Reserve Bank of Australia to explore CBDC use cases with DFCRC
The RBA says the project will engage with “a wide range of industry participants”.
Australia
Heritage Bank appoints Mikhail Lopushanski as CISO
Lopushanski will work to strengthen the bank’s IT, digital and data security defences.
Aussie paytech mx51 raises $22m Series B
The Series B round was led by an undisclosed “global fintech investor”.
Flywire acquires Aussie education paytech Cohort Go
The acquisition will help build out Flywire’s existing education business.
BNPL firms Zip and Sezzle agree to call off proposed merger agreement
The merger was initially announced earlier this year.
Australia’s ANZ snaps up Suncorp Bank in $3.3bn deal
ANZ CEO Shayne Elliott says the acquisition is a “cornerstone investment” for the firm.
Australia’s first Islamic bank receives restricted banking licence
The bank has received a restricted ADI licence from the APRA.
Aussie paytech EML Payments appoints Emma Shand as new CEO
Shand has been an EML board of directors member since September 2021.
NPP Australia rolls out new digital payments solution, PayTo
NPP Australia has been working with the financial services industry to develop the PayTo service.
Aussie BNPL firm Openpay puts a pause on US operations
The company’s available capital and funding will be redirected to its Australian business.
Aussie challenger Volt to shutter
The firm says it is “closing its deposit-taking business and intends to return its banking licence”.
New banking app Chippit launches in beta in Australia
Founded in May this year, Chippit calls itself a “social banking app”.
CBA’s new digital mortgage brand, Unloan, underpinned by Mambu’s tech
CBA positions Unloan as “a revolutionary force in the Australian mortgage industry”.
Open banking fintech Bud closes $80m Series B funding round
The new funding will be used for further international expansion, Bud says.
FinTech Australia’s CEO Andrew Porter steps down after four months
Rehan D’Almeida will replace Porter through his promotion to the role of general manager.
Aussie payments regulator sets out QR code guidelines
The voluntary guidelines are directed at financial institutions, payment service providers and merchants.
CommBank-backed money app Kit enters trial phase
Kit is available in trial mode to 5000 people living in Australia.
Core banking vendor Thought Machine raises $160m Series D
Thought Machine’s valuation has doubled since its Series C in November last year, when it raised $200 million.
Westpac partners 10x Banking on new platform for institutional clients
10x Banking will provide the core technology for the new venture.
Airwallex hires Pranav Sood to head up EMEA operations
Sood joins from GoCardless, where he was most recently vice president of small business.
Aussie fintech for farmers AgriDigital raises $17.4m
The round, a mix of debt and equity, was led by a local fund.
Aussie B2B BNPL fintech BizPay cuts 30% of workforce due to “challenging market” for fintechs
BizPay is undergoing an “operational transformation”, which has seen a number of processes automated.
Kiwi regtech start-up First AML lands £15.6m Series B, makes UK debut
The company’s co-founder Bion Behdin is relocating to its new London office.
Aussie fintech Archa lands $24m in equity and debt funding
The pre-Series A investment round consists of $4 million in equity funding and a $20 million debt facility.
Stripe-backed one-click checkout fintech Fast folds
Fast CEO Domm Holland says: “Sometimes trailblazers don’t make it all the way to the mountain top.”
FinTech Futures: Top five stories of the week – 8 April 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ANZ and Worldline launch new payment service in Australia
Worldline holds a 51% stake in the new entity, with ANZ holding the remaining 49%.
Australian fintech start-up Yondr Money goes crowdfunding to boost growth
The Aussie challenger bank is looking to raise up to $1.5 million through crowdfunding.
Aussie paytech Zepto secures $19m Series A raise
The Series A round was led by Airtree Ventures and Decade Partners.
Aussie fintech Parpera launches to help people grow their businesses
Founded in April 2020 by Daniel Cannizzaro, Parpera has already raised AUD 2.7 million in equity funding.
Start-up Cape raises $33.1m to help businesses “unlock expense nirvana”
Cape will invest the money in technology, product expansion, and doubling its headcount in the coming months.
PPRO acquires Alpha Fintech to become “global payments powerhouse”
The Alpha Fintech takeover will extend PPRO’s reach to Asia Pacific.
Aussie BNPL firm Zip confirms Sezzle acquisition
The deal values Sezzle at approximately $360 million (AUD 491 million).
Australian fintech Zeller lands $73m Series B funding
Zeller says it has signed up more than 10,000 Australian businesses within eight months.
Westpac appoints Damien MacRae to lead new BaaS business
Westpac’s BaaS offering was built in partnership with 10X and integrates 30+ various tech services.
Aussie banking app Douugh taps TrueLayer for open banking data access
Australia’s Consumer Data Right framework enables the sharing of customer data between banks and fintechs.
Aussie SME financial management platform Thriday set to launch in beta
Thriday was set up to tackle “the poor quality of financial management solutions offered to small businesses”.
Digital ID verification start-up OCR Labs expands to North America with $30m funding
OCR Labs has raised $46 million through its combined Series A and B.
UK challenger Revolut secures Aussie credit licence
Revolut Australia CEO says the firm is creating the “world’s first truly global financial platform”.
Online brokerage ThinkMarkets secures $30m investment to support growth
The trading platform has headquarters in London and Melbourne.
