New Zealand anti-money laundering regtech startup First AML has launched in Australia to help the venture capital sector tackle the federal government’s compliance requirements. A second tranche of AML legislation is expected to be introduced by 2023 and several of the Australia’s top VC firms using the platform. Under Tranche 1, Australia has 15,000 reporting… Read more »
New Zealand anti-money laundering tech startup First AML has raised AU$7.3 million in a Series A round. The raise was led by US-basedBedrock Capital, with support from existing investors including Pushpay founder Chris Heaslip and Icehouse Ventures. It’s Bedrock Capital’s first APAC investment. While Australia’s big four banks have regularly fallen foul of regulators over… Read more »
ACS tells Senate inquiry there’s a $16 billion pot of gold for the financial sector if it embraces fintech AI
The fintech sector has the potential to deliver up to $16 billion in efficiencies to the financial industry via artificial intelligence, new research commissioned by the ACS reveals. The IT sector professional body recently presented the research by AI analytics firm Faethm to a Senate Select Committee investigating fintech and regtech ACS CEO Andrew Johnson… Read more »
Liven co-founder Grace Wong The Australian Senate’s Select Committee on Financial Technology and Regulatory Technology released an issues paper this week ahead of its inquiry into the sector. The committee will look at the size and scope of the opportunity for Australian consumers and business arising from financial technology (fintech) and regulatory technology (regtech); barriers… Read more »
Bill Gates once said that a company’s most unhappy customers are the greatest source of learning. As the dust settles on the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, many disgruntled and disillusioned Australians will be hoping this proves true, and that after a decade of scandal the banks might finally learn their lesson and play fairly with their customers.
The RegTech Association has appointed former general manager Deborah Young as its new CEO, with Commonwealth Bank’s Jasper Poos coming on as a director.
FinTech Australia receives $200,000 in funding from Federal Treasury to promote Australian fintech ecosystem
Australia’s peak fintech body, FinTech Australia has received a $200,000 funding grant from the Federal Treasury to promote Australia as a world leading fintech destination.