How Cape is Driving Innovation as a FinTech Australia Member

Lauren Crawford, Head of Growth at Cape

I knew we were onto something special from the moment I joined the Cape team in February 2022. I had been watching Ryan, and the team take Cape from the seed of an idea to a scaling company in just over a year and have been thrilled to help the business secure and onboard our first customers.

Cape has big plans to revolutionise the way businesses manage cash flow. That's why I'm so proud to announce that Cape is now a FinTech Australia member, the peak advocacy body for Australia's fintech industry.

Our team is passionate about having a voice in fintech policy decisions, connecting with other leaders in our industry, and shaping the future of fintech in Australia. While our country's supportive regulatory environment has allowed fintech to thrive, we know how important it is to continue pushing for investment, development, and innovation in Australia's fintech ecosystem.

Why Cape is proud to be a FinTech Australia member

FinTech Australia is a member-driven organisation committed to advancing and growing Australia’s fintech community. Through engaging and connecting with partners, advocating for fintech organisations, and strengthening our fintech ecosystem, FinTech Australia has helped to shape major policy decisions over the past six years. 

Since 2016, FinTech Australia has helped drive change, foster connections, and support innovation for Australia's booming fintech ecosystem. Take this example: in 2016, they partnered with EY to launch the FinTech Australia Census, a national survey of fintech startups in Australia and the challenges they face in compliance and licensing.

This latest survey of 145 fintechs shows that 82% of Australia's fintech startups met or exceeded their capital raising expectations in 2021. This hard data helps FinTech Australia drive meaningful change through their advocacy work and help more companies expand and scale.

The Cape team and I are thrilled to be adding our voices to the conversation as FinTech Australia members. We know this peak professional body is helping our entire industry succeed by driving regulatory and legislative change in Australia.

Plus, joining as a FinTech Australia member means our team at Cape will be able to stay one step ahead of any upcoming regulatory changes, too. 

How FinTech Australia is driving real impact for FinTech innovation

Australia has one of the fastest-growing technology sectors in the world. Over 800 fintech companies are currently operating in Australia, estimated to be worth over $4 billion.

FinTech Australia acts as a powerful voice for our industry. Not only do they connect startups and industry partners, but they work closely with the Australian government to drive policy decisions that will accelerate innovation in financial services. 

As FinTech Australia’s General Manager Rehan D’Almeida explains, “Australia is leading the charge as a hub for true innovation in the industry with a number of globally recognised companies. We engage regularly with all the stakeholders so that the new regulations put in place continue to promote this innovation and also protect consumers and businesses. We also support greater industry convergence and more collaboration with established financial services institutions, big techs, retailers and other industry players.”

As someone who has worked in a number of Australia's fastest-growing fintechs, I know how important it is for government and industry to work together to ensure consumer uptake and economic growth. In fact, FinTech Australia has produced over 25 submissions for its over 300+ members and had some major advocacy wins, including:

  • Being an avid supporter of the expansion of the Consumer Data Right in Australia to include things like Open Insurance and Open Superannuation.
  • Pushing the Government to investigate the current landscape for digital identity verification services and how these could negatively impact the pace of fintechs being able to scale B2B digital advice offerings.
  • Demonstrating strong industry support for competition and innovation in the payments space in response to the RBA’s Review of Retail Payments Regulation Consultation. 

Australia’s fintech industry is outpacing the rest of the world, showing just how important organisations like FinTech Australia are to the growth and success of our fintech ecosystem.

Being recognised as a leader in Australia’s FinTech ecosystem

I'm proud to see Cape recognised as a leader in our industry by the likes of FinTech Australia. We were recently named the winner of the Emerging Fintech of the Year award at the 2022 FinTech Awards.

Plus, our very own CFO and COO, Tanya Ward was named a finalist in the year’s Female FinTech Leader of the Year category at The Finnies after just one year with us. 

At Cape, we’re reinventing expense management software to put businesses back in control of their cash. We were born out of the pandemic and want to help business owners adjust to post-pandemic life with the tools they need to save time and money. 

I can’t wait to see what decisions and policies we help shape as a FinTech Australia member and look forward to connecting and sharing ideas with other leaders in Australia’s fintech ecosystem.