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Banking & Financial Services

The Australian banking sector is in a state of flux. Two key challenges will define future success in this sector:

  • Regulatory change, in particular, as a result of the Banking Royal Commission. This is likely to come in the form of: 

    • Stricter regulation and a more active regulatory environment in future with greater levels of transparency.
    • Increased compliance resulting in higher remediation costs in the short term, with an expectation that companies will adapt their compliance operating models to manage costs effectively.
    • Increased Underwriting Discipline improving surety that safe and secure loans are issued and maintained.

  • Tech-enabled innovation, intensifying cost pressure combined with accelerating demand to deliver intuitive customer experience will change more in the next five years than they have in the previous 25 years

Bank operating models need to evolve and, in some areas, transform.

FinXL works with Australia’s major banks in achieving these outcomes and is uniquely positioned to enable transformation that deliver sustainable advantage.