Australia’s fintech ecosystem has grown up. No more sending money overseas for basic financial infrastructure.

Here’s what’s actually worth using.

Banking

Judo Bank

Business banking designed for businesses. Not a consumer bank pretending.

What’s good: Fast loan decisions, relationship managers who understand business, competitive rates.

What’s not: Not the cheapest. Minimums may not suit micro-businesses.

Best for: Growing businesses who need banking relationship and potential credit.

Up Business (Coming)

Up’s consumer banking is excellent. Business accounts are rolling out.

What’s good: Great app, instant notifications, savings automation.

What’s not: Early stage for business. Limited features compared to traditional banks.

Best for: Solo founders who want simple, modern banking.

Wise Business

Not a bank but handles multi-currency brilliantly.

What’s good: Real exchange rates, multi-currency accounts, cheap international transfers.

What’s not: Not a full bank. No lending products.

Best for: Any startup with international payments or foreign customers.

Payments

Stripe

The default. For good reason.

What’s good: Excellent developer experience, comprehensive features, strong fraud prevention.

What’s not: 1.75% + $0.30 per transaction adds up. Customer support can be slow.

Best for: Any startup taking online payments. Just use Stripe.

Square

Better for in-person payments. Good for hybrid businesses.

What’s good: Simple hardware, integrated point-of-sale, growing online features.

What’s not: Online payments less sophisticated than Stripe.

Best for: Retail, hospitality, service businesses with physical presence.

PayPal/Braintree

Still relevant for certain use cases.

What’s good: Customer recognition, buyer protection, checkout completion rates.

What’s not: Expensive, customer support is terrible, account holds happen.

Best for: Offering as alternative payment method, not primary.

Invoicing and AR

Xero

Standard accounting software with good invoicing.

What’s good: Bank feeds, BAS integration, ecosystem of add-ons.

What’s not: Invoice features aren’t best-in-class. Slow for complex needs.

Best for: Most small businesses. Accountant will thank you.

MYOB

The legacy alternative.

What’s good: Some businesses and accountants prefer it. Established.

What’s not: Interface feels dated. Less innovative.

Best for: If your accountant insists on it.

Ignition

Proposals and payments for professional services.

What’s good: Combined proposal/engagement/payment flow. Looks professional.

What’s not: Niche use case. Expensive for what it does.

Best for: Agencies and professional services firms.

Expense Management

DiviPay

Australian virtual card platform.

What’s good: Virtual cards for teams, spending controls, automated receipt capture.

What’s not: Not the cheapest. Setup takes time.

Best for: Teams with distributed spending who need control.

Spendesk

International but works well in Australia.

What’s good: Comprehensive expense management, approvals, virtual cards.

What’s not: Priced for larger teams. Overkill for tiny startups.

Best for: Growing teams (20+) with expense complexity.

Corporate Cards

Airwallex, American Express, various bank cards.

All have trade-offs. Airwallex good for international. Amex good for points. Bank cards good for simplicity.

Pick based on your spending patterns.

Financial Planning

Fathom

Financial reporting that actually makes sense.

What’s good: Beautiful reports, KPIs, forecasting. Connects to Xero/QuickBooks.

What’s not: Monthly cost adds up. Learning curve.

Best for: Businesses that need board reporting or investor updates.

Float

Cash flow forecasting.

What’s good: Visual cash flow projections, scenario planning, Xero integration.

What’s not: Limited to cash flow. Not full FP&A.

Best for: Businesses obsessed with runway (which should be all startups).

Spotlight Reporting

Comprehensive financial reporting platform.

What’s good: Detailed reporting, forecasting, consolidation for multi-entity.

What’s not: Complex. Requires setup investment.

Best for: Larger businesses with sophisticated reporting needs.

Revenue Operations

Stripe Revenue Recognition

If you’re on Stripe, their revenue recognition handles accrual accounting for subscriptions.

What’s good: Automated, accurate, handles deferred revenue.

What’s not: Only for Stripe transactions.

Best for: SaaS businesses on Stripe.

ChartMogul / ProfitWell

SaaS metrics dashboards.

What’s good: MRR, churn, cohorts—the metrics that matter.

What’s not: Another tool to pay for. Another integration to maintain.

Best for: SaaS businesses who need metrics beyond basic accounting.

The Integrated Stack

What we actually use:

• Banking: Judo + Wise Business
• Payments: Stripe
• Accounting: Xero
• Expenses: DiviPay
• Planning: Float + spreadsheets

Total monthly cost: ~$300-500 depending on usage.

Could be cheaper with fewer tools. This setup saves significant time.

The Advice

1. Start with Xero + Stripe. Add complexity as needed.

2. Get Wise Business early. Even if you don’t need international yet.

3. Automate bank feeds and reconciliation. Manual bookkeeping is wasted time.

4. Track cash flow obsessively. Float or spreadsheets, just track it.

5. Don’t overbuild. Financial infrastructure should be boring. Boring is good.

Australia’s fintech stack is mature now. You don’t need to compromise with tools built for other markets.

Use what works. Focus on building your actual business.