READ THE AUSTRALIAN REPORT ►
Crisis as an opportunity: Australia
BDO is proud to release their series, Rethink Fintech: crisis as an opportunity, in this Australian perspective.
Over the coming period, we will be sharing a country-by-country analysis on the current and future state of Fintechs.
These publications aim to give Fintechs the knowledge to best position themselves for the opportunities that lie ahead. This page will also be a useful resource tool, with upcoming webinars and Insights for Fintechs, including deep dives into subsectors – as we navigate the changes together.
About RETHINK FINTECH
Over the last few months, we’ve seen the effect of COVID-19 on markets, the economy, and industries, with many businesses asking – what’s next?
BDO have developed a RETHINK model to assist companies overcome the short-term fallout of COVID-19 and prepare to grasp the opportunities that await on the other side.
For Fintechs, there’s a mix of new opportunities and challenges. Increased financial digitisation and digital transformation are among new opportunities, while the general economic slowdown and changing funding and market dynamics lead to increased challenges.
Most Fintech companies are still in – or just exiting - a REACT phase, working through the initial ramifications of COVID-19, safeguarding their business, and addressing immediate risk factors such as changes in cash flow.
Companies and sub-industries will then move into a RESILIENCE phase, looking to build out risk mitigation and growth initiatives such as business continuity planning, permanent remote working strategies, and access to growth funding.
Such initiatives play a pivotal part in being able to REALISE the opportunities that trends such as increased digital transformation and a push toward cashless transactions present for Fintech companies across the globe.
A global perspective
In this first global edition, BDO’s team of Fintech experts present some of the challenges facing Fintech companies, provide guidance on how to overcome them, and discuss how to prepare, to best grasp the future opportunities that await.