Policy recommendations<\/strong><\/h3>\nFintech Australia has already submitted a policy position paper to the federal government outlining the \u201cpriorities for reform of the Australian financial services industry\u201d.<\/p>\n
These include a focus on a coordinated reform agenda, raising the profile of fintechs and generating an \u201cecosystem of partners here and abroad to compete on a global scale\u201d.<\/p>\n
The recommendations include mandatory comprehensive credit reporting for large credit providers by the end of 2016, the development of a \u201cregulatory sandbox\u201d for startups to test products or models and a series of changes to the current equity crowdfunding legislation put forward by the government.<\/p>\n
These changes are important in order to stop Australian fintechs from relocating overseas, CoinJar co-founder Asher Tan says.<\/p>\n
\u201cWe, like too many other fintech companies, have had to look overseas to the UK and Asia to find a commercially viable regulatory environment in which to operate,\u201d Tan says.<\/p>\n
\u201cIt\u2019s time for the government to move on this and make Australia an attractive place to launch fintech startups.\u201d<\/p>\n
The inaugural Fintech Australia meeting will be held on March 3rd<\/sup>, where a management committee will be elected and the process of selecting an executive director will begin.<\/p>\nFollow StartupSmart on Facebook<\/strong>, Twitter<\/strong>, LinkedIn<\/strong> and SoundCloud<\/strong>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"More than 30 of Australia\u2019s startups, hubs, VC funds and accelerators have united to form a national association for fintechs<\/p>\n","protected":false},"author":1,"featured_media":58288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,8,9,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/48062"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=48062"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/48062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/58288"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=48062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=48062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=48062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}