Key points
- ASIC is developing a new digital portal for licensing, which includes applying, varying, and cancelling an Australian financial services (AFS) licence. A limited, invitation-only pilot launch opened on 12 August 2024.
- The modernisation simplifies the experience of AFS licence applicants and is more streamlined and user-friendly. All AFS licensees and applicants will transition to the new AFSL Portal in the first quarter of 2025.
ASIC is piloting a new digital portal for licensing, which includes the ability to apply for, maintain, and vary AFS licences.
The new AFS licence portal simplifies and streamlines the digital application experience. It provides a user-friendly and streamlined experience by pre-filling information already known to ASIC, and only presenting questions relevant to each applicant’s application.
What’s changing and when
A pilot involving a limited number of new AFSL applications commenced on 12 August 2024.
During the pilot phase, all other AFS licence applicants will continue using the existing eBusiness licensee portal to apply for, maintain, and vary their licence.
ASIC is using the pilot as an opportunity to take on board any feedback to make continuous improvements to the AFSL application process and transaction flows before we go live for all AFS licence applications, scheduled for the first quarter of 2025.
A digitally enabled and data-informed regulator by 2030
The AFS licence project is a part of the wider digital transformation ASIC is making towards becoming a more efficient and data-informed regulator.
ASIC’s objective is to provide a single digital front door, which offers a convenient and intuitive entry point for all stakeholders, including regulated entities and consumers in their digital interactions with ASIC.
ASIC is delivering secure, sustainable, and scalable systems and processes, that will enable us to better serve our stakeholders. We are a data-informed regulator and advocate for innovation across the financial sector. We are continuing to explore new services, sharing information and assets to increase regulatory compliance and reduce harm.
ASIC is Australia’s corporate, markets and financial services regulator.
