On Saturday, Fintech Australia released a new infographic that revealed more details about the Australian fintech industry’s successes so far this year. This infographic comes just after the organization revealed that Sydney could potentially challenge Singapore as a fintech hub.
The organization shared:
“We’ve prepared this infographic to give you all a snapshot of some of the industry’s significant achievements in the first six months of 2017, along with what’s coming up for the rest of the year and in 2018. Our take is that 2017 has been a year when the Australian fintech industry moved beyond the embryonic stage, and began to seriously penetrate the Australian financial services market. We’re also pleased to observe that a number of important international benchmarking reports showed we were out-performing the rest of the world in two important metrics – capital investment and consumer adoption.”
The organization noted that the infographic’s highlights include:
- KPMG International’s Pulse of FinTech report showing that the Australian fintech industry had a 254% year-on-year increase in capital investment in 2016, versus a global fintech investment decline of 47%.
- The StartUp Muster report showing that fintech was the number one industry sub-sector in Australia targeted by founders and investors in 2016.
- Sydney and Melbourne increasing their ranking in the Global Financial Centres Index, with Sydney now in the world top ten.
- Australia jumping ahead of Hong Kong, Singapore, and the US in the EY FinTech Adoption Index, indicating that fintech is increasingly becoming the first financial services choice for many Australians.
- The Australian Government’s 2017-18 budget including a series of major fintech-friendly announcements, including an expansion of Australia’s fintech regulatory sandbox and a commitment to implement an open financial data regime in 2018.
See the infographic below.
