Today, the UK Chancellor of the Exchequer Philip Hammond announced an updated agreement signed with Australian Treasurer Scott Morrison to firmly establish a Fintech bridge between the two countries. This virtual bridge will see both public officials and private partiers working together to foster Fintech… Read More
As was announced earlier today (and leaked out earlier this week) the Australian and UK governments have signed an “enhanced cooperation agreement” on Fintech innovation. Under the new agreement the Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA) will continue to… Read More
Last July, Australia commissioned a review of Open Banking seeking recommendations as to how to best pursue this policy shift in Australia. Commissioned by Treasurer Scott Morrison, MP and chaired by Scott Farrell, the Australian government has now published a report that makes 50 recommendations…. Read More
The Australian Securities Exchange (ASX) will migrate away from its Clearing House Electronic Subregister System or “CHESS” to a system using Distributed Ledger Technology (DLT) commonly referenced as Blockchain. The CHESS platform has been in place since the 1990s. ASX said it is now taking… Read More
Prospa, an online lender serving SMEs in Australia, had a visit from the Honorable Scott Morrison yesterday. The Treasurer of Australia help to open up Prospa’s new high tech Darlinghurst office, which apparently is quite large extending over two floors housing a team of 150…. Read More
FinTech Australia has welcomed the announcement about “comprehensive credit reporting” by Treasurer Scott Morrison at the opening day of the Collab/Collide Summit in Melbourne. The Australian Government will mandate a comprehensive credit reporting regime that should help Australian borrowers get a better deal from lenders,… Read More
The Australian Government has introduced a legislative framework for an “enhanced regulatory sandbox” to enable new Fintech products and services to be tested in Australia. The proposal is designed to extend the scope of activities beyond that of the regulatory sandbox launched by ASIC in… Read More
This week the Australian Parliament introduced new legislation that will extend crowdfunding or “crowdsourced equity funding” (as the Aussies call it) to private companies. This is an important fix that will create a far more robust and equitable crowdfunding ecosystem in Australia. Earlier this year,… Read More
Pointing to the recently published EY Fintech Adoption Index, Australia is doing a bit of chest pounding as their prominence in the Fintech sector rises. In a public release, FinTech Australia says Australia is now a world leader in Fintech adoption jumping ahead of other… Read More
Australia is embracing the innovation of Fintech. The advancement in the rest of the world has not been ignored. Seeing opportunity, the Australian government has been working on crafting an environment where rules do not hinder financial innovation and regulations are crafted to encourage competition… Read More
The debate regarding Fintech revolution almost always includes a discussion of regulation. And it should. The financial industry is one of the most regulated sectors of commerce there is. But as Fintech has evolved an emerging ecosystem of firms seeking to facilitate regulatory compliance has… Read More
The Turnbull government announced in February of this year their intent to establish Australia as an Asia-Pacific hub for Fintech. The Hon. Scott Morrison MP said at that time; “FinTech will have an important role to play in Australia’s innovation future, that’s why the Turnbull Government… Read More
A growing number of governments are seeking to provide political might to support financial innovation. While the UK may have trailblazed a path for the rest of the world, there is still time to catch up but without governmental acknowledgement it is pretty tough to… Read More
Crowdfund Insider is the leading news and information web site covering the emerging global industry of disruptive finance including investment crowdfunding, Blockchain peer-to-peer / marketplace lending and other forms of Fintech.
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