KPMG’s inaugural KPMG Fintech Survey was conducted over the course of 2021, gaining insights from leading Australian fintech firms in areas such as revenue, funding, resources and their customers. The report analyses and highlights emerging trends, challenges and opportunities prevalent in the Australian fintech sector.

Opportunities and challenges in Australian fintech

The findings outlined in the report fundamentally signify the maturation and continued opportunity within the Australian fintech sector. Advancements in innovation and a surge in investment demonstrate the ability of Australian businesses to establish themselves as key players within the broader global fintech landscape.

Payments, lending and regtech sectors feature the highest number of Australian firms and will likely be the areas which attract significant investment in the coming years. Sixty-seven percent of respondents are actively looking to raise capital within the next 12 months and the overwhelming majority (95 percent) indicated they are seeking to hire more local staff. This substantiates the considerable growth of the Australian fintech ecosystem despite talent acquisition consistently ranking amongst the top challenges faced by industry.

The Australian fintech sector continues to evolve and mature

The survey report findings evidence the Australian fintech sector’s continued growth and maturation – with innovation and rising investment occurring across a range of different sectors. We expect this trend to continue well into 2022 and predict that over the coming years we will see Australian fintech firms establish themselves as truly global players within the international fintech landscape.

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