AI-backed Aussie risk decisioning firm Rich Data Co raises $17.5m Series B
The round was led by Australian bank Westpac and cloud-based financial services platform nCino
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Australian banks join forces to protect customers from scammers with new Scam-Safe Accord
The industry will also make an AUD 100 million investment towards a new confirmation of payee solution.
FinTech Australia shakes up board with four new appointments
Simone Joyce will remain as chair through 2024 and will hand over her post to another board member sometime next year.
HSBC launches $150m venture debt product for high-growth scale-ups in Australia
Loans are anticipated to range from $6.6 million to $19.8 million.
AMP Bank and Salt Bank tap Starling’s Engine platform for digital banking offerings
Engine enables clients to build their own banking propositions using the same core technology that Starling uses.
Nuvei reportedly snaps up Aussie paytech Till Payments for $30.5m
The paytech was valued at $350 million only seven months ago.
DeFi BNPL start-up AtPay taps Pismo for card issuance
Pismo is to support AtPay’s BNPL and card management programmes, ahead of its Q1 2024 launch.
Aussie SME lender Earlypay acquires Timelio’s $40m loan portfolio and assets
The portfolio comprises $35 million in invoice finance and a further $5 million in trade finance.
Blackbullion taps Bud to streamline higher education student finance applications
Blackbullion will deploy Bud’s Assess solution and its open banking and transactional AI tech.
National Australia Bank partners Greener to reduce small business climate emissions
Greener’s business solution was launched earlier this month following its seed funding round.
Australia’s Bendigo and Adelaide Bank migrates digital banking system to Google Cloud
The bank intends to migrate at least half of its business operations to the cloud by 2024.
Australia proposes significant regulatory reforms for digital asset platforms
The Treasury is welcoming feedback on its latest proposals until 1 December 2023.
Australian government proposes new regulations for digital wallet providers
The proposals will be introduced to the Australian parliament this year.
National Australia Bank taps US fintech Trovata to launch new treasury solution
The bank’s venture capital fund previously participated in Trovata’s $27 million Series B in June 2022.
Bendigo and Adelaide Bank taps nCino for business banking upgrade
With nCino, the bank aims to improve efficiency and deliver a “frictionless” experience for staff and customers.
Aussie SME challenger Judo Bank taps Backbase for its engagement banking platform
By leveraging Backbase’s platform, Judo Bank aims to “create new digital experiences” for its customers.
India’s Samunnati signs for Finbots.AI’s CreditX AI credit modelling solution
The deal marks another step in Finbots.AI’s push to scale across APAC.
Commonwealth Bank of Australia snaps up business lending platform Waddle from Xero
Xero announced its plan to exit the start-up earlier this year after initially acquiring it in 2020.
Pepper Money agrees to buy HSBC’s New Zealand mortgage portfolio
On completion, the acquired portfolio is expected to be worth NZ$1.4 billion in outstanding balance.
Complii Fintech Solutions acquires MIntegrity to reinforce regulatory offering
The acquisition includes an additional $150,000 payment dependent on MIntegrity’s financial performance.
Metro Bank founder launches acceleration partner Archie for early-stage fintechs
Archie is led by serial fintech entrepreneur Anthony Thomson and Steve Brennen, a former PayPal director.
Splitit plans to go private for stringent $60m capital commitment
Part of the commitment requires the US BNPL vendor to redomicile to the Cayman Islands.
ANZ invests in mule account detection solution to help fight fraud
ANZ says it conducted a successful pilot in April, identifying nearly 1,400 high-risk accounts.
Nexi buys 30% stake in German PSP Computop
Computop’s founders, Frank Arnoldt and Ralf Gladis, previously held 50% of the company’s shares each.
Wealthtech GBST strengthens cloud portfolio with Advice Intelligence acquisition
The deal follows GBST’s acquisition of WealthConnect, the Salesforce-based CRM solution, in May.
Swiss SME lender TP24 secures £345m debt funding from Barclays, M&G
The funding will be used to lend to SMEs in the UK, Australia and Netherlands.
Grow Finance joins Pismo as its first Australian client for card issuance
Launching this September, Grow seeks to provide businesses with better cash flow, management and capital.
Rimes supports digital transformation of Jana with Matrix solution
Jana has gone live with the solution in an effort to streamline and automate its operational processes.
Wise to offer its infrastructure to help fintechs issue accounts and cards
Wise Platform will roll out the new features in Australia initially, and has already signed two clients.
Aussie fintech Stables launches APAC’s first stablecoin virtual card
Stables’ CEO says the company wants to simplify stablecoin usage and drive its global adoption.
UK paytech GoCardless lays off 15% of its workforce
GoCardless cites the current economic environment as the reason behind the layoffs.
Marqeta closes Australia office in bid to cut costs
Marqeta is undertaking “restructuring actions” in Q2 this year to reduce operating expenses.
Tradeweb acquires Aussie trading platform Yieldbroker in AU$125m deal
The Yieldbroker platform claims to facilitate trading of approximately AUD 6 trillion annually.
Australian government set to regulate BNPL industry
Australia aims to introduce the final BNPL bill in the parliament by the end of 2023.
Aussie banks launch new digital platform to stop fraudsters from receiving payments
In its trial phase, the platform cut down the time taken to resolve scam cases by more than half.
Heritage and People’s Choice appoints Penny Iverach as head of technology integration
Iverach will develop and lead the newly merged organisation’s tech integration roadmap.
Tradeweb in advanced takeover talks with Aussie trading platform Yieldbroker
The AUD 125 million ($84m) deal remains subject to Yieldbroker stockholder approval.
IOUpay goes into voluntary administration over suspected fraud
It took this step due to a “number of outstanding debts” with “no reasonable prospect” of repaying them.
Aussie paytech EML Payments mulls sale as CEO resigns
The company is conducting a review as it looks to “transition away” from its previous long-term strategy.
Aussie financial software firm Iress to cut 10% of staff amid business restructure
The cuts come as the company looks to form “a more efficient and focused organisational structure”, Iress says.
