“ADI” is short for “Authorised Deposit-Taking Institution”. They refer to financial institutions which are authorised (by APRA) to:
accept deposits from members of the public; and
offer any of the following products :
Savings and transaction accounts;
Cash management accounts;
Mortgage offset accounts;
Pensioner deeming accounts.
As of 25 May 2020, there were 146 ADIs in Australia.
What are Gen Advisory's services?
Gen Advisory’s suite of services is tailored to suit the ever-adapting demands of the Australian ADI sector.
Our core services include helping ADIs:
Implement the CDR and digital transformation;
Benefit from FinTech and RegTech innovations;
Adhere to the Hayne Royal Commission’s recommendations for the ADI sector;
Incorporate ESG criteria;
Reduce gender pay gaps in Australian banking; and
Serve as a “force for good”.
Why these 6 services?
Gen Advisory has intentionally focused on these 6 services because our market research and analyses show that these are the most relevant and pressing areas for Australian ADIs at this time.
Gen Advisory’s suite of services is responsive to the ever-changing needs of the Australian ADI sector. We continually review and refine our service suite to ensure that they remain current and relevant to ADIs.
Can Gen Advisory assist in areas outside of these 6 services?
As long as the subject matter falls within Gen Advisory’s range of expertise (i.e. banking strategy, regulation, FinTech & RegTech, and financial inclusion), we would definitely be in a position to assist.
What is unique about Gen Advisory?
What is unique about Gen Advisory is that our team members have both banking industry and regulatory and experience.
This means that any advice and services we provide are both:
How does Gen Advisory differ from the “Big 4” professional services firms ?
As “full-service” firms, the “Big 4” professional services companies (PwC, KPMG, EY and Deloitte) offer a broader range of services, encompassing: (i) audi; (ii) tax; and (iii) advisory. These firms also caters to a broad range of sectors and business – not just financial services.
Gen Advisory is a smaller and more specialised alternative to the “Big 4”.
We differ from the “Big 4” in the following ways:
Gen Advisory focuses solely on the ADI sector. We do not focus on any other sectors or industries.
Gen Advisory only provides advisory and related services. We do not offer audit or tax assistance.
What are Gen Advisory's fees?
The fees charged by Gen Advisory are commercial and broadly in line with industry averages. We endeavour to keep our prices affordable, as we recognise that smaller and/or newer ADIs often have limited budgets.
Gen Advisory’s general preference is to charge a project-specific, pre-agreed fixed fee - rather than based on an hourly rates,
This fixed fee structure provides our clients with cost certainty and “piece of mind”. It means that any risk of budget or time overruns would be borne by Gen Advisory, not the client.
What is Gen Advisory's message to other professional service firms (including the "Big 4")?
Gen Advisory’s message to other professional firms (including the “Big 4”) is that we are a friendly and collaborative organization. We do not regard ourselves as having "competitors" - only 'potential collaborators'."
Gen Advisory would be pleased to collaborate with, and/or cross-refer, peer advisory firms where this would result in an optimal outcome for our clients.
Gen Advisory’s view is that there is enough room in the Australian ADI sector to fit all of us.
Who is Gen Advisory?
Gen Advisory Pty Ltd is a specialist Australian professional services firm supporting authorised deposit-taking institutions (ADIs). Our head office is located in the Sydney CBD.
We also have a branch office in Melbourne.
What does Gen Advisory do?
As banking professionals, Gen Advisory provides advice and other specialised services which help ADIs fulfill their commercial and social objectives.
Our expertise extends to bank strategy, banking regulation, FinTech and RegTech; and financial inclusion.
Who are Gen Advisory's team members?
The Gen Advisory team has extensive banking regulatory and industry experience, having previously worked for: the Australian Prudential Regulation Authority (APRA); National Australia Banking Group (NAB); and Australian Government, among others.
Our team members’ profiles can be found here.
Our team would describe ourselves as: friendly; collaborative; professional; competent; passionate; and honest.
Who would benefit from Gen Advisory's services?
Gen Advisory’s expertise and services are suited to:
Traditional banks and mutuals;
Financial institutions seeking to become an ADI; and
Financial institutions seeking to become AFSL or ACL-holders.
What are "typical" Gen Advisory activities?
Gen Advisory’s “standard” repertoire of activities comprises:
Gen Advisory has the ability to tailor our activities and service delivery modalities to suit the needs of each client engagement, to ensure “fit-for-purpose”.
What else is unique about Gen Advisory?
Another differentiating feature about Gen Advisory is that we do not have any internal sales targets. Our staff does not have any “utilization/chargeable rates” which they need to fulfill.
This means that our team members have the time and luxury to have extensive conversations with clients both existing and prospective) and truly understand their business needs - without the pressure of a “clock ticking”.
Why should ADIs choose Gen Advisory?
Gen Advisory wishes to emphasize that the “Big 4” professional firms do great work. There will always be a need for these larger, “full-service” firms – particularly for larger ADIs with more complex needs.
Gen Advisory’s research shows there is a need for a specialist service provider to cater specifically to smaller and/or newer ADIs (and FinTechs) – which often have similar, yet simpler needs. For such ADis, we believe that Gen Advisory would be a “better fit” and more affordable alternative.
Gen Advisory's philosophy is that "we do not have any 'competitors' - only 'potential collaborators'". The Australian ADI sector is large enough to fit all of us.
Why does Gen Advisory have a presence in New York?
Gen Advisory has established an affiliated corporation in New York – “Gen Advisory Incorporated”. We did so because our research shows there is a need for a specialist provider like ourselves in the New York market.
On a more personal note: New York also happens to be our founder Michael Lukman’s favourite city in the world!
What is Gen Advisory's message to ADIs?
Gen Advisory’s message to ADIs is a positive one. You have, in our firm, an ally in the achievement of your commercial and social goals.