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Fintech opportunities in Australia with Commonwealth Bank & AusTrade

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Scottish Enterprise office

Apex House

99 Haymarket Terrace

Edinburgh

EH12 5HD

United Kingdom

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If you're a Scottish fintech company interested in trade opportunities in Australia this event is an opportunity to speak to one of Australia's largest banks, Commonwealth Bank of Australia.

AusTrade, the Australian government’s Trade and Investment arm, will cover wider opportunities in the Australian market and the support they can provide.

Australia’s economic growth has outperformed its peers for the past two decades and the fundamentals are in place for this trend to continue. According to IMF forecasts, Australia is expected to realise average annual real GDP growth of 2.9 per cent between 2017 and 2021 – the highest among major advanced economies

  • Revenue from financial technologies in Australia is forecast to grow to A$4.2 billion by 2020
  • With assets of more than A$7 trillion - over four times the country’s nominal GDP - Australia’s financial sector offers access to one of the Asia-Pacific region’s largest pools of bank assets as well as the world’s third largest pension asset pool.
  • Australia’s major banks (ANZ, CBA, NAB, Westpac) are among the top 50 globally in terms of asset size and rank in the top 20 globally for safest banks. Australia’s A$2 trillion pension assets are expected to grow to A$4.5 trillion over the next decade and the major driver behind the country’s globally significant funds management industry
  • Australia’s financial markets are among the largest and most sophisticated in the Asia- Pacific region with total annual turnover exceeding A$135 trillion or 84 times nominal GDP

On 23 March 2016, the Financial Conduct Authority (FCA) and Australian Securities and Investments Commission (ASIC) signed a regulatory cooperation agreement which provides reciprocal support to Fintech firms entering the Australian and UK Markets.


In March 2017, The Australian Minister for Trade, Tourism and Investment, The Honourable Steven Ciobo MP, signed a collaboration framework between the Commonwealth Bank of Australia’s London Innovation Lab and the Australian Trade and Investment Commission. This initiative helps identify innovation and two-way investment, serving as a platform to support Australian firms, with unique Fintech solutions, to enter the UK market and for UK companies looking to enter Australia.


Examples of UK fintech companies who have recently established in Australia include: Transferwise, the peer-to-peer money transfer service provider; Webexpenses, a global provider of expense management software; Ratesetter, one of the world’s leading peer-to-peer lenders and World Remit, an online money transfer service provider.

If you're interested in the Australian market come along to find out more.


Timings:

  • 1pm Registarion and networking lunch
  • 2pm Event begins
  • 4-5pm Networking


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Date and Time

Location

Scottish Enterprise office

Apex House

99 Haymarket Terrace

Edinburgh

EH12 5HD

United Kingdom

View Map

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