Press release
Australia Fintech Market Set to Experience a Massive 28.3% CAGR During 2023-2028
Australia Fintech Market Trends 2023
What is Fintech?
Fintech refers to the innovative use of technology to improve and streamline various financial services and processes. It encompasses a wide range of applications, including online banking, digital payments, investment platforms, lending, and insurance. It relies on advanced software, data analytics, mobile apps, and artificial intelligence (AI) to create more accessible, efficient, and user-friendly financial solutions. It provides services to underserved people and simplifies complex financial tasks. It is also disrupting traditional financial institutions by offering agile and cost-effective alternatives.
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What are the growth prospects and trends in the Australia Fintech Industry:
At present, the increasing adoption of digital payment methods and the rising tech-savvy population represent one of the primary factors driving the demand for fintech in Australia. Moreover, the growing demand for mobile-centric solutions that cater to the on-the-go lifestyle due to the increasing reliance on smartphones for various activities, including financial management, is influencing the market positively in the country. In addition, initiatives undertaken by governing authoroties to support blockchain pilots, reduce business compliance costs and offer tax offsets to fintech start-ups are contributing to the market growth. Apart from this, the rising adoption of contactless payments, mobile wallets, and instant peer-to-peer transfers to conduct transactions is creating a positive outlook for the market in the country.
Who are key players operating in the industry?
• 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
• Zeller Australia Pty Ltd.
Key Market Segmentation:
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
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
Also Browse Latest Reports 2023-2028:
• https://www.digitaljournal.com/pr/news/imarc/tin-market-outlook-2023-industry-size-demand-price-analysis-global-forecast-till-2028
• https://www.digitaljournal.com/pr/news/imarc/india-fantasy-sports-market-size-top-companies-industry-trends-report-2023-2028
• https://www.digitaljournal.com/pr/news/imarc/global-sodium-ion-battery-market-set-to-experience-a-massive-13-2-cagr-during-2023-2028
• https://www.digitaljournal.com/pr/news/imarc/cloud-managed-services-market-poised-to-reach-98-7-billion-2023-2028-driven-by-impressive-12-3-cagr-imarc-group
• https://www.digitaljournal.com/pr/news/imarc/feed-premix-market-latest-trends-2023-2028-global-demand-and-industry-forecast-report-by-imarc-group
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.
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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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