The Finance sector's operating environment was previously characterised by record-low interest rates. Nonetheless, high inflation prompted the Reserve Bank of Australia (RBA) to hike the cash rate from May 2022 onwards. This shift allowed financial institutions to impose higher loan charges, propelling their revenue. Banks raised interest rates quicker than funding costs in the first half of 2022-23, boosting net interest margins. However, sophisticated competition and digital disruption have reshaped the sector and nibbled at the Big Four's dominance, weighing on ADIs' performance. In the first half of 2025, the fierce competition has forced ADIs to trim lending rates even ahead of RBA moves to protect their slice of the mortgage market. Higher cash rates initially widened net interest margins, but the expiry of cheap TFF funding and a fierce mortgage war are now compressing spreads, weighing on ADIs' profitability. Although ANZ's 2024 Suncorp Bank takeover highlights some consolidation, the real contest is unfolding in tech. Larger financial institutions are combatting intensified competition from neobanks and fintechs by upscaling their technology investments, strengthening their strategic partnerships with cloud providers and technology consulting firms and augmenting their digital offerings. Notable examples include the launch of ANZ Plus by ANZ and Commonwealth Bank's Unloan. Meanwhile, investor demand for rental properties, elevated residential housing prices and sizable state-infrastructure pipelines have continued to underpin loan growth, offsetting the drag from weaker mortgage affordability and volatile business sentiment. Overall, subdivision revenue is expected to rise at an annualised 8.3% over the five years through 2024-25, to $524.6 billion. This growth trajectory includes an estimated 4.8% decline in 2024-25 driven by rate cuts in 2025, which will weigh on income from interest-bearing assets. The Big Four banks will double down on technology investments and partnerships to counter threats from fintech startups and neobanks. As cybersecurity risks and APRA regulations evolve, financial institutions will gear up to strengthen their focus on shielding sensitive customer data and preserving trust, lifting compliance and operational costs. In the face of fierce competition, evolving regulations and shifting customer preferences, consolidation through M&As is poised to be a viable trend for survival and growth, especially among smaller financial institutions like credit unions. While rate cuts will challenge profitability within the sector, expansionary economic policies are poised to stimulate business and mortgage lending activity, presenting opportunities for strategic growth in a dynamic market. These trends are why Finance subdivision revenue is forecast to rise by an annualised 1.1% over the five years through the end of 2029-30, to $554.9 billion

The Australia financial services market reached USD 12581.00 Billion in 2024. The market is expected to grow at a CAGR of 6.03% between 2025 and 2034, reaching USD 22594.50 Billion by 2034.

The online banking penetration rate in Australia was forecast to continuously increase between 2024 and 2029 by in total 4.1 percentage points. After the fifteenth consecutive increasing year, the online banking penetration is estimated to reach 71.28 percent and therefore a new peak in 2029. Notably, the online banking penetration rate of was continuously increasing over the past years.Shown is the estimated percentage of the total population in a given region or country, which makes use of online banking.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).

Market Size statistics on the Finance industry in Australia

The Australian Fintech market is experiencing robust growth, projected to reach a market size of $4.11 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 10.32% from 2025 to 2033. This expansion is fueled by several key factors. Increased smartphone penetration and internet access are driving wider adoption of digital financial services. Furthermore, a supportive regulatory environment and government initiatives promoting digital transformation are fostering innovation. The rising demand for convenient, efficient, and cost-effective financial solutions among consumers and businesses is another significant driver. Emerging technologies like artificial intelligence (AI) and blockchain are also playing a crucial role in shaping the landscape, enabling personalized services and enhanced security. Competition is intense, with established players like Afterpay Touch and newer entrants like Airwallex vying for market share. The market is segmented by various service offerings, including payments, lending, investment platforms, and personal financial management tools. While the growth is significant, challenges remain, including cybersecurity concerns and the need for robust data privacy regulations to maintain consumer trust. The Australian Fintech market presents considerable opportunities for both established companies and startups, particularly those focusing on niche areas and innovative solutions. The forecast for the Australian Fintech market indicates continued strong performance through 2033. The increasing adoption of open banking initiatives is expected to further fuel growth by enabling seamless data sharing and integration between financial institutions and fintech companies. The market will see increased consolidation as larger players acquire smaller firms to expand their product offerings and geographical reach. Strategic partnerships between fintech companies and traditional financial institutions will also play a key role in shaping the market's future. This synergistic approach allows for the integration of innovative technologies with the established infrastructure of banks and other financial players. The market's success hinges on continuing to address consumer concerns regarding data security, regulatory compliance, and maintaining transparency across all transactions. Furthermore, the focus on developing user-friendly, accessible, and inclusive financial solutions will be critical for sustainable growth. Notable trends are: Digital ID Framework Witnessing Growth in Australia Fintech Market.

Banks are grappling with a transition from years of loose monetary policy to tighter financial conditions. Soaring inflation prompted an RBA pivot in the face of surging energy, housing and food prices. The RBA hiked the cash rate multiple times from May 2022 to November 2023. Prior to this, banks cashed in on high residential housing prices, with low interest rates and government schemes encouraging strong mortgage uptake over the course of the pandemic. APRA also eased the interest rate buffer in 2019, before raising it in 2021. Interest hikes have pushed up banks' incomes over the past few years. Meanwhile, banks' interest deposit expenses and funding costs have also risen while elevated interest rates have dampened industry profit margins over the past few years. Overall, industry revenue is expected to expand at an annualised 9.3% over the five years through 2024-25, to $259.2 billion. This includes an anticipated slump of 8.3% in 2024-25, as inflationary pressure shows signs of easing, the cash rate easing, weighing on interest income. As banks passed on cash rate rises through higher interest rates, the RBA's policy approach has had a cascading effect on the economy. There’s a lag before these hit customers, with some fixed-rate mortgages gradually rolling over through 2023 and 2024. Banks are securing more interest income from existing loans but must manage inflated borrowing costs and bigger payouts on deposit accounts. Residential housing prices are set to stabilise, while heavy mortgage payments will price out some potential homeowners. Banks will be monitoring consumer spending amid inflationary pressures and spiralling borrowing costs. APRA has strengthened rules for managing interest rate risks, effective from October 2025. The updated Prudential Standard APS 117 requires major financial institutions to implement robust frameworks to manage these risks effectively. The big four will need to keep up with rapid technological change, managing cyber security as consumers embrace online financial services. Competition isn't easing up as smaller technology-focused firms disrupt the finance sector and foreign banks tap into the Australian market. Revenue is projected to climb at an annualised 0.3% over the next five years, to total $262.6 billion in 2029-30.

Australia trade finance market attained a value of USD 1013.00 Million in 2024. The market is estimated to grow at a CAGR of 3.80% during 2025-2034 to reach a value of USD 1470.90 Million by 2034. Australia trade finance market is driven by the expansion in export-import activities, free trade agreements with leading countries, and the growth in crucial industries such as mining and manufacturing.

During 2022, the GVA of the finance industry in Australia amounted to around 109.6 billion Australian dollars. This marked the an increase of about two and a half million Australian dollars compared to the previous year.

Market Size for Australia Auto Finance Industry Size on the Basis of Loan Disbursement in USD Billion, 2018-2024 In 2023,approximately 85% of new vehicle purchases were financed through loans or leasing, reflecting the strong role of financial services in Australia’s automotive sector. The preference for structured financing options continues to rise due to affordability concerns and flexible payment structures.Sydney and Melbourneare key markets due to their high vehicle demand and extensive automotive infrastructure. TheAustralian auto finance market reached a valuation ofAUD 130 Billion in 2023, driven by increasing demand for vehicle ownership, favorable interest rates, and a growing inclination towards electric vehicles. The market is characterized by major financial institutions such asCommonwealth Bank, Westpac, ANZ, NAB, Macquarie Bank, and auto-financing firms likeToyota Finance, BMW Financial Services, and Volkswagen Financial Services. These entities dominate the auto financing landscape, offering diverse financing options for new and used vehicles.

In 2020, the alternative finance market in Australia amounted to **** billion U.S. dollars, almost double that of the value in 2016. Australia has emerged as a leader in the alternative finance market in the Asia-Pacific region.

The APAC Banking As A Service Market report segments the industry into By Type (API Based BaaS, Cloud Based BaaS), By Service Type (Payment Process Services, Digital Banking Services, KYC Service, Customer Support Services, Others), By Enterprise (Large Enterprise, Small & Medium Enterprise), and By Country (China, India, Japan, South Korea, Indonesia, Vietnam, Malaysia, Australia, New Zealand, Rest of Asia-Pacific).

Some of the recent competitor trends and key information about competitors include: The Australian auto finance market is relatively concentrated, with major financial institutions and specialized lenders playing a dominant role. However, the emergence of fintech companies and digital lending platforms has diversified the competitive landscape, offering consumers more choices and innovative financing solutions. These institutions cater to a broad spectrum of customers, from high-income individuals seeking luxury vehicle financing to budget-conscious buyers opting for structured instalment plans. Competitive Landscape in Australia Auto Finance Market

The Australia private banking market size is projected to grow at a CAGR of 5.04% between 2025 and 2034.

Australia Employment: sa: Finance & Insurance data was reported at 564.440 Person th in Feb 2025. This records an increase from the previous number of 539.781 Person th for Nov 2024. Australia Employment: sa: Finance & Insurance data is updated quarterly, averaging 368.439 Person th from Nov 1984 (Median) to Feb 2025, with 162 observations. The data reached an all-time high of 564.440 Person th in Feb 2025 and a record low of 264.031 Person th in Nov 1984. Australia Employment: sa: Finance & Insurance data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.G021: Employment: by Industry.

The Australia commercial banking market size reached USD 217.39 Billion in 2024. The market is expected to grow at a CAGR of 3.90% between 2025 and 2034, reaching almost USD 318.71 Billion by 2034.

In Australia Retail Banking Market is projected to grow from USD 1.32 trillion in 2025 to USD 1.95 trillion by 2031, at a CAGR of 6.8%

ASIC is Australia’s corporate, markets and financial services regulator. ASIC contributes to Australia’s economic reputation and wellbeing by ensuring that Australia's financial markets are fair and transparent, and supported by confident and informed investors and consumers.

Australian Financial Services Representatives are required to maintain their details on ASIC's registers. Information contained on the Australian Financial Services Representatives Register is made available to the public to search via the ASIC Connect website.

Selected data from the register will be uploaded each month to www.data.gov.au. The data made available will be a snapshot of the register at a point in time. Legislation prescribes the type of information ASIC is allowed to disclose to the public.

The information in the downloadable dataset includes:

• Register Name
• Australian Financial Services Representative number
• Australian Financial Services Licence number
• Representative name
• ABN
• Organisation Number (eg ACN)
• Other role
• Date representative was appointed
• Appointment status
• Date representative appointment ceased (if applicable)
• Australian Financial Services Representative's principal business Address suburb
• Australian Financial Services Representative's principal business Address State/Territory
• Australian Financial Services Representative's principal business Address postcode
• Australian Financial Services Representative's principal business Address Country
• Cross endorsements
• Authority to appoint other representatives (Yes/No)
• Appointing authorised representative number (if applicable)
• Australian Financial Services authorisations
• Same authorisations as licensee (Yes/No)
• Australian Financial Services Representative related business names

Additional information about financial advisers can be found via ASIC's website. Accessing some information may attract a fee.

More information about searching ASIC's registers.

Australia Financial Auditing Professional Services Market growth is driven by challenges such as regulatory complexity and a shortage of skilled professionals persist, the adoption of advanced technologies and a focus on tailored solutions present significant opportunities.

The Report Covers Neobanks Market Report in Australia and It is Segmented by Account Type (Business Account and Savings Account), By Service (Mobile Banking, Payments & Money Transfer, Savings Account, Loans, And Others), And by Application (Enterprise, Personal, And Others). The Report Offers Market Size and Forecasts for Australia Neo Banking Market in Value (USD) for all the Above Segments.

The Custody, Trustee and Stock Exchange Services has experienced dynamic shifts driven by globalisation, digital revolution and market volatility over the past few years. Although the number of stock market trades has climbed, investors and superannuation funds have gravitated towards international markets to diversify their portfolios over the past few years, slowing revenue growth for domestic stock exchanges and share registry services. Despite the trend, Guzman and Gomez's recent IPO, the largest on the ASX in three years - could signal a potential revival in domestic stock exchange interest. Competition within the industry has heightened over the past few years. The payment space has experienced fierce competition, but the growing digital payments and online shopping segments have propelled credit card usage. Despite the booming popularity of alternative payment methods like buy now pay later (BNPL), credit card providers have boosted their appeal through attractive loyalty and reward programs, spurring industry growth. The inherently volatile financial markets and consumer sentiment heavily influence services like stock exchanges share registries and credit card administration. Incidents like the pandemic have adversely impacted service providers' performance in the two years through 2020-21. However, despite market fluctuations, the industry's wide range of services has helped moderate revenue volatility. Therefore, revenue has risen at an annualised 0.7% to $13.0 billion over the five years through 2024-25, including a revenue uptick of 0.5% in the current year. The industry is on track to recover over the next few years. Consumer sentiment and business confidence are set to rise, encouraging more clients to seek out custody, trustee and stock exchange services. Anticipated growth of the All Ordinaries Index, the value of funds under management (FUM) and superannuation funds' assets under management (AUM) will fuel industry expansion. However, digitalisation in the financial services sector will introduce new entrants, creating a challenging environment for traditional service providers and placing downward pressure on profitability. Revenue is forecast to rise at an annualised 1.9% to $14.3 billion over the five years through 2029-39.