1 July 2020
Open Banking officially began in Australia on July 1. It will ramp up across the banking sector over the next few months. Customers will be able to securely share their data to get the best deal possible on credit cards, savings accounts and other deposit products.
Latest news
Four in five small and medium businesses say they have been exposed to an attempted scam in the past year, according to new research commissioned by the Australian Banking Association. This Scams Awareness Week, banks are reminding small businesses across the country to take steps to scam proof their operations and protect themselves as well… Read more »
The ABA welcomes today’s passage through the Parliament of the Cash Distribution Framework Bill 2026, an important safety net shoring up the ongoing distribution and availability of cash across the economy. ABA CEO Simon Birmingham said banks continued to support customers who choose to use cash and this regulatory framework would provide greater certainty for… Read more »
The ABA welcomes the commitment today by the Assistant Treasurer and Financial Services Minister Daniel Mulino to make the Compensation Scheme of Last Resort (CSLR) more sustainable by reducing the losses and costs associated with it. ABA CEO Simon Birmingham said changes to the CSLR must help contain losses that generate claims and place the… Read more »