We engage with the media to champion the customer owned banking model and advocate for a more competitive retail banking sector that benefits all Australians.
A recent survey of over 1,000 Australians reveals parents have the biggest influence on banking choices, with more than half (53%) choosing their primary bank due to parental guidance. This means Aussies risk missing out on benefits like competitive rates, superior customer service, and values-aligned institutions. The survey[1], commissioned by the Customer Owned Banking Association … Read more
Australian banks have today unveiled their latest scam fighting technology, with the launch of Confirmation of Payee – a new name-matching service designed to help protect customers from being tricked into sending money to criminals. Banks have invested $100 million in this new technology which is a key initiative of the sector’s Scam-Safe Accord … Read more
A new survey of more than 1,000 Australians reveals 40%[1] have emailed photos of their passports, driver’s licences or ID cards through their personal email accounts – significantly increasing their risk of falling victim to scammers. Alarmingly, 56% of those who have emailed identification information, admitted they didn’t delete the email after sending it, and … Read more
Customer-owned banks have once again been named Australia’s most trusted banking sector, according to the latest Roy Morgan Bank Trust and Distrust Scores Report. The report, based on Roy Morgan’s ongoing Risk Monitor surveying approximately 25,000 Australians[1] each year, marks customer-owned banking’s second consecutive recognition as most trusted banking sector and shows a further improvement … Read more
As NSW communities grabble amidst record floods, customer-owned banks are ready to provide support. “We understand this is an incredibly stressful time, but customer-owned banks stand with their customers and communities, ready to assist where needed,” Customer Owned Banking Association (COBA) CEO Michael Lawrence said. “If you’re experiencing financial hardship, please reach out to your … Read more
The Customer Owned Banking Association (COBA) has welcomed the Government’s ministerial appointments. “We congratulate Dr Jim Chalmers MP on his reappointment as Treasurer, Dr Daniel Mulino MP on his appointment as Assistant Treasurer and Minister for Financial Services, and Clare O’Neil MP on her reappointment as Minister for Housing. We look forward to working with … Read more
With the upcoming federal election, the Customer Owned Banking Association is urging Australians to be alert against scammers. “Election periods are an opportunistic time for scammers due to heightened public interest and sense of urgency, and the only way to truly protect yourself is to be vigilant with any type of unsolicited contact – even … Read more
The Customer Owned Banking Association warns Australians to be on the alert for scammers targeting people impacted by ex-Tropical Cyclone Alfred and those looking to help through donations. “In the chaos following severe weather events and natural disasters, it is important to be vigilant as scammers prey on people’s desperation and goodwill,” said COBA Head … Read more
A new report from the National Anti-Scam Centre (NASC) shows scam losses declined in Australia for a second consecutive year, with a 25.9% decrease from 2023. “Australia is setting a positive example in the fight against scams, defying global trends. However, the fight against scams is far from over. Customer-owned banks remain committed to significantly … Read more
