Latest news with #AustralianSecuritiesandInvestmentsCommission
Time of India
22-05-2025
- Business
- Time of India
Go Fintech eyes Australian expansion as global push for inclusive AI-driven finance accelerates
Advertorial Go Fintech, a global financial technology firm, is set to expand into the Australian market, spearheaded by Executive Director Sadaf Roksana. The company plans to invest in early-stage fintech startups, focusing on AI-powered services and RegTech solutions. Go Fintech also aims to collaborate with financial institutions and regulatory bodies to implement AI-driven systems, enhancing financial inclusion for underserved communities. Tired of too many ads? Remove Ads AI-powered financial services and automation tools RegTech solutions for compliance, risk, and fraud prevention Digital lending and alternative credit platforms Micro-banking infrastructure designed for financial inclusion Tired of too many ads? Remove Ads Real-time credit scoring engines based on behavioural and transactional data Fully automated KYC/AML and anti-fraud infrastructure Digital lending systems tailored for small and medium enterprises (SMEs) and micro-entrepreneurs Customer engagement tools powered by behavioural AI and machine learning Tired of too many ads? Remove Ads Go Fintech, a fast-growing global financial technology firm with a strong presence across South Asia and the Middle East, is preparing to expand into the Australian market as part of a broader strategy to integrate artificial intelligence (AI) and inclusive financial infrastructure across advanced Director Sadaf Roksana , a recognised leader in financial inclusion and digital banking transformation, is spearheading the initiative. The company's Australian play combines venture investment, regulatory engagement, and direct collaboration with financial institutions to modernise core systems and broaden access to credit and its venture capital arm, Go Fintech plans to deploy targeted investments into early-stage and growth fintech startups in Australia, with a focus on technologies that bridge traditional finance and frontier innovation.'Australia presents a unique mix of regulatory maturity and unmet demand for applied fintech innovation,' Roksana said in an interview. 'We're not just bringing capital—we're bringing a tested blueprint for scaling financial access responsibly and efficiently.'Beyond venture activity, Go Fintech intends to partner with domestic banks, credit unions, and regulatory bodies—including Australian Securities and Investments Commission (ASIC) and Australian Prudential Regulation Authority (APRA)—to pilot and implement AI-driven systems aimed at reducing operational friction and increasing credit penetration among underserved products have already been deployed across markets such as Bangladesh, the UAE, and Singapore, where they have helped increase financial inclusion and operational efficiency across both private and public company will roll out initiatives aimed at women, first-generation migrants, Indigenous communities, and regional populations—segments often left behind by traditional banking confirmed that the firm is actively seeking partnerships with community organisations and NGOs to embed educational outreach and digital onboarding across Australia's underserved regions.'We've seen these models succeed in Dhaka, Dubai, and Amman,' she said. 'With local adaptation, there's no reason we can't replicate and exceed those results here.'Founded in the early 2010s, Go Fintech has scaled across multiple jurisdictions with a focus on digital payments, alternative lending, and AI-driven compliance systems. Under Roksana's leadership, the firm has onboarded millions of users and established collaborations with central banks and financial regulators in emerging note that Australia's fintech ecosystem, while highly regulated and competitive, is increasingly open to global entrants offering differentiated value—particularly in AI and RegTech. According to FinTech Australia, venture capital investment in the sector surpassed AUD 2.5 billion in 2024, with AI applications leading growth.'Australia is entering a new phase of fintech maturity,' Roksana said. 'We see strong alignment between our capabilities and what the market needs next: intelligent systems, inclusive design, and regulatory-ready infrastructure.'Go Fintech's Australian launch is expected to include a formal partnership network announcement and initial capital deployment by Q4 2025.
AU Financial Review
22-05-2025
- Business
- AU Financial Review
Metrics' says higher disclosure could hurt private lenders
Australia's largest private credit manager has warned that regulators could disadvantage the industry if it forces them to adhere to higher disclosure standards than banks. Metrics Credit Partners managing partner Andrew Lockhart, told delegates at the Morningstar Investment Conference this week that sound governance trumped the need for more disclosure. His comments follow the launch of a review into private asset by the Australian Securities and Investments Commission in February.
7NEWS
21-05-2025
- Business
- 7NEWS
Australian activewear brand Exoticathletica goes into administration
A popular Australian activewear brand has collapsed, owing more than $100,000 to its employees. Exoticathletica was placed in administration on April 9, according to documents filed with the Australian Securities and Investments Commission (ASIC). Matthew Richardson and Terry van der Velde from SV Partners have been appointed as administrators. It's estimated the Queensland -based company owes as much as $114,000 to its staff, including $37,000 in superannuation, $73,000 in annual leave, $5800 in long service leave and $33,000 in pay in lieu of notice. The activewear brand owes $6.7 million to Commonwealth Bank and about $5.4 million to unsecured creditors. It also owes $211,000 to Active Apparel Group, an activewear manufacturer. The brand was founded by Leilani Chandler in 2014 and specialises in brightly coloured and printed athleisure clothing. According to the company's website, Chandler was inspired by Brazil's fashion culture. 'We create activewear and active lifestyle products, using innovative and elevated fabrics and fits, with bold and bright colours and prints,' the company's bio says. The business has continued to operate during the administration process. The creditors are seeking to sell the business via expressions of interest.
Sydney Morning Herald
19-05-2025
- Business
- Sydney Morning Herald
Our super funds are good at making money but face a rising challenge
Superannuation funds will need to keep getting bigger through mergers, says KPMG, as the $4.2 trillion sector tackles rising costs, and a run of high-profile incidents revealed gaps in the services provided to members. While Australia's super funds continue to grow, and latest fund returns have been solid, the past year has been a rocky one for the sector. Some notable funds were rocked by landmark court cases from the corporate watchdog and five came under major cyberattacks. In November, the Australian Securities and Investments Commission launched court proceedings against Cbus Super for delays in failing to process death and disability insurance claims, which cost their members $20 million. Then in March, ASIC released a damning report on industry-wide failures to process death and disability benefit claims after it sued AustralianSuper for failing to process close to 7000 death insurance claims earlier the same month. The challenging year for the industry continued in April when thousands of Australians' accounts were accessed in a cyberattack on five super funds. Four customers of AustralianSuper lost a combined total of $500,000. In a report published on Tuesday, KPMG says meeting the growing expectations of customer service from members would be a key focus for funds, while they also grappled with higher operating costs. The KPMG report, which analysed data from the Australian Prudential Regulation Authority, shows per-member operating costs across the industry increased from $230 to $237 in the 2023-24 financial year. Loading Head of asset and wealth management at KPMG, Linda Elkins, said that with costs creeping up, super funds needed to manage their spending while continuing to improve customer experience and mitigating risks like cyberattacks. Super funds have been consolidating through a series of mergers in recent years, and Elkins said one way for funds to deal with the extra costs was by joining forces.
The Age
19-05-2025
- Business
- The Age
Our super funds are good at making money but face a rising challenge
Superannuation funds will need to keep getting bigger through mergers, says KPMG, as the $4.2 trillion sector tackles rising costs, and a run of high-profile incidents revealed gaps in the services provided to members. While Australia's super funds continue to grow, and latest fund returns have been solid, the past year has been a rocky one for the sector. Some notable funds were rocked by landmark court cases from the corporate watchdog and five came under major cyberattacks. In November, the Australian Securities and Investments Commission launched court proceedings against Cbus Super for delays in failing to process death and disability insurance claims, which cost their members $20 million. Then in March, ASIC released a damning report on industry-wide failures to process death and disability benefit claims after it sued AustralianSuper for failing to process close to 7000 death insurance claims earlier the same month. The challenging year for the industry continued in April when thousands of Australians' accounts were accessed in a cyberattack on five super funds. Four customers of AustralianSuper lost a combined total of $500,000. In a report published on Tuesday, KPMG says meeting the growing expectations of customer service from members would be a key focus for funds, while they also grappled with higher operating costs. The KPMG report, which analysed data from the Australian Prudential Regulation Authority, shows per-member operating costs across the industry increased from $230 to $237 in the 2023-24 financial year. Loading Head of asset and wealth management at KPMG, Linda Elkins, said that with costs creeping up, super funds needed to manage their spending while continuing to improve customer experience and mitigating risks like cyberattacks. Super funds have been consolidating through a series of mergers in recent years, and Elkins said one way for funds to deal with the extra costs was by joining forces.
