At the same time, regulators may need to revisit processes designed for a brick-and-mortar world when approaching digital finance. To ensure that fintech realizes its positive potential, regulators and firms alike should take a long view, with thoughtful engagement on both sides.
The Bank has also been a partner in the recent upgrading of Australia’s payment system, which is allowing you to make more timely payments. For many Australians, their biggest single financial decision is whether or not to borrow to buy a home. It is an important decision, one that can have a major bearing on your finances for years to come.