Industry

The fintech community has welcomed a number of initiatives contained in the federal budget handed down this evening.

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Fintech start-ups that collaborate with major establishment players are simply providing digital lipstick and restricting their own capacity within the sector, according to Tyro Payments executive director Jost Stollmann.

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Shadow treasurer Chris Bowen has used a speech to fintech incubator Stone & Chalk to launch a blistering attack on the federal government, saying its innovation agenda only lasted “five minutes”.

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Robo-advice services are more likely to maintain existing business models used by banks rather than be a disruptive innovator, according to venture capital firm Reinventure.

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Tyro Payments co-founder and former head of sales Andrew Rothwell has been named as the new chief operating officer of data exchange company Data Republic.

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