Australia’s trade minister has signed an agreement with the Commonwealth Bank of Australia (Commbank) to ease access to UK fintech markets and investment.

As part of the deal, the US$47 trillion institution will make available its London Innovation Lab for up to three months at a time and provide mentoring to Australian fintech companies seeking access to European markets. Austrade will provide partner introductions and support trade missions.

After being highlighted by the KPMG Pulse of Fintech report as an attractive place for investment in the sector, Australia is clearly seeking to turn its startups into global players.