Amid rising inflation and costs of living, high interest rates and geopolitical instability, post-pandemic Australia is proving challenging for consumers and businesses. But having shown they can work through crisis before, banks are well-positioned to weather the storm, help stabilise the economy and continue transforming to finance Australia’s future.
As a new world of banking emerges, tomorrow is firmly in our grasp. Those who embrace and embed innovative thinking and technology, boldly and with a clear vision, can help shape it. But we mustn’t lose sight of the foundations the industry is built on and the values and lessons learnt on the way.
In these volatile times, banks have a great opportunity to lead with trust and be the custodians Australians need, now. By prioritising customers, investing in cybersecurity, using technology to get the basics right and strongly committing to climate finance innovation, a cleaner and more secure future is possible.
There is much to be done and many challenges ahead. But in those challenges lie opportunities to grow, find new sources of value and continue supporting Australians, while supporting our transition to a modern, resilient and sustainable economy.