Fintech leaders are wanted to bring transparency in the Australian small business sector. Ombudsman Kate Carnell launched a research project this week with FinTech Australia and independent SME finance expert Neil Slonim from theBankDoctor.org. The project will survey fintech small business lenders to identify industry best practice to help SMEs better understand their fintech borrowing options.

The project’s leaders said they see where fintech lenders are becoming a strong alternative to bank lending. In that regard, they also want to make sure SME clients understand their options and have transparency when making their financing decisions. Carnell said the project is a proactive effort in serving SME clients and the lenders they select.