The ACCC has started its formal consideration of ANZ’s proposed acquisition of Suncorp’s banking business, after receiving the merger authorisation application on Friday. It said the parties have agreed to an extension to the statutory limit of 90 days for assessing an application and it expects to announce its decision by June next year. Former chief information officer at both Westpac and Commonwealth Bank, Bob McKinnon has been appointed chair of “B2B cashflow solutions fintech” Cloudfloat. The company was founded in 2020, providing small businesses with invoice finance on terms of up to 90 days. McKinnon said he was attracted to the company because it has developed a “customer focused servicing model that helps small businesses easily access the working capital assistance they need.”  He is currently a non-executive director of AMP Capital and Sydney Metro. Douugh Ltd, a provider of personal financial management tools, has raised A$1.9 million to fund the Australian launch of its Financial Super App. The company has already launched a similar product in the United States, where it has 97,000 customers and US$32 million of cash deposits. In its initial phase, the local product has an automated micro-investing facility but Douugh has plans to offer “banking and credit services to challenge traditional debit/credit and BNPL offerings in the market”.