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  • Rethink Fintech - Australia

Rethink Fintech - Australia

02 July 2020

Over the last few years, we’ve seen the Australian Fintech ecosystem mature. Fintechs have surged on a wave of financial growth, market opportunities and a thriving investment environment - while being boosted by new regulatory conditions to support entrepreneurship and the rise of non-traditional finance. However, with over three quarters of Australian Fintechs not yet making a profit, the COVID-19 crisis has threatened a flourishing sector, with many companies grappling with survival. This has been compounded by the subsequent market downturn, impacting the short-term viability of Fintechs’ revenue and customer growth.

In this study, our BDO Banking experts provide insights into the challenges banks are facing and give practical advice on how BDO can support the Banking sector along all stages of the COVID-19 crisis and beyond.