FinTech Australia has holding a reverse pitch event later this month in a collaboration with major banks ANZ and Westpac, as well as fintech investor 1835i. The initiative will see ANZ and Westpac share selected problem statements across banking-related areas such as sustainability, payments and fraud and scams for fintech startups to tackle as part… Read more »
Airwallex, the Melbourne-born fintech unicorn, is preparing to list publicly over the next two years according to one of its cofounders. The international payments business, last valued at US$5.5 billion (A$8.5bn) when it raised US$100 million in late 2022, turns 10 next year, having raised US$902 million in the seven years since it was founded… Read more »
Australian fintechs are looking offshore for success, hampered by the funding climate and regulatory complexity account to the latest EY FinTech Australia Census. The eighth census, a collaboration between Ernst & Young and industry group FinTech Australia, reveals a mature sector that overall is performing well. A record 88% of respondents said they are post-revenue,… Read more »
While the federal government trundles along with the roll out of a national digital ID framework, Australian Payments Plus (AP+), the consortium fintech backed by BPAY, eftpos and NPP Australia, has developed its own solution to tackle verification, fraud and identity theft, ConnectID. ConnectID lets people verify their identity to third parties without having to repeatedly… Read more »
There are few stores without an Afterpay logo displayed on the door, or that don’t offer Laybuy at their online checkout. And these schemes are particularly popular with younger consumers. But what price might these buyers be paying for the conveniences of buy now, pay later? Our new research investigated how young New Zealand adults… Read more »
Small business invoice lender Waddle is getting new parents, with the Commonwealth Bank taking the fintech off Xero’s hands, three years after the ASX-listed accounting platform acquired the Sydney scaleup in an $80 million deal. Waddle, co-founded in 2014 by Simon Creighton and Nathan Andrews, makes it easier for banks and fintechs to lend to… Read more »
Anyone who has heard me speak over the year and a bit since I became the Minister will have heard me talk about scams. And in particular, we believe the Consumer Data Right can be used to make a real, lasting difference. Scammers are causing untold misery across the country. Conservative estimates tell us that… Read more »
FinTech Australia has updated and relaunched one of its key resources for the fintech industry: the interactive ecosystem map it first released in February last year. The sector’s peak body is also calling for local fintechs to check and update their business details on the map to ensure that they fully capitalise off the resource.… Read more »
More than 6 million Australians have used the “buy now, pay later” lending services offered by Afterpay, Zip and more than a dozen other companies. Buy now, pay later offers an easy and convenient alternative to credit card services. You can sign up and have your loan approved almost immediately. One reason for this is… Read more »
The government is moving to regulate buy-now-pay-later (BNPL) services under the Credit Act and force companies like AfterPay, to follow a set of responsible lending obligations. Financial Services Minister Stephen Jones on Monday that he wanted to maintain innovation and competition in the market but stop the “harmful effects of poor marketing practices and poor… Read more »
Australia is the third country in the world to offer Apple’s Tap to Pay, which lets small businesses accept payments via in-person contactless payments on the iPhone. Retailers, restaurants and other merchants can now use an iPhone to accept Apple Pay, contactless credit and debit cards, and other digital wallets with no extra hardware or… Read more »
Early stage investment company Antler Australia recently backed a new cohort of startups as part of its ongoing program to build great local tech companies. Startup Daily is sharing the details of each venture in the “Antler Investor Memos” series, which is designed to give you a quick, sharp understanding of the startups and people… Read more »
The first mover advantage that turned Block-owned Afterpay enjoyed since its launch nine years ago is about to end, with the world’s most valuable tech company, Apple, set to become Australia’s leading buy-now-play-later (BNPL). The Roy Morgan Digital Payments Report reveals it’s taken just 7 years for Apple Pay to build its local market penetration,… Read more »
Move over ‘financial wellness’, the next frontier for fintechs is ‘financial intelligence’, says the founder of digital banking alternative Yondr. Money management is something of an obsession for Melbourne-based entrepreneur Shane Chanel. He first knew he wanted to be a financial planner as a 16-year-old student at Melbourne’s Nazareth College. After studying financial planning at Deakin… Read more »
As inflation and interest rates continue to rise, digital banking alternative Yondr is stepping up to help Australians save on hidden fees and budget better. Backed by former ANZ CEO Mike Smith, the fintech startup was developed and founded by Shane Chanel in 2018. Bringing more than 15 years of experience in finance and banking to… Read more »
Daily startup news and insights, delivered to your inbox.
