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.
Why customer-centricity matters in an uncertain banking environment
Deloitte has proudly sponsored the AFR’s Banking Summit since 2016. In his welcome to attendees, David Myers, the firm’s national banking and capital market sector leader made five reflections on the banking sector as a volatile year unfolds.
2023 Future of Cyber Survey
In today’s environment of heightened cyber importance, cybersecurity has become foundational to Australian businesses. Organisations are looking beyond a tech-centric or threat focus toward positive outcomes that result from integrating cyber across businesses. How will you navigate an ever-changing cyber threat landscape and lead your organisation toward new business value?
Outsmarting criminals to overcome money laundering
Financial crime costs Australians more than A$47 billion each year – so early detection, deterrence and disruption is essential in protecting the Australian community, economy and way of life. The regulator, and the regulated sector including banks and other financial services and gaming organisations, play a key role in outsmarting professional criminals by working together to stay one step ahead.
Six reflections on Australia's banking sector
Deloitte has proudly sponsored the AFR Banking Summit since 2016. Our 2022 Summit was jointly opened by the AFR’s Editor-In-Chief Michael Stutchbury, and Deloitte’s Banking and Capital Markets Sector Leader David Myers. David reflected on six challenges facing the sector – outlined here.
The road to net-zero
To avoid the worst of climate change, the scientific consensus is that greenhouse gas emissions must reach net zero by 2050. Many financial institutions have stepped up to the challenge. Here’s what they’ve discovered about what it takes to drive real-world change.