Fintech entrepreneurs fill education gap

fintech-australia/fintech/

4 November 2016
| By Hope William-Smith |
image
image
expand image

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."

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 1 week ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

3 weeks 2 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

2 weeks 1 day ago

One licensee has lost 27 advisers in the past week, now sitting at zero, according to the latest Wealth Data figures....

3 weeks 2 days ago

TOP PERFORMING FUNDS