The past year has been one of excitement for Australia’s fintech eco-system, which saw a significant level of M&A activity from incumbent local and offshore financial services providers.

This excitement and validation for the larger players in the eco-system has driven the continued investment in the space, which saw strong support for the local fintech sector across a broad range of categories.

The KPMG Fintech Landscape 2021, which captures the breadth and depth of independent fintechs active and headquartered in Australia, provides a snapshot of the innovation taking place across the financial services technology sector. It shows a total of 718 currently active fintechs, up from 701 when the landscape was last released in December 2020.


2021 key insights

Key insights from the KPMG Fintech Landscape 2021 include:

The number of fintechs solving middle & back office problems increased by more than 20%, driven by the increasing demand for automation and integration from incumbents and innovators alike.

Lending continues to be a hot category, with the number of fintechs in the space up by over 10%, led by successful operators in the consumer lending, mortgage and buy-now-pay-later sectors, and supported by low interest rates and availability of investor funding.

The neobank sector continues to evolve – 2021 saw the acquisition of two of Australia’s founding neobank players (86 400 and Up), while challengers continue to progress with the granting of new banking licences (Alex Bank and Avenue Bank).

Payments remains an active sector, with 15 new fintechs added to the landscape, although this was counterbalanced by acquisitions and a number of fintechs in the category that ceased trading.

Blockchain and cryptocurrency continues to evolve as market participants jockey to understand what the future structure of the category looks like.


Download the full version (PDF 3.3MB)  >

View, download and print the one-page snapshot which showcases the breadth of fintech companies operating in Australia.



Get in touch

Contact the KPMG fintech team or sign up for fintech insights delivered to your inbox.



Further reading

Further insights and thought leadership related to fintech.