fbpx
Skip to main content
Get step-by-step help: Financial Assistance Hub

Government digital plan good for consumers

29 September 2020

A new digital plan announced by the Federal Government is a major step forward that will modernise the way Australians do business and deliver significant benefits to consumers.


“COVID-19 has highlighted century-old regulations slowing business down”, said ABA Chief Executive Anna Bligh AC.
 
The ABA is part of a coalition of business groups advocating for the fast tracking of moves to a paperless, contactless digital economy.
 
“These changes will make banking faster and easier”, Ms Bligh said.
 
The Australian Banking Association applauds the permanent changes allowing electronic transactions and virtual annual general meetings.

“It’s now vital that state governments follow suit, and work together through the national cabinet to ensure state and territories laws are consistent and enable consumers to conduct a range of everyday activities such as electronic mortgages”, Ms Bligh said.

“It’s now vital that state governments follow suit, and work together through the national cabinet to ensure state and territories laws are consistent and enable consumers to conduct a range of everyday activities such as electronic mortgages”

ABA CEO Anna Bligh

The Government’s funding for implementing and expanding the Consumer Data Right for open banking is also a welcome move.
 
Open banking will enable Australians to switch banks more easily and find products that suit their needs. The consumer data right will enable the safe and secure transfer of consumer data.
 
The Australian Banking Association looks forward to working with the Government to deliver the changes.


Open banking

A new digital economy



 

Latest news

1 / 3
Media Releases
ABA welcomes APRA’s Climate Information Paper
30 November 2022

The CVA released today will inform future industry efforts in using scenario analysis as a tool for understanding climate change related financial risks.

Read more
Transcript
Transcript: Anna Bligh on ABC NewsRadio – maternity leave lending
28 November 2022

“A number of our banks actually have maternity leave lending products that are specific to people on parental leave, paid and unpaid, to help them through, what as I said, can be a difficult time.”

Read more
Media Releases
Number of SMEs growing, despite economic challenges, ABA report
24 November 2022

The number of micro businesses grew 10% to 1.55 million in the year to June 2022. During the same period, the number of small businesses grew 3% to 955,861 after an extraordinary period of growth during the 2021 financial year, jumping 15% to 931,791.

Read more