Australian Fintech Sector to Be Worth $71 Billion by 2035

Australia’s fintech sector currently supports more than 109,200 full-time jobs and revenue could grow to be worth $71 billion within the next decade. It will contribute $37 billion to the country’s gross domestic product (GDP) by 2035, a new analysis conducted by Deloitte Access Economics in partnership with FinTech Australia has found.

The report is the first national study to measure the overall economic contribution and employment contribution of the Australian fintech industry. It draws on survey data from 63 fintech businesses, case studies with leading Australian fintechs, and economic modelling of more than 580 fintechs nationwide.

It found that fintech currently contributes $13.6 billion in direct value added to the Australian economy — equal to 0.5 per cent of GDP. Its direct economic footprint is already comparable to private hospitals ($14 billion) in size. For context, the broader finance and insurance sector contributes around 7.5 per cent of GDP, according to the Reserve Bank of Australia.

With the right policy and investment settings, the sector could expand at an average annual nominal growth rate of around 10 per cent, positioning fintech as one of Australia’s fastest-growing industries.

However, the research also notes that access to capital remains one of the biggest barriers to growth, with nearly one-third of fintechs citing it as their top challenge. This underscores the need for continued investor confidence and supportive policy to sustain expansion and innovation across the ecosystem.

“Fintech has emerged as one of Australia’s quiet economic success stories, and with the right policy settings, it could become a major export for Australia,” Rehan D’Almeida, CEO of FinTech Australia said.

“If we can strengthen capital access, simplify R&D support and invest in digital infrastructure, fintech could easily become a $71 billion industry within a decade; driving jobs, exports and global competitiveness at a time our economy needs it most.”

“This quantified contribution underscores our work as the peak industry body advocating for the sector and stewarding its growth. It’s landmark research for our industry.”

Deloitte Access Economics partner John O’Mahony noted that: “While the report finds that the economic contribution of the Australian fintech sector is substantial today, it plays an equally if not more important role in lifting the efficiency of the broader financial sector. Fintechs drive innovation and competition which is critical to both productivity growth and broader social objectives like supporting small businesses, improving choice and helping Australians access the housing market.”

Key findings:

• The Australian fintech sector contributed $13.6 billion in 2024–25 in direct value to the economy, equivalent to 0.5% of GDP. Its direct contribution to GDP could grow to $37 billion by 2035.
• The sector employs 50,200 FTE directly and supports a total of 109,200 FTE jobs including upstream supply chains.
• It encompasses more than 800 fintechs operating across 13 subsectors, including digital payments, lending, InsurTech, WealthTech, RegTech and digital identity.
• The majority (78%) of fintechs operate as B2B or B2B2C providers, embedding technology within other industries.
• Fintechs identified their strongest areas of impact as improving business productivity (79%), driving innovation (77%) and enhancing consumer outcomes (66%).

• Around half also cited financial inclusion and system integrity as key areas where they deliver broader social and economic value.

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