Search Results for: australia

DayTek Capital Plans Launch of “Product Disruptive” Digital Bank in Australia: Infinity

DayTek Capital says it expects to launch a new digital bank “Infinity” in Australia by mid-2020. The company describes the forthcomin bank as “product disruptive,” without providing too many details. Additionally, DayTek reports the Australian government is assisting with the Fintech getting established as Trade… Read More

Australian Senate Select Committee on Fintech & Regtech Publishes Issues Paper

The Australian Senate Select Committee on Financial Technology (Fintech) and Regulatory Technology (Regtech) has published an “Issues Paper outlining what it intends to review and report back to the Senate. The Committee was established in September 2019 and consists of six senators. The Fintech and… Read More

Australia’s Westpac Banking Corporation Is Planning to Launch a New Digital Banking Platform

Sydney-based Westpac, one of Australia’s first banks and first companies, is reportedly planning to introduce a new digital banking platform in order to attract younger clients that may otherwise prefer opening accounts at neo banks. Westpac’s decision to launch a new digital brand was announced… Read More

Report: Australian Stock Exchange (ASX) Rival Chi-X Concerned ASX’s New Blockchain Settlement System Could Be Anti-Competitive

Chi-X, an Australian stock exchange that handles about 20% of the country’s trades, is concerned that a new cost-cutting blockchain registry, settlement and clearing system being developed by rival ASX will enhance the ASX’s market dominance over settlement, Reuters reports. Chi-X, a subsidiary of New-York-based… Read More

Digital Asset Exchange, Mine Digital, Launches in Australia with Financial Services License

Mine Digital, a digital asset exchange, has launched in Australia. According to the company, the exchange is the first to launch with an Australian Financial Services License. The license allows Mine Digital to create markets in derivatives products including options and more. Mine Digital will… Read More

EY Fintech Australia Census: The Fintech Industry is increasingly profitable and the year on year revenue growth trend continues

For the fourth year in a row, EY Australia has partnered with Fintech Australia to publish a “census” on the status of the Fintech industry. The census is the result of a survey of 120 different Aussie Fintechs. In this year’s report, EY states that… Read More

Australia: Lime Shuts Down “Digital Advice Tools” Following Concerns Raised by ASIC

Lime FS Pty Ltd has agreed to shut down “digital advice tools” following concerns raised by the Australian Securities and Investment Commission (ASIC). According to ASIC, Lime has voluntarily shut down two digital advice referenced as robo advice. Lime FS’ corporate authorised representatives, Plenty Wealth… Read More

Aussie-UK Fintech Bridge: Department of International Trade Brings 9 Fintechs to Australia

The previously announced UK-Australia FinTech Bridge Pilot Programme has kicked off with the Department for International Trade (DIT) bringing 9 UK Fintech firms to Australia. The project is part of an ongoing effort to extend the UK’s prominence as a Fintech while building global partnerships…. Read More

Australian Beverage Brand SOFI Spritz Now Seeking A$400,000 Through Equitise Crowdfunding Round

SOFI Spritz, an Australia-based beverage brand, is now seeking A$400,000 (max A$1 million) through its new crowdfunding campaign on Equitise. The company previously raised $11,410 on funding platform Pozible. SOFI has also been on Shark Tank. SOFI is focused on new product development and marketing… Read More

AUSTRAC: PayPal Is Being Audited for Money Laundering, Counter-Terrorism Laws By Australian Authorities

AUSTRAC, Australia’s financial intelligence agency, ordered an audit on September 24 of international money transfers made by online payment service provider PayPal according to a release. Australia’s authorities suspect that the transactions facilitated by PayPal might be associated with serious crimes such as child exploitation. … Read More

Cryptocurrency-Aided Cybercrimine Syndicate Drained Retirement Accounts in Australia

Australian police have “dismantled” a cybercrime syndicate that used cryptocurrencies to purchase “fraudulently-obtained identities” on Dark Net markets and then use these identities to open bank accounts and drain victims’ retirement savings. According to a release from the Australian Securities & Investments Commission (ASIC), “Investigations have… Read More

Australian Senate Creates Standing Committee on Fintech & Regtech

Last week on September 11, the Australian Senate decided to establish a “Select Committee on Financial Technology and Regulatory Technology” or a committee to research and follow Fintech and Regtech. According to the Australian Parliament, the committee will inquire and report on the following matters:… Read More

Australian Neobank Xinja Bank Receives License & Launches Bank Accounts

Xinja Bank, an Australia-based neobank, announced on Monday it has received its full banking license from the Australian Prudential Regulation Authority (APRA) and has launched its bank accounts.  Founded in 2017, Xinja Bank describes itself as an independent 100% digital neobank for Australians that is… Read More

Australia Report Shows How Banks Gouge, and Fintechs May Provide a Better Service, When it Comes to International Money Transfers

Australia is a smaller market by population but it is also a country that has embraced Fintech innovation. The emerging Fintech sector is assisted by a supportive government that has recognized its important role in fostering change that is beneficial to both consumers and business…. Read More

Lord Mayor of London Takes Delegation to Australia to Boost Financial Sector Links Including Fintech

The Lord Mayor of London is visiting Australia with a business delegation seeking to boost links to financial services including the Fintech sector. According to a government release, Lord Mayor Peter Estlin will visit Perth, Melbourne, Canberra, and Sydney. Alongside meetings with government officials, the… Read More

Paul Niederer Joins KoreConX Team in Australia

Paul Niederer, the former CEO of Australian Small Scale Offerings Board (ASSOB) – one of the first securities crowdfunding platforms in the world, has joined KoreConX to lead the expansion of the platform in Australia. Niederer is well known in Fintech circles for his experience… Read More

InstaReM Recognized by Australian Competition & Consumer Commission for Cost Effective Money Transfers

InstaReM is out with a note regarding a report published by the Australian Competition & Consumer Commission (ACCC) on cross border payments/money transfers. Ther ACCC report notes that while most consumers continue to use the big four banks in Australia to move their money, Instarem… Read More

Australian Jailed in Colorado for Laundering Money Using Bitcoin

An Australian living in Boulder, Colorado has been sentenced to one year and a day in prison and 12 months probation for laundering money using Bitcoins. Emilio Testa, age 32, was arrested after selling bitcoins to undercover agents. “According to the stipulated facts contained in… Read More

Intersekt – Melbourne, Australia

The Annual Fintech Industry Conference key themes include: Growth Pathways What is on the horizon for Fintech? Best in class/world-class Fintech/industry collaboration Responsibilities of Fintech in the community Now in its 4th year, the annual Fintech Industry Conference – Intersekt, is the leading and most… Read More

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