Melbourne’s position as the Tech City of Australia has been endorsed once again with Fintech Australia recently announced it will be moving its headquarters from Sydney to Melbourne.

The move for the peak body for Australia’s financial technology sector will also see Melbourne host the industry’s annual national awards. The ‘Finnies’ celebrate the achievements of Australia’s fintech businesses in areas such as payments, crowd-funding, lending, wealth management, blockchain and artificial intelligence.

Financial services represent the largest sector of the Victorian economy, employing more than 120,000 people and contributing $47 billion per annum.

As new technologies change the way the financial services industry operates, the Victorian Government is investing in the sector while providing opportunities for companies to leverage the market and grow their footprint here. Now Victoria is home to a fast-growing number of internationally successful fintech companies including Afterpay, Square, Airwallex, Assembly Payments and Pepperstone.

Fintech Australia will join Stone & Chalk at the Victorian Innovation Hub in Docklands, which also houses start up accelerators SproutX, Startmate, the Medtech Actuator and Victoria’s start-up agency, LaunchVic.

Of the move, General Manager of Fintech Australia Rebecca Schot-Guppy says

“Melbourne is a natural fit for FinTech Australia. Collaboration across the financial services industry is key for fintechs and we hope to better facilitate this with our move to Australia’s Tech City and the Victorian Innovation Hub.”