Australia’s godfather of open banking, Scott Farrell, has been added to FinTech Australia’s Hall of Fame at the annual Finnie Awards.
For the second year in a row, the awards have been shared widely, with small business lender Lumi the only company to receive more than one award, taking home Best Workplace Diversity and Emerging Leader of the Year.
Payments firm Zepto was named FinTech Organisation of the Year, with another SME lender, Citoplus, taking home Emerging FinTech Organisation of the year.
The awards recognise achievement in the Australian fintech industry.
FinTech Australia General Manager Rehan D’Almeida said the breadth of winners confirmed that the industry has hit a new level of maturity where there’s achievement across the board.
“With that in mind, we want to congratulate the winners and finalists on what is a sought-after award. Over a 100 judges sorted through 300 high calibre entities, from over 250 companies to find these winners,” he said.
Paul Weingarth from Slyp was named Outstanding FinTech Leader of The Year. Dr Lili Sussman from Wisr won Female FinTech Leader of the Year and Lumi’s Paul Pagnan won Emerging FinTech Leader of the Year.
King & Wood Mallesons partner, Scott Farrell was recognised for his role as author of the landmark Treasury review into the Australian payments system, under former Coalition government, which pathed the way for the introduction of open banking under the Consumer Data Right
D’Almeida paid tribute to Farrell as father to a new generation of fintechs.
“Many companies in this industry would not exist without Scott’s dedication towards guiding — and at times championing — the policy discussion on the consumer data right, payments and other fintech-related policies in Australia,” he said.
“Scott dedicated himself to achieving balance in any policy discussion and attaining outcomes that both protect consumers and allow businesses to thrive.
“This award recognises his enduring mark on the Australian fintech industry and his current work taking our experiences global and guiding other countries on how to set up similar policy frameworks.”
Farrell joins Reinventure’s Simon Cant as the second individual in the category, alongside Australian fintech unicorns, Airwallex and Afterpay.
FinTech Australia 2023 Finnies Winners
BEST WORKPLACE DIVERSITY: Lumi
EXCELLENCE IN ESTABLISHING GLOBAL MARKET PRESENCE: Data Zoo
EXCELLENCE IN INDUSTRY COLLABORATIONS & PARTNERSHIPS: MYOB & BUTN
EXCELLENCE IN BUSINESS LENDING: Prospa
EXCELLENCE IN CONSUMER LENDING: Athena Home Loans
EXCELLENCE IN PAYMENTS (inc. remittance/FX): Wise
EXCELLENCE IN BLOCKCHAIN/DISTRIBUTED LEDGER: Civic Ledger
EXCELLENCE IN CRYPTO AND DIGITAL CURRENCIES/WALLETS/EXCHANGES: Crypto.com
EXCELLENCE IN INSURTECH: Honey Insurance
EXCELLENCE IN REGTECH: Biza
EXCELLENCE IN WEALTH MANAGEMENT (inc. PFM & robo): Life Sherpa
EXCELLENCE IN OPEN DATA: Frollo
POSITIVE IMPACT AWARD: Brighte
EMERGING FINTECH LEADER OF THE YEAR: Paul Pagnan, Lumi
FEMALE FINTECH LEADER OF THE YEAR: Dr Lili Sussman, Wisr
OUTSTANDING FINTECH LEADER OF THE YEAR: Paul Weingarth, Slyp
EMERGING FINTECH ORGANISATION OF THE YEAR – People’s Choice Award: Hello Clever
EMERGING FINTECH ORGANISATION OF THE YEAR: Citoplus
FINTECH ORGANISATION OF THE YEAR – People’s Choice Award: Hnry
FINTECH ORGANISATION OF THE YEAR: Zepto
HALL OF FAME: Scott Farrell