Connections and Collaboration
The Australian payments landscape has never been more vibrant and it’s for this reason that we have chosen the theme of ‘connections and collaboration’ for our annual report this year. As the number and nature of participants grows and diversifies, so does our role, requiring us to be nimble in outlook and collaborative in focus.
In the last 12 months we have laid the foundation for our more connected future through a number of important initiatives. Whether giving rise to the next generation of commerce, shaping the New Payments Platform, ensuring the next wave of innovation, or supporting the Australian Payments Council, we have been at the forefront of change.
Navigating through Disruption
This theme for this year's Review directly acknowledges a good start to a challenging journey.
The outstanding example is the industry commitment to fund and build the New Payments Platform (NPP) in partnership with SWIFT, which was secured in December 2014.
The Review’s thematic structure captures the key elements of our mission:
Laying the foundations for the Australian payments system of the future.
The theme of our 2014 Review "breaking ground" recognises the new world facing us all as a result of the explosion of cloud, network and mobile technologies.
Our payments system has served us well, but thanks to the “always on, always linked” world being ushered in by our mobile devices, it must adapt, and fast. We are not alone, of course: nearly every industry faces similar challenges in relation to digital disruption.
But “breaking ground” is also a metaphor for the payments industry response to this new world. We have in the last year or so begun laying the collaborative foundations for new industry infrastructure that, we hope, will position us for future adaptation, innovation and competition.