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FinTech

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Is cryptocurrency now legitimate (not just for the criminal groups?)
We've all seen the ransomware headlines - not a day goes by that a threat actor group doesn't post a cryptocurrency ransom following successful deployment of malware to a business' networks.But is the currency finally now mainstream? Recently CBA in Australia, started accepting and managing cryptocurrency (it struck strategic commercial relationships with regulated crypto exchanges and custodians).Visa is working through its Circle partnership to offer the currency, and Paypal is now live with Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.Could we see regulators move to tighten the use and flow of the currency further?https://economictimes.indiatimes.c
21 November 2021 by Daniella Trai...

FinTech

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Regtech & Fintech DLT-as-a-Platform live in Australia
A few years in the making, now Australia's Australian Securities Exchange (ASX) is live with Synfini - its distributed ledger technology (DLT) as-a-service platform.The premise is to offer multi-party services through the platform including automated consent management and data sovereignty with each party permissioned on the ledger according to specific security and privacy requirements.Could this regtech/ fintech innovation see more applications of distributed ledger technology and faster business workflows? Already KPMG is building onto the platform the NSW government building assurance solution (Broadridge)https://www.zdnet.com/article/asxs-blockchain-based-chess-replacement-pushed-to-april-2023/image credit : Hoyes
21 November 2021 by Daniella Trai...

FinTech

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The KEY to fix crypto's security vulnerability
Cryptocurrency is on the rise. Australia’s technology pioneer Peter Kazacos OAM of KAZ is bringing KAZ quantum security technology, in partnership with Quantum Digital Assets Limited. The industry-first solution is set to revolutionise cryptocurrency security by using quantum technology to fight quantum computing and upgrade the cryptography of existing protocols (like Bitcoin). Using real quantum phenomena, the quantum tunnelling of electrons are totally unpredictable and entirely random to produce quantum cryptographic keys. Theoretically this is impossible to reverse engineer and breach. This has the capability to solve crypto’s security vulnerability and remove threats posed by quantum computers. More: https://quantumassets.vg/
19 November 2021 by Samantha Sakr

FinTech

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Spriggy Diversifies Its Portfolio
Leading pocket money app, Spriggy, has made its first move outside of kids money management with the launch of Spriggy Invest, aimed at enabling parents to invest for their children's future.The app initially offers simple ETF-based options, either locally in Australia or in Global Technology shares.Spriggy benefits from a rapidly loyal customer-based of circa 400,000 Australian households, so the idea to futher monetise this base by offering additional services to families is likely to have been a no-brainer.The investments are managed by the Cache Invest - investment-as-a-service - platform.
20 October 2021 by Ben Ford

FinTech

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Cyber Security | Global Threats, Local Impact
What are cyber hackers up to now? How exposed is your organisation to the activities of cyber hackers? What do you do with the ransomware claim that's frozen your system and brought your organisation to a standstill? How can you 'hide' your business so that the hackers can't find you to disrupt your operations? How can you guarantee that your teams working remotely aren't weakening your defences?...Join leaders in their field for the most practical update on how you can anticipate and respond to the cyber security challenge facing your organisation today....https://www.linkedin.com/posts/mariamacnamara_cybersecurity-global-threats-local-impacts-activity-6856021383319830528-UlMn
19 October 2021 by Maria MacNama...

FinTech

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Brokers One Of New Beneficiaries of Open Banking Rule Changes
The Government confirmed the proposed rule changes to the Open Banking regime this week with mortgage brokers being one of the early beneficiaries.The rule changes are designed to make Open Banking data easier to access for a broader set of participants.Mortgage brokers and financial advisers will now be able to operate under the newly created 'Trusted Advisor' role, allowing them to more readily access their customers' consented financial data to speed up the mortgage application process.Minister Jane Hume said the new rules are "an important step in supporting the  development of a vibrant data economy that provides benefits to business and consumers".
8 October 2021 by Ben Ford