FinTech Australia joins new Trade Diversification push

FinTech Australia has joined the Federal Government's new Trade Diversification Network as one of four technology-focused peak bodies working with Austrade on export expansion.

The Trade Diversification Network forms the delivery arm for Austrade's Accessing New Markets Initiative, funded at USD $50 million. The initiative focuses on export diversification and new market entry for Australian businesses.

Austrade has selected 40 national peak industry bodies for the network. FinTech Australia confirmed its place among them and said it would contribute to export planning for the local fintech sector.

Export footprint

Research cited by FinTech Australia pointed to an existing international revenue base across the sector. It referenced earlier work from Deloitte and EY that found 41% of fintechs had a geographical focus beyond Australia, and 50% generated revenue outside Australia in 2023.

The organisation also pointed to trade's role across the economy. It said nearly a third of Australia's economic output is supported by trade, and it linked one in four Australian jobs to exporting.

FinTech Australia said it would work with Austrade and other peak bodies on export activity design for fintech companies. The work sits within a broader government effort to expand trade ties and reduce reliance on any single market.

Planned activities

FinTech Australia said the program is expected to include trade missions and in-market showcases. It also flagged capability-building programs and tailored support for fintech exporters.

The organisation said the activities would focus on priority regions such as Southeast Asia. It also pointed to other high-growth markets where Australian financial technology already has demand.

Austrade often uses trade missions and showcases as a route into new markets for small and mid-sized exporters. Such programs typically involve introductions to potential customers, local partners, and regulators, as well as briefings on market access requirements.

Sector priorities

FinTech Australia Chief Executive Officer Rehan D'Almeida said the sector had already built export momentum and now faced shifting international conditions.

"We're thrilled to be one of four technology-focused peak bodies selected for this program. Fintech is already one of Australia's quiet export success stories. Our members are already building products that are used well beyond our shores, from payments and regtech to wealth and lending platforms. Geopolitical instability is changing priorities for the fintech sector. Many are looking at markets outside of the US and UK, and exploring opportunities in Europe, Asia and other regions. That's especially the case with digital assets and Stablecoin," said D'Almeida.

"Being part of the Trade Diversification Network means fintech has a direct seat at the table as government and industry work together to open new doors and deepen long-term trade relationships with a broad range of countries," said D'Almeida.

"This program will help capitalise on the existing appetite for Australian fintech expertise abroad. It will help us identify priority markets, address regulatory barriers and create more opportunities for our members to export at scale," added D'Almeida.

"We've consistently argued that fintech should sit alongside more traditional sectors in trade policy. This announcement shows that digital financial services and technology are now recognised as part of Australia's broader trade story, and we look forward to helping turn that recognition into tangible outcomes for founders and their teams," concluded D'Almeida.

FinTech Australia represents more than 400 fintech companies and startups across the country. The body engages with government and industry on policy, regulatory settings, and sector development, including international market engagement.

The organisation said its work in the Trade Diversification Network would focus on co-designing export activities with Austrade and other industry bodies, with attention on priority markets and regulatory issues affecting cross-border fintech services.