Lose the tie, get a t-shirt: Morrison

Treasurer Scott Morrison is excited by financial technology, predicting it will drive new products to benefit consumers and other sectors of the economy.

FinTech - which aims to harness new technologies to improve how business operates - was not just something to be excited about because it's "shiny".

"It is shiny. A lot of the people involved in it are quite shiny. It's an exciting industry. If you want to get involved in it, you better get a t-shirt and lose the tie," he told a conference in Melbourne on Tuesday.