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EY FinTech
Australia Census
2017
Profiling and defining the
fintech sector
FinTech Australia
EY FinTech Australia Census 2017 | 1
Introduction About the research The Australian fintech landscape Drivers of success Future focus Contact us
Contents
5 Introduction
12 Drivers of success
22 Future focus
27 Contact us
Over the last year, the Australian fintech industry has matured
Post-revenue fintechs Key business challenges decreasing Future outlook
A greater proportion are now post revenue Suitability of systems and viability of business More fintechs are looking to expand overseas in
models are less likely to be internal impediments the next 12 months
2017
2016 2017
Business model
viability 37% 25% Top 6 markets for potential expansion (excl. dont know)
Singapore 40%
Median revenue growth (post revenue companies)
Year on year post revenue growth has been substantial United States 38%
1% to 100% 20%
24%
208% June 2017 vs.
June 2016
>700%
30% 23%
Wealth and Lending Paying customers Company 71% 29%
investment Top 2 approaches to talent recruitment
stage: Post- Pre
revenue revenue
No. paying
Founders/ employees/ 39%
personal contacts customers 5% 21% 21% 24% 29%
(post revenue)
End customer profile Globally competitive
Recruitment agencies 17%
None 1 to 10 11 to 50 51 to 500 >500
55% only
B2C
25%
Retail consumers 45% 63%
Sophisticated investors 22% agree Australian fintech companies
will be able to compete
Both Relationship with incumbents Median fintech post revenue growth internationally
30%
Banks and other FSIs 43%
40% 45%
only
B2B
SME and other start-ups
Corporate
35%
33%
nominate building partnerships with 208% agree Australian fintechs will be
41% banks and other financial institutions June 2017 vs. June 2016 able to win against international
71% Government as a key external challenge fintechs
14%
Introduction
FinTech Australia
Welcome to the second EY FinTech Australia Census 2017. The fintech sector is evolving rapidly in Australia and
FinTech Australia has continued its successful collaboration with around the world. EY is committed to working with
Ernst & Young Services Pty Ltd (EY) and Ernst & Young Services fintechs, investors, regulators, governments, education
No.2 Pty Ltd (EY Sweeney) to deliver this important piece of institutions and accelerators/hubs to help the industry
research. This Census remains the most detailed and broad realise its potential. An important part of our
analysis of the Australian fintech ecosystem and at initial release commitment has been to deliver comprehensive,
in 2016, was the first census of its type globally. focussed and prescient thought leadership to help define
the industry, identify the challenges and cast light on the
This research initiative forms a critical part of FinTech Australias way forward.
efforts to foster a thriving fintech ecosystem. Australias fintech
industry is continuing to grow and is increasingly becoming the For the second year, the EY FinTech Australia Census
first choice for businesses and consumers when they are provides an exciting contribution to this commitment and
selecting a financial service. recognises the strong global connection within EY
supporting the Fintech industry. It is essential research
The Census gives us hard data and credible insights to back our conducted with the Australian fintech community by EY
advocacy work to drive the industrys ongoing expansion. This Sweeney. It delivers a powerful fact base, combined with
years Census delivers new insights into key industry issues, broader insight to inform and inspire those involved with
including how we increase female participation, encourage the sector.
international expansion and remove barriers to growth.
We are proud to be collaborating with FinTech Australia
This report is also arguably the best source document to define on this significant initiative and pleased to be able to
the overall shape of Australias fintech industry and how we share the findings.
differ to overseas markets. It gives us fine-grain detail about the
established and emerging sub-sectors within fintech and helps Rowan Macdonald, Partner Financial Services, Ernst & Young
track the industrys increasing maturity in terms of company size Services Pty Ltd, Australia
and revenue. Meredith Angwin, Partner Financial Services, Ernst & Young
Services Pty Ltd, Australia
We hope you enjoy reading the Census and learning about the
dynamic fintech industry we have here in Australia.
3 4
the knowledge/experience of EY Sweeney, EY was Vox-pops:
commissioned to conduct a census of fintechs in Australia
Other EY fintech reports
16 interviews
over the last two years. A broad research program was
set in place in collaboration with a FinTech Australia Short interviews at Melbourne and Sydney hubs In particular, three EY reports have been referenced in
this Census report and the microsite:
steering committee. The research was conducted Conducted with fintech leaders
between August and September, 2017. The Fintech Adoption Index 2017
Interview quotes are on the EY FinTech Australia
Census 2017 microsite EY UK Fintech Census 2017
This report presents the key findings and it will act as a UK FinTech: On The Cutting Edge An Evaluation of
powerful platform for FinTech Australia when engaging the International Fintech sector 2016
with members, stakeholders, commercial partners,
regulators and government departments.
The Australian
fintech landscape
Overseas
2%
NT
0% QLD
12% 36% 29% 27% 7% 5 2
WA Incumbents Other fintechs Overseas Other
9% SA in Australia fintechs with Full-time Part-time
4% with a similar a similar
NSW offering offering
54%
VIC
19% Type of fintech (multiple response) End customers (multiple response excl. dont know)
EY
EY FinTech
FinTechAustralia
AustraliaCensus
Census 2017
2017 | 9
Introduction About the research The
The Australian
Australian fintech landscape
landscape Drivers of success Future focus Contact us
Drivers of success
Drivers of success
Commercial success is the holy grail for fintech
organisations, with all aspiring to have a major impact in
The 5 drivers of fintech success
the specific segment of the financial services market in
which they operate. Alongside profiling the fintech sector
in Australia, a key area of focus was identifying the main
factors that will underpin success for a fintech and the 1 Talent
challenges potentially confronting fintech leaders.
1 EY: UK FinTech On The Cutting Edge February 2016 EY FinTech Australia Census 2017 | 13
Introduction About the research The Australian fintech landscape Drivers
Drivers of success
success Future focus Contact us
1 Talent
*Note this finding is based on a new question added to the Census in 2017 EY FinTech Australia Census 2017 | 14
Introduction About the research The Australian fintech landscape Drivers
Drivers of success
success Future focus Contact us
Average 1
CEO 55%
83% of Yes
fintechs have 40 founder
all male yrs age at
inception
57% Head of 2a
functional area
16%
founders
3
CTO
7%
4
Support role 2%
Highest level of education (fintech founders/CEOs) Number of start-ups founded/started by
fintech founders/CEOs
5
Other 5%
54% 32%
Post graduate Undergraduate
average
10% 4% 2.1
High school Vocational
certificate
40%
36%
Work status
96% 2% 20%
2% 1% 5%
Work on
casual basis
Studying
part-time 0 1 2 3+
EY
EY FinTech
FinTechAustralia
AustraliaCensus
Census 2017
2017 | 15
Introduction About the research The Australian fintech landscape Drivers
Drivers of success
success Future focus Contact us
2 Capital
Capital is the lifeblood of start-up fintechs and a raised $5.2m of capital to date in comparison
fundamental key to success is the ability to raise funds younger fintechs aged one year or less have raised the lack of cash flow gave us an opportunity to learn
and then manage burn rate each month. A number of on average $2.1m of capital to date. how to prioritise business resource and stay creative to
points can be made about both the access to capital and make the most use of the limited cash flow; we have
Private funding dominates As was seen in 2016,
the management of expenditure of the funds. been constantly thinking about how to educate and
most fintechs in Australia have received some
accelerate our partners to set up quickly and acquire
Shallow but growing pool in Australia... The funding private funding (72%). Six in ten (57%) accessed
customers.
of start-ups is a challenging and complex issue as some commercial funding and on average have
they need phases of capital stretching over many raised $4.2m in capital; this is greater than the
years. Venture capitalists want early stage uncapped average amount of $2.2m raised by fintechs that Joel Ramirez, Co-founder & General Manager,
Financials for Office 365
upside and various profiles of yield. Feedback from exclusively accessed private funding.
the in-depth interviews with fintech leaders suggests
Realising profit One in seven fintechs stated that
that the capital situation has been improving with
they are currently profitable. Of those that have not
more inflows of venture capital coming from within
started to realise profit, their current burn rate is on
and outside Australia.
average $115k a month. This is an increase in what
Mixed capital raising success Although was seen last year where the burn rate was $84k
successfully funded fintechs outnumber those that month.
fail to raise capital or couldnt raise what they
Managing burn rate Average burn rates are
desired, this doesnt account for organisations that
particularly high among fintechs that have received
may not be in existence anymore. Views in this
Census were primarily collected from fintechs that
funding and scaling up their business, with the
increased burn rate reflecting the maturing of
14% 39%
remain in existence so there is a skew to fintechs of fintechs are currently Had their expectations of
Australian fintechs. While nearly 30% of fintechs profitable capital raising experience met
that were successful in their capital raising. Fintechs
have a monthly burn rate in excess of $100k, the
that have accessed commercial funding are more
majority of these businesses are skewed towards
likely to have raised the amount of capital required.
having raised in excess of $10m in capital to date
Solid averages Of those fintechs that indicated (i.e. larger, more funded fintechs). For this segment,
they have successfully raised capital to date, on
average each has raised $4.1m. This is an increase
the remaining runway is typically more than a year,
but there is still a sizeable proportion (37%) that only 72% 57%
on what was seen in 2016 ($3.9m raised) and is have up to a year before the cash reserves dry up. Private Commercial
funding funding
indicative of a maturing industry. Fintechs in
existence for more than three years have on average
3 Demand
At the heart of any start-up or new venture is the ability Cost of customer acquisition and retention While
to identify a gap in the market - a latent need that can be EYs research shows the rapidly growing usage of There are those who believe that fintechs struggle to
met by delivering a compelling offering. However the fintechs, one of the core external challenges for translate the innovation and great customer experience
gaps arent always obvious and the solution needs to be organisations operating in Australia is the cost of that they create into real customer adoption. The EY
seen as genuine and positively differentiated in the customer acquisition. This was cited as a challenge FinTech Adoption Index suggests that thinking is now
market. by one in two fintechs surveyed. outdated. Fintechs are not only becoming significant
players in the financial services industry, but are also
The key insights from the Census and some broader In terms of demand profile, Australia is ranked fifth out shaping its future.
global research conducted by EY are of 20 markets around the globe; with some of the key
Fintech Adoption continues to grow EY recently observations being Imran Gulamhuseinwala,
EY Global FinTech Leader
conducted a large scale consumer study across 20 Tech-savvy younger generations are high adopters of
countries exploring the level of fintech adoption. fintech, particularly of money transfer and payments
China dominates the global landscape, with adoption services, however older generations also
still comparatively high in Australia (37%) and it has demonstrate high acceptance of such services.
tripled over the past two years (13% adoption in Congratulations to the small businesses of Australia. Pin
Australia in 2015). Australia is the fourth most developed money Payments has received enthusiastic support for our
transfers and payments market, and the sixth most payment solutions, even whilst being a relatively new
A more diverse profile The fintech industry in developed insurance Fintech market. brand to the space. Our customers recognise how we're
Australia is maturing and broadening. There is now trying to help their day-to-day, and in return are patient
greater collaboration into other sectors (e.g. Agtech) Overall Fintech adoption in Australia is expected to
and generous with their feedback. So from our
and an improving working relationship with the increase in the next 12 months from 37% to 43%.
perspective, Australia is a great market to launch a
incumbent/traditional players in the financial While adoption will continue to increase amongst fintech business in.
services industry. young adults, usage is expected to increase amongst
Solution-centric The majority of fintechs believe older generations who are warming to idea of
Chris Dahl, Director,
that the key reason that consumers or businesses conducting financial transactions digitally.
Sales & Growth at Pin Payments
access their products/services revolves around
offering more effective solutions to their customers.
Having a seamless user experience is also
fundamental, coming in second on the list of areas to
focus.
42
37
32 33
29
23
18 17
13 15 14
8
Notes: The figures show adoption rates per market for the six markets for which a comparison is available.
All figures are shown in percentages.
4 Policy Open data is a big thing for us. As we are a company that
tries to get the banks to price risk better, more real
insights into the data we have the better we would be
Policy, regulation and broader government support are 85% of fintechs said that Government mandated open able to help. There is a growing community which
fundamental dimensions in creating a healthy and data protocols would be an effective initiative to grow requires a lot more conversation around what data is
sustainable fintech ecosystem. There is a need for policy and promote the industry up from 76% last year. available and suitable, as well as a lot more collaboration
momentum to be maintained and for there to be a to make sure that the solution most beneficial to
proactive fintech agenda at all levels of government. We New payments platform Most fintechs (82%) believe consumers can be found.
that providing more transparent access points for
explored a wide range of potential growth initiatives and
those considered most effective in the eyes of Australian fintechs to connect to the New Payments Platform is one
of the top effective industry growth initiatives; this Ranin Mendis, Founder & CEO
fintech start-ups are listed below. Loan Dolphin
reveals that fintechs are unconvinced about the ease of
access to this infrastructure.
Tax tops the list
Nine in ten (87%) participants agree that the top Licensing / sandboxes One of our biggest challenges today is to effectively
effective growth initiative is to make the research and engage and collaborate with the Government to
development tax incentive more accessible to start-ups, As fintech start-ups move forward with their technology
springboard Australian innovation. We do believe
solution, ASIC licences are an important part of a go to
followed closely by providing Capital gains tax relief for partnering with the government is necessary but finding
tech start-ups first incorporated in Australia (85% market strategy.
the best approach for proof of concepts is still a work in
effective). Founders interviewed are quite positive about Licence uptake Six in ten (62%) fintechs surveyed do progress.
the level of tax incentive support provided in the past 12 not currently have one of the three key ASIC licences
months and would like this to increase. (financial services licence, credit license or market Joanne Cooper, Founder & MD
infrastructure licence). ID Exchange
Access to open bank data
Regulatory sandboxes Over the last 12 months, ASIC
With open banking being under independent review in expressed a desire to strike an appropriate balance Licenses
September 2017, the anticipation of positive between encouraging innovation whilst providing an
recommendations for the setup of an open banking appropriate regulatory framework for the Australian ASIC financial 32%
services license 16%
regime in Australia is palpable. fintech industry. At the end of 2016, ASIC launched the
regulatory sandbox framework which provides fintechs 11%
Customer acquisition There is strong recognition that ASIC Credit License
with limited freedom to operate within set guidelines 6%
without open bank data, fintech start-ups will continue to
while their product solution is in development. The ASIC Market 1%
face much greater customer acquisition costs. Access to infrastructure license 2%
Census data indicates that only 1% of Australian fintechs
consumer data protected within this system would
currently use an ASIC regulatory sandbox, however, a 1% Currently have
enable them to more easily identify attractive customer Banking license
further 9% intend to use this in the next 12 months. 2% Looking to aquire
segments and the likely demand for particular products.
6 EY: UK FinTech On The Cutting Edge February 2016 EY FinTech Australia Census 2017 | 19
Introduction About the research The Australian fintech landscape Drivers
Drivers of success
success Future focus Contact us
Government mandated open data protocols 51% 34% 11% 4% 85% 76%
EY
EY FinTech
FinTechAustralia
AustraliaCensus
Census 2017
2017 | 20
Introduction About the research The Australian fintech landscape Drivers
Drivers of success
success Future focus Contact us
5 Environment
Future focus
Revenue decline 6%
1% to 100% 20%
The challenges confronting any start-up in any industry agreed that Australian fintech organisations will be 101% to 300% 24%
are recognised as being profound and it was a able to win against international peers.
sentiment that echoed through our interviews with 301% to 700% 14%
Local competition There are mixed views on the
fintech industry leaders. They spoke of the wide range
perceived quality of domestically based >700% 24%
of potential challenges that can emerge on the journey
organisations (34% agreed that there is a lack of
to having true market impact and that they cant all be Base: Companies in post-revenue stage excluding prefer not to say
quality fintechs in Australia; while 38% disagreed).
overcome by the passion and focus of the team. (n=49)
However, what has emerged in the study is that there is
There is a positive outlook in the industry, founded on a
deep self-belief and a bullish outlook prevailing in the
belief that there is a competitive advantage for Median post revenue growth
industry.
Australia fintechs. The three key elements of this
Among post revenue fintechs, year on year revenue potential competitive advantage are considered to be
208%
growth is substantial. Fintechs indicated median growth Regulatory environment Australias sophisticated
of 208% on their revenue in June 2016, driven by and trusted regulation of financial services provides
a cohort of 24% of fintechs that have experienced a solid foundation for the development of solutions. June 2017 vs.
growth in excess of 700%. Higher growth rates are also June 2016
experienced by fintechs under three years in existence, Advanced financial services industry Australias
starting from their lower bases. Revenue growth advanced financial services and wealth management
stabilises somewhat once fintechs generate in excess of sector delivers both commercial experience and
$100k revenue a month (127% growth rate on June creates opportunities.
2016).
Access to Asia Australia is a good starting point to
The disruption of financial services is most likely to come
develop their export solutions particularly in the
The assured outlook is further emphasised when we from digital giants from developing markets such as China
Asia Pacific region and proximity to capital sources
look at perceptions around the relative competitiveness or even those technology giants from the US who are
from major Asian centres such as China.
of fintechs in Australia extending their platform dominance into financial
services. In the face of this, many local fintech start-ups
Internationally competitive Two thirds (63%) of are likely to be acquired by either global players or local
fintechs agreed that Australian fintechs will be able incumbents and should be preparing for that possibility by
to compete internationally. Forty-five percent keeping in close contact with potential acquirers.
Future outlook
Expand/expand
2016 2017
further overseas 38% 54%
Global reach
Each major fintech centre around the world has its own the next 12 months; this has increased from 38% to 54%
unique dynamics creating both opportunities and of fintechs this year. Among the fintechs that are Start-ups know that expanding beyond Australias
borders will lead to a significant increase in customers
boundaries for those domiciled in each location. These looking to expand, the top three markets for expansion
and investors, which is why they believe they need to
are defined and influenced by a wide range of factors are the United Kingdom (49%), Singapore (40%) and the
solve problems for people globally. It takes a creative
that predominately revolve around the five ecosystem United States (38%).
idea and solution, but it also requires effective strategic
pillars. Some fintechs operate within these parameters,
execution of the idea, along with a global network and
seeing themselves as more domestic or regionally From the Australian fintechs who have already ventured
community to help tap into local regulatory knowledge.
oriented solutions, others have international aspirations beyond our shores, their advice is consistent;
(if not current presence).
Danielle Szetho , CEO
Dont go it alone, you need to form trusted
FinTech Australia
The Australian landscape is acknowledged as unique, as partnerships in your target markets and
many of the fintechs operating here need to do so within
work with those who understand the
a heavily regulated environment. They also have the Incumbent institutions struggle to imagine the rules are
challenges relating to talent, capital, demand, policy and cultural and consumer norms.
changing and their old business models are not
environment. sustainable. To keep up with the shift, they need to quickly
Dont underestimate the licencing find new value chains that are inclusive of the customer.
These constraints are real and need to be recognised, challenges in each and every market; be This will be vital to their political and financial future.
but it was also interesting that several leading industry
prepared for this to take considerable
commentators felt the Australian fintechs could be more
time, patience and resources. Katryna Dow, Founder & CEO
globally ambitious. This was not intended as a criticism Meeco
per se, more a recognition of the calibre of the
proposition and the potential to cross borders. It was felt Among fintechs that are not considering
that other international hubs, like the UK, are perhaps expanding/expanding further overseas reasons include I am delighted to see the increase in Australian fintech
more geared to driving globally-scaled disruptive business plan is currently focusing on the local market firms that are setting global goals for their businesses.
innovation. Its a point that will no doubt provoke growth (67%), followed by lack of time to investigate More than half are now focused on expanding overseas
considerable discussion and debate and that is, in itself, potential overseas markets (22%). in the next year. Supporting these creative start-ups is a
important for the industry. major focus of Austrade, especially through our Landing
Pads program in five global innovation hubs, which is
Regardless of the perception and the belief that some already propelling many clever Australian businesses to
fintechs could be more globally assertive, there is new heights.
significant pending focus across borders. More fintechs
are intending to Expand or expand further overseas in Stephanie Fahey, CEO
Austrade
An effective ecosystem
In the fintech sector in Australia, optimism abounds,
however there is an undercurrent of realism in the Australias 600-odd fintechs now employ over 5,000
community and amongst astute observers that tempers people, are growing at over 200% per annum and are
the enthusiasm. There is recognition that while raising serious amounts of capital. Combined with the
Australian start-ups are progressive and agile, to truly strong support from Federal and State governments
succeed they will require significantly more support. and corporate partners, we have now reached a
While there are many strengths, Australia doesn't have tipping point where there is enough maturity in
the financial services scale, capital for investment or Australian fintech to enable a robust eco-system.
tech industry presence of some global peers. In that Were not there yet, but the foundation is built for
context, the need to create the most effective Australia to take a leading regional role in fintech.
ecosystem to foster and support growth is all the more
important.
Stuart Stoyan, Deputy Chair
and FinTech Census Founder
As outlined in this report and supported by broader
FinTech Australia
global EY analysis, the most effective ecosystem is one
that has five pillars talent, capital, demand, policy and
environment. This research plays a pivotal role in
helping to give life to the ecosystem as it not only
profiles and defines the fintech start-ups, but provides
insight into how they are performing and what is
required across each of these dimensions.
Census participants*
Acceleration Venture Catalysts CoinJar FlyFree.ly Map My Plan Peer Estate SmartFee
Advice RegTech Credit Savvy Frollo Meeco Pelikin SocietyOne Holdings Pty Ltd
Adviser Network CrowdfundUP FundingPro Metamako Picture Wealth Pty Ltd Spotcap Australia
Adviser Ratings CXi Software Get a Better Rate MoneyPlace Financial Mappers Study Loans
AgriDigital DigitalX GiftInvestor Moneysoft Plenty Surefire Systems Pty Ltd
AIRSCAPE DirectMoney H2 Ventures Moneytech PractiFI Tappr
Airwallex Douugh Imperium markets Moneytree PrimaryMarkets Tempus Adventus
Apex Capital Partners Ducksoup INAMO Moroku Promis Network Pty Ltd The Change Compass
Astute Wealth Advice Pty Ltd e4 Australia InfraRisk Mosaic Money Pty Ltd Prospa The Currency Shop
Audeamus Risk Edstart Instarem Pty Ltd myadvisor.ai Proviso The Invoice Market
BankVault EFTlab Investment Control Systems MyFiziq Limited Quantifeed ThinCats
BetaSmartz Equitise Investum Neu.Capital QuietGrowth Trade Ledger Pty Ltd
Beyond Merchant Capital Estate Baron InvoiceInterchange New Arenas Capital QxBranch Upcoming Floats
Bigstone Capital Pty Limited Expense Check InvoiceX On Deck Capital Australia Pty Ltd Red Marker Valiant Finance Pty Ltd
Bit Trade Australia Pty Ltd Ezidox Pty Ltd iSignthis Ltd OneCheck Pty Ltd Reinventure Verrency
Bravura Solutions Limited Fabric iungo OnMarket BookBuilds Round Table Apps Waddle
The Brick Exchange Fair Go Finance Jelix Ventures Open Orbit RoyalPay WealthNation
Carrots Money Fin15 Joust Open Sparkz SavR International Payment and
Transaction Monitoring Association
CashRemit Pty Ltd Financial Mappers (Plencore Kikka Capital Optimo Financial Pty Ltd SelfWealth (IPTMA)
Wealth Ltd)
CCFS Likwidity OurMoneyMarket ShareEquity Zip Money
Claim Central Consolidated Finhaus Labs Link4 Australia PayDock Sidekick Industries
Cloud Insurance FirstStep Investments Australia Living Room of Satoshi Paypont Australia Six Park
Cloudcase Software Solutions Flash FX Mafematica Payreq Skippr Cash Flow
* Note Fintech participants listed above specifically provided their permission to be cited in this report
Contact us About EY
EY is a global leader in assurance, tax, transaction and
advisory services. The insights and quality services we
deliver help build trust and confidence in the capital markets
and in economies the world over. We develop outstanding
leaders who team to deliver on our promises to all of our
EY EY Sweeney FinTech Australia stakeholders. In so doing, we play a critical role in building a
better working world for our people, for our clients and for
Rowan Macdonald Marc LHuillier Danielle Szetho our communities.
Partner Financial Services Partner FinTech Australia CEO
EY refers to the global organisation, and may refer to one or
Ernst & Young, Australia Ernst & Young, Australia danielle@fintechaustralia.org.au
more, of the member firms of Ernst & Young Global Limited,
Rowan.macdonald@au.ey.com marc.lhuillier@au.ey.com each of which is a separate legal entity. Ernst & Young
Simon Cant Global Limited, a UK company limited by guarantee, does
not provide services to clients. For more information about
Meredith Angwin Lewis Jones FinTech Australia Chair
our organisation, please visit ey.com.
Partner Financial Services Director - Melbourne simon@reinventure.com.au
Ernst & Young, Australia Ernst & Young, Australia 2017 Ernst & Young, Australia.
All Rights Reserved.
meredith.angwin@au.ey.com lewis.jones@au.ey.com Stuart Stoyan
FinTech Australia Deputy Chair and AU00003155
FinTech Census Founder ED None.
Olivia Willee Aditi Kane
Partner Financial Services Manager stuart.stoyan@moneyplace.com.au This communication provides general information which is current at the
time of production. The information contained in this communication
Ernst & Young, Australia Ernst & Young, Australia does not constitute advice and should not be relied on as such.
Olivia.willee@au.ey.com aditi.kane@au.ey.com Mark Skelsey Professional advice should be sought prior to any action being taken in
reliance on any of the information. EY Sweeney (a trading name of Ernst
FinTech Australia, Director of PR and
& Young) disclaim all responsibility and liability (including, without
Communications limitation, for any direct or indirect or consequential costs, loss or
Marla Heller
mark@fintechaustralia.org.au damage or loss of profits) arising from anything done or omitted to be
Partner Financial Services done by any party in reliance, whether wholly or partially, on any of the
information. Any party that relies on the information does so at its own
Ernst & Young, Australia risk. The views expressed in this article are the views of the author, not
@ausfintech (twitter)
Marla.heller@au.ey.com Ernst & Young. Liability limited by a scheme approved under Professional
http://www.fintechaustralia.org.au Standards Legislation.
eysweeney.com.au