Prime Minister Malcolm Turnbull and treasurer Scott Morrison have created a fintech advisory group as the government looks to place Australia as the leading market in the Asia Pacific.
The government says Australia is a leading financial service market for the region but the sector is increasingly being exposed to disruption by emerging technologies.
The FinTech advisory group will be chaired by Craig Dunn, chairman of Stone & Chalk and a director of Westpac. The group will include:
Simon Cant, Co-Founder and Managing Director, Reinventure
Matt Symons, Co-Founder and CEO, Society One
Jason Yetton, former Group Executive, Retail and Business Banking, Westpac
Nerida Caesar, CEO and Managing Director, Veda
Kelly Bayer Rosmarin, Group Executive, Institutional Banking & Markets, Commonwealth Bank
Ben Heap, Founding Partner, H2 Ventures
Claire Wivell Plater, Owner, The Fold Legal Pty Ltd
Asher Tan, Co-Founder and CEO, Coinjar
Libby Roy, Managing Director, Paypal Australia
Jost Stollman, Executive Director and CEO, Tyro Payments
Jonny Wilkinson, Co-Founder and Managing Director, Equitise
Scott Farrell, Partner, King & Wood Mallesons.
The government highlighted growth crowdfunding, peer-to-peer lending, mobile payments and digital currencies as big disrupters in the industry.
Turnbull’s new advisory board comes at a time when venture capitalists are pouring money into the sector and the number of startups is soaring, with economists late last year predicting $42 billion will be invested in the Australian industry in 2016.