The launch of ASIC’s online Innovation Hub is a clear demonstration of the significance of the continuing growth of financial technology businesses (Fintech). The hub is a proactive step from ASIC to engage with Fintech businesses during their establishment stage.
Given ASIC’s focus on positive cultures within organisations, ASIC will gain a lot of insight about the businesses from having this access. The hub is also consistent with ASIC’s vocal commitment to improving outcomes for consumers and investors.
Fintech businesses can now apply to access ASIC’s online Innovation Hub. The Hub provides tailored content which aims to foster innovation and assist Fintech start-ups in Australia. At the outset, the Hub will provide guidance throughout the early stages of start-up development. This includes the:
- pre-licence application phase;
- assistance with identifying regulatory issues; and
- access to a dedicated ASIC contact.
As part of the Hub, ASIC is also committed to engaging with the Fintech community by hosting and attending Fintech industry events.
Initial access to the Hub will focus on Fintech’s which have not commenced operations under an ASIC licence or are in the process of obtaining one. The criteria will also focus on whether a Fintech product or service has the potential to provide better outcomes for consumers and investors.
Click here to access the request form.