As has been widely publicised, banking institutions globally are facing a new, more challenging era. Australian authorised deposit-taking institutions (ADIs) are no exception.
The Australian ADI sector is undergoing transformation. This is due to a confluence of various factors including:
structural changes arising from technology;
introduction of mandatory Open Banking;
FinTech and RegTech innovations;
prolonged, ultra-low interest rates;
subdued credit growth; and
house price volatility, among others.
Gen Advisory's visual report summarises the sector's key developments in 2019 as well as expected outlook for 2020.