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Three challenges facing Australia’s banking and financial services sectors, and how to overcome them.
Key takeaways:
- Australia’s banking and financial services industries face the challenges of a changing regulatory environment, cyber threats, and evolving customer expectations.
- Banks and financial services organisations can rely on regulations continuing to grow stricter, which will affect their profitability and costs.
- Cyber threats are advancing, thanks to AI. Australian regulators fear banks and financial services organisations aren’t prepared.
- Customers expect seamless digital interactions, transparency, and for banks and financial services organisations to build a foundation of trust with them.
- Turning to an experienced customer communications provider enables you to focus on your core business without sacrificing regulatory compliance, cybersecurity, or customer trust.
Challenge 1: A changing regulatory environment
Regulations in the Australian banking and financial services industry will continue to change, which will affect how banks do business and their profitability.
The Australian government has introduced regulations to increase consumer safety, resilience, and competition. However, the effect has been either higher costs or reduced margins for banks. Yet despite this challenging atmosphere, banks must still produce clear communications that comply with regulations and serve as touchpoints for customers to build long-lasting relationships.
Challenge 2: Advancing cyberthreats
In addition to tighter regulations, banks and financial services organisations operate in a risky cybersecurity environment. The bad news is that it’s only growing riskier. Cyber threats will not only continue to hit Australia’s banks and financial services organisations, but these threats will also become more complex and harder to stop.
The Australian Prudential Regulation Authority (APRA) warned that the banking industry isn’t prepared for the rate of change AI will bring with it. AI can speed up and increase the impact of cyber attacks, and if banks and financial services organisations aren’t ready for these threats, they could be victim to major breaches.
Challenge 3: Evolving customer expectations
The news for banks and financial services organisations isn’t all doom and gloom. RFI Global, an analyst firm in the financial services space, reported consumer sentiment towards banks rose from 90.3 in December 2024 to 97.3 by the end of 2025 – its highest level since mid-2022.
However, customer expectations of their banks and financial services organisations have risen. Customers want greater transparency and perceived fairness. Trust remains foundational – customers want to know that banks will protect their data and their assets. They also expect seamless, intuitive and secure interactions across every digital interaction.
Why work with a trusted customer communications vendor
A trusted customer communications vendor allows banks to focus on their core business while still delivering secure, compliant customer communications that build confidence. Computershare has over three decades of experience in the banking and financial services sector in Australia.
We understand the regulatory environment and are prepared for changes so that you’ll be compliant. You won’t be caught off guard by new regulations or compliance penalties, because we’re keeping current with them.
When it comes to data security, we treat your information like it’s our own. Our ISO 27001:2022-certified processes, 24/7 monitoring, secured infrastructure, and independent assessments (IRAP) protect brands and customers at all times.
Working with Computershare allows you to continue fostering strong relationships with customers while you focus on your core business. Our customer communications expertise enables us to design clear, effective communications that make it easy for customers to take the next step.
Are you ready to work with a trusted customer communications vendor who protects your reputation? Contact us today.
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