They risk falling behind the curve and perhaps even pushing themselves out of the market, as Amazon and other tech companies establish a presence in Australia warns leading global FinTech expert, Matthew Gardiner.
“The five steps to an innovation nation, promoting a ‘national culture of innovation’ outlined by ISA Chair’s Bill Ferris at September’s AFR Innovation summit, speak to Australian middle market companies’ potential to secure their future in industry 4.0” Mr Gardiner said.
“Australian consumers rank 5th in the world for FinTech adoption and consumer demand will drive changes in the marketplace as it has done in Europe, the US and China”
Mr Gardiner is analysing global FinTech operations, their evolving capital efficiencies, customer acquisition and retention strategies at today’s Melbourne public workshop, which is open to mid-market executives on 25 September at Pitcher Partners Melbourne office, being run as part of the Pitcher Partners International Institute of Entrepreneurship (PPIIE) program.
“FinTech is a global disruptor to financial systems, especially banking, through digital transfers of value rather than money,” Frank Wyatt, Academic Director, PPIIE said.
“This is resulting in multiple digital currencies, complete with new systems and processes and the creation of faster electronic banking systems, making obsolete many of the processes mid-market firms are familiar with and has the potential to completely transform the entire value chain”.
“As a nation on the fast track to becoming the third fastest adopter globally of FinTech, and as a leading advocate for the middle market in Australia, it is incumbent upon us to keep our mid-market clients better prepared to meet the challenges of these FinTech innovations, so they can fully capitalise on the opportunities that will inevitably follow.”
Matthew Gardiner is an international expert in FinTech disruption having recently toured Asia and other areas of the world presenting a workshop series for the banking, financial services, superannuation and other associated industries.
He provides advice to banks and financial services professionals across the globe and brings expertise in FinTech systems as well as contemporary knowledge of technologies and emerging platforms. He is a visiting lecturer at Cass Business School and the Asian Banking School.
Click here to link to Mr Gardiner’s full LinkedIn profile.
PPIIE is an industry and university (Swinburne University) collaboration designed to deliver excellence to the middle market by offering graduate programs through the Australian Graduate School of Entrepreneurship, recognised worldwide for its excellence.