Senate fintech committee re-opens inquiry to focus on COVID-19 aftermath

The Select Committee on Financial Technology and Regulatory Technology in October kicked off an inquiry to examine the size and scope of the opportunity for Australia financial technology (fintech) and regulatory technology (regtech) present.

On Friday, the committee announced it would re-open submissions in direct response to the COVID-19 outbreak.

“Since the committee finished its last round of public hearings in February, Australia’s economic and financial environment has changed dramatically as a result of the unfolding COVID-19 pandemic,” it said.

“The committee is keenly aware that these rapid and unexpected changes will have a significant impact on the fintech and regtech sectors.”

The committee said it would not press ahead with its previous timetable, allowing new submissions to be made until 10 April 2020.

“The committee has re-opened its inquiry submission process to enable submitters to provide further input to the committee on what the critical needs of the sector are at this time,” it said.

It is hoping further submissions will provide information on what support is necessary in the short, medium, and long term, including post-coronavirus recovery, focusing on solutions that could be delivered swiftly by government and the private sector.

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Source: Senate fintech committee re-opens inquiry to focus on COVID-19 aftermath | ZDNet