There are a number of trends that could impact mutual banks and should be on every organisation’s radar.

What will be the impact on mutuals’ financial performance of market trends including permanently lower interest rates and the long-term deposit funding outlook?

How should the finance function respond to technology developments including cloud-based computing, automation and AI?

Overview

In our webinar, we explore both aspects of financial performance and the finance function, as we discuss the following:

  • What are APRA’s areas of focus for liquidity, and what should mutuals be focused on?
    In this section we dig into APRA’s recent regulatory action on banks non-compliance with APRA’s liquidity standard APS 210. We explore the themes arising from these liquidity breaches and give some practical ideas of how mutuals can prepare themselves for possible scrutiny in this area.
  • How real is the prospect of zero interest rates, and how should mutuals prepare themselves?
    We consider the likelihood of zero rates in Australia based on indicators we are observing in the financial markets. We then discuss the potential impacts and what mutuals should be considering to ensure they have the appropriate plans in place to respond to zero rates.
  • What is the attraction of the ‘cloud’ for the finance function, and what should mutuals be considering when pursuing this opportunity?
    We discuss the benefits of moving the finance function to cloud, and the prudential standards that Mutuals should be thinking of when moving to cloud. We also give some practical suggestions on how to go about implementing and mitigating the latest accounting guidance on cloud expenditure.
  • What are the considerations when choosing to implement technology solutions, where can the mutual sector start to use automation and AI in financial reporting, and what are the implications for audit work?
    We discuss the benefits of implementing solutions such as automation and AI based technology and the challenges that mutual bank finance functions face when choosing where and how to do this. We also share some examples of where technology such as robotic process automation and machine learning is currently being utilised in finance and audit, and the benefits of doing so.


How KPMG can help

If you have any questions about your organisation’s financial performance or finance function, please contact a member of our dedicated mutuals team who would be happy to organise a discussion with you.





Further information