Finzsoft joins new fintech hub

Finzsoft Solutions Limited (NZX:FIN), a Silverlake Axis Group Company, is a founding corporate partner of Australia’s new fintech hub "Stone and Chalk". The vision for creating a physical fintech hub in Sydney to support start-ups grow and succeed is three steps closer to reality today, with the announcement of its location, Chair and corporate partners by the NSW Premier Mike Baird.

Stone and Chalk is an independent, industry led initiative that brings together fintech entrepreneurs, VCs, corporates and the NSW government to incubate and nurture financial services-focused start-ups. New Zealand banking and finance software company Finzsoft joins Stone and Chalk as the only New Zealand-based FinTech institution to be a founding corporate partner, alongside financial heavyweights including Westpac, Macquarie Bank, ANZ, HSBC, IAG, American Express, Veda and KPMG.

Finzsoft Group Sales Director, Paul Doig says it is critical for the Australasian industry to come together to foster and accelerate the development of world-leading fintech start-ups from the region.

"Fintech is a global phenomenon that has already ramped up in other markets. The launch of Stone and Chalk gives us the opportunity to build an eco-system in this part of the world that captures the innovative capabilities of New Zealand and ensures inherently regional opportunities are won by local entrepreneurs," says Doig.

"New Zealand is a small market for companies that provide specialised software, but our more successful software companies typically sell high volumes overseas. As a New Zealand-based company that has successfully expanded into other markets and attracted the investment of a world leading provider of digital economy solutions, we are committed to supporting the export of New Zealand’s fintech capabilities internationally, and attracting talent and capital to the region."

Finzsoft has seen significant growth out of the Australian market with continued substantial work orders from St. George Bank, a division of Westpac Banking Corporation. In 2014, Finzsoft attracted investment from Silverlake Axis. Finzsoft is now part of Silverlake Axis Group Limited (SAL) as the takeover by the Kuala Lumpur based leader in digital economy solutions went unconditional yesterday. Together, Finzsoft and Silverlake Axis will deliver new digital economy offerings throughout Asia-Pacific.