Home topics news News Startup News The Fintech sector’s median revenue has tripled but gender imbalance persists, EY report finds James Harkness November 6, 2017 Median revenue in Australia’s fintech sector has jumped by 208% over the 12 months to June 2017, with one in four companies (24%) enjoying a revenue boost of at least 700%, the 2017 EY FinTech Australia Census reveals. According to EY, the Census, which is based on survey results from 166 fintech companies, is “the only comprehensive industry-backed analysis of the Australian fintech industry”. It builds on another research report, the 2017 EY FinTech Adoption Index, which in June 2017 found that Australia has leap-frogged Hong Kong, Singapore and the US to have among the best fintech market penetration in the world – specifically, 37% of Australia’s digitally active population are now fintech users, compared to 13% in 2015. Other key findings from the latest report include: Revenue increases were particularly pronounced among companies less than three years old. Overseas expansion is a 12-month priority for 54% of companies, up from 38% in the 2016 census, with the main targets for expansion being the UK (49%), Singapore (40%), the US (38%), New Zealand (27%), Hong Kong (22%) and Canada (22%). Improvements to the research and development initiative (87% support), government mandated open data controls (85%), capital gains tax relief (85%), reduced payroll and other taxes (83%) and more transparent access to the New Payments Platform (82%) are industry growth initiatives with the most support from