Sydney-based fintech start-up MoneyMe has snagged a prestigious award.

MoneyMe was last week awarded ‘Fintech Startup of the Year’ at the Australian Fintech Awards, an inaugural event celebrating excellence in digital finance innovation. Chief executive Clayton Howes said that the awards was a big step for the company and achieved off the back of a recent in-house upgrade that has seen significantly reduced costs across its tech platform.

“It puts the end user of your product at the centre of every design decision, as well as the channels you choose for distribution and marketing,” said Howes of his millennial-targeted business.

“For MoneyMe, fintech has always been about harnessing intelligent technology to design consumer and business solutions that make a difference, using automation and intelligent algorithms. We’ve been committed from day one to supporting any endeavour that encourages and promotes fintech, innovation, and entrepreneurialism within Australia.”

Howes is confident that the award will continue to boost the profile of fintech start-ups across the country, especially to the often un-tapped Gen Y’ers.

“These awards recognize the revolution that is reshaping financial services across Australia,” he said.

“To have taken out the Fintech Startup of the Year award is such a huge honour, because it recognises our commitment to fintech in every aspect of how we operate, and the range of products we create and deliver for our millennial customers.”