Fintechs: Apply for assistance
Please fill out the Innovation Hub fintech startup assistance request form. Submit any questions, along with and your completed form (with any relevant attachments you wish to include) to Mark Adams at innovationhub@asic.gov.au.
The application process takes approximately one month, depending on the complexity of your application. We’ll let you know whether your application has been successful and if not, why not.
Application process
Your submission
Submit your Innovation Hub assistance request form
ASIC's assessment
We assess your request against the eligibility criteria and will provide a response in about one week
ASIC's response
We need more time
- We require more time to assess your request
- You will be kept informed of any progress.
We need more information
- More information is needed to assess your request
- We will discuss what information is required with you by email
- Once the information is provided, the assessment will continue.
Does not meet criteria
The eligiblity criteria has not been satisfied.
- An explanation will be provided and we will refer you to any relevant ASIC guidance that may support you moving forward
- Once your business idea is more defined, reconsider applying for assistance.
Meets criteria
Your request is eligible for assistance
- Informal assistance will be provided by email
OR
- A face-to-face or phone meeting will be held within 2–3 weeks from making your request, subject to availability.
Your next step
Once you have considered any assistance or guidance from ASIC, you will need to work out how you will comply with any laws that apply to you. Your next step may include:
- Operate as an authorised representative of another business
- Make changes to your business model in light of assistance provided
- Make a waiver application
- If you already hold an AFS licence, meet compliance requirements (eg. register scheme or complete disclosures).
- Make a formal licence application
Your application
If you choose to make a formal application
ASIC's licensing team assigns a dedicated analyst to your application.
Timing
Typically, the process to request assistance through the Innovation Hub takes up to four weeks, but varies depending on the complexity and quality of your application.
Next steps
Your assigned Innovation Hub analyst will then assist you by providing informal advice as you prepare your licensing application and streamline the process as much as possible. They will provide support for 12 months once you have been licensed to help you understand your obligations.
To do
- Download the Innovation Hub assistance request form
- Address the eligibility criteria
- Read our information on licensing and regulation
- Appoint a suitable contact within your organisation
- Direct any questions to the Innovation Hub team
- Submit your assistance request form
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