Call to grab fintech opportunity

Australia could become one of Asia-Pacific’s fintech hubs, a Coalition Senator said last night.

Senator Andrew Bragg made the claim in handing down the Senate’s Select Committee on Financial and Regulatory Technology’s interim report yesterday.

The report’s 32 recommendations included relaxing regulations on fintech services, more certainty on R&D concessions and a greater focus on digital technologies by government and agencies.

“The Committee has made a number of other recommendations in the areas of regulation, tax, capital and funding, skills and talent, and culture,” Bragg said.

“Australia should continue developing as a leading Asia-Pacific fintech nation especially as Hong Kong declines as a financial centre.”

“More jobs and better consumer choice will emerge if we are competitive and iterative in our approach to policy formulation.”

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Source: Call to grab fintech opportunity | Information Age | ACS