Prospa celebrates progress for fintech sector

Prospa celebrates progress for fintech sector

While small business lender Prospa welcomed the interim report just published by the Senate Committee on Financial Technology and Regulatory Technology, the group has agreed with others within the space that more needs to be done to support the adoption and utilisation of the new open banking system.

Prospa actively engaged with the Senate committee over the last 10 months, attending round table industry sessions and making several submissions in which the group advocated for many of the recommendations which were ultimately included in the report.

“We’re pleased with the findings of the senate committee’s interim report… In particular, we’re impressed with the focus on ensuring regulators support competition and innovation in the market,” said Anna Fitzgerald, Prospa group head of corporate affairs.

“We support a clear consistent pro-innovation regulatory environment with appropriate levels of regulation… we’ve experienced firsthand that self-regulation is an efficient way to encourage industry to improve competitiveness by focusing on investment in innovation to deliver better customer outcomes.”

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Source: Prospa celebrates progress for fintech sector