Results

We are continually meeting with innovative businesses in the fintech sector and helping them navigate our framework. The information below shows our results to date.

ASIC's Innovation Hub

Progress Report

as of November 2017

Ih Results Nov 2017

Innovation Hub Website Progress Report Images Informal Assistance

197

Entities requested and received informal assistance

Innovation Hub Website Progress Report Images Meetings

56

Meetings with Reg Tech entities

Innovation Hub Website Progress Report Images Licences Granted

38

New AFS/credit licences granted

Our network

'Collaboration is at the heart of the new digital economy. Through DFAC, fintechs, along with consumer and academic representatives, work closely with regulators to inform a dynamic regulatory response based on a sound understanding of the new digital finance models, their potential benefits and risks.'

Deborah Ralston
Professor of Finance, Monash University (DFAC Chair)

'With an economy heavily skewed towards financial services, Australia has a unique opportunity to benefit from changes in consumer behaviour that are increasingly driving people to seek financial products through digital channels. The ASIC Innovation Hub ensures the local financial services industry can adapt with agility to the changing landscape.'

Toby Heap
Founding Partner, H2 Ventures

'I think it's fantastic to see ASIC working so hard to accommodate the needs and opportunities presented by Australian fintech startups, and sending a clear message that Australia's financial regulatory doors are open.'

Murray Hurps
General Manager, Fishburners

Related links

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News

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ASIC broadens fintech cooperation with Canadian regulators

12 December 2017

ASIC has announced a Cooperation Agreement with Canadian regulators on fintech cooperation. This agreement expands the existing framework for information sharing and also allows the referral of innovative fintech businesses to and from Canada.

Read the media release

ASIC’s regulatory sandbox proposal to remain unchanged

12 December 2017

ASIC has today released a review of its regulatory sandbox, introduced in December 2016.

Read the consultation paper

ASIC closure over the festive season

6 December 2017

ASIC offices will be closed from 5.00pm on Friday 22 December 2017 to 8.00am on Tuesday 2 January 2018. During this time requests for informal assistance will not be processed. You can also expect that early in January responding to requests for assistance will take a little longer than usual.

We encourage businesses to have any informal assistance requests or notifications related to the fintech licensing exemption to be sent to the Innovation Hub by Tuesday 12 December 2017 in order to be considered before the shutdown period.

Dubai and Australia seal agreement on fintech cooperation

23 November 2017

The Dubai Financial Services Authority and ASIC have signed a Cooperation Agreement which provides a framework for cooperation to support and understand financial innovation in each jurisdiction.

Read the release

More news

Events

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Stay informed

For information on what is coming up, sign up at innovationhub@asic.gov.au.

Videos of our recent RegTech showcase now available

Session 1, Session 2.

 

Podcasts

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Crowd-sourced funding

ASIC Commissioner John Price joins the podcast to discuss recent law reform around crowd-sourced funding and ASIC's role in administering the new legislation.

Listen now or download for later

Last updated: 10/11/2017 12:04