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Gen Advisory's expertise is underpinned by our extensive experience as ex-banking

regulators and practitioners.
 

Our expertise extends to the following:

As has been widely publicized, banks globally need to adjust to a new, more challenging era for banking. Australian ADIs and FinTechs are no exception.

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The Australian banking sector is currently undergoing a transformation. This is due to a confluence of various factors including:

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  • introduction of a mandatory CDR regime; 

  • FinTech and RegTech innovations; 

  • accelerating technological take-up; and 

  • demographic variables.

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Gen Advisory has the expertise to provide advice to ADIs and FinTechs in areas including:

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  • strategy and planning,  

  • current vs future markets;

  • customer-centricity; 

  • industry and regulatory developments,

  • business diversification; and 

  • overseas expansion, among others.

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Bank Strategy

 

“The accelerating pace of change from regulatory and technological developments brings the unprecedented potential to transform retail banking.”

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- UK Financial Conduct Authority,

December 2018.

In the aftermath of the Hayne Royal Commission, the regulatory environment for all

ADIs and FinTechs have become more challenging. APRA and ASIC have adopted a tougher and more litigious approach to regulating ADIs and FinTechs. ADI Boards are expected not just to manage conventional quantitative risks (such as credit and market risk), but also qualitative and emerging ones (like CGRA and climate).

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Gen Advisory has the expertise to provide advice to ADIs and FinTechs in areas including:

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  • GCRA risks;

  • the BEAR regime;

  • the revised Banking Code of Conduct;

  • ADI licensing requirements;

  • Financial Sector (Shareholding) Rules;

  • Cyber-security and resilience; and

  • the APRA suite of Prudential Standards for ADIs, among others.

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Banking Regulation

 

“There will be another financial crisis. This is almost a certainty with a fractional reserve banking system that relies on leverage and maturity mismatch. Our job as regulators and supervisors is not to prevent future crises, but to reduce their likelihood, and perhaps more importantly, to reduce their impact on the real economy.”


- William Coen, Security General of the BCBS, December 2018.

UK experience suggests that FinTech innovations will create winners and losers within the banking industry. The Australian banking sector is no different. 

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Gen Advisory believes that considering the likely ubiquity of FinTech and RegTech innovations, ADIs simply cannot afford to ignore these rapidly-evolving fields. We also believe that banking and FinTech are not a “zero-sum game”, but are in fact potentially complementary. 

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Gen Advisory has the expertise to provide advice to ADIs in areas including:

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  • FinTech and RegTech use cases;

  • regulatory issues relating to FinTech;

  • Open Banking implementation; and

  • regulatory sandboxes, among others.

FinTech/RegTech

"FinTech has the potential to lower barriers of entry…and drive the emergence of new business models. As a result, the scope and nature of banks’ risks and activities are rapidly changing.”

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- BCBS, "Sound Practices: Implications of FinTech developments for banks and bank supervisors”, 

February 2018. 

Perhaps contrary to popular belief, Australia despite being an advanced nation

does have pockets of financial exclusion.


According to statistics published by Australia's Centre for Social Impact,

one in five Australian adults are considered “financially excluded” – i.e.

“unable to access safe, affordable, and appropriate financial products/ services when they need them”.

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Gen Advisory has the expertise to advise ADIs and FinTechs on the following aspects of financial

inclusion:

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  • financial inclusion action plans (FIAPs);​

  • financial inclusion strategies;

  • root causes of financial inclusion;

  • the needs of the financially excluded; and

  • microfinance, among others

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Financial Inclusion

 

“Financial inclusion is a key determinant of sustainable and inclusive growth, which in turn is essential for building an equitable society”.

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- Pranab Mukherjee, 

former President of India, 

July 2012.

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