Author - Allison Wallace

1
Weather Bureau IT mining cryptocurrencies?
2
Hacking of digital currency exchange leaves Japanese company footing the bill
3
Better late than never to the FinTech party
4
All in this together: New FinTech partnership in Abu Dhabi
5
European Banking Authority publishes FinTech discussion paper

Weather Bureau IT mining cryptocurrencies?

By Cameron Abbott and Allison Wallace

The Australian Federal Police are investigating two members of the Bureau of Meteorology’s IT team for allegedly running an operation in which they made use of the Bureau’s powerful computers to “mine” cryptocurrencies.

It was revealed late last week that the AFP raided the Bureau’s Melbourne CBD offices on February 28, and questioned the two employees. No charges have been laid, or arrests made. Read More

Hacking of digital currency exchange leaves Japanese company footing the bill

By Cameron Abbott and Allison Wallace

Coincheck – one of Japan’s largest digital currency exchanges – says it will repay hundreds of millions of dollars’ worth of virtual money, after hackers broke into its network, stealing a reporting 58 billion yen (AUD660 million) worth of NEM (a cryptocurrency like Bitcoin).

Hackers broke into the Coincheck network early Friday morning, but it wasn’t discovered until nearly eight and a half hours later. Read More

Better late than never to the FinTech party

By Cameron Abbott and Olivia Coburn

Oracle has finally realised that it wants to hang out with the cool FinTech kids on the block, having recently announced the release of its Oracle Banking Payments application programming interface (API) service.

Oracle’s move recognises the value of offering better ways for its banking clients to collaborate with FinTechs and other third parties.

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All in this together: New FinTech partnership in Abu Dhabi

By Jonathan Lawrence

On 7 August, Abu Dhabi Global Market (ADGM), the International Financial Centre (IFC) in Abu Dhabi, and the Responsible Finance & Investment Foundation (RFI), a think tank for responsible finance, announced their entry into a partnership to help the growth and sustainability of the FinTech ecosystem through financial inclusion and ethical and responsible finance practices.

Both parties said that they would like to encourage entrepreneurship, foster ethical and responsible investments, and highlight opportunities for Islamic-compliant FinTech services and Islamic finance activities for the region and beyond. They will highlight emerging FinTech trends and support the development of innovative Shari’ah-compliant FinTech companies seeking to participate in the Middle East and African markets. The collaboration establishes an open platform for both RFI and ADGM to share expertise and knowledge and they say they will also work closely to enable and assist investors, FinTech entrepreneurs and innovation firms in testing and introducing innovative products, services and solutions. This will take place in the environment of the ADGM Reglab programme, a regulatory laboratory to accelerate FinTech Innovation.

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European Banking Authority publishes FinTech discussion paper

By Rizwan Qayyum

On 4 August 2017, the European Banking Authority (EBA) published a discussion paper on its approach to FinTech. To enable a better understanding and insight into the financial services offered and financial innovations being applied by FinTech firms within the European Union, the EBA undertook a FinTech mapping exercise. The EBA received responses from 22 Member States and two European Economic Area (EEA) states, and the discussion paper outlines the results of its EU-wide mapping exercise, the main financial services provided, regulatory status and proposals on future work on FinTech.

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