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Data Action Australia

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Australia

Founded in

1986 (39 Years)

Founded

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1.67

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Security Information

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    What are the differences in regulations for each

    License

    A Grade License

    Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

    B Grade License

    Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

    C Grade License

    Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

    D Grade License

    From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

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    Company Information

    Get to know Data Action Australia

    Incorporated in 1986 as a co-operative by Australian Central, CPS, PowerState, Fire Service and Satisfac Credit Unions, DA had a vision of becoming the preferred and exclusive technology partner of the customer owned financial services industry. Based in Adelaide and servicing companies Nationwide, they have since managed to take on a growing client base and establish themselves as an industry leader. In 1989 they acquired their own version of software to support and develop for SA and NT Credit Unions, then in 1997 they purchased the Phoenix Core Banking System from the US. In 2011 they rebranded Phoenix to DA CBS subsequent to purchasing the intellectual property rights and selling rights in Australia and New Zealand. In 2013, Karl Grant joined the team as their CEO and proceeded to lead their transformation through his reinvigoration and introduction of their ‘Technology Roadmap’ as well as their client relationship management function. Both initiatives have proved to be successful amongst their clients. Through their clients, they are proud to be dealing with over 1 million banking customers and 25 billion in client assets, operating across 700 servers. They are currently operating from modern City offices in the heart of Adelaide with over 150 staff members, with some design and support staff based in Sydney and Brisbane. They look ahead to a promising future as they continue to provide excellent technology solutions while they work on their growth agenda.

    Industry

    • Financial BankingPRIMARY
    • Financial Other Service

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