The new centre, called ‘Stone and Chalk’, will be located at 45 Clarence Street in Sydney’s CBD and will be chaired by FSI expert and former AMP CEO Craig Dunn.

DEXUS Property has been appointed as the manager of 1,230 square meters of office space, which will be able to accommodate 150 fintech entrepreneurs once the doors open in May.

Speaking at the launch, Mr Baird said the center would strengthen Sydney’s position as “Australia’s business capital and a globally recognized and competitive financial sector”.

"Stone and Chalk will provide fintech startups with subsidized office space to collaborate, network and explore venture capital opportunities," he said.

Mr Dunn said he hoped the center would become the heart of fintech in Australia and Asia.

"Digital disruption is transforming the financial services industry and there is much to be gained through greater collaboration between stakeholders in the fintech ecosystem," said Mr Dunn.

“We are focused on realizing our vision of a fintech hub in Sydney to support start-ups [so they can] compete, thrive and lead on a world stage,” he said.

A number of the foundation's corporate partners have contributed over $2 million to the new fintech hub.

Partners include, among others, AMP, ANZ, HSBC, Macquarie Group, Suncorp, Westpac and KPMG.

ANZ group chief operating officer Alistair Currie said the launch of the center comes at a time when digital and mobile technologies are changing customer behavior and the way banks deliver products and services.

"The UK has led the way with this concept of bringing financial services, start-ups and information technology companies together in one hub," Mr Currie said.

"The development of fintech is Australia's opportunity to accelerate and fuel the next wave of technological advancements to benefit the financial services sector and the wider economy."