in India

19 Fintech in India - A global growth story
Australia
Australia has an emerging fintech start-up ecosystem,
and has recently started gaining substantial attention
from government and venture capitalists 11 .
Entrepreneurial & Innovative mindset
Government incentives
Technology readiness
Israel has emerged with strong fintech ecosystem, with
more than 500 active start-ups registered in 2015. This is
primarily driven by their legacy of innovation and technology.
This has been coupled with strong overseas investor
interest, presence of more than 14 global innovation
centres, three global fintech hubs, an organized financial
sector and steady policy support. Tel Aviv has launched
multiple international events to provide a global platform to
Israeli start-ups, which are presided by celebrity Israeli
entrepreneurs to keep engaging the right audience in the
world forum.
Regulatory support
Business environment
Singapore
Funding
Source: Internal KPMG Analysis, 2016
Nascent Emerging
Mature
Singapore is attracting investors and foreign industry
players along with extensive government support
and expertise of corporate mentors to position itself
as an international leader 13 .
Australian fintech start-up community is quietly
growing into a major player in the global fintech
ecosystem, with 14 per cent of the global funding
raised flowing into Australia. With a robust financial
sector (third largest in fund management globally) that
is larger than many Asian and European counterparts in
size, it has a strong breeding ground for domestic
consumption of emerging fintech capability. The quality
and availability of young, diverse tech-savvy talent
along with sophisticated financial services expertise
makes the country a favourable location for setting-up
fintech start-ups.
Entrepreneurial & Innovative mindset
Government incentives
Technology readiness
Regulatory support
Business environment
Funding
Nascent Emerging
Mature
Israel
Israel uses indigenous technology skills and a strong
network of foreign investors, providing favourable
environment to foster fintech innovations 12 .
Entrepreneurial & Innovative mindset
Government incentives
Technology readiness
Regulatory support
Business environment
Funding
Source: Internal KPMG Analysis, 2016
Singapore has framed a cohesive regulatory structure
specific to fintech. The country has a strong standing
in the major sectors forming the backbone of fintech,
i.e., financial services, technology and telecom that
collectively contribute significantly towards building a
strong digital infrastructure. International
entrepreneurs and banks have set up their local Asian
units in Singapore, bringing in global expertise and
experience.
Fintech innovation is flourishing in Singapore primarily
driven by the global talent attracted to live and base
themselves there. Singapore is gradually morphing into
a major Asian start-up hub of immigrant talent building
regional/global business ventures. All of this has
resulted in Singapore’s top rank on the ease of doing
business 13 .
Nascent Emerging Mature
Source: Internal KPMG Analysis, 2016
11 Unlocking the potential:opportunities for Sydney, KPMG, 2014.
12 Geektime website, http://www.geektime.com/2016/01/11/annual-report-2015-start-ups-andventure-capital-in-israel/
accessed on 26 May 2016.
13 Global Start-up ecosystem Ranking 2015, Compass, August 2015.
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