Toby Heap, Co-founder of H2Ocean, says the FinTech industry has transitioned from a buzzword into a legitimate and fast growing industry. ‘What’s really new here is that the consumer marketplace has become confident and comfortable with doing important transactions over new mediums like the internet and digital channels.” Heap says the industry has spawned a new breed of companies that are taking away the pain when it comes to dealing with personal finances. These companies are simplifying and humanising the experience of dealing with financial services. Five years ago there had been less than $1 billion invested into FinTech companies, today that figure is now more than $20 billion. This surge in investment is underpinned by rapid customer uptake and importantly new regulation that shows governments and regulators recognise the importance of this industry.