Fintech opportunities across the country are ripe, with NSW in a solid position to take them up, says Abrahams.
Norton Rose Fulbright partner, Nick Abrahams, the global firm’s APAC head of technology and innovation believes that NSW is primed to be a major player in the emerging fintech space.
Following a fintech specialist’s discussion with experts from New York and Los Angeles in partnership with the NSW government recently, Abrahams is confident that forging international fintech friendships is boosting opportunity for NSW.
“Fintech will revolutionise financial services. Australia is ideally placed to be a major player in this disruption,” he said, citing NSW’ strong financial services companies and technology culture.
“The question about fintech is…will the big banks, super and insurance companies adopt it and enhance their already strong market positions?”
The collaboration event was opened by Stuart Ayres, NSW Minister for Trade, who said that NSW is natural home for innovation.
“Australia’s capacity to protect intellectual property, its strong rule of law basis and access to talent, means that Australia and Sydney in particular, is a natural home for innovation,” he said.
“Adding leading fintech businesses into our ecosystem is a critical part of our growth strategy both in terms of direct job creation as well as enhancing our thriving, innovative economy.”