Many of Australia's top banking experts came together today in Sydney to discuss the future of the industry, how to tackle local and global challenges and identified areas for reform.
Keynote speaker, RBA Governor Philip Lowe, addressed the sold-out conference this morning, setting a tone for the day which focused on 'Planning for tomorrow'. The Governor talked about planning for higher interest rates, the changing nature of money, climate change and the restructuring of energy systems.
The conference heard from key industry leaders including ABA Chair and Westpac CEO Peter King, ABA Deputy Chair and Bendigo and Adelaide Bank MD and, Marnie Baker, APRA's Wayne Byres, ASIC's Joseph Longo and a range of other professionals across a variety of lively panel sessions.
ABA CEO Anna Bligh said, "We're thrilled to have hosted such important industry discussion in a face-to-face setting today after what has been a challenging few years."
"Governor Philip Lowe's address really set the agenda for the day and what followed was diverse and intriguing conversation about what the future holds for our industry, stakeholders and of course, banking customers.
"The ABA recognised the need for a banking conference to provide a platform for policy and regulatory debate," said Ms Bligh.
More than 30 industry leaders addressed the audience throughout the day, deep-diving into the opportunities, digital disruptions, new customer trends and risks that face the banking industry.
Governor Lowe explained an interest rate rise was "plausible" in 2022, while Joseph Longo outlined ASIC concern about "greenwashing" and the need to urgently regulate the cryptocurrency market in Australia.
Peter King, Marnie Baker and Anna Bligh said customers remain the priority and discussed how banks will support people impacted by the floods and assist customers as Australia continues its digital transformation.
"The conference was themed Planning for tomorrow and the speakers explored the future of the industry and the need to modernise the regulatory architecture to ensure it's fit for purpose"
"I think we can already say this year's inaugural conference was a success and we will look forward to hosting the conference again in 2023."
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