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Australia Fintech Market Size, Share, Trends, Forecast: By Deployment Mode: On–Premises, Cloud; By Technology: Artificial Intelligence, Application Programming Interface (API), Robotic Process Automation, Data Analytics, Others; By Application: Payments and Fund Transfer, Loans, Others; Regional Analysis; Competitive Landscape; 2024-2032
Australia Fintech Market Outlook
The Australia fintech market size is projected to grow at a CAGR of 15.65% between 2024 and 2032.
Key Takeaways:
- According to ABA, 98.9% of the bank interactions have gone digital, with mobile wallet transactions reaching around USD 93 billion.
- Mobile wallet transactions reached USD 93 billion in 2022. This marks a significant jump from USD 746 million in 2018.
- As per ABA, Australia online banking interactions witnessed 21% growth, during 2019-2022.
Growing digitalization across Australia BFSI and increasing uses of fintech solutions to analyze financial behaviour are expected to create significant opportunities for Australia fintech market
The growth in Australia fintech industry can be attributed to the increasing digitization across banking, financial services, and insurance (BFSI) sector. This trend is fuelled by a growing need for sophisticated solutions within the banking process. These solutions aim to streamline efficiency, minimize human error, and enable the processing of vast data volumes in a timely manner.
With more than 800 fintech companies distributed across all Australian capital cities, Australia positions itself as a global leader in fintech innovation. This robust presence makes Australia an ideal location for companies seeking to establish their Asian regional headquarters and leverage the country's strong fintech foundation. Conversely, Australian fintech companies themselves demonstrate a strong appetite for international expansion, actively pursuing partnerships with overseas counterparts to propel their growth into global markets.
Further, the increasing integration of fintech solutions with ML offers significant advantages. By analyzing borrower spending behavior, ML can refine credit decision models, enabling the identification of risk patterns with greater accuracy. This fosters a more robust financial landscape.
In March 2024, Commonwealth Bank, a major Australian bank, partnered with Smartgroup, a leader in salary packaging, to offer a helping hand with finances. This partnership is all about giving people more control over their money. By working together, CommBank and Smartgroup are expected to provide with access to valuable financial tools and deals.
Market Segmentation
Australia Fintech Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Deployment Mode
- On–Premises
- Cloud
Market Breakup by Technology
- Artificial Intelligence
- Application Programming Interface (API)
- Robotic Process Automation
- Data Analytics
- Others
Market Breakup by Application
- Payments and Fund Transfer
- Loans
- Insurance and Personal Finance
- Wealth Management
- Others
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
The Australia fintech market key players are Airwallex Pty Ltd., Zeller Holdings Pty Ltd., PTRN Pty Ltd., Judo Bank Pty Ltd., Zip Co. Limited, Athena Mortgage Pty Ltd., Property Exchange Australia Ltd. (PEXA), mx51 Group Pty Ltd., Afterpay Australia Pty Ltd., and Wise Australia Pty Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Deployment Mode |
|
| Breakup by Technology |
|
| Breakup by Application |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Fintech Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Fintech Historical Market (2018-2023)
8.3 Asia Pacific Fintech Market Forecast (2024-2032)
9 Australia Fintech Market Overview
9.1 Key Industry Highlights
9.2 Australia Fintech Historical Market (2018-2023)
9.3 Australia Fintech Market Forecast (2024-2032)
10 Australia Fintech Market by Deployment Mode
10.1 On–Premises
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Cloud
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Australia Fintech Market by Technology
11.1 Artificial Intelligence
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Application Programming Interface (API)
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Robotic Process Automation
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Data Analytics
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Australia Fintech Market by Application
12.1 Payments and Fund Transfer
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Loans
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Insurance and Personal Finance
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Wealth Management
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 Australia Fintech Market by Region
13.1 New South Wales
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Victoria
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Queensland
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Australian Capital Territory
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Western Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Airwallex Pty Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Zeller Holdings Pty Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 PTRN Pty Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Judo Bank Pty Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Zip Co. Limited
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Athena Mortgage Pty Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Property Exchange Australia Ltd. (PEXA)
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 mx51 Group Pty Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Afterpay Australia Pty Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Wise Australia Pty Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Fintech Market: Key Industry Highlights, 2018 and 2032
2. Australia Fintech Market: Key Industry Highlights, 2018 and 2032
3. Australia Fintech Historical Market: Breakup by Deployment Mode (USD Million), 2018-2023
4. Australia Fintech Market Forecast: Breakup by Deployment Mode (USD Million), 2024-2032
5. Australia Fintech Historical Market: Breakup by Technology (USD Million), 2018-2023
6. Australia Fintech Market Forecast: Breakup by Technology (USD Million), 2024-2032
7. Australia Fintech Historical Market: Breakup by Application (USD Million), 2018-2023
8. Australia Fintech Market Forecast: Breakup by Application (USD Million), 2024-2032
9. Australia Fintech Historical Market: Breakup by Region (USD Million), 2018-2023
10. Australia Fintech Market Forecast: Breakup by Region (USD Million), 2024-2032
11. Australia Fintech Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 15.65% between 2024 and 2032.
The market is categorised according to deployment mode, which includes on-premises and cloud.
The key players are Airwallex Pty Ltd., Zeller Holdings Pty Ltd., PTRN Pty Ltd., Judo Bank Pty Ltd., Zip Co. Limited, Athena Mortgage Pty Ltd., Property Exchange Australia Ltd. (PEXA), mx51 Group Pty Ltd., Afterpay Australia Pty Ltd., and Wise Australia Pty Ltd., among others.
Based on the technology, the market is divided into artificial intelligence, application programming interface (API), robotic process automation, data analytics, and others.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others.
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