Aussie fintechs call for policy reform
(13 November 2015 – Australia) A collection of financial technology startups, incubators and investors in Australia have united in a call to the government for reform.
A total of 32 organisations have signed their names to a letter to the Turnbull government, urging it to prioritise the industry in its upcoming innovation agenda, and assist it in becoming a regional hub.
Signalling to successful partnerships between the industry and governments in countries such as the UK, US and Singapore, the coalition recommends a government taskforce to address reforms around tax credits and concessions to startups and to deliver regulatory clarity around new innovations in banking.
The group, which includes Westpac's Reinventures fund alongside established fintech hubs such as Sydney's Stone & Chalk, says it will establish a professional fintech association in the coming months to lobby on behalf of the industry.
Subscribe