Challenges
Customer-owned banks, including mutual banks and credit unions, were originally established to support various professions, local communities and provide excellent customer service. Their community focus is what differentiated these mutual ADIs from the big banks.
However, all financial institutions, big or small, are licensed by the Australian Prudential Regulatory Authority (APRA). Customer-owned banks carry the same responsibility of upholding compliance, safeguarding security, and minimising downtime for their members each and every day.
Experteq has been a dedicated partner of the Australian-owned ADI sector for over 30 years and is owned by banking organisations within Australia. Our origins lie in hosting and managing core infrastructure, and we remain committed to the ongoing support of the sector as it navigates the new challenges of an increasingly digital world.
We understand the evolving requirements of ADIs and the opportunities that lie ahead for the sector. Our experience and expertise allow us to provide complete ICT solutions that deliver a secure and compliant digital future for these organisations and their members.
What lies ahead for the sector
Increased digital transformation across the industry has resulted in a greater need for cyber security and compliance and it will remain so for the foreseeable future, as threats become more complex and sophisticated.
Planning for the future also requires ADIs to adapt and innovate in other areas. As the modern workplace evolves to become more customer-focused and increasingly hybrid, long-term success for ADIs will depend on their ability to stay one step ahead of disruption at all times.
Key concerns for the sector
Preventing human vulnerabilities from being exploited
Cyber criminals are now using AI and deepfake technologies to exploit human vulnerabilities as a way of undermining the security posture of organisations. Industry leaders must ramp up cyber security training and awareness efforts in order to respond to these threats.
CPS 230 comes into effect June 2025
The new CPS 230 regulatory framework from APRA is a crucial compliance aspect for financial services organisations. It emphasises the security of customer information and data, with non-compliance carrying severe penalties, reputational damage, and legal consequences.
Cyber security needs to keep pace with accelerating disruption
In the digital transformation journey, organisations must balance technology adoption with robust security measures. New infrastructure brings new risks, therefore necessitating sound resource allocation and clear accountability to ensure secure practices.
New privacy reforms: Data in the spotlight
As the Privacy Legislation Amendment takes effect, ADIs must prioritise fair and secure practices, mitigate privacy risks, and meet transparency demands to comply with the new regulations and safeguard data. Expert guidance is essential in navigating this change.
Relevant solutions
Vivien Allen
CEO, Geelong Bank
Brad Hinton
Chief Operations Officer, Regional Australia Bank
Scott Wall
Chief Information Officer, BankVic
Steven Purdy
General Manager, Bank Technology RACQ
The Human Element of Cybersecurity
With cybercrime on the rise and new ways of working increasing the attack surface of most businesses, how can Mutual ADIs ramp up cyber security and ensure their organisations are protected and future-ready? We explore this and other themes in our new discussion paper.
How Experteq partners with ADIs
Deep technical and industry expertise
We provide customer-centric support with a human touch, leveraging deep industry expertise in the ADI sector to implement solutions that keep organisations compliant, relevant, and secure by applying best practices learned across the sector.
Cost efficiencies in the current climate
Amid digital shifts, ADIs must find ways to manage internal costs while keeping up with member demands and safeguarding data. We collaborate with you to provide cost-effective adaptation, streamline processes, security, and value for members.
A culture of compliance
Regulations are always evolving, posing challenges for organisations like ADIs. With deep sector experience, we ensure compliance, offering expert support in meeting standards and implementing appropriate processes.
Core operations support
We support the core operations of ADIs by providing IT support, infrastructure management, and cyber security services. We optimise operations, allowing you to focus on delivering high-quality services to your members.
Security at scale
Cyber needs are constantly evolving. We ensure scalable and adaptive security services that keep up with your growth. Our solutions detect threats, ensure compliance, and enable focus on operations, aligning with growth.
Risk mitigation
ADIs often have limited resources to dedicate to risk management. Our services are designed to evaluate and address security risks on an ongoing basis while ensuring compliance with regulations and standards.
Clients who trust us as their IT Partner
Partnering for success
We collaborate with industry-leading partners to deliver the best solutions and services for our clients’ needs.
Insights
- By Karla Day
- March 27, 2023
- By Experteq
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