FinTech Australia, the not-for-profit industry body for the Australian fintech sector, has launched a reverse pitch event calling on local and global fintechs and emerging startups to support the local banking and finance sector.
The fintech and broader technology business community will be invited to attend the reverse pitch event on 21 February 2024 to hear first hand from major banks on issues they would like to solve. Startups and scaleups then have opportunity to present their solutions to the banks by 20 March 2024.
FinTech Australia, which represents over 420 fintech companies and startups across the nation, has teamed up with Investment NSW, 1835i, as well as banks ANZ and Westpac for the event. It will share selected problem statements across important banking related matters such as sustainability, payments and fraud and scams.
Collaboration with fintechs
“Fintech has always been built on the back of partnerships and collaboration with major companies in the financial services sector. This event exemplifies these points,” said FinTech Australia general manager Rehan D’Almeida.
“It is pleasing to see major banks ANZ and Westpac collaborating with the fintech sector which speaks to the confidence they have in the industry to solve real-world issues faced today. I have no doubt that our local fintechs and other innovative companies globally will rise to the occasion. The event showcases the vibrancy and collaborative nature of our fintech ecosystem, and provides an opportunity for global fintechs looking to get a foothold in Sydney.”
Philippa Campbell, ANZ head of transaction banking Australia and PNG, also commented: “Australia’s fintech sector has fostered a rich culture of forward-thinking, innovative businesses and solutions. We’re looking forward to partnering with fintechs to pioneer solutions that not only enhance the resilience of our systems but also empower our institutional customers to thrive sustainably amidst the evolving challenges of today.”
While David Walker, group CTO at Westpac, said: “Westpac is proud to partner with many fintechs and these relationships are particularly important as we accelerate our technology transformation. This initiative by FinTech Australia and Investment NSW reflects our ongoing commitment to pursue meaningful partnerships that solve business problems, and most importantly help our customers. We look forward to seeing the fresh thinking from this dynamic sector.”
