cover image: Bank On It: Customer Trends 2024


Bank On It: Customer Trends 2024

3 Jul 2024

While the information in this document has been prepared in good faith, Accenture disclaims, to the fullest extent permitted by applicable law, any and all liability for the accuracy and completeness of the information in this document and for any acts or omissions made based on such information. [...] Foreword by ABA CEO Anna Bligh The world is in the midst of a digital revolution and Australians are leading the way, with a willingness to embrace technological change and advancement in all aspects of their life. [...] 32 | | 33 03 | HOW CUSTOMERS PAY The number of banknotes on issue continues to grow, despite the decline in use of cash for payments • In 2022 just 13 per cent of retail payments were made • As at May 31, 2024 the value of $50 and $100 using cash, down from 69% in 2007.1 notes on issue comprised 94% of the total $101.2bn banknotes on issue. [...] The ABA works with government, regulators the ABA surveyed member banks for additional information and other stakeholders to improve public awareness and on branch interactions, non-branch interactions (online understanding of the industry’s contribution to the economy banking, app, phone and chatbot), mobile wallet transactions, and to ensure Australia’s banking customers continue to cheque usage. [...] Anna started in the role in April 2017 and is focused on four major banks provided information and when both the strengthening trust and confidence in banking and delivering ABA and Accenture were comfortable that the results were better outcomes for customers.
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