After sifting through a record number of submissions, the finalists for Australia’s only industry-backed fintech awards will be announced next week.
The Finnie Awards, launched to recognise fintech startups for their work and innovation, has received 30% more submissions for this year’s event compared to 2018, with the FinTech Organisation of the Year category receiving the most entries.
According to GM of FinTech Australia, Rebecca Schot-Guppy, “it will be a tight competition.”
“We'll learn who the finalists are next week, and ahead of that want to congratulate everyone on the calibre of their entries. From the brief chats I've had with them, I know the judges have had a tough time creating the shortlists,” she added.
This year, the event is highlighting industry collaboration, adding several new award categories such as: Deal of the Year, Partnership of the Year, and Biggest Raise of the Year.
When entries were first opened in February, Schot-Guppy explained the theme was chosen because collaboration is what makes the fintech community unique, adding: “No fintech can disrupt in isolation.”
This sentiment has gained more widespread support in recent months, with a series of reports and surveys charting the growing trust in the alternative finance space.
According to a recent release from S&P Global Ratings, “Australia's banking sector is poised for substantial change on the back of fintech development.”
Nico DeLange, S&P credit analyst and author of the report, added, "Technological developments can give banks the ability to more meaningful differentiate themselves and offer customers improved ways to navigate a complex financial landscape.”
The third annual Finnies will be held on Thursday, June 6. After having taken place in Sydney for the past two years, this year’s event will occur in Melbourne in order to be more accessible to a different cross-section of the industry, a decision inspired by the theme of collaboration.
Tickets go on sale this Monday, 6 May.