Priorities

The ABA’s mission is to support our member banks to build a strong, stable and trusted banking system, to grow the Australian economy and build the financial well-being of all Australians. We do this through the following four pillars.

We are working to retain the trust of the Australian people.

The banking industry has tougher rules imposed by the Government and regulators, a back-to-basics approach to banking which is squarely centred on the customer and a renewed focus on fixing culture.

Royal Commission

A lot has changed since the Royal Commission. There are tougher rules, improved culture and a refocus on customer outcomes.

Remuneration Review

The Review was completed on 19 April 2017 with the release of a Final Report into product sales commissions and product based payments in retail banking.

The Banking Code

The Banking Code is a set of enforceable standards that customers, small businesses, and their guarantors can expect from Australian banks.

We work to ensure every customer counts.

Banks play a vital role in the financial futures of Australians – the vast majority of people benefit from bank shares through direct investment or through their superannuation fund.

First Nations Banking

The ABA and member banks work closely with Indigenous groups and government.

Covid support

Australian banks were in a strong position to act as shock absorbers for customers during the COVID-19 pandemic.

Helping customers in financial difficulty

The ABA’s Financial Difficulty Guideline outlines good industry practice for supporting customers.

Financial abuse prevention

Banks are working to prevent financial abuse. Multiple resources are available to help bank staff when faced with a possible case.

Consumer Outcomes Group

A joint bank and consumer forum dedicated to improving customer outcomes in retail banking.

Stop financial elder abuse

Banks are campaigning with government and stakeholders to help protect older Australians from financial abuse.

Banking Inclusivity and Accessibility

Australian banks are committed to ensuring the accessibility of banking products and services for all people.

Credit Cards & Online Gambling

ABA member banks have introduced mechanisms to limit the harm that some may experience.

Stories of recovery

Australian banks were able to offer assistance to customers when they needed it the most.

We are helping to grow Australia’s economy.

Banks play a vital role in the Australian economy – keeping our savings safe and providing loans to support people and businesses.

Small Business

98 percent of all businesses in Australia are Small and Medium Enterprises (SMEs).

Agribusiness

Lending to agricultural businesses is at a record high of $91.5 billion, a growth of $6.9 billion in the year to Aug 21.

A strong banking system

Australia’s financial system must be strong and stable. But equally, it should ensure that the households and businesses who use the financial system are well served.

Natural Disaster Assistance

Strengthening and streamlining the industry’s response to natural disasters will increase Australia’s economic resilience.

Modern Slavery, Money Laundering, Terrorism Financing

The banking community is committed to reducing the risks and consequences of money-laundering, terrorism and slavery.

Supporting the climate transition

The banking industry accepts its collective role in supporting the Australian economy’s shift to a low carbon future and are already assisting in a balanced and orderly transition to net zero emissions by 2050.

We can imagine the future of banking.

Banks are responding to seismic changes in customer behaviour and shifting trends by investing heavily in new technology and services.

Open Banking

Open Banking will give customers more control over their banking transaction data. Get details and the timeline of key dates.

Planning for Tomorrow

The inaugural ABA Banking Conference was held at the Hyatt Sydney on 11 March 2022. Watch videos of the speakers here.

Payments

Australian consumers and businesses are at the forefront of adopting payments innovation.

Cyber

One of the banking sector’s highest priorities is to work in partnership with key stakeholders to effectively mitigate cyber threats.

Digital ID

The ABA welcomes the development of a digital identity ecosystem that supports interoperability between different solutions.