Australia’s FinTech industry body FinTech Australia, released its first member ecosystem map last month. The map is aimed at building a greater worldwide understanding of Australia’s FinTech industry.
The map contains a breakdown of the 119 members of FinTech Australia involved in consumer and business lending, wealth and investment, payment, wallets and wearables (to name a few sectors) as well as the relevant regulators.
The map also shows the overlap between the different sub-sectors and how the different sectors work together as a whole. Interestingly, the map shows the substantial growth already seen in the FinTech industry in recent years particularly in business and consumer lending as well as the wealth and investment sectors.
The map shows many other growing areas of the Australian FinTech ecosystem, including payments, wallets and wearables, insurtech, data aggregators, cybersecurity and Regulatory Technology (RegTech).
FinTech Australia has planned to update the map at least every 6 months. We look forward to the release of the next map which will hopefully demonstrate just how rapidly the FinTech Industry in Australia is growing.
TRAction, a RegTech trade reporting service for OTC Derivatives businesses started by Sophie Gerber (also the director of Sophie Grace) and Quinn Perrott has seen a great amount of growth since its establishment in 2015. TRAction is a member of FinTech Australia and the Australian Financial Markets Association (AFMA) and was also a 2017 Finnies Finalist. To learn more about how TRAction can help your business with its trade reporting, please contact the TRAction team directly.