Australian fintechs boosted by enablers
Australia is holding its own in a global fintech sector led by disruptors, yet cooperation with enablers across banking, insurance and accounting should remain front of mind, according to KPMG and H2 Ventures.
KPMG global co-lead, Ian Pollari said the importance of fintech start-ups building and maintaining relationships within the banking, accounting and insurance sectors was an important takeaway for Australia in this year’s KPMG/H2 Ventures Top 100 fintech report.
Released today, findings showed no Australia fintech made the top 10 list of global firms, which was topped again by Chinese tech stronghold, Ant Financial.
“The importance of ‘enablers’ – companies working in cooperation with financial services institutions to steadily improve products and services – has remained steady,” Pollari said.
“Globally, disruptive fintech companies continue to dominate, representing strong interest from investors in business models and management teams that are seeking to radically change the industry paradigm.”
Total capital raised, rate of capital raising, geographic diversity and sector diversity were the main factors considered within KPMG/H2 Ventures’ selection process.
Top 10 fintech companies:
|
Ant Financial |
China |
|
ZhongAn |
China |
|
Qudian (Qufenqi) |
China |
|
Oscar |
US |
|
Avant |
US |
|
Lufax |
China |
|
Kreditech |
Germany |
|
Atom Bank |
UK |
|
JD Finance |
China |
|
Kabbage |
US |
AUTHOR
Hope William-Smith
Recommended for you
Legal profession-focused super fund legalsuper has partnered with Link Group to launch a cloud-based digital platform.
The number of investments being made online has fallen significantly amid the market downturn and the threat of rising inflation and interest rates.
Fintechs will now have a regulatory sandbox that will allow them to test new products and services for 24 months without obtaining a financial services or credit licence.
Publicly-listed platform provider Netwealth has continued to assert its leadership – this time in terms of digital wealth applications.
