 In 2012 Australia's first peer to peer lending platform, SocietyOne, was launched.As of June 2016 the Australian Government has been encouraging the development of financial technology and peer to peer lending startups through its 'regulatory sandbox' program.In New Zealand, peer-to-peer lending became practicable on April 1, 2014, when the relevant provisions of the Financial Markets Conduct Act 2013 came into force.