Gadens & NAB Industry Panel | 4 June 2025
Australia’s Payments Landscape is Experiencing Unprecedented Change.
At the recent “Payments Unplugged” panel, hosted by Gadens and NAB, experts from across fintech, venture capital, and banking came together to unpack the trends and tensions shaping the sector’s future. The key message? The next chapter for Australian fintech will hinge on striking the right balance between regulatory clarity, investor confidence, and sustained innovation.
Key Insights from the Panel - Regulatory Reform: Too Slow to Catch Up?Rehan D’Almeida, CEO of FinTech Australia, expressed frustration over the pace of regulatory change, describing it as a “handbrake” on innovation. Despite strong rhetoric from the Labor government supporting fintech, outdated legislation and slow-moving policy reforms continue to limit industry growth.
Chris Adams, MD of Five V Capital, echoed this concern, warning that prolonged regulatory uncertainty risks deterring investment at a crucial time for scaling startups. A suite of reforms—including privacy legislation, licensing adjustments, and an expanded RBA remit—is on the horizon, but timelines remain vague. The upcoming Productivity Commission report, due in September, is expected to shape licensing frameworks, yet the industry is still waiting for more concrete action.
Investor Confidence Hinges on Certainty
Investor appetite is cooling in the face of ambiguity. Both Adams and Sinéad Lynch, Partner at Gadens, noted that VC and PE firms are increasingly cautious about fintech ventures that straddle complex regulatory zones.
While ESVCLP structures remain appealing, Lynch emphasised the need for founders to map their business models carefully. “Understanding whether you’re a financial product, a PSP, or a rails-only provider is critical to navigating AFSL requirements and future-proofing compliance,” she remarked.
Innovation vs Legacy: Who Wins?
Phoebe Haberley, Associate Director at NAB, acknowledged the duality of Australia’s banking sector. While NAB is investing in innovation through ventures like Fat Zebra, she noted that legacy systems and organisational inertia remain barriers to true agility.
For fintechs, securing senior bank debt continues to be challenging—particularly for businesses built on recurring revenue models without extensive financial histories. This has created opportunities for corporate venture arms like Fiserv Capital to move faster, supporting digital transformation where traditional banking has lagged.
Fast Payments, Fraud, and Consumer Education
Australia’s advanced real-time payments network is both a strength and a vulnerability. With speed comes heightened risks: fraud, chargebacks, and operational gaps in governance frameworks. The panel called for updated controls and stronger collaboration between regulators and providers.
Consumer adoption of fintech services is another key hurdle. Despite high mobile penetration and widespread tap-to-pay usage, engagement lags behind potential. Building trust through usability, transparency, and robust consent mechanisms will be crucial.
Privacy and Trust: The Next Battleground
“Privacy is no longer just a compliance issue - it’s the foundation of consumer trust,” Lynch remarked. As digital wallets and non-bank providers multiply, transparency and privacy-by-design practices are becoming critical differentiators. Organisations adopting ISMS standards and proactive data governance will gain a clear edge in winning over cautious consumers.
The Road Ahead: Build Faster, Safer, Smarter
Australia’s fintech sector stands at a critical juncture. Innovation is accelerating, global competition is intensifying, and regulatory change is imminent. The challenge for industry leaders is clear: deliver cutting-edge solutions that inspire confidence among investors and consumers alike—without compromising on safety or trust.
As Haberley concluded, “The players who succeed will be those who can marry speed and compliance with a relentless focus on customer needs.”
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At Roilti, we help businesses navigate regulatory change with confidence. From risk frameworks to customer engagement strategies, we support organisations in building smarter, safer transactional systems for the next era of fintech.