Westpac leads the Fintech investment charge

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Westpac leads the Fintech investment charge

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Westpac leads the Fintech investment charge
Australia’s largest banks have been very active in the fintech market.
This report explores the investments that they have made and considers their contrasting approaches to those investments.
Between them, the Big Four Australian banks have invested over $A200mn in fintechs since 2014. Despite all having made investments into fintech start-ups, each bank has utilised a different investment strategy. Westpac has been the clear front-runner, investing over $A140mn in local fintech companies.
The Big Four have followed quite different Fintech investment strategies so far. Westpac is by far and away the most committed, putting money into the eco-system directly, through a venture fund. Almost all this investment has been in local companies. Westpac has tended to invest small amounts into many different fintechs, spreading their investment to reduce risk.