Fintech Trending: Australia and the Road to Fintech in Asia

australia_newzealand_flagsFinovateAsia 2016 is right around the corner. Be sure to visit our registration page and pick up your tickets today. We look forward to seeing you next week, 8 November, as Finovate returns to Asia.

When we talk about financial technology in Asia, we typically turn to places like Singapore, widely regarded to be the fintech “hub” of the region, or to Japan, with its advanced consumer economy (and increased participation in fintech events in the West, like Finovate and FinDEVr, or to China which was recognized by H2 Ventures and KPMG in their 2016 Fintech 100 report as follows:

China now tops the global ranks—swithin three years, China’s fintech ventures have gone from only one company included in the top Established 50 rankings in 2014, to this year China featuring four of the top five companies and eight of the top 50.

This includes Ant Financial, formerly known as Alipay, which as the world’s largest third-party payment platform, is the #1 company in the report, as well as Qudian, a Beijing-based student micro lender, ranked #2.

But there’s a reason why analysts refer to the area as the Asia-Pacific region, and part of that reason is the presence of countries like Australia and New Zealand which, while very much a part of the Asian financial ecosystem, are often overlooked in discussions about the growth of fintech in the area.

Turning back to the H2 Ventures/KPMG report, we see that of the top 100 companies highlighted, while 14 are from Asia, 1o are from Australia and New Zealand. This compares well with the U.K., a long-standing global fintech center, that landed 12 companies in the top 100. These companies include:

  • #14 Xero (F11; FD14) – New Zealand
  • #31 Prospa – Australia
  • #43 Tyro – Australia
  • #50 SocietyOne (F12) – Australia

As well as emerging stars:

  • AfterPay – Australia
  • Bright – Australia
  • Data Republic – Australia
  • HashChing – Australia
  • Identitii (F16) – Australia
  • springy – Australia

Australian and New Zealand fintech companies are clearly punching above their weight. As one illustration noted by Let’s Talk Payments, in December 2015, 5% of Australian fintech startups raised capital. Yet that 5% represented 14% of all capital raised by fintechs in December. Compare this to the United Kingdom where 15% of fintechs received investment dollars in December 2015, yet the amount raised was 11% of the total for that month. It is no surprise that China stands out as the true overachiever, with only 2% of Chinese companies raising capital in last December, but those companies represented 17% of all financing raised.

The takeaway here is more than a call for FinovateDownUnder—although that’s an intriguing idea. It suggests that more attention paid to Australia—as both a developing fintech nation in its own right, as well as a way for Western companies, technical talent, and capital to begin making its way eastward—could be well-rewarded.

See also:

  • 9 Australian companies have made it to the latest global Fintech 100 – Business Insider Australia
  • Australian FinTech Firms Recognized as World Leaders in FinTech – Cryptocoins News
  • Australian fintech founders recognized as world leaders next to tech giants Stripe, Xero and Square – Startup Smart
  • CBA takes pop-up innovation lab on a tour of Australia – Finextra

Our friends from Down Under

This discussion of Australia and New Zealand merits a reminder of how many innovators from Down Under are alums of our Finovate and FinDEVr conferences. In addition to those mentioned above, here’s a quick look at some of our more recent Australian and New Zealander alums:

Welcomer from White Label Personal Clouds Helps You Move Personal Data from Website to Website Securely

WLPCloudLogo.jpg

This post is part of our live coverage of FinovateAsia 2013.

Making their way to the stage next is the team from White Label Personal Clouds.

“WLPC’s first product is Welcomer. Welcomer will initially be focused toward ecommerce sites and the technology is intended across a range of different segments. Welcomer removes the need for websites to have user codes/passwords to identify returning customers. Websites that deploy Welcomer can – with the person’s permission – allow the person to move personal data securely between websites. This includes personal details such as name and address, preferences such as clothing size or preferred seat and also a person’s cards and accounts.”

Presenting Rory Ford (Product Manager) 

IMG_3624.JPG
IMG_3633.JPG

Product Launch: Finovate 2013

Metrics: $1M, 5 employees

Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, and through other fin tech companies and platforms.
HQ: Canberra, ACT, Australia
Founded: June 2013
Website: wlpc.com.au

FinovateAsia 2013 Demo Companies Bring Global Innovation to Singapore

FinovateAsia is typically our most globally diverse show, and this year is no different. Two weeks from now, we will showcase 37 demos from companies spanning the globe that are innovating in everything from remittance to small business tools to back office solutions and much more. 

Given that diversity, we thought it would be fun put together a map showing the geographic spread of the demoing companies that will take the stage (click the map to enlarge).

finovate_asia13map_PRESSUPDATED.jpg

Here’s the breakdown of the number of companies from each region:

  • Asia: 12
  • Europe: 11
  • North America: 9
  • Africa: 1
  • Oceania: 2
  • Middle East: 2

To refresh your memory, the list of the companies that we’ve hand-picked to show off their new technology at the Max Atria @ Singapore Expo on November 14, include:

  • Advanced Merchant Payments
  • App Annie
  • Arkalogic
  • ArthaYantra
  • Backbase
  • BehavioSec
  • BlueKite
  • BRIDGEi2i
  • CustomerXPs Software
  • DragonWealth
  • GMC Software Technologies
  • i-exceed
  • IND Group
  • Intuition Intelligence
  • KlickEx
  • Kofax
  • LifePAD
  • Luminous
  • Mambu
  • Matchi
  • Mistral Mobile
  • Mobexo
  • Mobino
  • Pangea
  • Payoneer
  • Pixeliris
  • Red Zebra
  • SaaS Markets
  • Serverside
  • Smart Engine
  • TIBCO
  • Tootpay
  • TradeNet
  • TSYS
  • White Label Personal Clouds
  • Yodlee

To see live demos of the new technology, meet the entrepreneurs responsible, and network with others in the industry, get your ticket to FinovateAsia here. If you have questions about the show, check out who is attending or email asia@finovate.com.

Showing Our Age: A Look at FinovateAsia 2013 Demo Company Launch Timeline

At Finovate, we’ve seen how great innovation comes from companies of all ages. All we have to do is look at the Best of Show winners from FinovateAsia 2012. The founding dates of the winners ranged from 1858 (NAB, the parent company of UBank) to 2012 (SocietyOne).

We don’t know who will win Best of Show at FinovateAsia in Singapore this year, but looking at the launch date of the 37 companies taking the stage November 14, we found a 28-year spread. 

Here they are in reverse chronological order with funding amounts, if disclosed:

2013- 2012
  • BlueKite: 2013
    Total Funding: $1.5 million Seed funding
2011-2008
  • KlickEx: 2011
    Total Funding: $1.3 million
  • Mambu: 2011
    Total Funding: $2 million Series A

2007 or earlier
  • Yodlee: 1999
    Total Funding: $124 million
  • BehavioSec: 1998
    Total Funding: $2 million (€1.5 million)
  • Kofax: 1985
    Public LON: KFX

To learn more about each of these companies, check them out here and come see their live demos in Singapore on November 14.

_______________________________________________________________

All numbers and funding information sourced from Crunchbase.com

What to Expect at FinovateAsia this November

FAButtonBanner.jpg

You may have seen the list of FinovateAsia demoing companies we released a few weeks ago. Here are more details on the 32 companies demoing November 14 at the MAX Atria @ Singapore Expo. Get your ticket here to be part of the crowd.

Stay tuned for our Sneak Peek series next month featuring a behind-the-scenes look at each company and chance meet the innovators.


AdMerchPaymntsLogo.jpg




Advanced Merchant Payments’ innovative loan management solution enables banks to offer profitable, unsecured, short-term loans to small businesses
ArthaYantraLogo.jpg



ArthaYantra provides personal financial advice online to everyone irrespective of what they earn
BackbaseLogo.jpg



Backbase brings social media to the bank, and the bank to social media
behavioseclogo2013.jpg





BehavioSec has extended its award-winning BehavioMobile solutions to offer policy-based behaviour authentication

BellaDatiLogo2013.jpg










BellaDati is the agile business data analysis with human touch
BlueKiteLogo.jpg





BlueKite’s international bill payment service improves an immigrants’ ability to care for family back home
surveyi2iLogo.jpg




BRIDGEi2i is a trusted partner that enables organizations to achieve accelerated outcomes by embedding analytics in their DNA
CustomerxpsLogo.jpg



CustomerXPs Software is a leading product company offering real-time, Enterprise Fraud Management & CEM products to banks globally
GMCLogo.jpg





GMC Software Technology is a leading software developer of solutions that transform the customer experience
iexceedLogo.jpg






i-exceed has created a Unified Application Development Suite for smartphone, tablets, desktops and laptops across operating systems
INDGroupLogo.jpg







IND Group is a leading innovator and developer of digital banking, PFM and payments technology
IntuitionIntelligenceLogo.jpg






Intuition Intelligence delivers the right offer at the right moment to the right client via digital channels
KlickExLogo.jpg



KlickEx is a Global Clearing System for commercial and central banks. The Clearing System extends to Retail, as well
KofaxLogo.jpg




Kofax is a leading provider of smart process applications that simplify the business critical First Mile of information-intensive customer interaction
LuminousLogo.jpg





Luminous is a boutique innovation company that has become synonymous with innovative banking around the world
MambuLogo.jpg



Mambu enables financial institutions to rapidly deliver state-of-the-art banking services through a cloud-first Software-as-a-Service solution
MatchiLogo.jpg





Matchi is a matchmaker for innovation
mistral_250x94.jpg






Mistral Mobile powers your mobile financial services to serve anyone
MobexoLogo.jpg








Mobexo is a scalable, value-added payment ecosystem that allows transactions to be executed between smartphones
MobinoLogo.jpg






Mobino enables mobile payments for 5 billion people, from any phone, no credit card required
Pangealogolowres.jpg




Pangea Payments’ multiplatform solution will allow you to send money to anyone, from anywhere, at any time, using mobile and retail locations around the world
RedZebraLogo.jpg



Red Zebra brings together consumers, banks and retailers, with targeted rewards based on spending patterns


SaasMarketsLogo.jpg





SaaS Markets is the enterprise app store company for financial organizations looking to leverage cloud-based applications for their employees or customers
Serverside13Logo.jpg





Serverside Group is the global technology leader in digital card designs and a provider of innovative artwork solutions that create meaningful results

SinoLendingLogo.jpg





SinoLending is the leading online lending platform in China
SmartEngineLogo.jpg




Smart Engine’s Multichannel Loyalty Platform benefits financial institutions, merchants, web shops and users
TibcoLogo2.jpg




TIBCO Software creates real-time, event-enabled solutions for the 21st Century
TooTpayLogo.jpg









Tootpay’s mobile payment solution works independently from network and operator. It is encrypted, using a standard mobile phone
TradenetLogosmall.jpg




TradeNet provides an equity trading customer channel for retail customers in emerging markets at $5 a month
TSYSLogo.jpg





TSYS focuses on people-centered payments
WLPCloudLogo.jpg





White Label Personal Clouds’ Website Welcomer eliminates username/passwords and enables seamless, private transfer of information between organisations

YodleeLogo2012.jpg



Yodlee is the platform for financial innovation, powering the world’s largest collection of transactional data
To learn more about FinovateAsia, visit the event page, check out the FAQ, or email asia@finovate.com.