SYDNEY, Australia – June 2021

Fintech Australia hosted the annual Intersekt FinTech Industry Conference across 19-20 May. Intersekt is a collaborative gathering of Australian financial institutions, regulators, investors, advisors and policymakers as well as various leaders in the field. Endorsed by the Victorian government in support of Australia’s Fintech community, the conference aims to bring together international and national speakers to examine and discuss Australia’s fintech market.

Rich Data Co (RDC) was pleased to be invited to participate in the Intersekt conference, with our CEO Ada Guan featuring as a guest speaker at a roundtable on Thursday 20 at 1:30pm in the Mayfair 2 room. Joining via Webcast, Ada shared insight and experience in an online panel session hosted by Australian Trade and Investment Commission (Austrade) on Fintech Opportunities in China, Taiwan & Hong Kong.

Under Ada’s leadership RDC entered the Chinese Market in 2018, actively supporting clients and delivering products and services into late 2019. Ada highlighted how Australian FinTech’s are in an advantageous position to enter the greater China region. This is enabled by Australia’s world class universities with strong AI research capability; well-established national financial systems which are enabled to drive innovation; and Australia’s neutrality when providing B2B services to banks.

Supportive partners in mainland China were key to RDC’s go-to-market strategy. Ada described the importance of a respected local presence in mainland China to build credibility and solidify relationships. RDC was fortunate to have an existing relationship with an American technology company – who provided guidance and facilitated introductions to integral Chinese partners. Through these fortuitous partner networks, RDC was able to create broader opportunities both within China and internationally.

Ada emphasised the capacity to understand cultural expectations and idiosyncrasies when conducting business in China, will set vendors up for success. Ada and the RDC team considered the importance of such cultural differences, and placed respect at the foundation of their approach. Knowing and understanding the local landscape is critical for international expansion, and should be key to entering any new geography.

In early 2020, RDC made a considered decision to wind back customer and sales activity in China; adjusting to focus on supporting clients in Australia during the COVID-19 pandemic. However, the relationship with China remains strong. RDC has maintained a local office in Shenzhen, with a team of developers who support RDC’s ongoing product development and operations. Operating across many geographies, RDC is proud of a uniquely diverse and multi-lingual culture which is embedded in how the team works together to deliver successful outcomes.  

In conclusion, Intersekt’s annual Fintech conference was a fantastic event; and CEO Ada Guan was pleased to discuss her experience & effective methods for Australian Fintechs to enter the Greater China market.