5 Benefits of the UK Government and Australia Fintech Agreement: Every passing year the Fintech industry seems to expand more around the world. In fact, the world is moving more towards that industry and there is nothing anyone can do to check that. The UK and Australia have not been without benefits of some sort from this industry.
Take, for example, the UK’s Fintech firms generate about £7 billion annually. Just last year alone, these companies raised about £1.3 billion in investments. The Australian government may not be able to boast of the same vast sums, but they have also benefitted nonetheless. In Australia, the investment in Fintech companies for the year 2016 was about US$656 million. Not as huge but equally impressive.
So how does this agreement benefit both countries? Does the UK really benefit at all, especially as its investment volume is almost thrice that of Australia? The answer to the last question is yes. The benefits will be outlined below.
The partnership will lead to bigger international exposure for both countries. The UK may do have a larger investment volume now, but that can grow even bigger with proper international exposure. Australia has already shown its intention to expand globally by partnering some other countries to improve its Fintech industry.
Recently the Australian government partnered with the Dubai government to bring this dreams to reality. In the partnership between UK and Australia, both parties bring a lot to the table.
Better regulatory policies. The partnership will put to work the regulatory agencies in both countries to search out the best policies for the operation of FIntech companies. These policies will be friendlier to international Fintech companies as it will cover a wider scope. It will also be better than just a country working alone, two good heads they say.
Both countries will be able to get faster access to information. The information flow will be smoother between the two countries because of this agreement.
Both countries will be able to build their investment volume, as they will be able to quickly identify emerging Fintech trends and create an environment that will favour Fintech startups in both countries.
Bilateral trade will also be improved between the two countries. More trade means more money to both countries, more money means a better economy.
