Press release
Australia Fintech Market To Hit a (CAGR) of 28.3% during 2023-2028 | IMARC Group
Fintech Market Trends 2023
Fintech, short for financial technology, encompasses specialized software and technology solutions designed to enhance and automate financial services and related processes. Fintech tools can be broadly classified into categories like application programming interfaces (APIs), blockchain, data analytics, artificial intelligence (AI), and robotic process automation (RPA), among others. Leveraging these tailored technologies and algorithms, fintech services enable business owners and companies to efficiently manage their finances via smartphones or computers while facilitating effective automation of business processes. As a result, fintech solutions are widely applied in the banking, insurance, and securities sectors in Australia.
Download free sample brochure: https://www.imarcgroup.com/australia-fintech-market/requestsample
What are the growth prospects and trends in the Australia Fintech Industry:
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.
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
• 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
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.
Contact US
IMARC Group
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USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
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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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