FinTech Australia welcomes national Financial Innovation Strategy
MELBOURNE, Sep 3: FinTech Australia has welcomed the Government’s national Financial Innovation Strategy, launched today by Assistant Treasurer and Minister for Financial Services Dr Daniel Mulino MP at Intersekt 2026 in Melbourne.
The strategy, a response to the independent Enhanced Regulatory Sandbox review led by Maha El Dimachki, sets out a coordinated national agenda for an innovative, resilient and trusted financial system that harnesses technological change to support productivity and economic growth.
FinTech Australia chair and DAS (Digital Agriculture Services) co-founder Sarah Gorman said:
“We’ve always considered fintech in this country as a force for good, an industry that can align with key government objectives such as a more dynamic and competitive economy, trusted data sharing and innovation that benefits consumers,” Gorman said.
“Today’s announcement is an acknowledgment that we must respond to a rapidly evolving global landscape and shows a willingness to work with the ecosystem to remove the barriers preventing further progress on key areas of fintech.
“We’re incredibly proud that Intersekt fintech festival is playing host to this major announcement, and look forward to working with regulators on implementing this strategy.”
FinTech Australia CEO Rehan D’Almeida said the strategy provided an important foundation for closer coordination between government, regulators and industry.
“Maha El Dimachki’s review made a compelling case for a broader national strategy and more effective pathways from testing to market. The Government has listened and acted. Today’s launch is an important response to that recommendation, and the commitment to modernise the sandbox framework is particularly welcome,” D’Almeida said.
“The new Financial Innovation Committee can provide a focal point for identifying barriers early, coordinating interconnected reforms across government and ensuring Australia keeps pace with international developments,” D’Almeida said.
“Minister Mulino has signalled that the Government is committed to supporting Australia’s fintech sector. The test will now be implementation. Australia needs timely legislation and guidance, genuinely proportionate regulation, and programs that allow startups and established firms to test, commercialise and scale new services with confidence.
“Launching the strategy at Intersekt sends a strong signal that industry will be central to this work. FinTech Australia looks forward to working with the Government and regulators to turn the strategy into practical outcomes for consumers, businesses and the broader economy.”
Key initiatives outlined in the strategy include:
Modernising Australia’s regulatory sandbox framework
Progressing reforms across the Consumer Data Right, digital assets and payments licensing
Laying groundwork for thematic sandboxes, including for AI-enabled financial services and digital financial market infrastructure
Developing options for taxpayers to share ATO-held tax data through the CDR
Consulting on a new Strategic Plan for Australia’s Payments System in the final quarter of 2026
Establishing a Financial Innovation Committee to bring together government, regulators and industry
In his opening address to Intersekt, D’Almeida said fintech is now recognised as the embedded infrastructure across the global economy with $13.7 billion directly contributed to the Australian GDP and over 50,000 jobs across the country.
“It took a decade to get here. Now we have to look to the next one, and it starts with sovereignty: a resilient financial system underpinning Australia’s digital economy that is owned, and built by Australia.
“To do this we need government, banks, financial institutions and technology providers building together, starting with pilots and real use cases. Fintechs are ready to participate and lead, and this strategy gives us a clear benchmark to keep accountable to across government, regulators and industry.”
About FinTech Australia
FinTech Australia is the not-for-profit peak industry body for the Australian fintech sector, representing over 400 fintech companies and startups across the nation. FinTech Australia’s vision is to make Australia the leading market for fintech innovation and investment by working with both sides of government, industry and the Australian fintech community to create a supportive environment and partner ecosystem in Australia and abroad.
