British start-up aims to put some heat on Aussie super funds

Most of the British fintech companies scanning the Australian market have their sights fixed on the imminent open-banking regime and the Hayne inquiry fallout. But there’s one London start-up that is instead hoping to shake up the superannuation sector.

SmartPension is a fintech and master trust that last month won backing from the “Fintech Bridge” – a joint venture by the Australian and British governments to boost two-way investment – and looks primed to exploit the struggles Australian small businesses face with superannuation complexity and red tape.

Over the next six months, SmartPension will be one of 10 British financial technology companies to get red-carpet treatment from regulators in Australia as it weighs up the plunge.

“It’s a great market. It’s the fourth-biggest defined-contributions market in the world. Australia is going to be one of the best expansion options out there,” said SmartPension’s international director, Dan Mclaughlin, who is spearheading the push.

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Source: British start-up aims to put some heat on Aussie super funds