by Treasurer Scott Morrison, yesterday. FinTech Australia expects the legislation to provide a new fund-raising […]
The NSW Government is launching a $35 million innovation hub; the startup community reacts
The NSW Government has pumped $35 million into the creation of a startup and innovation hub, which will occupy 17,000 square metres, across 11 floors, on York Street in Sydney’s CBD. In a joint statement, Premier Gladys Berejiklian and Small Business Minister John Barilaro said the Sydney Startup Hub will be the largest startup hub […]