FinTech Australia secures seven new corporate partners for ecosystem program

FinTech Australia’s ecosystem partnership program has signed seven new corporate partners, including enterprise technology company Oracle.

The program, which helps companies collaborate with Australia’s fintech sector, has confirmed insurance specialist ii-A and global business process management solutions provider WNS as new “Gold tier” partners, alongside Oracle.

Cherie Ryan, VP and regional managing director, ANZ at Oracle, said: “Australia’s fintech space is absolutely buzzing. Working with financial institutions of all sizes across the globe Oracle Cloud, combined with Oracle Banking Open APIs, provides an ecosystem and platform to help drive innovation, deploying Open Banking principles and regulation.

“Joining FinTech Australia enables us to continue our commitment to open collaboration and innovation in banking.”

Business certification and efficiency specialist BSI Group, corporate advisors Latimer Partners, customer experience organisation Probe CX and AI-powered eKYC and AML compliance platform Jumio Corporation have also become ecosystem partners.

FinTech Australia head of strategic partnerships Rehan D’Almeida said: “The ecosystem program plays an instrumental role in allowing us to support the fintech industry.

“This is the biggest burst of growth that it has seen since its inception, and that demonstrates an escalating interest from other companies in Australia’s fintech sector.”

In November last year, Australian Open Banking provider Frollo published a report which showed that 62% of financial services firms in Australia plan to use Open Banking data within the next 12 months.

Mark Nesbitt, principal at Latimer Partners, added: “Australian fintechs are increasingly attracting the interest of global strategic and financial buyers and investors, and we have been privileged to advise a number of highly successful companies on their M&A and capital raising transactions.”