fbpx
Skip to main content
New 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
Transcript
Anna Bligh interviewed by ABC RN’s Hamish McDonald on branches and changing customer trends
21 September 2023

Hamish MacDonald: A Senate inquiry is examining a wave of bank closures that have hit regional Australia particularly hard. More than 1600 bank branches have closed nationally in the past six years, including 309 in the last financial year. Like post offices and milk bars, bank branches form part of the architecture of regional communities… Read more »

Read more
ABA News
Online gambling credit card ban one step closer 
14 September 2023

New laws banning the use of credit cards for online gambling are one step closer with the introduction of the Federal Government’s Interactive Gambling Act 2001 Bill to Parliament.  The Australian Banking Association (ABA) has welcomed this milestone saying the new laws will make it illegal for an online gambling company to accept a credit… Read more »

Read more
ABA News
New identity verification safeguards a step in the right direction  
14 September 2023

The Australian Banking Association (ABA) has welcomed the introduction of new legislation to boost the security of identity verification services.

Read more