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The Australia fintech market is expected to exhibit a CAGR of 30% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Fintech, also known as financial technology, refers to software that enhances or automates financial services and processes. It utilizes specialized software and algorithms to help business owners, companies, and consumers manage their finances using a computer or a smartphone. Fintech employ several technologies, including application programming interface (API), artificial intelligence (AI), blockchain, robotic process automation (RPA), and data analytics. It is widely adopted in the banking, financial services, and insurance (BFSI) sector for payments and fund transfers, loans, insurance, personal finance, wealth management, etc.
The rising trend of digitization in the banking, financial services, and insurance (BFSI) industry is primarily driving the Australia fintech market. In line with this, the increasing requirement for advanced solutions in the banking process to enhance efficiency, minimize the chances of human error, and process large volumes of data in a short duration is also propelling the market growth in the country. Additionally, the launch of several innovative financial solutions, such as mobile wallets, digitized money, paperless lending, buy now pay later, etc., is further augmenting the regional market. Moreover, the Australian government is undertaking numerous initiatives, including the Blockchain Pilot Grants to support blockchain pilots for reducing business compliance costs and offering tax offsets to Fintech start-ups. This, in turn, is propelling the growth of the market. In line with this, the growing number of collaborations between national regulators and financial institutions is acting as another significant growth-inducing factor. For instance, the Global Financial Innovation Network (GFIN), an international group of financial regulators and related organizations, including the Australian Securities & Investments Commission, is committed to encouraging financial innovation for the interests of consumers. Additionally, the rising integration of Fintech solutions with machine learning (ML) to monitor borrower spending behavior and improve credit decision models in order to identify risk patterns is further creating a positive outlook for the regional market. Moreover, the advent of robotic process automation and personalized artificial intelligence (AI) to enhance the consumer experience, eliminate repetition and minimize expenses, and provide value-added services to customers, is anticipated to drive the Australia fintech market in the coming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the Australia fintech market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on deployment mode, technology, application and end-user.
Breakup by Deployment Mode:
Breakup by Technology:
Breakup by Application:
Breakup by End-User:
Breakup by States:
The competitive landscape of the industry has also been examined along with the profiles of the key players. The key players are Afterpay, Airwallex Pty Ltd, Athena Mortgage Pty Ltd, Divipay Pty Ltd, Judo Bank Pty Ltd (Judo Capital Holdings), mx51 Pty Ltd, PTRN Pty Ltd, Stripe Inc., Wise Australia Pty Ltd and Zeller Australia Pty Ltd.
|Base Year of the Analysis||2021|
|Segment Coverage||Deployment Mode, Technology, Application, End-User, States|
|States Covered||New South Wales, Victoria, Queensland, Western Australia, South Australia, Tasmania|
|Companies Covered||Afterpay, Airwallex Pty Ltd, Athena Mortgage Pty Ltd, Divipay Pty Ltd, Judo Bank Pty Ltd (Judo Capital Holdings), mx51 Pty Ltd, PTRN Pty Ltd, Stripe Inc., Wise Australia Pty Ltd and Zeller Australia Pty Ltd.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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