As the innovation agenda grows in Australia, it is important to collaborate with our international fintech counterparts, to seek out new opportunities for our startups and scale-ups. Tyro’s Executive Director, Jost Stollmann, recently met with the German Ambassador, Dr Anna Prinz, to discuss opportunities for collaboration between German and Australian fintechs and to take her on a tour of the Tyro Fintech Hub.
Fintech start-ups are transforming the financial sector through the speed at which they adopt new technologies to create a better banking experience. Australian fintechs need to grow not only domestically, but also at an international level too. To do this, start-ups and scale-ups need to partner with the new digital banks emerging in markets such as Germany and the UK, learn from their experiences and bring home this knowledge and apply it in Australia.
Compared to other markets, Australia has a small fintech community. For Australian fintechs to thrive, they need to take from the learnings of international partnerships on how to scale and disrupt. Dr Prinz has a particular focus on creating strong partnerships by identifying projects for innovative research between German and Australian companies. Such partnerships would help to create stronger, entrepreneurial networks between the two countries and would also assist in driving innovation.
The Ambassador’s visit follows the G20 Conference in Wiesbaden, Germany where Federal Treasurer, The Hon Scott Morrison MP, told the congregation that Australia will see positive impacts on its economy the bigger its fintech ecosystem grows.