Supporting Australia’s FinTech sector

  • Joint media release with:

Senator The Hon Jane Hume, Minister for Superannuation, Financial Services and Digital Economy, Minister for Women’s Economic Security

The Morrison Government is supporting Australia’s thriving fintech sector to attract record investment, talent and to create more Australian jobs.

The EY FinTech Australia Census 2021 published today highlights the growing industry employment, rising entrepreneurship, strong overall growth in capital raising and an increasing number of start-ups moving to post-profit.

Minister for Trade, Tourism and Investment Dan Tehan said the Morrison Government was supporting jobs and opportunities in fintech.

“Australia’s proximity to Asia, the Fintech Bridge Agreement with the United Kingdom and our international regulatory agreements make us an attractive destination for foreign investment, which is supporting growth and job creation in Australia’s fintech sector,” Mr Tehan said.

“Our Government is working to establish more robust global digital trade rules, such as a regional digital trade agreement, that will enable Australian businesses to take advantage of exciting new opportunities, increase their resilience along global supply chains, and streamline regulatory processes.

“We have delivered the Australia-Singapore Digital Economy Agreement that sets new global benchmarks for trade rules and paves the way for Australian businesses and consumers to benefit from digital trade and the digitisation of the economy.”

Minister for Superannuation, Financial Services and Digital Economy Jane Hume said Fintech has led the way for Australian innovation, digitisation and of course, an increase of local jobs.

“Leveraging Australia’s unique combination of competitive strengths such as our highly banked population and discerning userbase of early adopters, fintech has become a key and growing export for Australia. Australia has never had a Prime Minister more passionate about fintech, and the Morrison Government is committed to supporting the industry as it grows and thrives.”

The EY FinTech Australia Census is co-funded by Ernst & Young, Australia, FinTech Australia and Austrade. It’s available here.

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