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New reports outline Australian fintech strengths and opportunities

FinTech Australia today welcomed two new reports covering consumer payment methods and venture capital investment which illustrate the underlying strength of the nation’s fintech industry and further opportunities for growth.

On 25 July, the Reserve Bank of Australia released a discussion paper on consumer payment methods while on the same day CB Insights released a report which benchmarked fintech venture capital investment across the world. Read more

Sydney and Melbourne startup hubs will be an international boost for Australian fintech

Sydney’s proposed new 11-floor startup hub – set to be the largest in the southern hemisphere – should help build even stronger links between the Australian fintech industry and global markets, FinTech Australia said today.

FinTech Australia CEO Danielle Szetho welcomed the news that Jobs for NSW would invest $35 million into the facility, which will create up to 6,500 jobs and contain enough floor space to spread over the size of two football fields. Read more

Updates to skilled migration visa occupation lists

As many FinTech Australia members would be aware, the Australian Government’s decision to severely restrict the use of skilled migration visas (previously the 457 Visa) in April caused an uproar in the tech community, particularly given the decision exacerbated existing skills shortages.

Since that time, we have been working closely with StartupAUS and TechSydney to lobby the government on behalf of the tech community. This culminated in the lodgement of a joint submission to the government on 21 June. Read more

FinTech Australia joins campaign to stamp out sexual harassment

As some members may have seen, there has been widespread reporting in the last week about repulsive sexual harassment activities by US startup leaders.

Following this, tech community leader Annie Parker put together a statement which pledges a zero tolerance approach to sexual harassment. This statement has the support of many individuals and organisations in the tech community, including FinTech Australia’s team and board.

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Australia becomes world leader in fintech adoption

FinTech Australia today welcomed a major report which shows that Australia has among the best fintech market penetration in the world, ahead of other advanced markets such as Hong Kong, Singapore and the United States.

The EY FinTech Adoption Index shows that Australia is now ranked fifth highest out of 20 surveyed markets for fintech consumer adoption. Read more

Fintech small business lenders support research survey

New research will aim to establish current trends and best practice in the growing fintech lending market to small and medium-size enterprises (SME).

Fintech small business lenders will be surveyed as part of a collaborative research project by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) with industry organisation FinTech Australia and independent SME finance expert Neil Slonim from the BankDoctor.org.

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FinTech Australia releases fintech ecosystem map

Australia’s fintech industry body today released its first member ecosystem map, which helps build domestic and international understanding of the nation’s fintech strengths and diversity, particularly in wealth generation and lending.

The map lists 119 members of FinTech Australia, along with the nation’s key financial services regulators.

“The map is arguably the best visual representation yet of our fintech industry, which is the largest startup sub-sector in Australia according to the most recent Startup Muster survey,” said FinTech Australia CEO Danielle Szetho.

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