FinTech Voice April 7, 2022

Thank you to all who applied for the Finnies awards this year. It was a mad dash to the finish line but we’re glad you made it! The first round of judging has begun and the finalists will be announced on 3 May 2022. We can’t wait to celebrate this in person after two seasons of virtual awards.

We’re excited for our first roadshow in Adelaide today at 5:30 PM AEST. Join us to learn about FinTech Australia’s plans for the year and connect with other fintechs and partners. The second one is scheduled for April 27th in Sydney. Limited seats for these events so please register soon.

We are currently working on the Submission for CDR Sectoral Assessment (Open Finance sector – Non-Bank Lending) and we will be seeking feedback from our members.

Policy consultations are ramping up and we will be working with all relevant stakeholders for drafting these submissions. The key consultations include the Digital economy regulation settings, the Crypto asset secondary service providers: Licensing and custody requirements and the Statutory Review of the Consumer Data Right. More details about each are mentioned in the advocacy section.

Interested to know more about UAE fintech marketJoin us with Austrade as we present a webinar for Australian companies looking at opportunities in the Middle East market.

Finally, we welcome our newest member this fortnight – FUNDABL and CRYPTOTAXCALCULATOR

Regards,

Andrew Porter,
CEO,
FinTech Australia

CDR Sectoral Assessment (Open Finance sector – Non-Bank Lending)

Public consultation commenced on 15 March to inform the sectoral assessment for applying the Consumer Data Right to non-bank lending. Sectoral assessments are conducted with reference to the criteria set out in section 56AD the Competition and Consumer Act 2010.

We are drafting a submission to inform the sectoral assessment for applying the Consumer Data Right to non-bank lending. Responses to this consultation will inform Treasury’s final report, which the Minister will consider when deciding whether to designate non-bank lending services. The last date of submission is 12 April 2022 but we are requesting for an extension.

Statutory Review of the Consumer Data Right: Issues paper

The paper released on 16 March seeks written feedback on whether the CDR framework is fit-for-purpose to provide benefits for consumers, increase competition, and drive innovation and will inform the Review. It sets out the purpose, Terms of Reference, and context for the review, relevant background on the development of CDR policy and legislation over time, and specific consultation questions. The issues paper can be found here.

Andrew is also meeting with Treasury to share member views on this review. If you would like to share any feedback immediately before we email for written feedback, please reach out.

We are currently seeking member feedback for this review.

Australia’s digital economy regulation settings

The Morrison Government has opened consultation on digital economy regulation settings to position Australia as a leading digital economy and society.

The issues paper sets out some of the opportunities presented by these technologies, and seeks feedback on regulatory issues that may impact innovative businesses, the community and government.

The issues paper is available here.

Consultation closes on 22 April 2022 and submissions are to be made here.

Crypto asset secondary service providers via Digital Services Act

On 8 December 2021, the Government agreed in‑principle to recommendations made by the Senate Select Committee on Australia as a Financial and Technology Centre in respect of consulting on a licensing and custody regime for crypto asset secondary service providers.

The government is now seeking feedback on the proposals and options outlined in this consultation paper to support minimum standards of conduct by crypto asset secondary service providers and safeguards for consumers.

This consultation closes on 27 May 2022. We will reach out to our members for inputs.

The Taxation Board have also released their terms of reference for their Review of the Tax Treatment of Digital Assets and Transactions in Australia.

📱 Visa brings an opportunity to engage and learn from a community of passionate and purpose-driven creators with their Visa Creator Program. For all digital-first creators and artists in Asia Pacific who are serious about incorporating NFTs into their business. Learn more about the program here

🇬🇧 The UK Government, in conjunction with Australian and New Zealand national and state government partners, are hosting London Tech Week (LTW) in-person this year in London from 12 – 17 June 2022 – to collaborate and discuss the vital role of technology in society. Visit here to learn more and register. Applications close on 19 April 2022

💹 Stand with Ukraine by working with some of their best design and dev teams on your upcoming projects. In a situation that feels bigger than all of us this is an opportunity to support other professionals and their families, where in some cases they may be forced to live on a single income. Visit here to know more.

🤝🏻 Trevipay is hosting a webinar – Scaling the Summit: The Future of B2B Payments. Some industry leaders will share how companies can get ready today for the future of B2B payments and the massive opportunities it presents from analysis of his latest research – 12 April 2022. Register for the event here

🧾 Join Accounting Business Expo: 1000s of accounting and finance professionals will unite at the ICC in Sydney to learn how new digital accounting technologies will boost their efficiency, effectiveness and profitability – 28 – 29 April. Register here

💰 FinTech’s biggest conversation, Money20/20 Europe is back to Amsterdam this 7 – 9 June 2022 – place where the fintech community loves to do business and this year it’s bigger, sharper and giving unparalleled show experiences. Visit here to know more and register. Discount code – FIN200

📈 The 5th annual edition of The RegTech Association’s #ACCELERATERegTech2022 is here. An entirely virtual event with Global Growth Corridor theme will have a clear thread of ESG throughout the topics and discussions – 5 – 7 April 2022. Check out for more here

🤝🏻 FinTech Australia and Austrade are pleased to present a webinar looking at UAE Fintech Opportunities. Tune into the webinar targeting Australian companies interested in the Middle East market. Visit here for more info

Don’t miss all the news and insights from our members and corporate partners from our newsroom.

  • Dacxi observed a huge increase in uptake for its tokenised assets from SMSF customers
  • GPS recently announced new partnership with Mastercard
  • Trade Ledger released its Annual Business Finance Predictions 2022 report
  • Raiz Invest released a case Study on Micro-investing with Envestnet | Yodlee
  • Nodifi recently unveiled Alex Brgudac as new Chief Revenue Officer
  • NAB Ventures Invested in Payment and Data Enterprise Solutions Company DataMesh Group
  • Spenda released a report on investment in smart technology – following the announcement during 2022-23 Federal Budget.
  • Change Financial announced its partnership with Mastercard
  • CreditorWatch appoints Anneke Thompson as Chief Economist (consultant)
  • Till Payments announced Executive Leadership promotions
  • Cape raises $33.1m to simplify spending control systems & eliminate expense reports
  • Yondr Money launched in February and is set to raise up to $1.5 million to fund its expansion as an alternative to mainstream banks
  • Sandstone Technology partners with Brilliance Financial Technology to offer in-built pricing and profitability to the SME Market
  • Frollo conducted a report that shows that the number of fast and reliable Data Holders has significantly increased in Q1 of 2022
  • Probe released a case study on Robotic Processing Automation set to Deliver Significant Savings

49% of banks provide Open Banking transactions in under a second

Though new research shows not all banks provide complete data.

An analysis by Frollo, the leading provider for Open Banking in Australia, shows that the number of fast and reliable Data Holders has significantly increased in Q1 of 2022. Almost half (22 out of 45) of the Data Holders provided Open Banking transaction data in less than 1 second on average, up from 16 Data Holders in 2021. 

Reliability – the percentage of successful API calls – was also up, with 40% of banks scoring 99% or more, up from 22% of banks in 2021.

Data completeness in Open Banking

Open Banking has the potential to offer a rich and deep dataset to build innovative and personalised experiences. Though, to build those experiences it’s important a business can count on the data being available, regardless of which Data Holder the customer connects to.

Unfortunately information about what data is actually being provided, hasn’t been easily accessible – until now. 

In an ongoing effort to help build and improve  the CDR ecosystem, Frollo has performed an initial analysis into Open Banking API payloads and properties, as part of its Open Banking API performance reporting.

This initial analysis compares API payloads for transaction accounts by 11 popular Data Holders, to see how many of 26 selected properties they provide. It only includes quantitative data; quality will be assessed in a future analysis. 

The 26 properties form a set that enables a typical personal finance management use case with expense categorisation, spend insights, bill tracking and product comparison. 

The following properties were included:

  • Account information: Account id, creation date, display name, nickname, open status, is owned, masked number, product category, product name, bsb, account number and features
  • Transaction information: Transaction id, type, status, description, posting date & time, value date & time, amount, reference, merchant name, merchant category code, biller code, biller name, crn and APCA number

For each Data Holder a large number of transactions related to their transaction accounts were reviewed to determine which of the properties in the set are provided by the Data Holder for transactions where this would be expected. Although this analysis has a purely quantitative focus, following analyses will include qualitative elements as well.

Overall results

15 out of the 26 selected properties are provided by all of the Data Holders in this analysis. The properties that are most often missing are APCA number (provided by 27% of Data Holders), merchant name (64%), account nickname (55%) and product features (64%). Properties related to billers are provided by less than 3 out of 4 Data Holders. Biller code and biller name are both provided by 73%.

Results by Data Holder

Out of the Data Holders included in this analysis, St. George Bank provides most of the data (96%), while NAB (69%) and UBank (73%) trail behind. 6 out of the 11 Data Holders provide more than 90% of all selected properties for a typical pfm use case.


About Frollo

Frollo is a purpose driven fintech and Australia’s leading Open Banking intermediary. We help businesses use Open Banking data to deliver better customer outcomes. From reducing debt and increasing savings, to providing a better, more personalised customer experience.

Our modular, end-to-end Open Banking platform enables businesses to bring Open Banking powered use cases to market quickly by leveraging Australia’s most advanced and reliable CDR Gateway, with plug & play access to lending, personal finance management and customer onboarding solutions..

Trusted by clients like Beyond Bank, Volt, AFG, P&N Bank and BCU, Frollo is an Australian market leader in Open Banking.


Assets

Graphs and images: https://frollo.com.au/blog/half-of-data-holders-sub-1-second/ 


For media enquiries

Piet van den Boer

Frollo

0468 375783

piet@frollo.us 

Sandstone Technology partners with Brilliance Financial Technology to offer in-built pricing and profitability to the SME Market

Sandstone Technology bring risk-based pricing into their arsenal for SME lending.

With the pandemic driving more entrepreneurs into the market as people look for more flexible working opportunities, we are seeing an uplift in Micro SME and SME businesses across the globe. With many retail banking customers owning and operating small businesses, people’s personal and business banking needs are becoming more interlinked.

By further extending their Loan Origination System’s (LendFast) capabilities, Sandstone Technology identified a need to incorporate risk-based pricing into the systems workflow and decisioning engine. The Brilliance Financial Technology partnership, through their DPX deal, pricing and profitability optimisation solution, provides Sandstone with the ability to optimise a bank’s pricing and profitability outcome, helping to streamline the loan application experience. By having automated deal pricing and profitability optimisation functionality embedded in the origination flow, every deal is made with eyes wide open, consistently and efficiently.

In Australia and New Zealand SME lenders generally focus on digitising the CRM and origination journey but try to manage pricing and profitability in spreadsheet-based models disrupting the RM and broker journey and assessing deal and relationship profitability in the rear-view mirror. Many SME lenders cling to legacy processes that are potentially slowing them down. Having a digitised, consistent process and procedure can help build and maintain customer relationships, enhance proactive and reactive retention measures, and reduce ‘special pricing’ offered inconsistently and without justification on the front and back book.

Mic Phillipou, Sandstone Technology’s CEO, said, “the Brilliance and Sandstone partnership will ensure banks and financial institutions can be confident in the deals being executed by their relationship managers, knowing that risk-based pricing has been applied to the deal in real-time. With interest rate increases expected to impact both lenders and borrowers alike, we understand that real-time data driven decision making will be crucial to financial institutions’ success.”

Jean-Edouard van Praet, CEO and President of Brilliance Financial Technology said he was pleased to be working with Sandstone Technology to enhance the digital experience for their SME banking clients.

“We have been working with some of the largest financial institutions in the world over the last 15 plus years optimising not only the deal at hand but the overall relationship profitability. Digital technology and this partnership with Sandstone means that SME and business banks can access this critical piece of the origination jigsaw puzzle and stay competitive in an increasingly competitive market” suggests van Praet.

Sandstone’s investment in SME capability comes off the back of their strength in origination and lending within the highly regulated and competitive consumer lending market within Australia and New Zealand.


The full article can be found here:  https://bit.ly/3LHq3at


About Brilliance

Brilliance Financial Technology has delivered digital pricing and profitability solutions to banks in 50 countries, servicing over 25,000 relationship managers. DPX, is their 4th generation cloud-native platform, which uniquely combines pricing, rates and profitability management to help banks thrive in today’s dynamic market conditions. DPX improves bank’s profits, ensures bank’s regulatory compliance and delivers pricing transparency across the organisation. For more information, visit www.bxfin.com


Contact: Kevin Delmar | Global Head of Product Distribution, kevin.d@bxfin.com


About Sandstone Technology

For more than 25 years Sandstone Technology has been innovating and evolving financial solutions for some of Australia and the world’s largest banks and financial institutions. From digital banking and digital onboarding to loan origination and AI-based data analysis, our scalable, robust, end-to-end solutions using a multi-channel approach helps our customers get to market faster.

Fintech, Financial advisor in your pocket backed by ex-ANZ CEO

Rising Australian fintech Yondr Money launched in February and is set to raise up to $1.5 million to fund its expansion as an alternative to mainstream banks.

Only 64 per cent of Australians are considered financially literate. That means approximately nine million people have no idea where their money is going, making it challenging to keep on track with their financial goals.

Melbourne-based fintech, Yondr Money, is drilling down into the spending habits of consumers, and building savings tools teaching them ways to save for their goals while helping them better understand where their money goes.

After witnessing many friends and family financially struggling to get into the housing market, founder of Yondr, Shane Chanel, set out to help more people take control of their money.

“Research tells us 70 per cent of Australians have no automatic savings in place to help them achieve their financial dreams,” says Chanel.

“Yondr is focused on giving its customers more control of their finances and providing various tools that can be easily integrated into their daily lives, helping them to achieve their goals – such as going on a well needed holiday or becoming homeowners.”

The up-and-coming Fintech is backed by former CEO at ANZ Bank, Mike Smith, who sits on the advisory board at Yondr Money.

“Yondr represents the future in an economic landscape that craves low-cost, efficient, and safer banking experiences,” says Smith.

Using Artificial Intelligence (AI) and other machine learning processes, Yondr Money has rolled out their beta smart money app that improves financial intelligence and outcomes for consumers.

A customer-first alternative to big banks, the fintech platform aims to help more Australians become financially savvy by equipping them with the tools to monitor, track and set limits on where they’re spending their money – wherever in the world they are.

Yondr Money’s initial offering also includes – a multi-currency account attached with the option of a physical and virtual VISA cards, accessible through an intelligent mobile app– is aimed at reducing the cost of travel for the approximate 10 million Australians who travel every year (pre-pandemic).

While travelling internationally, Chanel was shocked to see the disparity between the financial services offered overseas compared to Australia.

“Australia is years behind other countries when it comes to accessing high quality money services. In the UK alone there are over 38 Neobanks, providing innovative, low cost and customer-first banking solutions at people’s fingertips,” says Chanel.

“With only one in four Australians having heard of Neobanks, we have a lot to do in creating awareness that there are better and more efficient alternatives to the way we spend and manage our money.”

According to Chanel, Yondr Money has received encouraging support and commitment from an initial round of capital raising among angel investors.

“We are currently raising via a crowdfunding raise. Given the high level of support we’re getting, we may do another round of capital raising as we ramp up our products and distribution channels,” Chanel said.


About Yondr Money

Yondr Money is a technology-driven fintech company based in Australia that offers an intelligent and streamlined, customer-first alternative to mainstream banks. Yondr was created to address some of the banking industry’s most pressing issues and to tip the balance back towards the customer.

Visit linktr.ee/yondr.money for more info.

Expense Management startup Cape raises $33.1m to simplify spending control systems & eliminate expense reports

Meet Cape, a new Australian startup that offers an Expense Management platform issuing corporate charge cards, primarily focused on helping their business customers spend smarter and save time as opposed to generating a quick buck from them. 

Cape announced a $33.1m raise today, with funding from Aura Ventures, Investible, Scalare Partners, Mercury Capital and 15 business angels, including Stripe’s APAC Head of Startup practice, the founder of legaltech platform LegalVision & a handful of early Atlassian employees.  

Expense management is a famously frustrating area of technology with broken processes that see employees continuously having to carry the burden of footing the bill for company purchases made on their personal card, usually because getting it through the corporate provided system is too much hassle. 

Many companies have disparate software vendors for expenses and corporate card solutions such as Expensify and American Express. 

If they manage to use systems, it will typically see them submitting expense reports at the end of each month, with the invoice attached, then reconciling this in their accounting software. Each step of this process ends up being time-consuming and costly for an organisation and fraught with errors. 

Founder Ryan Edwards-Pritchard’s built Cape with the mission to help businesses unlock expense nirvana by saving time on financial administration work and cutting money associated with wasteful spending by creating a smoother system for employees and employers to operate with a single streamlined workflow on a unified platform. Ultimately Cape aims to close the loop between spend and expense management by providing both as an all-in-one spend management platform. 

Cape aims to provide a centralized node for internal expense controls, rooting out duplicate and unnecessary expenses to help companies lower their total expenses with corporate cards wrapped in software that helps companies track and control all spending. Businesses are able to set different limits for different individuals and teams, as well as centralizing all of their receipts, attaching them to each expense with integrations into Cloud Accounting Software providers. 

Unlike some competitors however, the startup will provide their customers with cashback on all their purchases, whether that be a client coffee, Uber ride or monthly subscription cost, without an over-engineered points or rewards system. 

Cape customers get access to a charge card with credit limits up to $100k depending on creditworthiness. Cape leverages the latest in CDR (Open banking) technology to understand their customers financial position and any subsequent changes to ensure they’re offering an appropriate line of credit.  

Being one of the first in this geography with their model, Cape is focused on building a powerful software suite around their products, enticing customers in with digital tools built around spend itself, helping companies manage and limit their cash outflows. 

Cape, like many of its peers in North America (Brex & Ramp) and Europe (Pleo & Payhawk), makes money by collecting a small slice of customer spend as revenue via interchange income. With $66 billion in B2B spending in Australia alone, there is plenty of market for the startup to grow into.

Unlike these territories, interchange in Australia is one of the lowest globally. Which meant thinking up an entirely different model. This first involved Cape becoming a Principal Member to Mastercard to control their costs by retaining all of the interchange and to offer a route to internationalise their operations across the APAC region. It then saw Cape taking a different approach to their peers, allowing their customers to issue unlimited virtual cards to their employees, with no transaction fees or interest charged on the credit facility. Instead they chose to charge for their expense and spend management software, making it more like a traditional SaaS company with tiered pricing.

Daniel Veytsblit, Investment Director at Investible, says he has seen very little innovation in this space and that’s what drew him to the company. “Cape has taken a bold step forward to create an entirely new paradigm. It delivers a tangible solution to the biggest problems finance teams face as their companies grow,” Veysblit said in a statement. 

The 18 person team founded 17 months ago is based in Sydney and remotely across 3 continents. They are planning to use the funds to invest in technology with building an expansive suite of products to cover the entirety of corporate spend by doubling their headcount in the coming months, with the vast majority of capital going into hiring Engineers and Product specialists. Recent recruits include its new Sydney based CPMO Andrew Fanner who previously led the Product and Marketing functions for U.K. based Cashplus which boasts 350k SME customers and a new London-based CTO in Julian Guppy, who previously co-founded U.K. ID&V platform Onbord and was the CTO of Business Credit Card platform Capital On Tap, Guppy has been consulting with Cape for some time and was involved with the recent replatform of the startup from Angular to React.


About Cape 

Cape is building the APAC’s first finance automation platform that issues virtual corporate cards designed to help companies strengthen their cash flow. Cape provides businesses with full visibility and control on purchasing to cut wasteful spending and the time taken on financial administration work relating to expense management.

Till Payments announces Executive Leadership promotions

Tanya Green, Head of Brand & CX promoted to Chief Customer Officer and Alison Long, Head of People & Talent, promoted to Chief People Officer.

Global Fintech disruptor, Till Payments (Till) has today announced the promotions of Tanya Green and Alison Long into newly created roles within its Executive Leadership Team. Green will step into the role of Chief Customer Officer, while Long will take on the position of Chief People Officer. Both promotions are effective from the 1st of April, 2022.

As CCO, Green will now be responsible for aligning and unifying internal teams around the customer and leading Till’s global brand as it launches into new markets. Meanwhile, in her new role as Chief People Officer, Long will be spearheading the paytech’s global growth journey, ensuring it retains its culture-first and people-first approach to employee experience.

“Since joining Till, both Tanya and Ali have demonstrated exceptional talent, leadership and global business acumen. They have led the company through some of the most challenging and colossal projects, with an unparalleled dedication that has led to success after success,” said Mr Haddad.

“I’m proud and honoured to be announcing their well-deserved promotions and have absolute faith in their vision for our future and their ability to execute for the business as we scale.” Mr Haddad continued.

“One of our organisational values is ‘Focus on the customer and the rest will follow’ and this has rung true to me since the moment I joined the business. As we scale globally and look to the future, my role will be laser-focused on ensuring our customer-centred promise never falters, regardless of where they are in the customer lifecycle. Our vision is to deliver an unrivalled payment experience to merchants and partners. And while our bold brand and bespoke CX initiatives will push boundaries, we’ll always have the customer at the centre of our decision-making. I’m thrilled to be leading the charge for our customers in this journey.” Ms Green said.

Ms Green joined Till Payments in March 2021 as its Head of Brand & Customer Experience. Since her appointment, she has overseen the development and rollout of the fintech’s new, global brand strategy – including its visual and verbal identity – playing a leading role in the fintech’s continued drive to increase its brand awareness worldwide. Across her career, Green has amassed over 13 years of experience within some of the world’s leading branding, advertising and creative agencies and ASX 100 businesses.

“The driving force behind my career to date has always been about delivering an incredible people experience, so the opportunity to join an executive leadership team just as dedicated to its people as I am has been a dream come true. I’m excited to step into this new role of Chief People Officer and lead the next phase of our hyper-growth while we build and deliver our global employee value proposition.” Ms Long said.

Ms Long joined Till Payments in February 2021, quickly advancing to the position of Head of People & Talent. She has a background in talent acquisition within leading Fortune 500 multinational companies and ASX 100 businesses and has been the driving force behind the rapid and successful growth of the Till Payments team to date.

Till Payments and its founders recognise the importance of supporting women in leadership roles, and these appointments mark the addition of two females into its Executive Leadership team. The payments fintech recently launched a gender equality campaign, Breaking the Bias with Till’, reinforcing its commitment to taking action to improve standards for women in the workplace.

It follows the company’s announcement of its first Chief Product Officer, Dave Hemmingway, in January, who joined the fintech after a nine-year tenure at PayTech player, Indue.


About Till Payments 

Till is the fast-moving, Aussie-born, global fintech disruptor opening up a world of possibilities for businesses seeking simple, seamless, all-in-one payments. We take the complexity out of getting paid with single-source solutions that ensure merchants can accept any payment wherever and whenever their customers shop, be it online, in-store, or a combination of both.

Organisations across a range of sectors, including FMCG, automotive, parking & transit, retail and hospitality, use our end-to-end smart and seamless payments experiences to support growth and enhance customer experiences.

Founded in 2012, Till’s team of over 300 staff is rapidly growing and headquartered in Australia, with teams in London, Europe and across North America. Till currently serves hundreds of merchants across 12 countries and over 500 cities.


Media Contact

Tasha Nabila
Till Payments
+61 3 7064 7113
Tasha.nabila@tillpayments.com.au

Applications now open for London Tech Week Australia & New Zealand Trade Mission 2022

The UK Government, in conjunction with Australian and New Zealand national and state government partners, are thrilled to announce that London Tech Week (LTW) is back, in person, in London from 12 to 17 June 2022! Aussie and Kiwi tech scaleups will have the opportunity to join the first physical trade mission to LTW since 2019.

Applications to be a delegate on our trade mission are now open. Don’t miss this exciting opportunity to participate in a curated programme of tailored events, networking opportunities and site visits across London during London Tech Week. Apply now.

London Tech Week (LTW) is Europe’s largest technology festival gathering the world’s most inspirational founders, global leaders, senior investors and rising stars to collaborate and discuss the vital role of technology in society.

In 2020 and 2021 we saw an incredible 20,000+ attendees from across the globe for virtual LTW programmes, featuring 750+ leading speakers and innovators.

This year’s trade mission has been designed for Aussie and Kiwi scaleups in the following tech sectors who are considering expansion to the UK:

  • Future Technology – including artificial intelligence, big data and cyber security.
  • Educational Technology
  • Digital Health – including medtech and medical devices.
  • Financial Technology

Trade mission highlights:

  • Pre-mission briefing in May 2022 to network with other tech delegates in the lead-up to our travel to the UK
  • Access to a week-long programme of events from Sunday 12 June through to Friday 17 June
  • Hear from Trade Commissioners, Ministers and leaders from the tech ecosystem as they showcase UK opportunities
  • Attend roundtables, site visits, networking receptions and information sessions, including information on capital raising, brand building and accessing the UK market
  • Work with the UK Government to leverage support services and fast-track plans for a UK market entrance

There is no charge to join our ANZ programme or London Tech Week, but flights and accommodation are not included. Applicants will go through a competitive selection process based on readiness for UK expansion.

Open to Australian and New Zealand companies only. Victorian companies have been invited to apply via Global Victoria which is now closed.

Applications close on Tuesday 19 April 2022.

Good luck with your application!


Louise Cantillon
British Consul-General & Deputy Trade Commissioner APAC (Australia & New Zealand)
UK’s Department for International Trade

APPLY NOW

CreditorWatch appoints Anneke Thompson as Chief Economist (consultant)

CreditorWatch is very pleased to announce that economic consultant Anneke Thompson has joined the CreditorWatch marketing team as the Chief Economist.

Anneke Thompson is the founder and Managing Director of Clio Research. She has been providing research and consulting services to both domestic and offshore clients for more than 15 years. She has built strong relationships with market experts and works collaboratively with them when modelling her research to provide a holistic view of the Australian economy.

With more than 15 years of experience servicing local and international clients in property agency research and finance, Anneke previously held roles at Colliers International Australia National Director Head of Research. Prior to this, she was an Analyst at NAB, and also part of the consulting team at JLL.

Anneke’s experience is the perfect fit for CreditorWatch, where in her new role she will provide her thoughts, commentary and analysis for company whitepapers, reports, the monthly Business Risk Index, keynote speaking engagements, and ongoing media opportunities.

The team at CreditorWatch looks forward to utilising Anneke’s wealth of knowledge and expertise as an industry leader, reinforcing CreditorWatch’s position as a trusted barometer of economic health.

Visa launches program to help creators navigate NFTs

One-year immersion program will bring together a global cohort of creators interested in building their business with NFTs

Right now, some 50 million artists, musicians and creators of all stripes publish content as a full- or part-time source of income1. With an estimated market size of more than $100 billion2, the creator economy is one of the fastest-growing categories of small business3.

To support this growth, today, we’re launching the Visa Creator Program, an initiative that aims to help digital-first artists, musicians, fashion designers, and filmmakers accelerate their small business through non-fungible tokens (NFTs). Each cycle of the program will support a selected group of entrepreneurs looking to deepen their understanding of the technology and platforms underpinning NFT commerce.

Growing a business with NFTs

Because NFTs can establish ownership and authenticity of digital goods and media, like images, videos, and music, they can help creators generate revenue and grow their business.

“NFTs have the potential to become a powerful accelerator for the creator economy,” said Cuy Sheffield, head of crypto, Visa. “We’ve been studying the NFT ecosystem and its potential impacts on the future of commerce, retail and social media. Through the Visa Creator Program, we want to help this new breed of small and micro businesses tap into new mediums for digital commerce.”

Community, mentorship and access for emerging artists

The Visa Creator Program is geared towards entrepreneurs working in art, music, fashion and film who are serious about incorporating NFTs into their business model, whether they’ve just minted their first NFT or have several successful drops under their belt.

“In the early days of my NFT career, I relied on a community of NFT experts and advocates to ground me in this new world,” says Micah Johnson, former professional athlete, the artist behind Aku, and one of the first participants to work with the Visa Creator Program. “I’m excited to work with Visa in providing that same type of mentorship to emerging artists setting out on their NFT journey.”

Selected creators will join a cohort-driven program designed to build and deepen their fluency in crypto commerce and traditional payments. The program is focused on supporting creators in five key area:

  • Technical and product mentorship: Mentorship with Visa’s team of crypto product and strategy leaders, to cover topics including: evaluating tradeoffs between underlying blockchain networks, smart contracts, and NFT marketplaces.
  • Community building: The opportunity to exchange ideas and problem-solve with a community of creators in various stages of their NFT journey.
  • Access to thought leaders: Hear from leading edge thinkers and researchers working across digital commerce, web3, crypto and payments.
  • Exposure to Visa’s clients and partners: Opportunities to engage with companies across Visa’s network of clients and partners.
  • Stipend: One-time stipend to help creators kick-start the next phase of growth.

Supporting new forms of small business

The Visa Creator Program is part of Visa’s ongoing efforts to help small and micro businesses gain greater access to the digital economy. Through community-based initiatives like the Visa Creator Program and She’s Next, Visa is focused on digitally enabling small and micro businesses through opportunities to access funding, resources and expertise.

As the concept of ‘small business’ continues to expand and evolve, from mom-and-pop storefronts to content creators and gig economy workers, Visa is excited to support the next generation of entrepreneurs in scaling a business and getting paid.


To learn more about the Visa Creator Program and how to get involved, visit the Visa Creator Program.

Five Fintechs On Friday April 1, 2022

The new edition of the five fintechs on Friday is here!

Block your calendar for the upcoming events!

FinTech Australia and Amazon Web Services (AWS) are bringing together leaders from rapidly-growing fintech organisations to discuss scaling startups. Attend the panel held in-person in Melbourne, VIC on 5th April 2022 – 3:30 PM AEST. Limited spots available, book today!

We’re also hosting our first roadshow to share FinTech Australia’s agenda and goals, and connect with members and partners. Join us for our first in Adelaide on 7th April 2022 – 5:30 PM AEST, following the second meetup on 27th April in Sydney. Limited seats for the events. Register today.

In association with Austrade, we are pleased to invite you for a webinar on UAE fintech market and opportunities. The discussion will focus on Middle East market regulations, trends and opportunities. Visit here for more info and registration.

Below are five fintechs to know about this fortnight!

 

Driva

Driva is an online platform that helps Australians navigate car-buying. Financing a car should be easy, but it’s often not. Whether you’re in a dealership being passed from salesperson-to-salesperson with only one lender option available or going to multiple lenders directly to find out your rate (hurting your credit score), it’s extremely difficult for consumers to shop around with confidence. That’s where Driva comes in. In a few simple steps, the platform provides customers with personalised quotes from multiple lenders, with full transparency over costs and the confidence that they will be approved. Driva aims to make the car buying process fast, simple and fair – putting Australians back in the Driva’s seat.

 

Open

The trigger for most people to get insurance is the purchase of a new car, home or going on the trip of a lifetime. But it can be hard to find, annoying to buy and expensive. At Open, they’re on a mission to create the fastest insurance, at the best price, for the world. Their promise to customers is powerful, simple insurance through white-label and embedded car, home and travel products. You might know their consumer brand, Huddle, and partners such as Telstra, Plenti, ahm and Polestar.
Open takes care of the entire insurance experience from quote to claim, with a digital experience made brilliant through innovations like instant claims and pay-as-you-drive car insurance.

 

Frollo

Frollo is a purpose driven fintech and Australia’s leading Open Banking intermediary. They help fintech’s, banks and lenders use Open Banking data to deliver better customer outcomes. From reducing debt and increasing savings, to providing a better, more personalised customer experience. Their modular, end-to-end Open Banking platform enables businesses to bring Open Banking powered use cases to market quickly by leveraging Australia’s most advanced and reliable CDR Gateway, with plug & play access to lending, personal finance management and customer onboarding solutions. Their clients include Volt, Beyond Bank, REA Group, P&N Bank and Bank of Queensland.

 

Cache

Cache is on mission to help more people invest, by enabling companies to offer branded investment products, empowering their customers to take control of their financial futures. Cache builds, manages and operates white-label investment products and as Australia’s leading investment-as-a-service provider, is transforming the way companies of all sizes launch FinTech investment products. By eliminating traditional barriers to entry for FinTech products while ensuring they are compliant, rigorous and scalable enough, business can focus on their user growth and leave the complexity to Cache.

 

CryptoSpend

CryptoSpend is a Sydney-based, crypto fintech company specialising in crypto payments. Their mission is to make it as easy as possible for everyday Australians to buy and spend crypto. In late 2021, they became the first Australian company to partner with Visa to release a crypto payments card in Australia. Through the CryptoSpend app, users can pay their bills in crypto, cash out to their bank account, and send crypto to other users with no fees. The CryptoSpend Card allows users to spend their crypto on lunch, groceries, online shopping, etc. in Australia and overseas, anywhere Visa is accepted.

Check out our previous issues here

Upcoming Events
  1. Finnies 2022

    June 23
  2. Intersekt 2022

    September 7 - September 8
Videos

Ep 2: Fintechs Acceleration of Growth Since COVID

Ep 1: The Evolution of Payments

Scaling Product Globally

Podcasts

Lee Hatton – Afterpay: FinTech Australia Podcast

Anthony Jones – Visa AUS/NZ

Tim Cameron – TransferWise