#FinTech In Victoria
## A Little About Me
- I'm a recovering tax lawyer
- I co-organise the Fintech Melbourne (biggest in AsiaPac) and Bitcoin Melbourne (biggest In Australia) meetups
- I sit on the board of The Bitcoin Association of Australia (regulatory and legal)
- I lead the digital currency and blockchain subcommittee for FinTech Australia
- Working on Block+Labs: an open innovation platform for corporate and startup collaboration on blockchain projects
- Also, consult and write on Bitcoin and blockchain tech
## Software is eating the world
- It’s now starting to nibble on finance.
- We’re seeing a huge amount of interest in the sector from incumbents, VCs and (most importantly) consumers.
- There has been a Cambrian explosion of fintech startups.
- They're attacking a wide number of verticals (i.e. payments, financial advice, lending and remittance)
- We’re seeing an ‘atomisation’ (or unbundling) of banking
The Unbundling Of Banking
Massive VC Investment Growth
###An Active Community Of Startups
- One of the co-organisers of FinTech Melbourne, Stuart Stoyan of MoneyPlace, ran the FinTech Victoria Census as a way to get an idea of what the community looks like.
- Overall, 52 companies completed the census. They represented over 500 people working in FinTech in Melbourne
- Most startups were in payments (31%), followed by personal finance (27%), institutional tools (15%) and lending (15%)
###An Active Community Of Startups (cont.)
- A majority were nascent companies with 75% having operated for 2 years or less
- Around 50% were post-launch and generating revenue
- Most FinTech startups are self funded with 87% being 'founder funded'
- Most founders are in their 30s (50% being 30-39 years of age)
- Founders noted that the biggest issue they faced was customer acquisition (31%)
### FinTech Melbourne
- Our goal is to build the Melbourne FinTech community by fostering connections between industry and startups
- We believe that a strong community is key to helping foster a vibrant ecosystem for everyone in the FinTech space
- We mainly do this by hosting the best FinTech events
###Hosted a fireside chat with Shayne Elliott on FinTech and innovation in banking
###Helped launch ASIC's regulatory sandbox discussion paper
###Hosted 2 of the biggest FinTech pitch nights in Australia
##What About FinTech Nationally?
###Sydney Is The Home Of FinTech
- Sydney has Tyro and Stone & Chalk as the centre of their ecosystem
- Also, home to many startups in the payments and personal finance space
- Also, a few high profile VCs that specialise in FinTech - e.g. H2 and Reinventure
- But many are working to unite the industry to create a 'national voice'
- Fintech Australia is the national FinTech Industry Association
- Founded in October 2015, the membership base comprises over 70 startups, VCs, hubs and accelerators across Australia that specialise in FinTech
- The goal of the association is to support the Australian FinTech community, build awareness and trust in FinTech startups and advocate for better policy on behalf of our members
- We've been working on a number of policy issues - e.g. removal of GST from bitcoin, ASIC regulatory sandbox
I can be reached on Twitter (@alantsen) or by email (firstname.lastname@example.org)