{"id":11615,"date":"2021-03-25T03:38:10","date_gmt":"2021-03-25T03:38:10","guid":{"rendered":"https:\/\/innotech-vn.com\/?p=11615"},"modified":"2021-03-26T09:49:48","modified_gmt":"2021-03-26T09:49:48","slug":"offshore-fintech-software-development-for-australian-companies","status":"publish","type":"post","link":"https:\/\/innotech-vn.com\/vie\/offshore-fintech-software-development-for-australian-companies\/","title":{"rendered":"Offshore fintech software development for Australian companies"},"content":{"rendered":"<p>2020 has been an exploded year for Australia\u2019s fintech market, with more than 100 fintechs added since September 2019.\u00a0 In 2021, those fintech companies may continue to expand their business and <strong>offshore fintech software development<\/strong> is the best solution for their development.<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>The Australian fintech market in 2020<\/strong><\/h2>\n<p>&nbsp;<\/p>\n<p>2020 is an exploded year of Australia&#8217;s fintech market, with more than 100 new fintech companies appeared. As <a href=\"https:\/\/home.kpmg\/au\/en\/home\/insights\/2017\/08\/australian-fintech-landscape.html\">a report of KPMG<\/a>, there are 733 fintech companies operating with 4 key insights:<\/p>\n<ul>\n<li>The maintaining improvement of Insurtech<\/li>\n<li>The interest in technology asset class has encouraged the Growth in Blockchain and Cryptocurrency-associated fintech<\/li>\n<li>An increase in Buy-Now-Pay-Later providers, as well as, the increasing number of fintech companies within the lending category<\/li>\n<\/ul>\n<p>The continued evolution of the neobank sector, even though a number of neobanks have been impacted by delays to APRA\u2019s licensing process (expected to restart from March 2021)<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11619 size-full\" src=\"https:\/\/innotech-vn.com\/wp-content\/uploads\/2021\/03\/KPMG-Australian-fintech-landscape-changes-2019-2020-via-KPMG.png\" alt=\"Offshore Fintech software development \" width=\"696\" height=\"1020\" srcset=\"https:\/\/innotech-vn.com\/wp-content\/uploads\/2021\/03\/KPMG-Australian-fintech-landscape-changes-2019-2020-via-KPMG.png 696w, https:\/\/innotech-vn.com\/wp-content\/uploads\/2021\/03\/KPMG-Australian-fintech-landscape-changes-2019-2020-via-KPMG-205x300.png 205w\" sizes=\"(max-width: 696px) 100vw, 696px\" \/><\/p>\n<p style=\"text-align: center;\"><em>KPMG Australian fintech landscape changes 2019-2020, via KPMG<\/em><\/p>\n<p>\u201cDespite the impacts of Covid-19 on the economy, increased digitization across financial services and new customer behaviors have created new opportunities for innovation,\u201d <a href=\"https:\/\/home.kpmg\/au\/en\/home\/media\/press-releases\/2020\/12\/more-than-100-australian-fintechs-added-to-the-fintech-landscape-21-december-2020.html\">said Daniel Teper<\/a>, National FinTech Lead at KPMG Australia.<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Benefits of offshore fintech software development<\/strong><\/h2>\n<p>&nbsp;<\/p>\n<h3><strong>Access to a new talents pool<\/strong><\/h3>\n<p>&nbsp;<\/p>\n<p><strong>Offshore fintech software development<\/strong> helps companies work with the best programmers, developers all around the world. Outsourcing to a good partner will give you the opportunity to work with the smartest teams, no matter where you are.<\/p>\n<p>It\u2019s also extremely convenient. Everything from development to deployment is taken care of by the outsourcing team without any need for additional training or guidance.<\/p>\n<p>&nbsp;<\/p>\n<h3><strong>Reduce Business Costs<\/strong><\/h3>\n<p>&nbsp;<\/p>\n<p>Approximately 59 percent of companies choose offshore software development to save their operating costs, as a Deloitte\u2019s research. Working with external outsourcing workers means you\u2019re paying for their services only, without the common expenses associated with in-house staff. This frees up your money for other business channels.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11635 size-full\" src=\"https:\/\/innotech-vn.com\/wp-content\/uploads\/2021\/03\/how-to-save-money-2020.jpg\" alt=\"Offshore Fintech software development \" width=\"730\" height=\"467\" srcset=\"https:\/\/innotech-vn.com\/wp-content\/uploads\/2021\/03\/how-to-save-money-2020.jpg 730w, https:\/\/innotech-vn.com\/wp-content\/uploads\/2021\/03\/how-to-save-money-2020-300x192.jpg 300w\" sizes=\"(max-width: 730px) 100vw, 730px\" \/><\/p>\n<p style=\"text-align: center;\"><em>Offshore Fintech software development to save your money<\/em><\/p>\n<p>&nbsp;<\/p>\n<h3><strong>Fast and flexible<\/strong><\/h3>\n<p>&nbsp;<\/p>\n<p>The fintech companies usually lack of time and skills to transform their product, platforms,\u2026 or bring a news one to market fast. Meanwhile, with software outsourcing, you don\u2019t need to depend on your available in-house resources for the product launch. <strong>Offshore fintech software development <\/strong>could solve this problem in a short time and deliver the end-product much faster than the in-house process.<\/p>\n<p>&nbsp;<\/p>\n<h3><strong>Better risk management and security<\/strong><\/h3>\n<p>&nbsp;<\/p>\n<p>People often advised us to diversify our investment channel rather than put all the money in one place to reduce risk. Accumulation of all processes in-house, increases chances of app mistakes, on-time delivery failure,\u2026We can decrease those risks by outsourcing several parts of the software development process to external companies.<\/p>\n<blockquote><p>Readmore: <a href=\"https:\/\/innotech-vn.com\/vie\/offshore-software-development-when-why-and-when-not\/\">Offshore Software Development \u2013 When, Why, and When Not?<\/a><\/p>\n<p>&nbsp;<\/p><\/blockquote>\n<h2><strong>Vietnam \u2013 an ideal destination for outsourcing<\/strong><\/h2>\n<p>&nbsp;<\/p>\n<h3><strong>Young and skillful developers<\/strong><\/h3>\n<p>&nbsp;<\/p>\n<p>Under 30 years old people made up 60% of Vietnam\u2019s population, while the population of Vietnam is 97 million people. The young people have been well educated, especially in STEM. Therefore, the number of software developers is increasing with high quality.<\/p>\n<p>&nbsp;<\/p>\n<h3><strong>Government support for fintech innovation<\/strong><\/h3>\n<p>&nbsp;<\/p>\n<p>State Bank of Vietnam is operating the monetary policy to maintain financial monetary stability and improve the business environment. In addition, continue to implement measures to promote non-cash payments, create conditions for fintech activities to take advantage of opportunities to develop the digital economy in Vietnam.<\/p>\n<p>&nbsp;<\/p>\n<h3><strong>Highly competitive cost<\/strong><\/h3>\n<p>&nbsp;<\/p>\n<p>As we know, one of the main goals of outsourcing is to save costs, countries with more competitive prices will have the advantage on the negotiating table. Vietnamese developer has a cost 30% lower than an Indian developer, accompanied by products of equivalent high quality and capacity power is not inferior.<\/p>\n<p>&nbsp;<\/p>\n<h3><strong>A fast-growing economy in Southeast Asia<\/strong><\/h3>\n<p>&nbsp;<\/p>\n<p>Despite the difficulties of the world and domestic trade, Vietnam&#8217;s economy in 2020 still maintains positive growth thanks to good disease control and timely policies to support people and businesses. IMF lately forecasts that Vietnam&#8217;s economy will reach 2.4% by 2020, at the highest level in the world, with inflation controlled below 4% as the target set.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11653 size-full\" src=\"https:\/\/innotech-vn.com\/wp-content\/uploads\/2021\/03\/Vietnam-FDI.jpg\" alt=\"Offshore Fintech software development \" width=\"900\" height=\"506\" srcset=\"https:\/\/innotech-vn.com\/wp-content\/uploads\/2021\/03\/Vietnam-FDI.jpg 900w, https:\/\/innotech-vn.com\/wp-content\/uploads\/2021\/03\/Vietnam-FDI-300x169.jpg 300w, https:\/\/innotech-vn.com\/wp-content\/uploads\/2021\/03\/Vietnam-FDI-768x432.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/p>\n<p style=\"text-align: center;\"><em>Vietnam is Asia\u2019s top-performing economy in 2020<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/innotech-vn.com\/vie\/\"><b>Innotech Viet Nam Corporation<\/b><\/a><span style=\"font-weight: 400;\"> is <\/span><b>a software outsourcing company focusing on high-quality services in Viet Nam<\/b><span style=\"font-weight: 400;\">. At Innotech Vietnam, We strive for the <\/span><b>creation, innovation, development, and advanced solutions<\/b><span style=\"font-weight: 400;\">. We provide a wide range of software services to meet all requirements and expectations from customers. We turn these advanced technologies into value for our customers through our professional solutions and business service worldwide.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">If you are looking for an <a href=\"https:\/\/innotech-vn.com\/vie\/software-development\/offshore-software-development\/\"><strong>Offshore Development Center<\/strong><\/a> to provide solutions for your companies, c<\/span>ontact experts at Innotech Vietnam Corporation\u00a0for any questions about\u00a0<a href=\"https:\/\/innotech-vn.com\/vie\/software-development\/banking-and-financial-services\/\">Fintech offshore software development<\/a>\u00a0questions!<\/p>\n<p>Email:\u00a0<a href=\"mailto:info@innotech-vn.com\">info@innotech-vn.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>","protected":false},"excerpt":{"rendered":"<p>2020 has been an exploded year for Australia\u2019s fintech market, with more than 100 fintechs added since September 2019.\u00a0 In 2021, those fintech companies may continue to expand their business and offshore fintech software development is the best solution for their development. &nbsp; The Australian fintech market in 2020 &nbsp; 2020 is an exploded year [&hellip;]<\/p>","protected":false},"author":2,"featured_media":11664,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[190],"tags":[],"yst_prominent_words":[354,326,203,238,619,614,638,637,634,186,620],"publishpress_future_action":{"enabled":false,"date":"2025-04-09 19:11:10","action":"draft","terms":[],"taxonomy":"category"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/posts\/11615"}],"collection":[{"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/comments?post=11615"}],"version-history":[{"count":21,"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/posts\/11615\/revisions"}],"predecessor-version":[{"id":11699,"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/posts\/11615\/revisions\/11699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/media\/11664"}],"wp:attachment":[{"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/media?parent=11615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/categories?post=11615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/tags?post=11615"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/innotech-vn.com\/vie\/wp-json\/wp\/v2\/yst_prominent_words?post=11615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}