Nine leading UK fintech companies have been sent to Australia by the UK’s Department for International Trade (DIT) to form part of the UK-Australia FinTech Bridge Pilot Programme.
Having launched in March 2018, the UK-Australia Fintech Bridge aimed to strengthen engagement on fintech policy and regulation; facilitate trade flows and access to capital opportunities; and address barriers to international growth and has since aided in the forging of strong links between the fintech ecosystems of both countries.
The group, which is set to explore the Australian market and other business opportunities, will be showcasing the strengths of the UK FinTech sector at Australia’s leading industry conference, Intersekt 2019, before travelling to Sydney for a program of meetings and events.
Michael Ward, British Consul General and UK Deputy Trade Commissioner, Asia Pacific – Australia and New Zealand said: “The UK has long been a world-leader in financial services; it remains one of our most important sectors.
“And, with our highly developed tech eco-system attracting unprecedented levels of capital investment – more than anywhere else in Europe – our innovative fintech sector is thriving.
“It is great to see such a strong cohort of UK fintechs visiting Australia – it says a lot about the opportunities in this market and the potential to further build our 2-way trade and investment links.”
The Pilot Program, which was launched by UK Minister Graham Stuart during UK Fintech Week back in April 2019, focuses on delivering tangible, tailored support to selected UK FinTechs, in an attempt to accelerate the expansion into the Australian market.
It aims to create further opportunities for UK financial technology companies whilst also working to reduce barriers faced as they aim to grow overseas operations.
The nine companies which have been sent to Australia are: Crowd2Fund, Disburse, Fractal Labs, Pirkx, Recordsure, Smart Pension, TradingHub, TrueLayer and Thyngs.
Ward concluded: “The UK-Australia FinTech Bridge has been a tremendous success to date with over 24 Australian fintechs setting up in the UK since its inception and more than 14 new UK fintechs doing business in Australia and I encourage companies in both countries to take advantage of the opportunities it offers.”
