Revenues Surge in the Australian Fintech Sector
Australia is currently experiencing a boom in its fintech industry. Over the past 12 months, the median revenue of the sector has tripled, highlighting the impact that startup fintech firms are having on the traditional financial services sector. An EY run Fintech Census included over 166 fintech companies, finding the 200% annual median revenue jump, also highlighted concerns from Australian firms surrounding government support and talent shortages.
These results closely align with another research report, the 2017 EY FinTech Adoption Index, which in June 2017 found that 37% of Australia’s digitally active population are now fintech users, compared to 13% in 2015.
Read the report and see a range of summary infographics here.