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FinTech Australia overhauls its membership structure

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fintech australiafintech australia rebecca schott-guppy

The fintech association wants to grow its membership base and its influence.

National fintech association FinTech Australia has restructured its membership in a bid to open itself up to collaboration from parties aligned to the Australian fintech community. The two new membership categories, International and Friend of FinTech Australia will be offered alongside the membership types which are categorised by a company's size.

"The two new memberships not only allow us to grow our membership base but our influence," said Fintech Australia GM Rebecca Schot-Guppy. "We've had plenty of requests from agencies, support services and corporates who work closely with fintechs to join and be a part of the debate and the community, now we're able to facilitate this."

According to Schot-Guppy, the membership overhaul is a result of several months of consultation work with members of FinTech Australia and the broader fintech and financial services community.

This announcement comes as part of a series of changes for the national fintech association. In February 2019, Schot-Guppy announced a new strategy which would focus on collaboration and partnerships. Three new board members have also been appointed which includes an additional board member in Queensland. Schot-Guppy and a group of board members spent some of the first part of 2019 travelling the country and holding member meet-ups.

"I think some members were really happy to see that high level of board engagement at FinTech Australia," she told Finder.

Now, more companies will be able to engage with FinTech Australia through the new membership categories. The Friend of FinTech Australia membership, priced at $220 p.a., is geared towards those working in industries aligned with fintech. It allows members access to events, news and support of FinTech Australia.

The International membership, now the association's top-tier membership, is a landing pad for overseas companies that want to expand into the local Australian ecosystem. Companies looking to use this membership to expand into Australia will need to pay an annual fee of $3,300.

Fintech companies can join FinTech Australia with the Founding Team membership if they have fewer than 3 employees ($550 p.a.); the Startup membership for between 4 and 30 employees ($1,375 p.a.); or the Scaleup membership for between 30 and 60 employees ($2.750 p.a.).

Schot-Guppy said they want FinTech Australia to provide maximum value to members and this restructure allows them to do so.

"Fintech thrives on collaboration, the more companies and people we can involve the better the ecosystem will be."

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