IDC names top 10 fastest growing fintech companies in A/NZ
IDC Financial Insights has unveiled a list of 10 fast-growing fintechs in Australia and New Zealand (A/NZ) as part of the broader FinTech 101 list for Asia/Pacific.
“IDC’s FinTech Fast 101” refers to the fast-growing fintech players in Asia/Pacific based on extensive on-ground analysis of the dominant fintech players within the region.
10 Fastest Growing FinTechs in Australia and New Zealand
Afterpay Touch Group
Airwallex
CoinJar
Data Republic
Harmoney
HashChing
identitii
Prospa
SocietyOne
XeroNote: List is arranged alphabetically, Source IDC, 2017
IDC’s fintech list makes a reference to the Financial Insights’ Triple U framework — ubiquity, utility, and usability.
This is a framework that evaluates fintech data across key metrics such as addressable market, customer adoption, investments, chance of survival, innovation, and marketing.
IDC Financial Insights believes that newer categories of fintechs are gaining traction, including those focused on digital identity and authentication, bitcoin and other cryptocurrencies exchanges, robo-advisory, credit analytics and scoring, and usage-based insurance.
Banks and insurance companies in the A/NZ region have shown greater acceptance and collaboration with fintechs.
Most of these traditional institutions have also invested in fintechs either through acquisitions or VC funding to build their own innovation competencies.
“Australia and New Zealand with the support from the government, fintech hubs, incubators, and accelerator programs have become one of the leading markets for fintech innovation in the world,” says Michael Araneta, IDC financial insights associate vice president.
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Source: IT Brief Australia – IDC names top 10 fastest growing fintech companies in A/NZ
