ANZ announces partnership with fintech hub
(16 September 2015 – Australia) ANZ Bank has announced corporate partnership with York Butter Factory, a technology incubator based in Melbourne.
Founded four years ago by Adventure Capital, York Butter Factory will partner with the bank to help support and develop financial services start-ups in Australia.
Stuart Richardson, managing partner of Adventure Capital and the hub’s founder, said the partnership would allow York Butter Factory to further develop the size and number of fintech opportunities in the Australian market.
Speaking to The Australian, Mr Richardson said “We want to build an environment in Australia that supports innovation, technology and entrepreneurial thinking — and success of incubators like ours will help keep Australia globally competitive as a destination for tech start-ups.”
ANZ’s chief technology officer Patrick Maes added “Our industry is facing many challenges as a result of disruptive technologies and the emerging demands from customers for new and innovative ways to bank,”
“We need to adapt quickly and address the changing needs of our customers — we can’t discount any solution and need to view all digital innovations as potential opportunities.
“For ANZ, this partnership is about supporting the fintech sector in Australia, embracing innovation and collaborating with all parties to explore future possibilities, which will lead to a positive outcome for customers, communities and economies.”
The news follows the recent launch of Sydney-based FinTech hub Stone and Chalk, which is also backed financially by ANZ.
That hub’s partners include ANZ in addition to Woolworths, KPMG, HSBC, Macquarie Group, Suncorp Bank, Westpac Banking Corp and AMP. Stone and Chalk expects to be house around 200 startups by the end of this year.
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