Fintech Australia will relocate its headquarters from Sydney to Melbourne’s Victorian Innovation Hub in Docklands – but its insurtech division is staying put in Sydney.

“Melbourne is a natural fit for Fintech Australia,” GM Rebecca Schot-Guppy said.

“Collaboration across the financial services industry is key for fintechs and we hope to better facilitate this with our move to Australia’s tech city and the Victorian Innovation Hub.”

The move means Melbourne will host the peak body’s annual Finnies awards in June.

Insurtech Australia CEO Simon O’Dell told insuranceNEWS.com.au his division’s “headquarters is Sydney and will remain so because the bulk of our key stakeholders are in Sydney”.

“We do plan to grow our Melbourne-based, decentralised team to continue to grow the insurtech agenda in Victoria.”

Fintech Australia’s move is a boost to Victoria, which has been working to attract more digital start-ups.

“Victoria is fostering the innovation that will grow new businesses and create local jobs in the fintech sector,” state Jobs, Innovation and Trade Minister Martin Pakula said.