The 6th quarterly Artesian Investor Update and Early-Stage Innovation Briefing was held at KPMG offices in Melbourne on 14 June 2016.
The focus of the meeting was “The Future of FinTech”. The investor panel included Andrew Todd (Chief Information Officer, IOOF), Cameron Boardman (Executive Director, Victorian Department of Economic Development, Jobs, Transport and Resources), Matt O’Keefe (Partner, KPMG) and Julia Wong (Director, NAB Treasury). The startup panel included Andrew Lai (Founder of Financial Ask and FinTech Melbourne), Luke Fay (General Manager of VentureCrowd), Andrew Watt (Cofounder / COO of Moula Money), Charlotte Petris (Founder / CEO of Timelio) and Asher Tan (Founder / CEO of CoinJar).
With $19B invested into FinTech companies globally in 2015 (up from just $4B two years prior), the interest in threats and opportunities of disrupting the status quo in the financial services sector has never been great
The corporate panel discussed the concerns of disruption and how incumbents should be buoyed by the enormous opportunities to leverage their existing customer and distribution base using FinTech innovations. The startup panel discussed how the FinTech sector must choose whether to engage and collaborate with incumbents or continue as external disruptors.