We are creating some awesome events for you. Kindly bear with us.

Investment in Australia’s FinTech industry reaches a new high

Investment in Australia’s FinTech industry reaches a new high

An independent survey released last week shows that Australia has achieved world-leading growth in its FinTech industry. This offers proof that recent actions undertaken by the Turnbull Government to attract investment in innovative financial services technologies have been worthwhile.

Investment in Australia’s FinTech industry hit a new high in 2016, with US$656 million invested across 25 deals, according to analysis by KPMG released on 21 February 2017.

This reflects an annual average growth rate of around 90 percent over the four years to 2016.

Australia did well to attract the additional investment in 2016 against the backdrop of global weakness. Analysis shows a 47 percent slide in FinTech investment globally to US$24.7 billion.

The Turnbull Government is keenly aware that the financial services sector plays a critical role in the Australian economy.

In his testimony to the House of Representatives Standing Committee on Economics last week, the Governor of the Reserve Bank of Australia, Dr. Philip Lowe highlighted the important role that FinTech can play in promoting efficiency, competition and improved customer experiences.

The Government welcomes Governor Lowe’s comments that the Payment Systems Board has discussed the opportunities that distributed ledger technology (sometimes referred to as block-chain) could offer in the payments system and in financial market infrastructures.

The Hon Scott Morrison MP, Treasurer of the Commonwealth of Australia, announced in February 2016  the establishment of a FinTech Advisory Group which he engaged with regularly throughout 2016 on issues important to the industry.

The Advisory Group has already made some real progress, advising on the introduction of measures such as: the CSIRO Data61 review of opportunities for distributed ledger technology (block-chain); the Productivity Commission’s examination of ways to improve data availability and use, the introduction of a regulatory sandbox to support new entrants testing their financial services offerings and the extension of venture capital tax concessions for early-stage investment to start-up FinTech.

Whilst these measures have been successful and well received by industry, the Turnbull Government continues its FinTech agenda by commencing work on an enhanced package of further reforms to be released and implemented this year.

The Turnbull Government has announced its intention to stop the ‘double taxation’ of digital currencies under the GST regime and the development of legislation to extend the crowd-sourced equity funding framework to private companies.

Financial technology – or FinTech – is transforming Australia’s financial system and potentially the entire economy.

The Turnbull Government is committed to ensuring Australia is at the forefront of the global FinTech industry so that we can drive improvements and enable more beneficial financial services for Australian consumers as well as help to positively transition the country's economy.

The Government’s FinTech statement, ‘Backing Australian FinTech’ was released last year and is available at the Fintech website

Read the media release here.


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend