Aussie fintech adoption 5th in world

Australia’s fintech adoption rate is ranked fifth in the world, with an adoption rating of 37 per cent – up 24 per cent from two years ago. This puts Australia behind China (69 per cent), India (52 per cent), U.K. (42 per cent) and Brazil (40 per cent), but in front of countries like Germany (35 per cent) and USA (33 per cent).

aussie-fintech-adoption.png

This was one of the key findings from the EY FinTech Australia Census 2017, which profiles and defines the fintech sector.

According to the census report, the Australian fintech industry has matured over the past 12 months and is a sector now with much greater definition and structure.

The report estimates that the number of fintechs operating in Australia is now approaching 600, having more than doubled since 2015.

Key findings to emerge from this year’s census include:

  • A greater proportion of fintechs have been in business for more than three years, pointing to greater stability and resilience.
  • The proportion of Australian fintechs that are now in the post revenue stage has also increased, indicating that their products/service offerings are in demand and filling gaps in the market.
  • What falls under the ‘fintech’ banner is now much broader (e.g. RegTech, cyber/digital security, data analytics) and firms that see themselves as ‘fintech’ are stretching far and wide into other tech industries (e.g. Agtech).

The EY FinTech Australia Census 2017 report notes that the most important determinant of this bourgeoning maturity for B2C firms is the level of receptiveness of the Australian public. The EY Fintech Adoption Index, conducted across 20 markets, saw:

  • The global average for fintech adoption was 33 per cent.
  • Australia ranked fifth with a 37 per cent adoption rating, putting it on par with other developed economies with similar financial systems (such as the U.S. and U.K.).
  • This level of adoption shows that fintech is now at a tipping point where it is poised for mainstream adoption.

The report also found that Australian fintechs were internationally competitive, with two-thirds (63 per cent) of fintechs saying they will be able to compete internationally, while 45 per cent agreed that Australian fintech organisations will be able to ‘win’ against international peers.

However, in terms of local competition, there were mixed views on the perceived quality of domestically based organisations – 34 per cent ‘agreeing’ there was a lack of quality fintechs in Australia, with 38 per cent disagreeing.

Next Events

IMAP's 2025 Advice in Action Conference July 2025

IMAP's Advice in Action Conferences July 2025 Melbourne & Sydney

 2025's Advice in Action presents the essential advice business toolbox for Advisers

Running a successful advice business is both challenging and complicated, and Advice in Action takes an in-depth look at the priorities to have in your tool box.

  • Business optimisation,
  • Emerging advice technology
  • Analysing your practice
  • Pros and cons of in-house portfolios
  • High Net Worth clients
    and more...

When and Where

Melbourne
Tuesday 22nd July 2025 RACV Club

Sydney
Thursday 25th July 2025 - The Paradox Hotel (previously named Raddisson Blu)

The Conferences are each "Legislated CPD Accredited' for 5 hours (approx)

REGISTER BY FRIDAY 4th JULY 2025 FOR EARLY BIRD DISCOUNTS ON REGISTRATION

 

IMAP's 2025 Managed Account Awards 2025

Entries now closed. Finalists to be announced on Monday 4th August

In it's 8th year the IMAP Managed Account Awards recognises excellence, client service, professionalism, and best practice in  the Australian managed account industry.

IMAP encourages boutique and larger licensees, investment providers, and innovators to enter to showcase our industry to investment advisers, their clients and all participants in our industry

Award Categories are:

  • Licensee Managed Account Portfolios (balanced portfolios)
  • Boutique Licensee Managed Account Portfolios( balanced portfolios)
  • Investment Asset Classes (Australian Equities / Australian Equities Small Cap
    International Equities / Multi Asset / Fixed Interest)
  • Responsible Investing Portfolios (balanced portfolios)
  • Retirement Portfolios
  • Innovation in managed accounts

Enquiries to Jenny Phimleut IMAP Program DIrector on  

Contact us

Email

 

Phone
0414 443 236