Independent financial data source, InvestmentLink, today announced the establishment of a data grant to support emerging fintech companies.
A grant providing access to more than 600 data feeds and 500 live accounts will be made accessible to emerging Australian fintech companies, thanks to InvestmentLink.
InvestmentLink chief officer, Wayne Robinsons, said that fintechs could benefit greatly from the grant, and had the potential to secure them a future foothold in the Australian finance market.
“There are a number of emerging companies that have the potential to make a very serious impact on the market and deliver real innovation to consumers,” he said.
“Given the financial constraints that most start-ups face, we are hoping that access to the most comprehensive data feed in Australia at no cost, for a limited period, will provide a real boost.”
Robinson stated that the lack of available in-budget resources for start-ups made it difficult for fintechs to deliver their potential impact on the market, with the data grant aimed at helping open the door for finance innovation.
“Given the nature of the Australian market, particularly the dominance of the major players, they face a number of challenges – one of them, getting access to sufficient data to be able to demonstrate what they can offer the market,” he said.
“We are excited by what we see in the Australian fintech space.”