Australian fintechs are finding it harder to get access to capital, with the economic slowdown and global uncertainties discouraging investors from backing start-ups.According to the latest EY Fintech Australia Census, 38 per cent of the 120 fintechs surveyed said they were able to raise capital in the past year. In last year's survey 43 per cent had been able to raise capital.More than half of the fund-raising in the past year have been for less than A$1 million. The majority of fintechs said they rely on private funding.There is also a skew to funding experienced players, reflecting a more conservative approach from the venture capital sector and other investors.Meredith Angwin, fintech advisor, Ernst & Young Australia, said: "We are seeing less success in capital raisings and lower levels of funds being raised. The funding that is available is becoming more conservative, skewing towards the more established and experienced fintechs."Angwin said that despite this, survey respondents remain positive about their ability to develop their businesses.Another positive is that 23 per cent of local fintechs are operating profitably, up from 19 per cent in 2018, allowing more of them to fund growth out of retained earnings. Median revenue of the surveyed companies increased by 80 per cent over the past year.According to the survey, 30 per cent of Australian fintechs operate in the wealth and investment sector, 18 per cent are lenders, 18 per cent are in data and data analytics, 17 per cent are in payments and 13 per cent offer business tools.In other findings, Australian fintechs are seeing an increase in the use of their services by consumers and a greater willingness by incumbent financial institutions to work with them.Fintechs put both of these trends down to the impact of the Hayne Royal Commission.Twenty-six per cent of fintechs said incumbent financial institutions had become more willing to work with them.Angwin said: "While still highly competitive, it's fair to say that there are much more mature, streamlined and effective relationships emerging."The dynamic in the fintech industry has changed dramatically in the four years that we have been running the census. There is increased recognition of the need for partnerships and collaboration for the benefit of consumers and the financial services sector as a whole."Access to talent remains a problem in the industry, although there appears to have been some improvement. Forty-three per cent of respondents say there is a lack of experienced fintech talent - down from 58 per cent last year.