The rise of Fintech opportunities and challenges

Financial technology (Fintech) is experiencing rapid growth internationally. This paper examines the key drivers of the growth of Fintech, its role in redefining the financial services industry, and the likely impact on industry business models. The paper also analyses the trends in Fintech investment in global and regional markets and Australia's alternative finance market, and highlights a series of strategic challenges and opportunities for incumbent financial institutions. An earlier version of this paper was presented at the 21st Melbourne Money and Finance Conference.