Australia’s Fintech Events in 2020
Fintech, short for financial technology, is a term that has grown quite popular in recent years, but few people really know all that it entails. At its core, fintech is any technology that improves, automates or optimises the delivery and use of financial services.
Australia’s Fintech Events in 2020
Fintech, short for financial technology, is a term that has grown quite popular in recent years, but few people really know all that it entails. At its core, fintech is any technology that improves, automates or optimises the delivery and use of financial services. Originally, fintech started as a way for traditional financial institutions to have smoother back-end operations. However, in recent years, it has shifted to a more consumer-oriented focus that provides users with education, retail banking, fundraising, and nonprofit and investment management.
Fintech in Australia
Australian fintech has been responsible for a major disruption in traditional banking and financial services. By design, fintech’s end goal is to take over conventional financial services by attracting customers to its flexible service options. Companies like Acumen Finance have predicted continued disruptions in the commercial lending sector in Australia, and have formulated options to help customers thrive in this new financial system.
Within the last decade alone, there has been more progress in finance technology than in the previous century, and that trend is likely to continue. As of 2019, there are more than 12,000 fintech startups worldwide, and it is estimated that the worldwide fintech pie is worth $4.7 trillion USD. In Australia, there has been a five-fold increase in the number of fintech companies. Many startups are entering finance subsectors such as wealthtech, blockchain and insurtech to enhance customer experiences further. Australian fintech companies have attracted worldwide investors, and as of 2018, 54% of these companies are planning to expand overseas. Australia’s fintech industry has been flourishing and will continue to grow. This makes Australia a prime spot for attending fintech conferences this year.
Conferences are a great time and financial investment because they are a great way to learn about new topics and network. Whether you are part of a fintech or financial institution, a tech nerd, or simply interested in the field of financial technology — fintech conferences are great events to attend. At these events, the discussions on the future of money and financing can often have long-lasting impacts for years to come. Attending one of these events is the best way to discover new industry innovations and learn about the latest financial service news and fintech trends. Here are a few of the events happening in Australia this year.
Although not solely fintech-focused, QODE advertises itself as a “2-day crash course in where technology is taking us.” Set for March 24 & 25, this year’s conference will host a multitude of speakers and global experts with over 200 exhibitors and a goal of discussing “practical futurism.” Their speakers will facilitate discussions about how technology will continue to improve our lives and will most definitely include some insight into upcoming fintech trends and needs.
Future of Banking: Live
Scheduled for April 9, 2020, in Sydney, this year’s conference is titled “The Disruption of the Australian Banking Scene”. The focus of the conference will be “to create an ecosystem for digital banking pioneers” to discuss how fintech will continue to upset traditional banking and better serve consumers.
The Fintech Business Awards is back for the fourth year. This awards ceremony recognises fintech startups for their “work and innovation.” In addition to celebrating fintech startups, the awards will also acknowledge blockchain, business lending and consumer lending. This year, the ceremony is due to take place on June 11, in Melbourne.
Waters Technology Australia
Waters Technology Australia is taking place on August 12, 2020, also in Sydney. The event’s focus will be on the future of data and technology in capital markets. One topic of discussion will be the emerging tech innovations in the Australian financial institutions and trends to look out for in 2021. Specifically, there will be an exploration of operational efficiency, automation and next-generation data management systems.
7th Annual FinTECHSummit 2020
The 7th Annual FinTech Summit, set for September 10, 2020, in Sydney is known for bringing together many of the “innovative technology companies that are redefining financial services across all areas of fintech.” This year, topics of discussion will include The Rise of Neo-Banks, FinTech-Bank Partnerships, Open Banking, AI-Driven Banking, and The Growth of Banking-as-a-Service. Branded as the “ecosystem” of fintech, this conference is excellent for fintech entrepreneurs, finance professionals, investors, bankers, lawyers, and other tech professionals. The FinTECHAwards2020 will also be hosted this year on August 6.
One of the largest Australian conferences, Intersekt, will be held on October 26 & 27 in Melbourne. This conference will have keynote sessions, networking opportunities, and social events. It aims to discuss how startups, policymakers, investors and advisors can fully unlock the potential of Australia's fintech market.
What to Expect in 2020
Australian fintech revenue looks set to grow at a CAGR of 76.3% and exceed A$4 billion by 2020. The three main segments of digital payments, personal and business finance and financial infrastructure and data analysis are forecasted to continue growing and disrupting the banking industry. Based, at its foundation, on innovation and the desire to optimise the banking world, in years to come, Australian fintech hopes to develop new technology that will allow consumers to operate in real-time, across borders, and with the flexibility that traditional banking does not offer.
This is an exciting new future, but it can also be daunting. Fintech is here to stay and must be understood by those who want to thrive in the business world. Acumen Finance, with its years of experience in the financial sector, has all of the tools and knowledge needed to help consumers navigate and fully take advantage of this new financial landscape. Whether for peer to peer lending, private lending, commercial lending, or simply adjusting to the realities of fintech, Acumen is here to meet your needs.