Tagged: scott morrison

ASX Will Migrate to Blockchain to Replace 20+ Year Old Trading System

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

Treasurer of Australia Scott Morrison Visits Online Lender Prospa’s New Office in Darlinghurst

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 Welcomes Aussie Government Stance on Positive Credit Reporting

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

Australia Introduces Legislation Designed to Boost Fintech

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

Australia to Fix Gap in Crowdfunding Regulations as Private Companies May Gain Eligibility in New Legislation

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

FinTech Australia Says Australia is Ahead of Other Advanced Markets Like US & Singapore in Fintech Adoption

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

Treasurer of Australia Scott Morrison: “We must ensure that our policies and actions harness and realise the full potential of Fintech —by removing barriers to these innovations”

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

Australian Treasurer Promotes the Benefits of Fintech & Regtech

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

Three Chinese Fintech Firms Incubate in Australia as Part of Fintech Asia Program

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

Australian Government Embraces Fintech, Seeks to “Prepare for the Financial System and Economy of the Future” (Document)

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