Future of Banking – 2034
While 2034 sounds more like the setting for a Skynet take-over, It’s also just a short 10 years down the road and we all know how quickly things can change in a decade. Looking in the finance sector, Banking in particular, I see a number of emerging changes that are set to reshape the environment – so let’s revisit in 10 years and see how close/far off I was. And entirely out of left field, this is my view of the most drastic change we might see: Banks as Product Manufacturers.As OpenData, AI and FinTech converge on the industry, I…
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Rethinking Compulsory Superannuation: A Closer Look at Australia’s Retirement Savings System
In Australia, the mandatory Superannuation system has been a cornerstone of retirement savings for decades. Introduced to ensure Australians have sufficient savings for their post-work years, this system requires employers to contribute a portion of an employee’s earnings into a superannuation fund. However, there’s been an ongoing debate about the efficacy and fairness of this compulsory approach. Is it time to rethink the mandatory nature of Superannuation? The Case Against Mandatory Superannuation 1. Government Control Over Personal Savings: 2. Reduced Take-Home Pay: 3. Impact on Small Businesses: 4. Investment Risk and Market Volatility: 5. Delayed Benefit and Inflexibility: 6. Inequity…
Keep readingMost talked about trends in personal finance 2023
In 2023, the most talked there was plenty of conversation on the role of personal finance in our lives, and how the state of innovation in the space has created a healthier outlook.
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Clinton Cunningham 