Tagged: australia

October 30, 2017 @ 9:25 am By Samantha Hurst  |  

Marketplace lender SocietyOne announced on Monday it is set to provide positive consumer credit information to credit bureaus as part of the move to establish a fully-fledged comprehensive credit reporting (CCR) regime in the country of Australia. The online lender stated it will start sending… Read More

October 29, 2017 @ 8:42 pm By JD Alois  |  

FinTech Australia, the national association for Australia’s Fintech industry, has just released a new member ecosystem map designed to visually depict the extraordinary growth in Australia’s Fintech industry in just four months. This week Australia’s inaugural Fintech festival Intersekt kicks off so the timing is important. … Read More

October 26, 2017 @ 10:04 pm By JD Alois  |  

The Australian Securities and Investments Commission (ASIC) has added a new Fintech partnership arrangement with a deal signed with the Swiss Financial Markets Authority (FINMA). Both regulators have been impressively open to financial innovation so an agreement to cooperate on disruptive finance simply makes sense…. Read More

October 26, 2017 @ 12:00 am By JD Alois  |  

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

October 23, 2017 @ 7:50 am By JD Alois  |  

One of the four largest banks in Australia, National Australia Bank (NAB), has partnered on the upcoming Fintech hackathon taking place during Australia’s first Fintech festival – Intersekt. The hackathon expects to find new ways for businesses to benefit from improved and smarter access to… Read More

October 20, 2017 @ 12:24 am By JD Alois  |  

The Australian Government has passed legislation crafted to remove the double taxation on cryptocurrencies. Industry participants welcomed the step as indicative of the maturing Fintech policy environment in Australia. The government has sought to position itself as Fintech friendly as the pace of financial innovation… Read More

October 18, 2017 @ 11:21 pm By JD Alois  |  

The Financial Markets Authority (FMA) in New Zealand and the Australian Securities and Investments Commission (ASIC) have re-affirmed their collaboration on the expanding opportunities in Fintech innovation. The two agencies originally entered into a Memorandum of Understanding (MOU) back in 2012. Since that time, much… Read More

October 16, 2017 @ 3:55 pm By Samantha Hurst  |  

Prospa, an Australian online lender for small businesses, has formed a partnership with Gandel-backed retail marketplace MyDeal, which will allow retailers on its platform to apply for loans of up to $250,000. According to Australian Financial Review, the partnership will allow Prospa to integrate directly into the… Read More

October 10, 2017 @ 12:00 pm By Samantha Hurst  |  

Australia-based online lender SocietyOne announced on Tuesday it has secured $350 million in total originations. This news comes less than two months after the lending platform celebrated its fifth birthday. According to SocietyOne, the company topping $350 million as the current loan book also reached $200 million… Read More

October 2, 2017 @ 11:30 am By Samantha Hurst  |  

OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, announced on Monday Australia-based digital banking platform Change Financial Ltd. (ASX: CCA) has qualified to trade on the OTCQX Best Market. Change Financial upgraded to OTCQX from OTC’s Pink market. Jason… Read More

September 29, 2017 @ 1:01 pm By JD Alois  |  

Earlier this week, the Australian Securities and Investment Commission (ASIC) came out with a statement on the emerging Initial Coin Offering (ICO) market that clarified its perspective on tokenized crowdfunding offers. Australia is a country that has been very aggressive in establishing itself as a… Read More

September 28, 2017 @ 9:28 am By JD Alois  |  

The investment crowdfunding market is changing in Australia and it is changing for the better. While it has taken policymakers a bit of time to update existing rules, new regulations commence on September 29th ushering a new era of raising capital online. Labeled “crowd-sourced funding”… Read More

September 27, 2017 @ 9:32 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has just published their spin on the burgeoning Initial Coin Offering (ICO) market. John Price, ASIC Commissioner, stated; “We want to ensure innovative firms understand the regulatory framework they may be operating under and ensure they meet any… Read More

September 22, 2017 @ 10:22 am By Samantha Hurst  |  

Fintech Australia announced its upcoming Intersekt Fintech Festival is set to be a world-first gender equality target and is part of an ongoing campaign to drive increased levels of email participation in the country’s startup sector. The festival is set to be held in Melbourne from… Read More

September 21, 2017 @ 8:54 am By JD Alois  |  

China is the biggest kid on the block when it comes to the emerging alternative finance market in the Asia Pacific region. In fact, China has the largest alternative finance market in the world driven by a fast growing economy, a highly connected population via… Read More

September 20, 2017 @ 9:27 pm By JD Alois  |  

The Australian Securities and Investments Commission (ASIC) has just released guidance for public companies and crowdfunding platform operators to support them in using the new “crowd-sourced funding (CSF)” regime. The updated rules kick off on 29 September 2017. While rules only apply to public companies,… Read More

September 14, 2017 @ 5:29 pm By JD Alois  |  

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

September 11, 2017 @ 11:17 am By JD Alois  |  

PledgeMe, a New Zealand based crowdfunding platform, has announced an expansion into Australia just as equity crowdfunding regulations are scheduled to change. Australia has been slow to improve their regulatory environment for raising capital online but improved rules will be in place soon. “Australia is… Read More

September 10, 2017 @ 9:04 pm By JD Alois  |  

FinTech Australia is sharing that two of their members have been selected to participate in the Swift global FinTech challenge at LATTICE80 on 13 and 14 September 2017. This past June, SWIFT offered Fintech companies from around the world to develop new overlay services that leverage… Read More

September 9, 2017 @ 9:25 am By Samantha Hurst  |  

Earlier this week, Fintech Australia announced the Aussie country has enjoyed a spike in fintech investment during the second quarter of 2017. The organization shared the latest information from KPMG’s Pulse in Fintech report, which was released last month. According to the report, Australian fintech… Read More