Industry

The fintech sector has largely welcomed the government’s pivot away from its previous proposed cuts to the R&D tax incentive, but some have warned the budget still has some shortfalls.

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Senator Andrew Bragg has said the Liberal Party was wrong for initially voting against a number of reforms in the financial services industry, commenting the sector has historically had too much power over the Coalition.

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A fall in mergers and acquisitions and private equity activity in Australian fintechs has driven total investment to fall by more than half year-on-year, despite venture capital backing more than doubling.

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The financial regulators have been labelled as “fragmented and unclear” in their approach to policing competition in the sector, with the Senate’s fintech committee urging for reforms as it pushes for Australia to take Hong Kong’s place as an APAC financial services centre.

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Fintech Business, in partnership with Mortgage Choice, is pleased to announce the finalists for the Fintech Leader of the Year category for the Women in Finance Awards 2020.

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