Gen Advisory's suite of services is designed to meet the ever-adapting demands of the Australian financial services sector.

Our services include the following:

Licensing & Compliance

The Australian ADI and FinTech sectors have proved resilient in the face of adversity. Although the COVID-19 pandemic has caused upheaval amongst ADIs and FinTechs, the fundamentals of both sectors remain solid. Demand for ACL and AFSL licenses, in particular, remain strong.

How Gen Advisory can help ADIs and FinTechs on licensing and compliance

Gen Advisory provides end-to-end support to ADIs and FinTechs in the following areas:

  • Australian Credit Licence (ACL) applications.

  • Australian Financial Services Licence (AFSL) applications.

  • Ongoing AFSL and ACL obligations;

  • Accredited Data Recipient (ADR) accreditation.

  • Provider of Purchased Payment Facilities (PPF) authorizations;

  • AUSTRAC reporting entity obligations.

 RegTech  

Innovations

Mirroring overseas trends, the FinTech and RegTech sector in Australia has been growing rapidly in recent years. The outlook for the sector remains positive.  


Gen Advisory’s view is that if managed appropriately, FinTech and RegTech can bring tremendous benefits to ADIs. We believe that ADIs which are able and willing to capitalize on the benefits which FinTech and RegTech bring will enjoy a competitive advantage over those which merely regard them as a compliance exercise.

How Gen Advisory can help ADIs with FinTech and RegTech adoption

  • Provide strategic advice to ADI Boards on FinTech and RegTech opportunities and use cases.

  • Provide strategic advice to ADI Boards on how the FinTech and RegTech can benefit their organization.

  • Deliver bespoke training on the different types of FinTech and RegTech available.

  • Deliver bespoke research on a specific FinTech/RegTech-related area of interest.

  • Manage and execute, on the ADI's behalf, a project on FinTech and RegTech adoption.

  • Delivering an end-to-end FinTech and RegTech solution to ADIs,

  • Conduct due diligence on prospective FinTech and RegTech providers.

Consumer

Data Right

The first iteration of the CDR in Australia - a limited pilot involving the four major banks -

went live on 1 July 2019.

Given the inevitability of the CDR regime,  the question ADIs and FinTechs are currently considering is not whether to adopt the CDR, but how to make the most of it. In this context, Gen Advisory has observed several compelling CDR use cases which we believe would greatly benefit any ADI or FinTech which adopts them.

How Gen Advisory can help ADIs and FinTechs implement the CDR

  • Provide strategic advice to ADI and FinTechs on Accredited Data Recipient (ADR) requirements, use cases, and opportunities vs threats. 

  • Deliver bespoke research on a specific CDR-related area of interest.

  • Deliver bespoke training on the CDR.

  • Manage and execute, on an ADI’s behalf, an end-to-end CDR implementation project.

  • Conduct due diligence on prospective CDR solutions providers.

Gender

Pay Gap

The Australian “financial and insurance services” sector is one of the most female-dominated sectors in Australia. It is unfortunately also the sector with the highest gender pay gap in the country.

 

According to data published by the Workplace for Equality Agency (WGEA), as of May 2019, the sector’s mean pay gap was at a nation-wide high of 24.4%. 

Gen Advisory’s view is that ADIs and FinTechs have the responsibility and ability to reduce this gap.

How Gen Advisory can help ADIs and FinTechs reduce the gender pay gap

  • Provide strategic advice to ADI and FInTech Boards on gender pay gap issues, including recommendations on how to rectify them. 

  • Deliver bespoke research on a specific gender/financial equality-related area of interest.

  • Deliver bespoke training on gender and financial equality issues, tailored to the ADI's needs.

  • Manage and execute, on the ADI's behalf, a project to close the gender pay gap within their organization.

  • Conduct an independent review of the ADIs existing pay arrangements 

 

Sustainable

Finance

The term “Sustainable Banking” refers to banking practices that integrate “environmental, social and governance” (ESG) criteria. 

 

Unlike “traditional/conventional” banking, which is based on a two-dimensional risk and return analysis, Sustainable Banking considers three dimensions: risk, return, and impacts.

 

Gen Advisory’s prediction is that the future, there will no longer be a dichotomy between traditional” and “sustainable" banking. By definition, all banking must and will be sustainable.

How Gen Advisory can help ADIs incorporate ESG criteria

  • Provide strategic advice to ADIs on the latest developments and insights on Sustainable Banking – including how ADIs can incorporate ESG criteria into their credit lending decision..

  • Deliver bespoke research on a specific Open Banking-related area of interest.

  • Delivering bespoke training on Sustainable Banking and ESG criteria.

  • Manage and execute, on an ADI’s behalf, an end-to-end project on Sustainable Banking and ESG implementation.

Banking as a

Force for Good

The ADI sector is one of Australia’s largest financial service providers and employer groups. Almost all Australians are either a customer or an employee of an ADI. 

 

Given their wide reach, ADIs have the ability to contribute to solving some of the major social issues currently afflicting Australian society. These include: 

  • Australia’s aging workforce; 

  • domestic violence; 

  • substance abuse;  

  • mental health; and 

  • financial exclusion, among others.


In Gen Advisory’s view, ADIs should tackle such social issues, not just for altruistic reasons, but also for financial reasons. Evidence suggests that organizations that attempt to make a positive contribution to society often end up “doing well by doing good”.

How Gen Advisory can help ADIs "do well by doing good"

  • Provide strategic advice to ADI Boards on the social issues currently being faced by Australian society - which will likely include the ADI's customers and employees.

  • Provide strategic advice to ADI Boards on what they can do to help.

  • Providing strategic advice to ADI Boards on the benefits and opportunities which can arise from serving as a "force for good".

  • Deliver bespoke research on a specific social issue or problem of interest, together with recommended solutions. 

  • Deliver bespoke training on how ADIs can "do well by doing good" 

  • Manage and execute, on an ADI’s behalf, a project to tackle one on the social issues identified above. 

  • Conduct due diligence on prospective solutions providers.

FinTech Hub

Stone & Chalk

Level 4, 11 York Street

Sydney, NSW 2000

Australia

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Contact Us

+61-2-8088 0744

Head Office

Level 10, 420 George Street

Sydney, NSW 2000

Australia

©2020 Gen Advisory Pty Ltd | | The Gen Advisory™ name and logo are registered trademarks of Gen Advisory Pty Ltd,

an Australian limited liability proprietary company. | ACN: 626 943 968 | ASIC Registered Agent number: 45485 | All rights reserved.

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