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The Digital Roadmap : Strategic Transformation for Customer-Owned Banking in Australia

Australia’s banking sector is undergoing significant transformation, shaped by regulatory change, rising customer expectations and competition from fintechs and major incumbents. Customer-owned banks and credit unions remain vital players in regional communities and niche markets, yet many face the constraints of legacy systems that limit agility and innovation.

The key drivers of a successful modern banking it transformation.
The Key Drivers of a Successful Modern Banking IT Transformation

Digital transformation in the banking sector is essential but comes with significant challenges as institutions navigate an increasingly competitive and fast-paced environment. One of the most complex tasks is simplifying products and policies, often hindered by longstanding bureaucratic processes and regulatory requirements.

DIGITAL BANKING: ACCELERATING FINANCIAL INCLUSION
DIGITAL BANKING: ACCELERATING FINANCIAL INCLUSION

Over the last decade, Financial inclusion can be characterised as a means to an end. By ensuring access for households and small and medium enterprises to safe, essential financial services, financial inclusion is a key facilitator of inclusive economic growth. Not only does financial inclusion promote regional economic objectives, it is also considered as an enabler for 7 of the 17 sustainable development goals defined by the United Nations Department of Economic and Social Affairs.

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