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Australia Fintech Market 2023-2028: Size, Industry Growth, Trends, Analysis and Forecast

05-02-2023 09:07 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: IMARC Group

Australia Fintech Market 2023-2028: Size, Industry Growth,

According to the latest report by IMARC Group, "Australia Fintech Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2023-2028", the Australia fintech market size reached US$ 2.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.7 Billion by 2028, exhibiting a growth rate (CAGR) of 28.3% during 2023-2028.

Download free sample brochure: https://www.imarcgroup.com/australia-fintech-market/requestsample

Fintech, also referred to as financial technology, represents specialized software and technological solutions that improve or automate financial services and processes. They can be categorized into application programming interface (API), blockchain, data analytics, artificial intelligence (AI), robotic process automation (RPA), etc. Fintech services utilize these customized technologies and algorithms to aid business owners and companies manage their finances from their smartphones or computer and ensure efficient business process automation. Consequently, they find extensive applications in banking, insurance, and securities segment in Australia.

Market Trends:

The emerging trend of digitization in the banking, financial services, and insurance (BFSI) sector and the increasing need for advanced solutions to enhance operational efficiency, process large volumes of data within a short duration, and reduce the chances of human error are primarily driving the Australia fintech market. Besides this, the introduction of numerous innovative financial solutions, including mobile wallets, buy now pay later, digitized money, paperless lending, etc., is further augmenting the market across the country.

Moreover, the launch of various policies and initiatives by the government bodies, such as Blockchain Pilot Grants aimed at reducing business compliance costs and offering tax offsets to fintech start-ups, is acting as another significant growth-inducing factor. Additionally, the escalating integration of machine learning (ML) to monitor borrower spending behavior and credit decision models for identifying risk patterns is expected to propel the Australia fintech market in the coming years.

Checkout Now: https://www.imarcgroup.com/checkout?id=6065&method=7

Australia Fintech Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the Australia fintech market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Judo Bank Pty Ltd (Judo Capital Holdings), mx51 Pty Ltd, PTRN Pty Ltd, Afterpay, Airwallex Pty Ltd, Athena Mortgage Pty Ltd, Divipay Pty Ltd, Stripe Inc., Wise Australia Pty Ltd and Zeller Australia Pty Ltd.

Key Market Segmentation:

The report has segmented the Australia fintech market based on deployment mode, technology, application, end-user and region.

Breakup by Deployment Mode:
• Cloud
• On-Premises

Breakup by Technology:
• Application Programming Interface (API)
• Artificial Intelligence (AI)
• Blockchain
• Data Analytics
• Robotic Process Automation (RPA)
• Others

Breakup by Application:
• Payments and Fund Transfer
• Loans
• Insurance and Personal Finance
• Wealth Management
• Others

Breakup by End-User:
• Banking
• Insurance
• Securities
• Others

Breakup by States:
• New South Wales
• Victoria
• Queensland
• Western Australia
• South Australia
• Tasmania
• Others

Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=6065&flag=C

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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