"At the recent World Economic Forum it was noted that 90 per cent of the data we use today has been created in the past two years. The ability of new technology to capture and process big data is changing how we do business and the way consumers use products and services. Financial technology – or FinTech – is transforming our financial system and potentially our entire economy and it’s not just about digitising transactions. Just as the internet has empowered people around the globe through access to information, financial technology is reducing information asymmetry in the marketplace and thereby helping to mitigate risk and promote the efficient allocation of scarce resources." Read more
The Hon Scott Morrison, Treasurer
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