finder fintech roundup: Expansions, new research and new partnerships
New research was released this week showing the state of fintech in Australia, while market players made a few key announcements.
Stats were the name of the game as the inaugural EY Fintech in Australia Census was released, along with the Productivity Commission's report on data sharing and the World Fintech Report 2017. CommBank and Alipay made an announcement that will benefit Chinese and Australian consumers, while Spotcap has expanded into another market.
9 out of 10 fintech leaders are male
The EY Fintech Australia Census, commissioned by industry association Fintech Australia, revealed that 93% of fintech leaders in Australia are male. This coincided with the announcement of a male-exclusive coworking space in Brisbane.
Productivity puts data control back in consumers' hands
The long-awaited draft report on data availability and usage has not had the exact outcome desired by the fintech community. Rather than recommending the introduction of regulation for open APIs, the Commission said consumers should have full control of their data, including whether or not it's shared with third-party disruptors.
CommBank and Alipay collaborate on payment solutions
The two financial heavyweights – Australia's largest bank and China's leading online payments provider – have announced a new partnership to help Chinese tourists visiting Australia as well as Australian consumers using Alibaba's e-commerce websites.
The fintech revolution is growing by direction is uncertain
The World Fintech Report 2017 has found that fintech has been pushed forward by a "perfect storm" of customer expectations, VC funding, changing technological advances and fewer entry barriers. However, the direction its heading is unclear.
SME lender Spotcap expands to the UK two years after launch
Leading fintech SME lender Spotcap, which already operates in Australia, the Netherlands and Madrid, has announced its expansion into the UK market. The lender also reached a $70 million lending milestone.
Five fintech problems that still need to be addressed in Australia
The EY Fintech Australia Census has identified five key areas that Australia needs to work on to foster its fintech ecosystem.
The finder fintech roundup is a summary of the news in fintech from the past week. Check back every Friday to catch up.