We’re excited to bring you the latest session in our Journey to Formation and Impact Series! In this instalment, we explore the remarkable journey of FinTech Australia, featuring insights from Rehan Mark D’Almedia, CEO, and Tori Rudolph, Strategic Partnerships Manager.
Our Key Takeaways from the Session
Government and Regulatory Engagement
Maintain strong relationships with regulators and the government to ensure they understand the evolving fintech landscape, support the protection of consumers and foster innovation through a conducive regulatory environment.
Member Value Through Industry Events
Conferences and award shows provide opportunities to gather insights that influence policy and shape initiatives. These events help members connect with new partners, investors, and customers, adding value through collaboration.
Measuring Success and Tracking Member Value
Tracking advocacy success and engagement can be challenging, particularly as implementation can take time. Monitoring policy changes, capturing stories of success (such as partnerships and mergers), and gathering feedback through surveys are ways to capture value. Surveys are also key methods to identify challenges or issues members are experiencing and provide ideas for new initiatives and projects for the association to tackle that will add direct value to members. For example, benchmarking employment and salary data has been a recent request from members, helping fintech startups understand industry standards.
Revenue Diversification and Sustainability
Events are a crucial revenue driver through sponsorships, but they also offer networking opportunities that benefit both corporate partners and members. While sponsors pay to support the event, these events provide valuable platforms for corporate partners to engage with the fintech industry. This approach, combined with other revenue streams like memberships and corporate partnerships, has proven essential, especially during challenging times like the pandemic.
Board Structure and Governance
A board of industry leaders from the fintech sector, featuring both member-based seats and external advisers, strikes an ideal balance between governance and strategic vision. This structure ensures the association remains closely aligned with member priorities while benefiting from the valuable insights and expertise of external voices.
Navigating Communication in a Diverse Community
Involve active members and influencers in promoting association initiatives rather than relying solely on organisational messages. Use the platform based on where your members engage—WhatsApp, email, Twitter, and LinkedIn. Building genuine connections is key to fostering impactful community engagement.
Gain a deeper understanding of how associations like FinTech Australia navigate complex relationships with regulators, government, and industry players while delivering value to their members. Whether you’re a growing DFA or an industry enthusiast, these insights will help you strategize for future success. Watch the full recording here and be part of the ongoing conversation shaping the future of fintech.