Standardisation of data access crucial to development of Australian fintech industry
Media Release: Sydney, 4 April 2016 – One of the major challenges facing the emerging Australian fintech sector is the lack of a standardised format for accessing financial data. The complexities of accessing sufficient institutional and client data will be a major limiting factor for many of the fintech companies now trying to establish themselves in the Australian and international markets. Earlier this month, in its statement on the fintech sector, the Government highlighted the need to increase data availability across the financial service sector, to allow new products and services to be developed and support new offerings made available to the market. While supporting the Government’s initiative, InvestmentLink Chief […]
Fintechs push Morrison to enhance quality of credit data
Treasurer Scott Morrison has been urged to turn his encouraging words about fintech into action by pushing the big banks to share more information about customers to boost competition. In an article published in Thursday’s The Australian Financial Review, Mr Morrison said fintech could become a driver of economic growth and said the quality of data was important to those companies seeking to disrupt incumbents. Exactly two years since the comprehensive credit reporting (CCR) regime came into force, the fintech industry wants the government to mandate the regime and to extend the categories of data it captures. Data reported under the CCR allows competitors to the big banks to price […]
Rise in data theft opens door for fintech
The ability to protect sensitive client information will be an integral driver for fintech companies, argues Midwinter managing director Julian Plummer. In a statement, the head of the financial planning software provider said companies that can secure high volumes of confidential data will become particularly important to the financial services industry in the coming years. “Ensuring the safety of all sensitive client data for our advisory clients has become a top priority for Midwinter, and we have taken extreme actions to ensure that information is managed and stored securely, so as to continue Midwinter’s clean slate of zero security breaches.” Zirilio executive managing director Tom Dole said he has seen […]
DA powers speedy Open Banking for clients and consumers
Open Banking in the financial sector delivers more control over data for consumers and access to more competitive deals on products and services.
86 400 unveils Open Banking product
Australia’s first smartbank, 86 400, has today unveiled the first consumer-facing feature developed using Open Banking product data
Thank You & Merry Christmas!
From the team at Australian FinTech, we’d like to say a massive THANK YOU to everyone who has supported us over the past 12 months.
86 400 marks completion of key milestones on road to public launch in 2019
86 400, a genuine alternative to Australia’s Big Four Banks, can today disclose that it has successfully achieved a number of key milestones as part of its mission to give Australians a better banking experience. The major milestones that the aspiring bank has completed since unveiling include: Product: Field testing of the beta 86 400 app with staff during Q4 2018 — as committed to during June’s unveiling Testing of the 86 400 debit card, Apple Pay, Google Pay and Samsung Pay across Australia and overseas 86 400’s Core Banking Platform sourced from its Australian banking technology partner Data Action has been operational for a number of months. All payment rails […]
DTCC Comments on EMIR REFIT
With the EMIR refit now live as of Monday, 29 April 2024, DTCC issued the following statement.
