UK fintech Smart sets up Australian HQ in Melbourne

UK fintech Smart sets up Australian HQ in Melbourne

UK fintech Smart have launched in Australia, setting up office in Melbourne to bring more jobs opportunities to state’s thriving superannuation sector.

Minister for Economic Development Tim Pallas announced the opening of the new Smart Australian office – enhancing the state’s fintech sector and delivering innovative savings solutions across the country.

Upon establishment, the Smart Australian office will create highly skilled jobs in multiple technology disciplines, mainly in the superannuation sector, to work with partners across Australia to provide retirement savings and income solutions.

Built on extensive research and development, Smart’s technology powers the retirement savings of savers across the world using proprietary apps, web access, Alexa and Google Home skills – making it as easy to manage retirement funds as it is to shop online or bank online.

The Victorian Government’s International Investment Strategy is attracting global organisations from growth industries to secure the skills, capabilities and technology that will drive long-term growth in the Victorian economy.

In 2019, Smart was named by the UK Pensions Awards as Master Trust of the Year and Innovation of the Year in the defined contribution categories, along with Retirement Innovation of the Year. Smart was also named as European Pension Fund of the Year 2019 in the European Pension Awards.

Headquartered in London, Smart services more than a million savers across the world and is backed by investors including J.P. Morgan, Barclays, Legal & General Investment Management, Link Group, and Chrysalis Investments.

Victoria’s tech sector contributes more than $38 billion to the economy annually and supports almost 140,000 workers across 20,000 businesses.

“This arrival of Smart shows that Victoria is a productive ground for major global companies, and we’ll continue to create the conditions that allow businesses to thrive and deliver more jobs,” said Minister Pallas.

Jaala Pulford, Minister for Innovation, Medical Research and the Digital Economy added, “This is a further boost for skills in our world-class fintech sector and an opportunity for innovative Victorian companies to work with major global players in the industry.”

In a joint statement, Smart Co-Founders Andrew Evans and Will Wynne stated, “We’re really excited to bring our retirement tech to Melbourne, the heart of Australia’s rapidly growing fintech ecosystem, and bring further innovation to one of the most mature superannuation ecosystems on the planet.”