by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Connexus : Issue 41
mutuals may str uggle, Hedgman believes the era of mobile payments “fits fair and square with our business model”. “ We have a high proportion of teachers who are ver y computer literate, and that fits perfectly with our remote style of operation suppor ted by limited branches.” Hedgman agrees, nevertheless, that mutuals will have to help each other to compete with cashed-up competitors. “Smaller mutuals who are str uggling will have to assess whether they’re up to the changes, and two of the obvious choices are to either merge or implement greater efficiencies to remain competitive.” Some mutuals may team up to provide mobile pay-to-anyone ser vices. Tony Schesser, senior manager, research and advisory services at Abacus, says it is logical for mutuals to join forces to provide innovative payment services as they try to compete with the major banks. New payment technologies will connect the industry to third-party prov iders such as Google Wallet and Apple, for example. Schesser notes that Abacus members have gained cost and efficiency benefits in the past by centralising their core banking and supporting systems. “ This has been a real positive for many of our members, and the capability to aggregate technical solutions in suppor t of payment innovation is a real strength,” says Schesser. Many mutuals will work closely with ser v ice provider s to leverage the benefits of centralised solutions, but Schesser @ The Reserve Bank... has acknowledged that the ageing national payment infrastructure needs reform... www.abacus.org.au 17