Fintech entrepreneurs fill education gap
While degree-qualified financial planners are in demand, 92 per cent of fintech leaders in Australia's alternative finance sector are tertiary educated, according to Fintech Australia and Ernst & Young (EY).
Fintech Australia and EY's inaugural EY Fintech Australia Census, released this week, found that 92 per cent of fintech leaders in Australia were tertiary educated, of which 65 per cent held an additional postgraduate degree.
"The calibre and quality of people running fintechs and working on the day-to-day operational aspects is a fundamental pillar to success," the report said.
"The analysis of the profile of fintech leaders in the census shows that... they are highly educated."
Data collected from the census also found that an average of 2.2 start-ups had been founded by each fintech leader across the country.
"In many cases, [leaders] have walked away from reliable, salaried corporate roles and chosen this pathway,"the report said.
EY fintech advisory lead, Meredith Angwin, said fintech leaders were not the "twenty-something techno geeks as many would believe".
"Most are experienced, successful financial services leaders who are passionate about changing the way financial services work," she said.
"The industry at large should open its arms to collaboration with these innovators."
AUTHOR
Hope William-Smith
Recommended for you
Rising bearishness among investors has led to a retreat into defensive assets, according to the latest quarterly manager and intelligence trends report from Bfinance.
Cbus Super, the superannuation fund for blue-collar workers, has announced it paid out almost $300m in insurance claims over the last financial year, a rise of $40m from the year before.
The $700 million not-for-profit fund Lutheran Super has announced it is to merge into Mercer Super, with the transfer set to take place in the fourth quarter this year.
Superannuation assets fell 0.5% in value over the 12 months to the end of June, according to the latest quarterly figures from the Australian Prudential Regulation Authority (APRA).
