Since then, two frameworks for interoperable digital identity services have been developed, but there has not been a large-scale rollout of a digital identity service that can be used for a wide range of online (including private sector) interactions. ﻿[ 1] So further progress on this front would be welcome. The final focus area I want to mention is cross-border payments.
It still often costs about 5 per cent of the payment (and sometimes more) to send money internationally from an Australian bank and it usually takes more than one day to reach the recipient. We know from our discussions with the central banks of the South Pacific that too often it is disadvantaged people who pay the highest prices.