Josh Foreman
Fintech

Debt collection fintech InDebted banks $50 million Series C

- September 24, 2024 2 MIN READ

Consumer debt collection fintech InDebted has raised $50 million in a Series C that values the scaleup at more than $350 million The round was led by Airtree and supported by Australian Retirement Trust and new growth fund Premier Capital Partners. Existing shareholders Reinventure, Carthona and Perennial also chipped in. Indebted previously raised $22.5 million… Read more »

robot
AI/Machine Learning

Your call is important to our chatbot: CBA looks to AI as customer service replacement

- September 17, 2024 3 MIN READ

The Commonwealth Bank (CBA) will test a generative AI-based chatbot that could replace its call centre staff as part of Australia’s largest financial institution’s expanded use of AI technology. On Tuesday, CBA announced it would become the first Australian company to use Amazon Web Services’ (AWS) P5s, which are based on Nvidia computer chips supporting… Read more »

Events

10 takeouts from Stripe’s World Tour landing in Sydney

- September 3, 2024 3 MIN READ

This year marks a decade of Stripe in Australia. The US global payments behemoth founded 14 years ago by Irish-American siblings John and Patrick Collison now services over 500,000 Australian businesses and has processed more than A$200 billion since landing here The Stripe World Tour rolled into Sydney recently to showcase the fintech’s products and users, and including a… Read more »

arm wrestle
Fintech

What the government needs to do to break the Consumer Data Right deadlock

- September 2, 2024 3 MIN READ

The promise of the Consumer Data Right (CDR) was a future where businesses are empowered to make informed, confident decisions based on a comprehensive understanding of their financial health.  Yet, despite the significant potential of this initiative, its implementation has been mired in unnecessary complexity, lack of clear guidelines and the reluctance of traditional financial… Read more »

Breaking Bad, money pile
Fintech

STEALTH MODE MONEY: Techboard checks under the bed for unannounced capital driving fintech startups – and finds nearly $700 million

- August 30, 2024 5 MIN READ

The amount of capital flowing into local fintechs is nearly double the known figures according to estimates from funding analytics firm Techboard, which has launched a new report into investment in the sector. Some of that funding includes millions into VC-backed startups  with around $684 million in unannounced funding discovered alongside $769m in announced deals… Read more »

Meerkats
Data

What’s next for Australia’s Consumer Data Right after action initiation – and the lessons from overseas

- August 23, 2024 4 MIN READ

Despite being drafted and tabled in the Australian Senate in 2022, the Action Initiation Bill was only passed last week. Action initiation would transform the Consumer Data Right (CDR) from merely a data-sharing framework into a dynamic system that empowers consumers to take action based on the insights they gain. The CDR was created to… Read more »

Stephen Jones
Fintech

Why the Consumer Data Right matters and you need to tell Australian politicians what you think

- August 7, 2024 3 MIN READ

Next week, the Australian Parliament will cast a pivotal vote on advancing the Consumer Data Right (CDR) to Action Initiation. This decision could redefine consumer freedom and competition across the nation, making it one of the most significant moments in our history. What is Action Initiation?  Action Initiation will enable consumers to take unprecedented control… Read more »

Fintech

Australia’s big banks, which made a $32.5 billion profit last year, are whingeing about the cost of the Consumer Data Right

- July 4, 2024 5 MIN READ

Australia’s Consumer Data Right (CDR) turned four this week, and as the fintech sector gathered at a sold out event to discuss and debate its progress and possibilities, industry lobby group the Australian Banking Association (ABA) released a massive whinge on the issue. The ABA commissioned a strategic review of open banking from consultancy giant… Read more »

Tyro Payments
Events

WeMoney wins 3 Finnies at the FinTech Australia awards

- June 8, 2024 2 MIN READ

WeMoney was the biggest winner at the annual FinTech Australia Finnie Awards, taking home the silver in three categories, including the People’s Choice Award for fintech of the year. The annual awards, which recognise the best in Australian fintech, saw FrankieOne take home the top gong as Fintech Organisation of The Year award, while digital… Read more »

Rehan D'Almedia
Fintech

FinTech Australia is holding a second Consumer Data Right Summit featuring CDR’s ‘godfather’ Scott Farrell

- May 21, 2024 2 MIN READ

Following the massive success of its inaugural CDR (Consumer Data Right) Summit last year, FinTech Australia will run its second gathering in Sydney to start the new financial year. The CDR summit at The Hilton in Sydney on Wednesday, July 3, will showcase local and international experts, policy makers, founders and builders discussing the future of… Read more »