18 December 2019
Our Summit on 10 December 2019 was a sell-out event bringing together over 300 local and international experts. Themed ‘Payments – the key to the best customer outcomes’, this significant event in the payments calendar sparked lively debate and compelling discussion.
AusPayNet Chair, Rob Craig, opened the day by encouraging debate and participation to uncover issues that need an industry-wide focus. He quoted French essayist Joseph Joubert, “It is better to debate a question without settling it than to settle a question without debating it”, noting that this plays to AusPayNet’s strength in driving progress through collaboration.
It was a neat segue to the Reserve Bank Governor, Philip Lowe’s keynote address on ‘A Payments System for the Digital Economy’. The Governor noted the substantial progress made by the industry in ensuring the payments system supports the digital economy stating that in some areas, “Australia's payments system is world class”. He also highlighted areas where more progress is needed, touching on the importance of innovation, digital identity and resilience.
John Chaplin continued the Governor’s theme of a digital economy in his presentation on domestic innovation within a global digital landscape, emphasising the importance of industry collaboration for delivering better customer outcomes. The message was echoed in sessions throughout the day, including:
The innovation highlight was the engaging ‘big debate’ with academics, technologists and the regulator discussing the motion ‘Australia is ready for digital currency innovation such as Libra’. Both sides presented thought-provoking arguments, with a live poll of the audience revealing that we’re not quite ready - yet.
Unsurprisingly, innovation was also a key theme at our roundtables on AI, BYOD (bring your own device), Cloud, Trust, the NPP, and ISO 20022.
A full report on our Summit will be published in the new year – watch this space!