finder fintech roundup: Streamlined international transfers, support for H2Ocean and ASIC’s Corporate Plan
Regulators, banks and investment funds are driving Australian fintech forward.
Here's what happened in Australia's fintech space this week:
Innovation and fintech are the focus of ASIC's Corporate Plan
The Australian Securities and Investments Commission (ASIC) released its Corporate Plan, which outlined how it will deal with digital disruption and financial innovation. Fintech was the focus of two of ASIC's five key challenges to its long-term vision, which looked at 2016-17 - 2018/19.
Australia's first listed fintech venture company gets high-profile support
In what might be a testament to its future success, H2Ocean, Australia's first listed fintech investment fund, has received public support from Atlassian co-founder and Tyro Payments director Mike Cannon-Brookes. The high-profile Cannon-Brookes committed to purchasing shares in H2Ocean in order to get access to the fund's fintech startup portfolio, which already has 15 startups on board.
CBA and Barclays streamline international money transfers
Commonwealth Bank and British bank Barclays have come together to streamline international transfers from Australia to the UK. Customers will be able to transfer money between the two countries using only a mobile phone number. The innovation is being run through CommBank's mobile app and Barclays Pingit in the last quarter of 2016.
The finder fintech roundup is a summary of the news in fintech from the past week. Check back every Friday to catch up.