Around the world, fintechs have grown up and out – improving and expanding their offerings, driving increased consumer awareness and uptake, and spurring change across the entire financial services ecosystem. Underpinning this are the dynamic fintech eco-systems which support the startups and scaleups based on drivers of success in talent, capital, government initiatives and policy and environment.

James Lloyd
EY Asia-Pacific FinTech and Payments Leader

As the sector continues to grow and expand at pace, the drivers of success for fintechs hold true. Consistent with previous years, the Census underlined five key drivers of success. Importantly, these are consistent with the extensive analysis conducted by EY teams on the international fintech scene. Collectively, these drivers of success will create an ecosystem where the Australian Fintech industry can flourish.

For each driver of success, a number of variables can have an impact on fintechs – either at an industry-wide level, or from an individual firm perspective. We have isolated these factors and the discussion around the drivers unfolds over the coming pages.

The 5 drivers of fintech success
1 Talent
2 Capital
3 Demand
4 Policy
5 Environment