29 July 2016
The ABA provided comments to the Productivity Commission’s Issues Paper on Data Availability and Use. The Issues Paper outlined that a significant public benefit could arise if data collected and stored by government, public bodies and private sector institutions were made more accessible to individuals, third parties and to the general public. The ABA agrees.Download PDF
To assist consistency of implementation across the industry, the Australian Banking Association has developed industry position on a range of aspects regarding the implementation of APRA’s revised capital framework.
Australian banks are using new technologies to increase efficiency and to provide new and more responsive services to customers. We propose the government focus on: simplifying or rationalising existing legislation that impact on the use of AI and ADM, in preference to new specific AI regulations; any regulatory intervention including setting best practice guidance should build on existing best practices and harmonise with sector specific regulation; and review and amend legislation to be neutral as to whether a human or technology is used to make decisions or conduct a process.