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Within this environment, financial services organisations must navigate:
It’s a time of accelerated change, with evolving expectations from consumers, businesses, investors, shareholders and regulators. New and sustainable ways of doing business, alongside rapidly advancing digital innovation and more agile competitors, are transforming the financial services market.
By working with us, you can respond to urgent issues, strengthen regulator and Board confidence, and build more connected, practical and defensible compliance capability.
With APRA and ASIC driving significant regulatory reform, governance, compliance, performance and conduct remain firmly under the spotlight, requiring practical, regulator-ready responses.
Innovation across AI, open banking and Fintech continues to accelerate, challenging businesses to adopt new capabilities while maintaining strong oversight and compliance.
Businesses must stay ahead of changing prudential requirements, requiring approaches that are visible, defensible and ready for scrutiny.
We help financial services organisations respond by strengthening regulator-ready assurance, connecting compliance across functions, and resolving urgent business-unit issues with practical, senior-led support.
ATO guidance increases evidence requirements for treaty claims through FTE structures.
The Association of Superannuation Funds of Australia (ASFA), in collaboration with JANA, has released its final Investment Manager Operational Due Diligence (ODD) Guidance Note, providing a practical framework to strengthen how superannuation funds assess and oversee operational risk
As debate intensifies ahead of the Federal Budget, this insight examines why incremental tax changes are no longer sufficient for Australia. It argues for meaningful, productivity‑focused tax reform that addresses growing reliance on personal income tax, system complexity and long‑term budget sustainability, while carefully considering broader reforms such as the GST to ensure fairness and economic resilience.
APRA continues to roll out significant and concurrent regulatory reform across the financial services sector, increasing the pressure on regulated entities to keep pace with change.
Key areas of focus include:
FAR is expected to optimise risk management and governance across banking, insurance and superannuation. Alongside this, ASIC has introduced new enforceable requirements around financial reporting and transparency.
Preparing early to ensure compliance will be key to meeting changing regulatory expectations.
Innovation is at the centre of financial services, driven by regulatory change, shifting consumer preferences and rapid technology transformation.
This is helping organisations:
From AI-driven personalisation and streamlined operations to open banking and improved risk management, there is a wide range of innovation opportunities available.
At the same time, recent data breaches have sharpened the focus on cyber security and operational resilience. Financial institutions need to stay on top of requirements including APRA’s CPS 234 and CPS 230, while adopting technology in ways that strengthen oversight and support effective risk management.
Fintechs range from digital-only banks to technologies that streamline, digitise or disrupt traditional financial services. As one of the fastest growing parts of the sector, fintechs continue to create significant market opportunities.
Growth is being driven by:
To thrive, fintechs need robust growth plans and innovative strategies. They must also respond to ongoing challenges around talent, capital access and regulatory change, with operating models that can keep pace with increasing demands.
Regulatory reform remains one of the largest challenges facing the banking sector.
Domestic banks, credit unions and mutuals are navigating:
One of the most significant post-Royal Commission changes is the shift from BEAR to FAR. Transitioning to FAR will require significant planning, a strong understanding of new responsibilities and accountability obligations, and governance arrangements that are fit for purpose.
Private health insurance has already faced a number of pressures, including restricted growth, rising premiums and perceptions of poor value, particularly among younger members.
The sector now faces further change, including:
To remain competitive, PHIs need to optimise member experiences, leverage emerging technologies and provide flexible service offerings, while maintaining strong risk and control environments.
Transparency, performance and accountability remain front of mind for superannuation funds, employers and members.
Key areas of focus include:
In this environment, trustees and executives need clear visibility over compliance and member outcomes.
Asset managers are navigating increasing regulation, margin compression and investor demands for returns and transparency in a more demanding global environment.
Key pressures include:
This is increasing the need for reporting and compliance approaches that are both efficient and robust.
Australia’s shift to real-time, instant payments is reshaping the financial landscape by phasing out traditional methods like cheques and direct debits.
For businesses, this means adapting systems and processes to support:
While new payment infrastructure requires upfront investment, it can improve cash flow, reduce operational costs and help maintain a competitive edge. It also requires implementation that is well controlled and practical to deliver.
The Grant Thornton SuperWomen Initiative was created to listen to the challenges facing women in the superannuation industry and help address some of the barriers to their progression.
Build trust with clear governance, robust evidence and assurance that strengthens confidence with regulators, Boards and stakeholders.
Access capital with confidence, present a stronger case to funders and align funding decisions to growth and operational priorities.
Solve operational challenges, improve business processes and deliver practical change aligned to governance, compliance and growth.
Manage tax obligations with greater clarity, consistency and confidence through a more connected approach to compliance.
Build trust with clear governance, robust evidence and assurance that strengthens confidence with regulators, Boards and stakeholders.
Solve operational challenges, improve business processes and deliver practical change aligned to governance, compliance and growth.
Access capital with confidence, present a stronger case to funders and align funding decisions to growth and operational priorities.
Manage tax obligations with greater clarity, consistency and confidence through a more connected approach to compliance.
Partner & National Head of Financial Services
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In the meantime, if you have any questions, please don't hesitate to contact us via communications@au.gt.com.
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