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This article explores the evolutionary trends in financial services, focusing on the recommendations of the Murray Inquiry to facilitate innovation in the industry and enhance user outcomes.
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October 2017 Evolutionary trends in financial services: 3 years after the Murray Inquiry Kevin Davis University of Melbourne Australian Centre for Financial Studies & Monash University kevin.davis@unimelb.edu.au
The AFSI: Technology & Innovation • “The Inquiry’s recommendations seek to provide more facilitative settings that enable financial firms to innovate – increasing competitive tension, delivering greater efficiency and enhancing user outcomes.” • Focus on: • government-business cooperation; • removing regulatory impediments; • supporting data-driven business models; • regulator flexibility