The Australian Government announced today that they will be investing over $33 million in RegTech to save SMEs and farmers millions of dollars and to increase efficiencies.

“RegTech is a game changer in solving compliance and regulatory issues, but this innovative technology will also deliver results for the environment, the economy, farmers and business owners,” says Minister Morton.

Read more here.

The Australian Federal Government has announced that they will be committing $2.8 million over the next 18 months to improving the digital approach and practical processes to legal documentation.

"We want to make it simpler for individuals and businesses to complete legal documents," the Attorney-General said.

Fore more information, click here.

The RegTech Association member CheckboxAI has raised $6.3 million in a pre-Series A funding round led by Tidal Ventures and Sequoia India’s Surge program.

CheckboxAI provides a unique single, no-code platform which automates your processes and service delivery in hours, not months. Read more here.

On Friday 21 January 2022, ASIC announced the RegTech winners of the Business Research and Innovation Initiative (BRII). Congratulations to The RegTech Association member DigitalX Limited, Bedrock AI, Eastern Analytica Pty Ltd, Listcorp. and Pyxta.

Grants of up to $100,000 will be provided to each of the successful SMEs to conduct a feasibility study on the corporate disclosure challenge.

The challenge focuses on developing a technology solution that can aid ASIC in analysing corporate disclosures and other data to identify and assess compliance by listed companies. The requirements include:

• Continuous disclosure (price sensitive disclosure) and other disclosure obligations to the market.
• Financial reporting obligations.
• Prohibition of misleading or deceptive disclosure.
• Prohibition of practices that manipulate the pricing of securities.

Click here to read more.

VoxSmart has formed a Product Advisory Council to strengthen product development across their growing suite of surveillance solutions. Their Capture and Surveillance technology manages an organisations global risk and compliance requirements.

For more information, click here.

Dubber Corporation Limited (ASX: DUB), a leading provider of unified conversational recording and intelligence, was awarded the 2021 RegTech of the Year Award. Their platform enables the live capture of voice, video and chat, and transforms it into data which provides insights to AI.

For more information, click here.

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Australian start-ups and small-to-medium enterprises (SMEs) are being invited to submit innovative digital solutions to red-tape bottlenecks.

Minister for Industry, Energy and Emissions Reduction Angus Taylor, said the grants, being delivered under the Business Research and Innovation Initiative (BRII), would target projects to improve access to information on state and territory occupational licences.

“We are looking for digital disruptors to come up with regtech solutions to improve information sharing for occupational registrations and licences,” Minister Taylor said.

For more information, click here and here.

The Organisation for Economic Co-operation and Development (OECD) has rated Australia a world leader for advancing regulatory coherence across levels of government and for good regulatory practices. 
See the release in full here

Read the full report here. OECD Regulatory Policy Outlook 2021

The RegTech Association member FrankieOne has raised $20 million in a Series A funding round led by AirTree and Greycroft.