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‘Brain gain’: PM makes the pitch for Australia as Fintech hub.

By Australian Fintech

Scott Morrison has renewed his pitch for international business leaders to relocate to Australia, part of a post-COVID-19 “brain gain” plan targeted at the booming fintech sector.

Addressing the Singapore Fintech Festival via video link on Monday evening, the Prime Minister said the potential for innovation was only limited by imagination – declaring Australia a natural home for the sector.

Fintech – start-ups using technology to build early-stage financial service businesses – is set to be worth more than $4 billion to the Australian economy.

“We need more highly skilled people to develop and commercialise the next wave of cutting-edge innovations,” Mr Morrison told participants.

“Some countries are worried about the brain drain, we’re focused on the ‘brain gain’. That’s about attracting talent and global businesses to Australia.

“This can be your place of great success as it has been for millions over many generations.”

Describing Australians as “keen adopters”, he said it was easy to create new customer bases in the country, name checking firms including Atlassian, Afterpay and Judo Bank.

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