Japan and Australia cooperate on fintech

The Japan Financial Services Agency (‘JFSA’) and Australian Securities and Investments Commission (‘ASIC’) today announced the completion of a framework for co-operation to promote innovation in financial services in Japan and Australia. This Co-operation Framework recognises the global nature of innovation in financial services. In this environment, this Framework enables the JFSA and ASIC to … Continue reading “Japan and Australia cooperate on fintech”

Fintech: Capturing the Benefits, Avoiding the Risks

The IMF have published a paper on Fintech.  From artificial intelligence to cryptography, rapid advances in digital technology are transforming the financial services landscape, creating opportunities and challenges for consumers, service providers, and regulators alike. This paper reviews developments in this new wave of technological innovations, often called “fintech,” and assesses their impact on an … Continue reading “Fintech: Capturing the Benefits, Avoiding the Risks”

Fintech Disruption of SME Continues

The latest edition of the Disruption Index which tracks change in the small business lending sector, and more generally, across financial services has been released. The latest score is 38.39% The Financial Services Disruption Index has been jointly developed by Moula, the lender to the small business sector; and research and consulting firm Digital Finance … Continue reading “Fintech Disruption of SME Continues”

Hong Kong and Australia seal agreement on fintech cooperation

The Hong Kong Securities and Futures Commission (‘the SFC’) and ASIC today signed a Co-operation Agreement which provides a framework for cooperation to support and understand financial innovation in each economy. This Cooperation Agreement builds on the already close ties between ASIC and the SFC, as well as the Australia-Hong Kong trade and investment relationship … Continue reading “Hong Kong and Australia seal agreement on fintech cooperation”

Fintech Startup MoneyMe Above $100 million loans

Fintech startup, MoneyMe Financial Group, has this week broken through the $100 million loan mark, after record daily compounded growth of 2,747 per cent in its medium amount and personal loans offerings drove its lending volume exponentially in the past few months. MoneyMe is a good example of the innovative new players pressing in on … Continue reading “Fintech Startup MoneyMe Above $100 million loans”

NAB Ventures backs Canadian fintech Company Wave

NAB’s venture capital fund, NAB Ventures, has led a US$24 million (AU$32 million) Series D funding round in Toronto-based cloud fintech company, Wave. Wave delivers cloud-based financial management software including accounting, invoicing, and payroll with seamlessly integrated financial services such as credit card processing and lending. Hear from NAB Ventures’ Melissa Widner and Wave CEO … Continue reading “NAB Ventures backs Canadian fintech Company Wave”

Rapid growth in FinTech credit carries opportunities and risks

A new report from the Financial Stability Board overviews the development of FinTech platforms and looks at potential risks such activity brings. The report highlights that the growth is strong in certain markets, but the business models and partnering models vary widely.  In volume terms China, US and UK lead the way. There is diversity … Continue reading “Rapid growth in FinTech credit carries opportunities and risks”

Fintech sector receives federal budget ‘boost’

From Investor Daily. The government has announced initiatives to increase competition in Australia’s fintech sector, increasing access to capital for small businesses and expanding the AFSL exemption for start-ups. As part of the federal budget handed down this evening, the government and Australian Prudential Regulation Authority (APRA) announced there will be a reduction in barriers … Continue reading “Fintech sector receives federal budget ‘boost’”

Banks and Fintech – Where Do They Fit?

US Fed Governor Lael Brainard spoke on “Where Do Banks Fit in the Fintech Stack?” at the Northwestern Kellogg Public-Private Interface Conference on “New Developments in Consumer Finance: Research & Practice” In particular she explored different approaches to how banks are exposing their data in a fintech context and the regulatory implications. Smaller banks may … Continue reading “Banks and Fintech – Where Do They Fit?”

Building the Infrastructure to Realise FinTech’s Promise

An excellent speech by Mark Carney, Governor of the Bank of England which paints some useful pictures about the future of Fintech and the need to break the mould. To its advocates, FinTech will democratise financial services. Consumers will get more choice and keener pricing. SMEs will get access to new credit. Banks will become … Continue reading “Building the Infrastructure to Realise FinTech’s Promise”