27 April 2017

Australian Technology Revealed on World Stage

Australia’s leading independent payments provider, Tyro Payments, will today showcase its unique product offering to a global community of innovators at the FinovateSpring 2017 conference in San Jose, California.
FinovateSpring is a stage for the best Fintech developments around the world. It attracts more than 1,000 international senior decision makers with a stake in the future of banking and financial technology.
Only the world’s leading start-ups, established Fintechs and financial institutions are invited to demonstrate their latest innovations at FinovateSpring.
Since Tyro was established in 2003 to service the needs of Australia’s small and medium sized businesses, its growth has been remarkable.
It currently services more than 18,000 businesses and is generating an average growth in its customer base of 18 percent per annum [1].
Small and medium sized businesses are critical to Australia’s economic prosperity, providing eight million of the country’s 12 million jobs, and contributing more than $343 billion to the economy annually.

Tyro’s Director of Product, Mr Kareem Al-Bassam said “Tyro is one of the very few non-North American organisations invited to demonstrate at FinovateSpring”.

“Tyro does things differently from the established banking institutions. We cater exclusively to the needs of Australia’s two million small and medium sized businesses, which have been yearning for better service,” he added.

“Our business banking products are developed from the SME customers’ point of view, integrating their needs and pain points into the design and development process.

“One thing we hear clearly is that SMEs want a linked experience between their deposits, lending and EFTPOS acquiring and seamless integration of their accounting, banking and bill payments through a single mobile App.”

Mr Al-Bassam said that Tyro’s unique status as the first and only technology company in Australia to be granted an unrestricted banking licence positioned it to revolutionise business banking.

“In collaboration with other Fintechs, we are developing a broad eco-system to accelerate revenue growth and make banking easier for thousands of businesses across Australia,” he said.

[1] Percentage increases as compared to half year ended 31 December 2015

Need to know more?

For more about this news story please contact:
Monica Appleby, Head of Corporate Communications on 0466 598 946 or mappleby@tyro.com
Sophie Cotterill, Corporate Communications Manager on 0414 960 292 or scotterill@tyro.com