Dhiren Kulkarni

Every day, Australians are targeted by increasingly sophisticated scams. At NAB, we believe education is one of the most powerful tools we have to protect our customers, communities and ourselves.   That’s why we’re proud to bring back NAB’s Big Scam Education Conversation. On Tuesday 26 August, we’ll be hosting two free webinars —one for everyday Australians and one for businesses.   These sessions feature insights from NAB’s security experts Chris Sheehan, Nichole Ruderman and Winston Lewinsmith, covering: - The latest scam tactics and trends - Red flags to watch for - Practical steps to protect yourself and your business   Whether you’re a customer or not, this is a chance to learn how to stop scams before they happen — and to share that knowledge with someone you care about. Register here: https://lnkd.in/gqAycwhw

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Papua New Guinea’s financial sector is evolving rapidly, with Open Banking seen as a key driver of change, says Michael O. Koisen, the Group CEO of TISA Bank Open Banking enables consumers to securely share banking data with third-party providers via APIs, unleashing new financial services and products. “Open Banking can create a collaborative ecosystem where financial data is a shared resource,” Koisen said. This can boost innovation, enhance product offerings, and improve credit access for underserved populations like those in remote areas and the informal economy. Building on PNG’s Credit and Data Bureau, which shares credit histories among banks, Open Banking would expand data sharing to include account balances and spending patterns. One practical step Koisen emphasizes is creating a shared, unbranded Point-of-Sale system to lower costs and prove the power of collaboration. Beyond payments, Open Banking promises tools for consolidated financial management, streamlined loan processes, and tailored loan offers. It also opens credit opportunities for those lacking formal credit histories. Koisen acknowledges challenges like regulation and data security, urging the government, Bank of PNG, and financial institutions to collaborate on a clear roadmap. PNG’s financial sector, valued at about K80 billion, is more developed than many Pacific islands like Fiji but faces hurdles including vast geography, limited infrastructure, and a high unbanked population (~80%). Mobile banking and digital services are expanding to bridge gaps, but connectivity and ID verification remain issues. Compared to the wider Asia Pacific, PNG’s sector is less advanced but is making steady progress through reforms and digital initiatives aiming to improve financial inclusion and literacy. Photo Credit: Tisa Bank

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A year is a long time in AI... who else is amazed at the developments we are all seeing around us on this front? The 2025 Customer Owned Banking Association convention in Brisbane kicked off yesterday with a thought provoking (harrowing?) governance session for Directors and CEOs including content from Tim Trumper, author of AI: Game On: How to Decide Who – or What – Decides and followed by a panel conversation with Chairs Andrew Kearnan GAICD, MBA, Sam Martin-Williams FAICD FGIA CMILT, Simon Terry and Elizabeth Crouch AM FAICD on the theme of Technology, Trust and Modern Governance. I'm buying Tim's book to take home.. stay tuned for a future review! Meantime, what were my key takeaways for decision makers? - Modern governance is a team sport - involve all the Board members and key execs in prioritising purpose-led AI innovations to optimise return on investment. - Strategy intersecting with innovation: Tim illustrated when to leverage AI for efficiency and enhanced member experiences—and when human oversight remains essential. His approach marries agility with accountability. - Guardrails are key: Ethical frameworks remain essential for boards and executives looking to adopt AI responsibly. - Building Sustainable Advantage: Tim’s case studies emphasized competitive positioning that aligns with your organisation’s values—ensuring member interests, long-term resilience, and societal good are front and centre. - The future is now: For all of us, it is clear that AI is no longer a futuristic ideal—it’s a strategic imperative and core to operating business today. - Unite for Impact: Mutuality and cooperation are core to the fabric of customer-owned banking and in overlay with AI can help us continue to differentiate our offerings from the big banks in a scalable way. For leaders and board members, this was more than a keynote - it was a call to action. Looking forward to connecting with colleagues throughout the next 2 days at #COBA25 as we look to #UniteForImpact. #AI #governance #customerownedbanking #mutuality

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This year is proving to be a pivotal one when it comes to securing and streamlining the online checkout experience. Ever felt a little nervous typing your card details into a checkout page? A major step forward was called out in our Q2 earnings, with Mastercard's Click to Pay rollout gaining strong momentum in Australia. Westpac and Commonwealth Bank are now bulk enrolling millions of customers into the experience. This marks an important milestone in delivering our 2030 vision to safeguard the Australian payments ecosystem. Click to Pay removes the need to manually enter card numbers when shopping online, replacing them with tokenised credentials and biometric authentication. It’s a simple and secure way to pay, and a powerful example of how we’re tackling Australia’s billion-dollar online fraud problem. Well done to the teams driving this progress, and thanks to Tamika Seeto for the write-up. Link in the comments 👇 #ClickToPay #Mastercard #DigitalPayments #Innovation #Security #CX #Tokenisation #eCommerce

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25bp cash #rate cut expected in August. Quarterly trimmed mean inflation tracking at 0.6%–0.7%, so inflation is within target says Westpac Chief Economist Luci Ellis in today's #WestpacIQ note. RBA likely to continue reducing monetary restrictiveness, including by cutting the cash rate at its August meeting. Full article: https://lnkd.in/gTScz_UF #RBA #interestrates #inflation

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On 5 September representatives from the RBA, Commonwealth Treasury, Australian Payments Network and Australian Payments Plus participated in the first meeting of the Account-to-account Payments Roundtable. The Roundtable’s main purpose is to develop a common vision for the future of the account-to-account payments system and a plan to achieve that vision. Modernising the account-to-account payments system to meet the future needs of its end users is a priority payments policy initiative for the RBA. A summary of the first meeting can be found at: https://ow.ly/6p9o50WUkT6

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Beyond Bank Australia is advancing a data strategy to give frontline staff real-time insights to respond faster and with more personalisation and precision. Speaking to the iTnews Podcast, Beyond Bank’s group executive for technology and chief information officer Stevie-Ann Dovico said the strategy would better equip staff with “insights that you need to have really good conversations”. "What I want to do is be able to give [our] people a superpower like eating a mushroom in Super Mario,” she said. "They're able to anticipate needs, have those conversations and get to the needs of the customer faster.” Listen and read more iTnews https://lnkd.in/gRSddRWV

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