Daniel Knight
@danieljfknight
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Fintech and financial services lawyer (and closet programmer). Partner at K&L Gates
Melbourne, Victoria
Joined January 2011
#ResponsibleLending laws are to be replaced by APRA's prudential lending standards. Opportunity for #fintechs, easing of regulatory burden for #banks and potential risk for #consumers. More reflections -
klgates.com
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Pleased to have been named as finalists in FinTech Australia's 2020 #finnies awards in the support services category. #fintech
linkedin.com
Pleased to have been named as finalists in FinTech Australia's 2020 #finnies awards in the support services category. #fintech
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AUSTRAC has shown again it is capable of extracting significant penalties for #AML breaches. A quirk of our AML laws is that systems failures are treated as separate, per transaction breaches. Whether this accurately reflects cul… https://t.co/q4CBIeP5Ha
lnkd.in
This link will take you to a page that’s not on LinkedIn
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* Is regtech working as intended. Reasonable? Discriminatory? *As regtech tools advance, their use could become mandatory - "reasonable enquiries" might require using the best tools available * Regtech adoption requires cultural change and buy in https://t.co/sqMrou5PQY
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My key takeaways from great session: * Compliance expectations grow (incl broker's new best interests duty). #Regtech enables compliance w/out increased $ * #AI + #CDR, a great opporuntity for new data * Lenders (& @ASICmedia) will need to interrogate the algorithms.
Join ASIC's Regtech responsible lending demonstration webinar tomorrow at 9.30am AEST to see three demonstrators showcase their problem-solving processes and technical solutions live, followed by an industry panel discussion. Register now: https://t.co/IRos7F9H1u
#ASICregtech20
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Looking forward to joining @asicmedia's #regtech panel today on responsible lending.
Join ASIC's Regtech responsible lending demonstration webinar tomorrow at 9.30am AEST to see three demonstrators showcase their problem-solving processes and technical solutions live, followed by an industry panel discussion. Register now: https://t.co/IRos7F9H1u
#ASICregtech20
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#Openbanking APIs went live today, in the first stage of Australia's #CDR rollout. Great opportunity for #fintechs to build innovative consumer tools. But support for intermediary models is clearly needed - accreditation for all fintechs can't be the solution
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Great #fintech discussions. Congratulations to all at Fintech Australia for another quality @IntersektFest
@ausfintech My key takeaway: collaboration, data sharing, UX focus have to be front of mind for anyone in financial services.
Our Melbourne office was busy last week with Intersekt, Fintech Australia's annual conference. We sponsored the VIP dinner and hosted a satellite workshop where partner Daniel Knight led a fascinating discussion about open banking. #fintech #auslaw
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Buy now, pay later! Is it time for compulsory responsible lending checks? Speed and convenience comes at a price, especially for those who struggle to manage debt. @ASIC_media's report examines the state of the sector. #fintech
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'Buy now pay later' options might be convenient, but what's the cost? Household debt is already too high. 'Free' credit is unregulated, so money can be lent w/out consideration of capacity to repay. Senate to examine need for reforms #fintech
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To be known wherever you go....great UX or creepy? #fintech dilemma
How UK police are using #facialrecognition software. Now wouldn't it be great if a bank did same. When you had the unfortunate need to visit it, with some good #AI, it would have half a clue about your circumstances & no repeating basic stuff. But is there a #GDPR question?
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Just before the #RoyalCommission turned its gaze onto life insurance, ASIC (@asicmedia) released its findings of systemic issues. Here, we examine possible reforms #bankingRC
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Passing a "best interests duty" up the product distribution chain. In changes planned before the #royalcommission, fund managers and other product issuers will need to identify each product's target market. Advisers must follow or explain why not.
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The Financial Services Royal Commission according to...me. 4 key themes for reform. https://t.co/e94oKuOhxn
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Mike Smith: "banks shouldn't run VC funds - they're good at debt, not equity" #FinTechVictoria
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Banker speaking = lawyer jokes Lawyer speaking = banker jokes #FinTechVictoria
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@MikeRPSmith says a bank is a tech company. Loses the crowd. #FinTechVictoria
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Wouldn't be a #fintechVictoria event without @alantsen moderating QandA. Look out @TonyJones_qanda #nextmoneyMel
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Still spots left for our AFSL session with @danieljfknight from @KLGates. RSVP here 👇
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