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Banking news in Australia

An overview of news, trends and research in the Banking industry in Australia:

As Agentic AI fast-tracks in financial services, accountability and risk becomes key The emergence of autonomous AI systems is set to revolutionise the financial services sector, but at the same, the new technology is introducing all kinds of risks and concerns that will need respons
26 May 2025
Next-Gen Banking: Balancing innovation with proven foundations for the future As banks continue to modernise their IT-landscapes to fuel their digital transformations, they are increasingly adopting next-gen banking solutions, writes Theo Albers from Infosys Finacle.
26 May 2025
OCG partners with RecordPoint to elevate data governance in financial services RecordPoint, an international provider of data management and governance solutions, has inked a strategic partnership with Oceanic Consulting Group, one of the nation’s leading consultancies.
01 May 2025
Protiviti named Platinum partner of Financial Review Banking Summit in Sydney Held mid-way this month, the Financial Review Banking Summit will bring together leaders from across Australia’s banking sector to discuss future challenges and opportunities.
04 March 2025
Beyond Bank working with Cognizant on digital transformation upgrades Beyond Bank, one of Australia’s largest customer-owned banks, has made several strides in its digital transformation ambitions, revamping its digital experience and introducing several new products.
11 December 2024
The clock is ticking on APRA’s new operational risk management regulation The forthcoming Operational Risk Management regulation from APRA will have a significant impact on financial institutions.
20 September 2024
Oliver Wyman’s case for a ‘value-driven’ approach to transformation In order to keep up with market disruption and technological change, financial sector institutions in Australia have to initiate a raft of transformation programmes every year.
28 July 2024
The role of Australia's banks in alleviating the cost-of-living crisis The Budget has delivered some relief for Australians struggling with the cost-of-living. The government is spending AU$7.8 billion on cost-of-living measures.
23 July 2024
Banks argue CDR costs too high for limited consumer uptake With the support of Accenture, the Australian Banking Association (ABA) has released its latest strategic review of the country’s consumer data right regime, revealing an underwhelming level of uptak
08 July 2024
Why do transformations in the financial services sector fail? For Australian financial organizations that launch transformation projects, the success rate tends to be low.
03 July 2024
More than half of Australians believe AI will improve banking As technology continues to reshape the global banking industry, Australian banks are moving to embrace AI-powered personalised services.
28 June 2024
Safeguarding financial institutions from nation-state attacks The International Monetary Fund has warned that financial institutions around the world must be prepared for heightened cyber threats.
02 October 2023
Delivering hyper-personalisation in banking with new technologies In today’s experience economy, customers have come to expect personalised and tailored experiences from their banks.
23 May 2023
Tech that's helping banks weather economic headwinds Fifteen years post the global financial crisis, the world of banking is facing major challenges again.
23 May 2023
RBA brings in PwC to sort out staff underpayment issues Already under fire on a number of fronts for its continuous rate-hike response to runaway inflation, the Reserve Bank of Australia has now admitted to underpaying former staff over the past seven yea
23 April 2023
The evolution of the banking customer: How can the banks adapt The landscape around institutional banks and their customers has changed drastically over the past few years.
28 March 2023
Customer centricity and agility driving digital transformation in banking Publicis Sapient has released the 2022 edition of its Global Banking Benchmark Study, shedding light into some of the top trends and developments sweeping through the sector.
27 November 2022
How Australian banks can respond to the impact of high inflation In the first six months of 2022, economies across the globe recorded the highest levels of inflation seen in decades, and economists are predicting that inflationary pressure might not b
31 August 2022
Half of banks 'not ready' for upcoming ESG regulatory reporting Banks globally are lagging in their readiness for upcoming regulatory reporting in the ESG space, according to a new report by Avanade and the European Financial Management Association.
17 July 2022
Elabor8 helps bancassurance client develop a new testing framework As part of its multi-year digital strategy, a large bancassurance institution in Australia teamed up with consultants from Elabor8 to develop a new enterprise test automation platform.
20 April 2022
Digital transformation in financial services sees an upswing Executives and IT decision makers in the financial services industry believe cloud will be the most important technology to the success of their organisations over the next 12 months.
02 January 2022
Bendigo and Adelaide Bank appoints Richard Deutsch to board The former CEO of Deloitte Australia, Richard Deutsch, has been appointed as a non-executive director at Bendigo and Adelaide Bank.
08 September 2021
Streamlining the legacy technology landscape in financial services The financial services sector has one of the most elaborate and complex system landscapes around, and as a result, institutions struggle to keep their entire portfolio up-to-date.
31 August 2021
NAB working with Accenture on massive compliance fix Consulting giant Accenture is reportedly working with the NAB on a “mammoth” project to fix the long-standing compliance issues which have recently led to increased regulatory scrutiny.
15 June 2021
Neobank Volt partners with TCS for digital payments platform Australian consumer bank has agreed a partnership with Indian IT giant Tata Consultancy Services to build and run its soon to be launched Banking as a Service (BaaS) platform.
29 December 2020
Mobile-bank Hay embraces tech for customer experience Hay – a cloud-based financial services firm headquartered in Sydney – has successfully developed a robust transactional infrastructure that enables quick and seamless customer service.
26 August 2020
Seven technology innovation trends in financial services Amid a disruptive environment, innovation in financial services is picking up rapidly to meet changing customer expectations, improve internal operations or comply with regulations.
22 July 2020
Higher costs slash profits of Australia's four major banks Australia’s major banks saw a decline of more than 40% in their profits for the first half of this year, compared to the same period last year.
13 July 2020
Tradeplus24 taps BDO Corporate Finance for growth equity hunt The management of Tradeplus24 has hired corporate finance consultants from BDO to help the company secure $5 million in growth funding.
09 July 2020
Exodus of consultants and contractors at Australia's NAB As part of its Covid-19 response strategy, National Australia Bank (NAB) has slashed funding for its ‘change the bank’ portfolio, a decision which has seen around 100 projects killed or put on hold.
19 April 2020
CBA's start-up venture X15 partners with KPMG and Microsoft Commonwealth Bank (CBA) is looking to tap into the burgeoning financial technology (FinTech) market across the country through the launch of a FinTech startup incubator X15 Ventures.
19 March 2020
Virgin Money taps Deloitte Digital for digital bank launch Virgin Money has announced it is establishing a digital bank in Australia.
12 March 2020

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