Blog

Direct Debits - “With great power comes great responsibility” Whether it was Voltaire or Spiderman’s Uncle Ben who is best known for this phrase does not matter – the phrase is however pertinent when it comes to the topic of direct debits. Being entrusted to pull money from a client’s bank account is no small thing! The underlying basis for direct debit transactions is trust. When a client enters into a direct debit arrangement with a service...

Hot off the press! FeeSynergy is proud to announce it has partnered with Westpac. This partnership stems from both organisations working together over the last few years to bring innovative, low cost, transactional banking services to FeeSynergy’s accounting and legal clients. We started working closely with Westpac 4 years ago in the development of the FeeSynergy payment gateway. The FeeSynergy payment gateway was designed specifically for accounting and legal firms and is powered by Westpac’s PayWay solution....

Dan Beck | Director | PT 2.0 As we come into a new financial year, one of the biggest chores a lot of firms go through is cleaning up their client database.  Nobody likes it, it takes too long and it’s inconsistent - but what if it didn’t have to be? We live in a data-fuelled world and work in a data-driven industry, and there is no surprise that a lot of the innovations that have arisen...

As a fintech, FeeSynergy takes the matter of data security very seriously. In an ever-expanding universe of cloud-based apps, choosing the right ones to buy can be bewildering. Our view is that buyers should start with the matter of security. If the potential app does not meet an acceptable level of security (as judged by a security specialist) then give it a miss and look for an alternative. We invited leading information security expert Mark Hofman,...

Many commercial contracts contain clauses which entitle a party to terminate the contract or exercise other contractual rights where the counterparty suffers an insolvency event (such as the appointment of a voluntary administrator or receiver or the entry into a scheme of arrangement with creditors). That is, by the mere fact itself (“ipso facto”) that an insolvency event is suffered will usually enable the other party to terminate. As of 1 July 2018, the Treasury Laws...

The Personal Property Securities Act 2009 (Cth) (PPSA) established a register for recording security interests held by creditors over certain types of personal property of debtors. The register, known as the Personal Property Securities Register (PPSR), may, for a trading company debtor, contain many registrations of security interests created by creditors, such as financiers and suppliers of goods and services on credit. However, a debtor having many security interests registered over it may unnecessarily risk portraying...