Over the past few weeks, we analyzed prominent banks active in the FinTech investment space in various regions. In this article, we’ll focus on Oceania—a region where FinTech has registered incredible growth because of the tremendous support from regulators and incumbents in the ecosystem. We will focus on the top banks—Westpac, National Australia Bank, ANZ, and CommBank—that have been investing in FinTech startups for the past three years.
FinTech startups in Oceania have received $2.54 billion in investments since 2018. Compared to 2018, FinTech investments in 2019 grew by a staggering 417%. In 2020, however, investments declined sharply by 47.6% due to the COVID pandemic.
Westpac, a leading Australian bank, has been actively investing in FinTech startups for the past three years. It is the first Australian bank that launched its corporate venture capital firm, Reinventu …