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Priorities

The ABA’s mission is to support our member banks to build a strong, stable and trusted banking system, to grow the Australian economy and build the financial well-being of all Australians. We do this through the following four pillars.

We are working to earn back the trust of the Australian people.

The banking industry has tougher rules imposed by the Government and regulators, a back to basics approach to banking which is squarely centred on the customer and a renewed focus on fixing culture.

Royal Commission

A lot has changed since the Royal Commission. There are tougher rules, improved culture and a refocus on customer outcomes.

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Remuneration Review

The Review was completed on 19 April 2017 with the release of a Final Report into product sales commissions and product based payments in retail banking.

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The Banking Code

The Banking Code is a set of enforceable standards that customers, small businesses, and their guarantors can expect from Australian banks.

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Corporate Responsibility

Large organisations like banks have a responsibility to be transparent with stakeholders about their social and environmental impacts.

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We work to ensure every customer counts.

Banks play a vital role in the financial futures of Australians – the vast majority of people benefit from bank shares through direct investment or through their superannuation fund.

Covid support

Australian banks were in a strong position to act as shock absorbers for customers during the COVID-19 pandemic.

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Financial abuse prevention

Banks are working to prevent financial abuse. Multiple resources are available to help bank staff when faced with a possible case.

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Consumer Outcomes Group

A joint bank and consumer forum dedicated to improving customer outcomes in retail banking.

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Campaign: stop financial elder abuse

Banks are campaigning with government and stakeholders to help protect older Australians from financial abuse.

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Banking Accessibility

Australian banks are committed to ensuring the accessibility of banking products and services for all people.

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We are helping to grow Australia’s economy.

Banks play a vital role in the Australian economy – keeping our savings safe and providing loans to support people and businesses.

Anti-Money Laundering & Counter-Terrorism Financing

The banking community is committed to reducing the risks and consequences of money-laundering and terrorism.

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A strong banking system

Australia’s financial system must be strong and stable. But equally, it should ensure that the households and businesses who use the financial system are well served.

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Natural disaster response

Strengthening and streamlining the industry’s response to natural disasters will increase Australia’s economic resilience.

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We can imagine the future of banking.

Banks are responding to seismic changes in customer behaviour and shifting trends by investing heavily in new technology and services.

Open Banking

Open Banking will give customers more control over their banking transaction data. Get details and the timeline of key dates.

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E-transaction reform

Temporary COVID legislation has allowed electronic mortgages and company docs and remote video witnessing. Those changes should stay.

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Payments

Australian consumers and businesses are at the forefront of adopting payments innovation.

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Cyber

One of the banking sector’s highest priorities is to work in partnership with key stakeholders to effectively mitigate cyber threats.

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Digital ID

The ABA welcomes the development of a digital identity ecosystem that supports interoperability between different solutions.

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