The federal government says it will “reset” the Consumer Data Right (CDR) after three years to improve its uptake and make it cheaper to access. Assistant treasurer Stephen Jones is going back to the drawing board, opening a month-long consultation process, with Treasury releasing a paper on proposed changes to the consent and operational rules… Read more »
Next week, the Australian Parliament will cast a pivotal vote on advancing the Consumer Data Right (CDR) to Action Initiation. This decision could redefine consumer freedom and competition across the nation, making it one of the most significant moments in our history. What is Action Initiation? Action Initiation will enable consumers to take unprecedented control… Read more »
Investment fintech Blossom believes it’s on target for its goal of $100 million in funds under management (FUM) by the end of the year, having hit $75 million thanks to a new product targeting a 7% return. The fixed income app, launched in 2021 by siblings Gaby and Ali Rosenberg, has been able to lift… Read more »
Three years ago amid the BNPL goldrush, fintech Limepay was hoping to list on the ASX. It wasn’t to be for the white label buy-now-pay-later platform, founded in 2016, which billed itself as Australia’s first enterprise payments fintech. But Limepay, which rebranded in 2022 as April Solutions, will become a listed company after being swallowed… Read more »
Australia’s Consumer Data Right (CDR) turned four this week, and as the fintech sector gathered at a sold out event to discuss and debate its progress and possibilities, industry lobby group the Australian Banking Association (ABA) released a massive whinge on the issue. The ABA commissioned a strategic review of open banking from consultancy giant… Read more »
WeMoney was the biggest winner at the annual FinTech Australia Finnie Awards, taking home the silver in three categories, including the People’s Choice Award for fintech of the year. The annual awards, which recognise the best in Australian fintech, saw FrankieOne take home the top gong as Fintech Organisation of The Year award, while digital… Read more »
Following the massive success of its inaugural CDR (Consumer Data Right) Summit last year, FinTech Australia will run its second gathering in Sydney to start the new financial year. The CDR summit at The Hilton in Sydney on Wednesday, July 3, will showcase local and international experts, policy makers, founders and builders discussing the future of… Read more »
India is now the third largest fintech industry in the world, with 1.4 billion people making 135 billion digital transactions last year. That makes it ripe territory for Australian startups, such as FootprintLab, looking to expand globally. Sydney-based cleantech FootprintLab has a product in global demand: credible, up-to-date and commercially useful carbon footprint data. Regulators,… Read more »
FinTech Australia has announced the finalists for Australia’s most prestigious annual fintech business awards, The Finnies. This year’s awards attracted more than 322 entries across 19 categories, resulting in shortlist of 154 finalists. The Finnies are judged over two rounds by more than 70 experts from the fintech ecosystem. The first round saw around 30 judges… Read more »
Fintech Citro has launched a rewards program for Australians around retirement age, offering savings from more than 200 retailers. AMP-backed Citro launched in 2023 and already has more than 75,000 members on its platform. They receive tailored content and insights to help them take control of their finances as they approach and manage their retirement.… Read more »
Sydney fintech Avenue Bank has been granted a full banking licence by the financial regulator APRA. Avenue has been on what’s known as a a restricted Authorised Deposit Taking Institution (ADI) licence since mid-2021 after raising $37 million in a series B earlier that year. The granting of a full ADI by the Australian Prudential… Read more »
The annual FinTech Australia Finnies Awards will return to Sydney for the presentation night in June after six years in Melbourne. The awards, now in their eighth year, were first held in Sydney in 2016 then 2017 before heading south. The presentation night will be held on June 6 at Doltone House in Jones Wharf,… Read more »
A slew of recent media reports from around the world have confirmed what we and many of our friends and family have known for a very long time as immigrants to a predominantly white and western country: there is a “built in” penalty for being brown and from somewhere else when it comes to banking.… Read more »
Apple Pay overtook Afterpay in average users last year to become the third most widely used digital payment service, according to the latest Roy Morgan Digital Payments Report. While Block-owned Afterpay saw its user base decline over the last six months Apple Pay has more than doubled its share of users in the Australian market over… Read more »
Global payments fintech Airwallex has signed a multi-year partnership deal with the McLaren Formula 1 team, joining the likes of Google Cloud, Chrome, Salesforce and Dell as backers of the recently refreshed F1 cars. McLaren’s 2024 challenger, the MCL38, will be revealed on February 14 ahead of the ahead of the season opener in Bahrain this… Read more »
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