17 December 2014

Empowering startups to disrupt banking

Tyro decided to open up and to back the Sydney fintech community empowering startups and fast growth companies to disrupt banking.

Tyro knows what it is talking about. To disrupt banking is a daunting, but an overdue challenge. The banking oligopoly profits from huge barriers to entry and enjoys a growing $30 billion profit pool. It will take an entire fintech and banktech startup ecosystem to open up the market to innovation and competition and we will build it in the heart of the Sydney CBD.

Tyro opens up its space, skills and application programming interfaces (APIs) for other fintech startups and fast growth companies who want to build all these new functionality and solutions that Australians and especially Australia’s small-to-medium businesses (SME) need.

Tyro offers an entire floor of its new 4,000sqm open plan A-grade 155 Clarence Street office space with all amenities and services to the fintech and banktech startups and early growth companies. It’s a Surry Hills creative space in a prime, lively CBD location.

Entrepreneurs who call this Tyro FinTechHub their temporary home will benefit from a very inspiring work environment, the exchange of ideas and experiences with the Tyro team and – for qualifying projects – from sharing in-depth banking and payments knowledge, use of open APIs and co-development resources. Tyro contributes these unique assets to Sydney’s effort to become a leading fintech location.

Tyro competes head-on with the banking establishment. Tyro does not take equity positions. Tyro has no intention to compete with incubators or accelerators who provide start-up companies with mentoring, consulting, engineering and capital. Rather for these players, the Tyro FinTechHub is the location for their companies, when they need and seek the access to the Australian banking system.

If you want to support or be part of a fintech and banktech startup ecosystem in the heart of Sydney CBD, drop us an email to fintechhub@tyro.com.

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