FinTech Australia has released a new tool for early-stage and global fintechs expanding into Australia that offers clear guidance on the country’s financial services licensing laws.
Created in partnership with law firm K&L Gates and Austrade, the regulatory map is a global first and aims to greatly ease overseas companies’ expansions into Australia and assist early-stage businesses in understanding the regulatory regime.
For each specific license, the map details application requirements, the government agencies that need to be engaged and ongoing considerations for holding that license.
FinTech Australia CEO Rebecca Schot-Guppy said companies expanding into the market in Australia bring talent and funding into the local ecosystem, which benefits all fintechs.
“Australia’s regulation is robust and it can be a point of confusion for emerging fintechs and international fintechs.