Airwallex, the Australian-born fintech company, is shifting its focus from cross-border payments to autonomous finance. The company's president, Lucy Liu, describes this move using a car metaphor that makes the concept easy to grasp.
"It's like assisted driving, like you have in a Tesla," Liu says about T:0, the company's new automated bookkeeping system. "You still have someone in the driver's seat, but the car really drives itself."
What Is Airwallex's T:0 Autonomous Finance System?
T:0 is an automated bookkeeping system designed to run a company's entire financial department on its own. The name suggests real-time processing — zero delay between financial events and their recording. This is a significant step beyond traditional accounting software that requires human input at multiple stages.
According to Fortune, T:0 is part of a broader pivot for Airwallex as the company moves beyond its original focus on cross-border payments.
From Cross-Border Payments to AI-Driven Finance
Airwallex started in Australia and has grown into a major global player in fintech and payments. Its early success followed a familiar path — similar to platforms like Wise and Revolut, the company's business first grew alongside traditional industries that rely on cross-border payments.
These industries include e-commerce, gaming, and online travel. Companies in these sectors need to move money across borders quickly and efficiently, and Airwallex built its foundation serving those needs.
But the landscape is changing. As AI transforms how companies approach aspects of their business — including subscriptions and payment models — Airwallex is adapting its offerings to match.
Why Lucy Liu Says It's 'Not the Best Time' for an IPO
Despite the company's expansion and growing market presence, Liu is cautious about taking Airwallex public. She states plainly that it is still "not the best time" for an IPO.
This stance comes even as the company continues to grow and evolve its product lineup. The decision suggests that Airwallex leadership sees more value in staying private for now, focusing on product development and market expansion rather than navigating public market pressures.
"You still have someone in the driver's seat, but the car really drives itself." — Lucy Liu, President of Airwallex, via Fortune
What Autonomous Finance Means for Businesses
The shift toward autonomous finance represents a meaningful change in how companies might handle their financial operations. Instead of manual bookkeeping and reconciliation, systems like T:0 can handle these tasks automatically.
For businesses that currently rely on traditional accounting methods, this could mean significant time savings and fewer errors. The system handles the routine work, while humans stay in control of bigger decisions — much like a driver monitoring a self-driving car.
For Airwallex, this pivot positions the company to compete not just in payments but in the broader financial software space. The move from cross-border payments to autonomous finance is a natural evolution as AI capabilities expand.
Our Take: A Smart Pivot, But IPO Patience Makes Sense
In our view, Airwallex's move into autonomous finance is a logical next step. The company built its reputation on cross-border payments, but that market is becoming crowded. Expanding into AI-driven financial management opens up new revenue streams and deepens relationships with existing customers.
The T:0 product, with its Tesla-like assisted driving approach, strikes a sensible balance. It automates the tedious parts of financial management while keeping humans in control. That is likely to appeal to businesses that want efficiency without losing oversight.
On the IPO question, we think Liu's caution is reasonable. The company is in the middle of a significant product expansion. Going public now would bring quarterly earnings pressure that could distract from building out this new autonomous finance division. Waiting until the new products are established and proven makes strategic sense.
The fintech space is watching Airwallex closely. If T:0 succeeds, it could set a new standard for what businesses expect from their financial software. And when the company eventually does go public, it will likely be from a position of strength with a more diversified product portfolio.
For now, Airwallex is focused on building — and letting the car drive itself.
