England romped to victory by an emphatic eight-wicket margin embodying their meteoric rise in one-day internationals since the 2015 World Cup debacle.
Australia lost three wickets inside the first ten overs of their innings after electing to bat first - a top-order collapse from which they never able to recover and spluttered along their way to muster 223 runs as they failed to bat out the full quota of 50 overs.
England were powered by an explosive opening stand from Jonny Bairstow and Jason Roy with the latter going on to score a rapid 85 off 65 deliveries as the home side reached the modest target in 32.1 overs in front of a euphoric Edgbaston crowd.
Finch, part of the victorious Australian side in the 2015 World Cup, admitted in the aftermath of his side's loss that England were clearly the more potent team on the day.
"We were totally outplayed today. We expected the new ball to seam a little but they bowled a great length, hitting the stumps a lot," Finch said.
"We had to have a lot things go right for us. We had to take our chances and bowl them out.
"We tried to take wickets but when you are aggressive with the ball and they are aggressive with the bat, things can happen very quickly."
Australia retrieved some momentum during their innings courtesy a 103-run partnership between Alex Carey and Steve Smith before being outwitted by a double-strike from leg-spinner Adil Rashid.
Later, the England pacers derailed Australia's batters as Chris Woakes returned impressive bowling figures of 3-20 in 8 overs.
"They played exceptionally well. We know how dominant they are when they get on top. You've got a very good cricket team in England," Finch said.
The result of the Edgbaston game proved to be a dramatic turnaround from the previous meeting between the two sides at the World Cup, where Australia thrashed the Ashes rivals by 64 runs at Lord's.
This marked Australia's first ever defeat at a World Cup semi-final but Finch believed his team had a lot of positives to cling onto during their tournament campaign as he highlighted his side's progress from the whitewash they suffered in England last year.
"We have a lot of positives from the campaign. We've come a long way from when we were in England a year ago," he said.
"We came here thinking we could win the tournament. We've had backs to the wall and character shown and I'm proud of how the group have progressed but it still hurts."