Fintech

Annual investment in Australian fintech averaged A$3.5 billion from 2019 to 2022 (Source: KPMG, Australian Fintech Survey Report, 2023) (PDF 2 MB). Investors benefit from:

• an enhanced regulatory sandbox, which allows fintech firms to test their products before obtaining a full license
• ongoing reform of regulations for payments, digital assets and open data regulations
• a fast-growing local fintech ecosystem with strong links to venture capital
• a great location for regional headquarters, with established links to Asian markets.

Australia represents an outsized market opportunity for fintech investors. We have a A$10 trillion financial services sector. (Source: Roy Morgan Banking and Finance Report 2022).

Our vibrant fintech market has created hundreds of products that are globally popular. Our strengths include:

• payments technology, including contactless payments
• money management, thanks to our huge, A$4billion managed funds industry
• blockchain; Australia is now a leading creator of blockchain standards
• regtech, thanks to our world-leading regulatory sandbox.

The EY FinTech Australia Census found Australian fintech companies are born global. Around 40% of their business revenue is generated from international markets.

The Australian Government supports development of our fintech industry. This includes brokering international agreements with other financial centres.

• The 2018 UK-Australia FinTech Bridge is an official agreement. It is designed to aid collaboration in fintech development
• The 2022 Australia-Singapore FinTech Bridge. It will aid collaboration and cooperation on financial regulation.

FinTech Australia is the lead industry body for fintech in Australia.

• The Australian Securities and Investment Commission has a world-leading regulatory sandbox. Its purpose is to facilitate financial innovation.
• Australia has a range of skilled worker visa options. They help fintechs employ overseas talent. 
• Austrade helps Australian fintech companies grow in international markets. We also assist with productive foreign direct fintech investment into Australia.