government

Aug
06

OFX’s UK e-money licence shows up relatively sluggish Aussie fintech laws

ASX-listed online foreign exchange provider OFX will issue a trading update alongside its annual general meeting on Tuesday, and it is part of its aspirations to be a fintech player of global scale. A central element to this vision is the ability to expand its range of payment services. And so its announcement last week […]

By Reposted by Australian FinTech | ASX . Currency . FinTech
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Aug
06

Laggard bank tech blasted by Treasurer, Productivity Commission

Treasurer Scott Morrison has taken a blowtorch to the slow pace of technology-driven reform in Australian banks, using the release of a blistering Productivity Commission report on financial system competition to vow the new Open Banking regime will be used to smash entrenched interests. In a speech delivered on Friday, the Treasurer doubled down on […]

By Reposted by Australian FinTech | Banking . FinTech
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Aug
03

Morrison to fintechs: ‘Don’t stuff it up’

Treasurer Scott Morrison has told leaders of the fintech industry he’s counting on them “not to stuff up” the implementation of open banking because he wants the government’s new consumer data right to be a driver of competition and productivity gains across the economy. With the major banks lifting technology investment to fend off disruptive […]

By Reposted by Australian FinTech | Banking . FinTech
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Jul
09

Open banking rules fuel financial planning shake-up

The financial planning industry is poised for a shake-up as the government’s plan to make it easier for customers to access banking data drives new technology that will allow advisers to respond in real-time to the changing financial circumstances of their clients. Open banking will also change the financial advice industry by allowing advisers to […]

By Reposted by Australian FinTech | Banking . FinTech
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Jul
09

More jobs for Australians as Silicon Valley Fintech opens APAC headquarters in Victoria

An announcement made by the Victoria Government focused on Melbourne being the new Asia-Pacific Headquarters of a Silicon Valley fintech innovator. Victoria’s growing fintech sector will be boosted as Nomis Solutions, a Silicon Valley fintech innovator, has announced that Melbourne will be the location of their Asia-Pacific Headquarters. This move will be creating 50 jobs […]

By Reposted by Australian FinTech | FinTech
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Jun
26

Comprehensive credit reporting laws will drive innovation and protect banks

In the blue corner, lining up to support the bill to ensure customer repayment history is provided in credit reports, are: the government, all of the banks, the entire fintech industry, the credit bureaus, the regulators (especially the Australian Prudential Regulation Authority), and many equivalent western economies such as the US, UK, Canada and New […]

By Reposted by Australian FinTech | Banking . FinTech
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Jun
15

Fintechs tell Labor a credit report delay will entrench bank power

Labor’s push to delay a law requiring the major banks to put more customer data into credit reports will entrench the big four’s market dominance and keep the cost of personal loans unnecessarily high, five of the nation’s leading marketplace lenders have said. In a letter to shadow treasurer Chris Bowen, the CEOs of SocietyOne, […]

By Reposted by Australian FinTech | Borrowing . FinTech . Lending
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Jun
15

Australian fintech and cyber companies explore global opportunities

The programme will bring together the UK and Australian fintech and cyber ecosystems to share best practice, knowledge and encourage long lasting connections and partnerships between the UK and Australia. The UK Department for International Trade (DIT) is supporting the Australian British Chamber of Commerce’s ‘Australian British Fintech Cyber Catalyst (ABFCC) which takes place in […]

By Reposted by Australian FinTech | FinTech
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