10 April 2019
Opening up bank data carries an inherent threat of commoditisation for incumbent banks and will require a fundamental rethink of the traditional banking business.
Latest news
The ABA acknowledges the release of the 2025-26 Mid-Year Economic and Fiscal Outlook. The Government’s forecasted $8.4 billion reduction in the deficit over the forward estimates including a $5.4 billion reduction for year’s deficit is welcome. Lower deficits and claimed savings of $20 billion over the next four years is a beginning towards ensuring our national finances are on a more sustainable footing. While this Budget update contains lower forecasts of spending as a share of GDP, the ABA notes the importance of ongoing spending restraint to help reduce inflationary and interest rate pressures. Banks… Read more »
ANZ CEO Nuno Matos has been appointed as the new Chair of the ABA Council, as banks continue their focus on meeting the needs of customers as well as playing a crucial role in the Australian economy. At the ABA’s Annual General Meeting today in Melbourne, ING CEO Melanie Evans was also reappointed as Deputy… Read more »
The ABA welcomes today’s release of draft industry designations and framework for scams code obligations for banks, telecommunication companies and digital platforms – reinforcing the importance of an ecosystem approach in the fight against scammers. ABA CEO Simon Birmingham said the draft materials were the next piece of the puzzle in ongoing efforts to drive… Read more »