FinTech Voice, June 5, 2025

Written By Katrina Angelika

Hi FinTech,

Submissions are closing in 1 week for our recent Banking Reverse Pitch. If you have a solution in fraud prevention, payments, and/or wealth, we strongly encourage you to apply or share this opportunity with a company that might. Watch the recording, access the problem statement, and submit your pitch here. 

It's our 10th year anniversary this year, and we're inviting you to celebrate with us at the Finnies. The Finnies marks a key moment for the industry where we celebrate and showcase our successes and achievements to the world. It's set to be a spectacular night and with tickets almost at capacity, make sure to register today.

Our new flagship event, the CDR Summit, will be bringing together key stakeholders to discuss the value and full potential of consumer data right, offering insights, discussions, and innovative solutions to navigate the evolving landscape of data privacy and empowerment. We hope you can join us!

Kind regards,

Rehan D’Almeida,

Chief Executive Officer,

FinTech Australia

Policy Update

AUSTRAC: Second Public Consultation on AML/CTF Rules

AUSTRAC is seeking feedback on the second exposure draft of the AML/CTF Rules, which builds on feedback received during the first round of consultation. 

The updated draft includes changes to AML/CTF programs, customer due diligence, correspondent banking, the travel rule, and other key areas. It also introduces new obligations around reporting (e.g. suspicious matter and threshold transaction reports), registration and enrolment requirements, and updates for remittance and virtual asset service providers. Submissions are due by 27 June 2025. 

FinTech Australia will be making a submission and encouraging members to get involved by joining our upcoming consultation call with our policy partner, Cornwalls on 10 June 2025 or contacting our policy team directly.

ASIC Consultation: Basic Deposit and Insurance Product Relief

ASIC is consulting on the proposed remake of Instrument 2015/682, which provides relief for AFS licensees from the requirement to appoint distributors of basic deposit products or general insurance products as authorised representatives. The relief, set to expire on 1 October 2025, was originally introduced to reduce regulatory burden and facilitate broader consumer access to low-risk financial products. ASIC proposes to remake the instrument for another five years. Submissions close 25 June 2025. 

FinTech Australia does not propose making a submission.

ACCC - Updated CDR Regulatory Guidance

The ACCC has published two updates to CDR regulatory materials:

  • A new fact sheet for non-bank lenders summarising how CDR obligations apply to the sector under the staged rollout.

  • An updated knowledge article on how to determine if a product is in scope under the CDR, now reflecting changes made in version 8 of the Rules.

These updates are part of the broader effort to support data holders and recipients in understanding their responsibilities under the Consumer Data Right.

Members operating in the CDR ecosystem particularly may find this guidance helpful in navigating their obligations and upcoming compliance milestones.

Other news:

We are working on these submissions:

We recently made submissions on:

  1. Data Standards Board's CDR Consultation Draft 367

  2. Strategic Examination of the Research & Development system

  3. Consultation Paper 382: Low cost credit contracts & Draft RG 000 Low cost credit contract

  4. Consultation Paper 381 (CP 381): Updates to INFO 225: Digital Assets: Financial Products and Services

  5. Public consultation on new AML/CTF Rules

  6. 2025–26 Pre-Budget Submission

  7. Review of Merchant Card Payment Costs and Surcharging - Issues Paper

  8. Consumer Data Right Rules – Non-Bank Lending and Banking Data Scope Consultation

  9. Scams Prevention Framework - Exposure Draft legislation

  10. Introducing Mandatory Guardrails for AI in High-risk Settings

See ourrecent submissions on our website.

FinTech Australia regularly makes submissions to consultations across a wide range of policy and regulatory issues. Communications about how to get involved in these processes are distributed to our Policy Working Group membership.

Upcoming Events

Save the dates for our events in 2025! 

Mark your calendars and reach out to the team if you have any enquiries or would like to support any of these events.

  • The Finnies - Tickets are selling fast! Get yours today.

🗓 Thursday, 26 June 2025 

📍 Doltone House Jones Bay Wharf, Pyrmont, NSW

🗓 Wednesday, 17 July 2025 

📍The Hilton, Sydney, NSW

Events and opportunities from the community

For all events and opportunities from the community, click here.

Community Updates

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

  • Wisr launches $267M warehouse. Read More.

  • LAB Group and Whiteoak Partner to Digitise Investor. Read More.

  • Aryza Announces Strategic Acquisition of Webio to Accelerate AI Integration and Drive Future Growth. Read More.

  • Carvoeiro Branco Partners with Damisa, Marking a Groundbreaking Step in Real Sstate Market. Read More.

For more news from the community, see here.

New Members

Let's welcome FinTech Australia's new members! 🎉

FinTech Australia's Podcast

Listen to the challenges, opportunities, and stories from our community faces across the fintech industry in Australia! 🇦🇺

Have you hear about our podcast revamp? The podcast features a panel-type discussions where you can nominate speakers and choose thought-provoking topics that matter to the fintech community. Express your interest here.

Tune into FA Podcast here! 🎧

Katrina Angelika
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