Fintech innovations drive financial recovery in Australia

With unemployment figures on the rise in Australia, Startupbootcamp details seven of the world’s top fintech startups and scaleups set to help the country drive financial and economic recovery. 

By joining Startupbootcamp - a Fintech Accelerator - the global fintech innovations are expected to bring value to the financial services industry in Australia, as well as cut costs and accelerate businesses and customer financial health and wellbeing.

With social distancing accelerating the use of online viewing and management of financial services. As a result Startupbootcamp reports that recent talks in Australia’s Capital - Canberra - have been centred around a fintech-led COVID-19 economy, turning to innovation for support.

Those who are partners of the Startupbootcamp Fintech accelerator are looking for new and powerful technology and business models. These innovations will help to protect and empower financial health and wellbeing of both organisations and consumers.

The main focus areas for the 2020 ecosystem include:

• Financial health and wellbeing
• Regtech
• Insurtech
• Claims and risk
• Data management
• Corporate social responsibility

As part of its efforts, Startupbootcamp works with some of Australia’s largest financial and insurance corporations, including: Bupa, AustralianSuper, Capgemini, DiUS, AWS, Pitcher Partners, KHQ Lawyers, the Victorian and Australian Government. Airwallex. Facet5, YBF Ventures, COSEC and Stripe.

“Australia has largely moved and accepted the ‘New Normal’ with most of the country deep into their reponing. Even here in Victoria, there’s a clearer picture of what’s next. These 7 companies will help to bring immediate support and cost savings to businesses, consumers, and the economy as a whole. There has never been a more important time for innovation in the industry and we are excited to be leading by example in the recovery effort.” Says Brian Collins, FinTech Managing Director. 

Those selected to join Startupbootcamp’s 2020 program include:

• datacy - allows people to collect, manage and sell online data easily and transparently. Its capabilities allow businesses access to high quality and bespoke consumer datasets legally and ethically
• Harpocrates - provides simple data privacy compliance solutions
• Mark Labs - helps institutions integrate impact considerations into the core of their investment decisions
• massUp - provides digital solutions for the insurance industry, via a digital B2B solution for sales
• OnTrack Retirement - provides B2B digital retirement planning solutions for financial institutions 
• Plastiq.it - a customer data platform that drives stored value
• RegRadar - an AI driven platform that helps to monitor, analyse and anticipate regulatory changes 

For more information on business topics in Asia Pacific, Australia and New Zealand, please take a look at the latest edition of Business Chief APAC.

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