“Profitability can come later on”: Aussie fintech growing into a huge opportunity, despite ongoing talent pool challenges

Australian fintechs are on average a little older, a little more mature, and generating a lot more revenue than they were this time last year, but there are still challenges in the sector according to the EY FinTech Australia Census 2018, released this week.

Following a survey of 151 fintechs across Australia, and a series of in-depth interviews, the report shows a maturing fintech market in Australia, with 43% of fintechs over three years old, compared to 31% in 2017 and 20% in 2016.