ASIC’s Innovation Hub is an initiative for fintech businesses that are developing innovative financial products or services. Through the Innovation Hub, eligible fintech startup businesses can receive informal assistance to help them navigate Australia’s regulatory system.
ASIC is committed to promoting innovation without compromising the fundamental principles of financial services regulation or the licensing process as reflected in ASIC’s strategic objectives.
ASIC is implementing its Innovation Hub initiatives by:
- Facilitating ASIC licensing for innovative fintech business models that meet our eligibility criteria.
- Engaging with the fintech community to consult on fintech and regulatory issues. This includes crowd-sourced equity funding, robo-advice and other matters and the nexus of finance, technology and regulation.
- Engaging with an external industry advisory group, the Digital Finance Advisory Panel (DFAP), which helps inform how we focus our efforts in this area.