Skip to main content
Financial Assistance Hub

Government digital plan good for consumers

29 September 2020

A new digital plan announced by the Federal Government is a major step forward that will modernise the way Australians do business and deliver significant benefits to consumers.


“COVID-19 has highlighted century-old regulations slowing business down”, said ABA Chief Executive Anna Bligh AC.
 
The ABA is part of a coalition of business groups advocating for the fast tracking of moves to a paperless, contactless digital economy.
 
“These changes will make banking faster and easier”, Ms Bligh said.
 
The Australian Banking Association applauds the permanent changes allowing electronic transactions and virtual annual general meetings.

“It’s now vital that state governments follow suit, and work together through the national cabinet to ensure state and territories laws are consistent and enable consumers to conduct a range of everyday activities such as electronic mortgages”, Ms Bligh said.

“It’s now vital that state governments follow suit, and work together through the national cabinet to ensure state and territories laws are consistent and enable consumers to conduct a range of everyday activities such as electronic mortgages”

ABA CEO Anna Bligh

The Government’s funding for implementing and expanding the Consumer Data Right for open banking is also a welcome move.
 
Open banking will enable Australians to switch banks more easily and find products that suit their needs. The consumer data right will enable the safe and secure transfer of consumer data.
 
The Australian Banking Association looks forward to working with the Government to deliver the changes.


Open banking

A new digital economy



 

Latest news

1 / 3
Media Releases
Banks urge passage of Cash Distribution legislation 
12 August 2026

The ABA urges the final passage of the Cash Distribution Framework Bill 2026 and accompanying legislation through the Senate this fortnight.  ABA CEO Simon Birmingham said the legislation was a critical safety net to protect the long-term availability of cash for Australians who still rely on it.  “Cash remains an important payment option for many Australians,… Read more »

Read more
Media Releases
Banks urge Aussies to stay Census safe as scammers look to cash in
10 August 2026

Australian banks are warning households to be on the look-out for Census related scams as criminals look to get their hands on personal and financial information.  Key tips for staying Census safe:  ABA CEO Simon Birmingham said banks were on high alert for scams as criminals look to cash in on this week’s Census. “The… Read more »

Read more
Transcript
ABA CEO Simon Birmingham interview with ABC Sydney’s Thomas Oriti on offset accounts
29 July 2026

E&OERadio InterviewABC Radio Sydney29 July 2026 Topics: ASIC report into offset accounts Thomas Oriti: Do you have an offset account? I think most people with a mortgage do. If you don’t know what I’m talking about, it’s an account that’s linked to your mortgage and it saves you interest. So, I’ll give you an example…. Read more »

Read more