Australia is a Friendlier Place for Fintech Firms, Starting Today
Global competition over Fintech companies, one of the fastest growing industry in the world with billions invested yearly, intensified today with Australia announcing they are largely throwing out the rulebook for the first 12 months. Scott Morrison, Treasurer of Australia, stated: “From today, all eligible businesses will be able to test a range of financial or credit services with up to 100 retail clients and unlimited wholesale clients for up to twelve months without the need to apply for an Australian Financial Services Licence or Australian Credit Licence and without seeking approval....
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Fintech Australia is a national Australian Fintech Industry Association. Their vision is to make Australia one of the world’s leading markets for Fintech innovation and investment. Founded in October 2015, their membership base now comprises over 70 startups, venture capital funds, hubs and accelerators across Australia that specialise in Fintech. As a not-for-profit organisation, they support the Australian Fintech community, build awareness and trust in Fintech startups and advocate for better policy on behalf of our members. Fintech Australia is the voice for Fintech innovation in....
The annual FinTech 100 list has listed nine Australian FinTech companies among the world’s leaders in the sector, according to a report by StartupSmart, an Australian publication for the startup community. Compiled by H2 Ventures and KPMG FinTech, it listed Prospa, Tyro, and Society One within the top 50 established leaders category, and HashChing, Afterpay, Brighte, Data Republic, Identitii, and Spriggy within the top 50 emerging firms. Speaking to StartupSmart, Beau Bertoli, Prospa founder and CEO, said that it was a major achievement to be recognized alongside of firms such as Square,....
FinTech Australia, the country’s national financial technology association, has appointed Danielle Szetho as CEO. This is exciting news for blockchain enthusiasts. FinTech and blockchain technology adoption seem to go hand-in-hand. The distributed and decentralized ledger is often seen as a valuable ally for the future of financial technology. FinTech....
While it is crystal clear to a lot of people how something will have to change in the financial sector as we know it today, government officials are not always on the same page in this regard. The concepts of Bitcoin and FinTech seem to be confusing a large amount of politicians around the world, as their natural reaction is to overregulate these industries and preserve the financial ecosystem as we know it. But that situation is about to change, as FinTech Australia put together a manifesto for the federal government to expand the current ecosystem and allowing FinTech startups to breathe....
It has to be said, Australia is showing a very bullish trend where venture capital is concerned in 2016. The fintech industry is heating up in Australia as of late. Westpac is backing a second AU$50m startup fund for fintech startups in the country. The bank will do so in collaboration with Sydney-based VC firm Reinventure. The hunt for promising Australian fintech startups is in full swing, and it is positive to see Westpac being part of this initiative. It is not the first venture by Westpac in the fintech industry either. The financial institution had shown its support for the local....