Insights

News, Events & illumin8 in Action

Australian banks launch new defence in battle against scammers
Australian banks launch new defence in battle against scammers

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 – a set of world-leading safeguards by banks to help keep the money of Australians safe.

Adrian Lovney, Chief Payments and Schemes Officer at Australian Payments Plus (AP+), which developed the service, said Confirmation of Payee helps reduce scams and mistaken payments by checking whether the name, BSB and account number entered by a customer match the account details held by the receiving bank and showing the match result before payment is made.

“Confirmation of Payee is all about giving customers greater control and confidence when making payments,” Mr Lovney said.

“It’s a simple concept, but it adds a powerful extra layer of protection for everyday transactions.”

Australian Banking Association CEO Anna Bligh said while Australia was one of the only countries in the world where scam losses were reducing, investing further in the latest scam fighting technology was crucial to driving losses down even further.

“This is critical new technology that will help protect a customer from transferring money straight into the hands of a scammer.”

“It is a new weapon that banks will have at their disposal to better shield customers from losing money to scams.

“When the rollout is complete, Australia will be one of only a handful of countries to have this technology in place across the entire banking sector, ensuring customers are protected regardless of who they bank with. It is further proof that Australian banks are leading the way when it comes to protecting customers from scams.”

NAB Executive, Group Investigations Chris Sheehan said scammers were ruthless and sophisticated transnational criminals always looking for new ways to rip people off.

“Technology enables these criminals who can move incredibly quickly. Confirmation of Payee is another example of the banking industry collaborating to disrupt the scam ecosystem and protect customers,” Mr Sheehan, a former Australian Federal Police executive, said.

“We need all parts of the ecosystem focused on prevention to help stop the crime and drive these criminals out of Australia.”

Customer Owned Banking Association Chair Elizabeth Crouch AM said the new Confirmation of Payee service is a big leap forward in customer protection.

“Australia’s mutual banks are working hard to protect their customers’ money and the new Confirmation of Payee service is a big leap forward.”

“Developed as part of the banking sector’s Scam-Safe Accord, this crucial name-matching solution is being rolled out by all banks to deliver stronger safeguards against scams.”

“Customer-owned banks put their customers first and are committed to doing everything they can to deliver effective fraud and scam protections that work for their customers and communities.”

How it works

The new Confirmation of Payee service activates when a customer makes a first-time payment using a BSB and account number. After entering the account name and payment details, and before making a payment, a matching service checks whether the information matches the recipient’s bank data.

  • If the details match, the account name will be displayed for confirmation.
  • If there’s a close match (e.g. “John Smyth” instead of “John Smith”), the customer will see the account name and can confirm if it’s correct.
  • For individual accounts with no match, the customer will be shown a warning, and the account name won’t be shown to help protect privacy.
  • For business and government accounts, the account name may still be shown.

Using that information, the customer can then decide if they want to go ahead and make the payment, pause and check the details again, or stop the payment altogether.

A national awareness campaign will also start today under the tag line “Check the name. Spot the scam” to educate customers about this new technology.

Source: AP+ Australian banks launch new defence in battle against scammers – Australian Payments Plus

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How the Scam-Safe Accord is Making Banking Safer for Australians
How the Scam-Safe Accord is Making Banking Safer for Australians

With digital scams on the rise, Australians are demanding stronger protections for their finances. The Scam-Safe Accord, launched in late 2023, is a powerful new framework uniting major banks, regulators, and consumer advocates to tackle scams head-on and make banking safer than ever before.

 
What Is the Scam-Safe Accord?

The Scam-Safe Accord is a national agreement among all major Australian banks and financial institutions to implement tougher, smarter, and more coordinated anti-scam measures. Developed in partnership with the Australian Banking Association and government bodies, the Accord sets clear standards for scam prevention, detection, and rapid response—moving banks from isolated efforts to a united, sector-wide front.

 
What’s Changing Under the Accord?

Key initiatives include:

  • Biometric ID checks for opening new online accounts, making it harder for scammers to impersonate others.
  • Confirmation of Payee systems: A $100 million investment is delivering industry-wide technology to verify account names before payments go through, helping to stop misdirected or fraudulent transfers.
  • Mandatory payment warnings and delays when a transaction looks risky, so customers get a second chance to spot scams.
  • Sector-wide intelligence sharing so banks can learn from each other and quickly block emerging scam tactics.
  • Limits on payments to high-risk channels—if a platform is linked to high scam rates, your bank may add extra safeguards or restrictions.
  • Comprehensive consumer education and awareness campaigns to help Australians spot and avoid scams on their own.

Already, these actions are reducing scam losses: Some banks have prevented or recovered over $200 million in scam-related losses since 2022.

 
Different Perspectives

The Accord has been widely welcomed for raising the bar on security, but some warn that technology alone isn’t enough—ongoing consumer education and inclusion for older or rural Australians remain essential. There may also be rare cases where extra checks delay genuine payments, but most agree it’s a small price for greater security.

 

References
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How Confirmation Of Payee Is Putting The Brakes On Scams
How Confirmation Of Payee Is Putting The Brakes On Scams

Scams are costing Australians billions each year and the pressure is mounting on banks and mutuals to continuously step up their defences. That’s the goal of the 2024 Scam-Safe Accord, a new industry framework led by the Australian Banking Association (ABA) to reduce scam losses and improve customer protection.

A key ABA recommendation is the introduction of Confirmation of Payee (CoP) – an industry-wide service initiative of Australian Payments Plus that matches the bank account details entered by a payer with the account details held by the recipient’s bank and displays a match outcome to the payer.

Data from the 2024 Mapping Social Cohesion Report shows nearly half of Australians believe most people can be trusted which suggests they may not instinctively have fraud or scams front of mind . CoP creates a pause in the payments process, alerting customers before money moves and helping to safeguard people and businesses from fraud, scams and mistaken payments.

Indue is enabling clients to adopt CoP and strengthen payment security across the board. So how effective is it? And what role does it play in the evolving payments landscape?

We spoke with Indue’s Head of Innovation & Strategic Initiatives, Jenny Osborne to find out.

Why is CoP such a significant step forward for payment security in Australia?

Scammers often rely on urgency and quick decisions to trick people, so CoP creates a pause in the digital payments process to encourage people to stop and think, before they are caught off guard.

It puts customers in the driver’s seat, helping them make more informed choices before the transaction is complete and it may be too late. It also offers confirmation to ease doubts when something doesn’t add up.

Tools like CoP provide an important extra layer of defence for Australians to reduce both scams and mistaken payments.

What does CoP mean for Indue customers?
Under the 2024 Scam-Safe Accord, CoP is set to become an industry-wide standard. For our customers, adopting this technology is about more than compliance; it’s about keeping pace with the latest trends and maintaining parity with the bigger banks.

Scammers are quick to identify gaps in the system and banks that don’t adopt this safeguard may be seen as easy targets.
That’s a real challenge for our clients and we’re working closely with them to make sure they’re protected and prepared.

What does experience with CoP-style technology overseas tell us? And what should Australians be looking out for?
Versions of CoP exist globally across the EU, UK, New Zealand and other countries globally.

One of the most significant changes overseas has been liability. Last year, newly introduced rules from UK Payment Systems Regulator mean both the payer bank and the payee bank now share responsibility if someone is scammed . It’s a strong signal that regulators expect more from financial institutions – and it’s a trend Australia needs to be ready for.

Where does CoP fit in the broader push for safer digital payments? And what’s next?
Scams and fraud have been steadily rising in recent years and CoP is just one of many tools needed to respond.

Scammers often have more time and fewer rules than the organisations trying to stop them, which makes coordinated action across businesses and industries even more important. No one tool will be the saving grace but what’s needed is a combination of tools, regulation and education.

We’re already seeing more obligations passed down through the Treasury, Australian Banking Association and Customer Owned Banking Association, and that pressure is only going to increase.

Payment security is no longer optional but a shared responsibility across our entire digital ecosystem.

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Unforgettable customer journeys win hearts and wallets: discover how in the World Retail Banking Report 2025
Unforgettable customer journeys win hearts and wallets: discover how in the World Retail Banking Report 2025

In today’s fast-paced banking landscape, only banks that embrace digital innovation and offer their customers seamless, personalised experiences catering to their unique needs can survive. Propelled by digital banking, artificial intelligence, advanced analytics and more, this shift is redefining how banking offers and services are delivered – perhaps nowhere more so than in the world of bank cards.

Capgemini’s World Retail Banking Report 2025 invites traditional banks to:

  • Deliver tech-forward, convenience-focused card services and offers to attract the lucrative urban, digital-first demographic
  • Embrace the flywheel model to engage new customers, foster continuous growth, and build lasting relationship momentum
  • Provide individualised solutions to create unforgettable customer journeys that fuel long-term loyalty
  • Strengthen customer connections by integrating experiences beyond banking solutions.

Key findings:

83%

of retail banking CXOs cite intense competition from other card providers

26%

of customers are satisfied with their current bank card experiences

Create a continuous growth loop by offering differentiated benefits, delivering omnichannel experiences, and nurturing advocacy – is your organisation ready?


Download the report

Source: Capgemini 2025

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Indue launches ScamHub helping educate everyday Australians on threat of scams
Indue launches ScamHub helping educate everyday Australians on threat of scams

With more than $2.74 billion lost by Australians to scams this year, market-leading payment solutions provider, Indue, has launched ScamHub — a complimentary customer website portal providing educational resources for their clients to help educate their employee and customers on scams.

The initiative was made possible through Indue’s Illumin8 Social Impact program, a program dedicated to fostering positive social impact by actively supporting social causes close to the hearts of their clients and the work they do in their communities.

Indue Chief Executive Officer, Derek Weatherley, recognised ScamHub as an important resource for connecting clients with education and information regarding scams they can share with their staff and customers, giving Australians the confidence to pay every day.

“Scams are becoming increasingly sophisticated and innovative with new scam vectors constantly entering the market,” Mr Weatherley said.

“We see it as our role and responsibility to help protect our clients and their customers — everyday Australians — from scams, tackling the issue from as many angles as possible. Providing education and resources through ScamHub is one important way we can do this.

“By providing access to the latest tools and information on a user-friendly platform, we’re strengthening the collective effort to protect Australians from financial crime,” he said.

A range of resources and materials are available exclusively to Indue clients via ScamHub including posters, social media assets and educational videos on the latest scams.

Indue clients can download resources from ScamHub free of charge, for sharing internally with staff, as well as with their customers via their own channels.

“It was important to us that we provide ScamHub to our clients as a complimentary service — we see it as an extension of what we stand for as an organisation that operates in the payment solutions space,” Mr Weatherley said.

“We know scams and financial crime are big issues for all Australians, which is why we chose to actively invest in furthering financial education, working closely with our clients in doing so.

“We are committed to seeing as many of our clients as possible making use of these resources. We will continue our collaboration with them to ensure we are delivery what they and their team need to meet the market needs.”

ScamHub will be regularly updated with new materials and resources to stay ahead of emerging scams.

ScamHub is a password protected website, available free to all Indue clients and provides easy-to-use resources that can be shared internally or externally to help prevent scams.

ENDS

Media contact: Clare Mitchell

Phone: 0429 889 556

Email: [email protected]

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Australian Payment Fraud 2024 Report
Australian Payment Fraud 2024 Report

Featuring data and payments fraud trends for calendar year 2023, the Australian Payment Fraud Report 2024 highlights current trends and allows us to measure the success of existing, and develop further, industry mitigants.

Key findings:

  • Payment card fraud rate is up 22 per cent (70.2 cents per $1,000) in calendar year 2023 – the highest rate recorded since 2018.
  • Total fraud value increased 32 per cent to $762 million. This increase outpaced the growth in the total value of card transactions, which rose by 8 per cent to $1.1 trillion.
  • Card-Not-Present (CNP) fraud accounted for 90 per cent of all card fraud in Australia in 2023.
  • CNP fraud grew by 33 per cent to $688 million, on total CNP spending of $320 billion, up 24 per cent on the previous year.
  • For the first time since 2017, offshore CNP fraud overtook domestic CNP fraud, with losses in this category increasing by 51 per cent to $362 million. The offshore CNP fraud rate was $10.93 per $1,000 spent, over 10 times higher than the domestic rate of $1.06 per $1,000 spent (down from $1.11 in 2022).

The report also includes data on other fraud types including lost and stolen cards, counterfeit/skimming and cheque fraud.

Source auspaynet.com.au

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Step Inside the Minds of Global Payment Leaders at the Indue Summit 2025
Step Inside the Minds of Global Payment Leaders at the Indue Summit 2025

The way we pay isn’t just changing, it’s evolving at a pace few industries can match. From AI-driven fraud detection to centralised data ecosystems, the payments world is on the move and keeping up means knowing what’s next.

We are bringing together some of the world’s leading payment powerhouses at the Indue Summit 2025 to share emerging trends, the latest insights and real-world guidance to help drive innovation and excellence in your organisation.

Visionaries, strategists and leaders from across the payments ecosystem will take the stage to unpack every step of the payments experience, from security and speed to transparency and trust.
These leaders aren’t just talking about what’s next – they’re shaping it.

JOE GARNER – Experienced CEO and Business Leader, UK

Curious about what’s happening in the global payment arena?

Joe Garner will take the stage to share insights from his work authoring the 2024 Future of Payments Review UK – an independent government-commissioned report with recommendations to drive innovation, accessibility and security across the UK’s payments ecosystem.

With a career spanning senior roles at Nationwide Building Society, HSBC UK, Procter & Gamble and Openreach, Joe Garner is no stranger to navigation disruption – from Brexit to the pandemic – and will unpack the key global trends and decipher what they mean for Australian businesses.

Bob-Hedges

BOB HEDGES – Former Chief Data Officer, Visa

In a new digital age, it’s no secret data and AI are changing expectations regarding how we do business.

At the Indue Summit 2025, Bob Hedges, now serving as Senior Advisor for Data at Visa, will frame the new success requirements for navigating this evolving landscape to earn trust, embrace technology and build partnerships in an increasingly digital world.

With a data-first perspective, he’ll demonstrate how AI and analytics don’t require you to be a tech expert to unleash their potential for your business.

Drawing on decades of global experience leading data strategy at Visa and other major institutions, Bob Hedges brings a bold, consumer-focused, vision for the future of payments and commerce in an AI-powered world.

Andy White

ANDY WHITE – CEO AusPayNet

LUKE WILSON – COO AusPayNet

As key leaders of Australia’s self-regulatory body overseeing payment systems, Andy White and Luke Wilson are helping shape the secure, modern and resilient infrastructure that underpins how Australians pay.

Andy White will lead a panel on the fight against financial crime to explore regulatory priorities, reveal emerging threats and underline the importance of a coordinated industry-wide response to scams.

Luke Wilson will co-present a session exploring the shift toward a modern payment system, offering insights into what the future holds, the industry’s role in driving progress and how this transformation will reshape the payments landscape.

INDUE SUMMIT 2025

And this is just the beginning. The guru line-up continues with more thought leaders across business, technology, mindset and customer experience, including:

  • John Bertrand AO – International Yachtsman, Businessman and Philanthropist
  • Simon Kuestenmacher – Director and Co-founder, The Demographics Group
  • Luci Ellis – Chief Economist, Westpac Banking Group
  • Stephanie Elliot – COO, COBA
  • Sarah Court – Deputy Chair, ASIC
  • Catriona Lowe – Deputy Chair, ACCC
  • Katrina Stuart – Executive Sponsor, Move to NPP, Australian Payments Plus
  • Chris Riddell – Human Futurist, Forensic Optimist and Energising Catalyst

The Indue Summit will be held on Thursday 15 May at the Intercontinental Sydney, a day full of big ideas and big names.

Don’t miss this unique opportunity to engage in transformative discussions, network with peers, and walk away with the insights to propel your business towards tomorrow.

Find out more and register here: Indue Summit 2025

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Join us for the Indue Summit 2025
Join us for the Indue Summit 2025

Exciting news! The Indue Summit is coming to Sydney on May 15, 2025. Early Bird tickets are now on sale for a limited time. Don’t miss out on this must-attend payments leadership event.

The Indue Summit is an immersive event designed to provide you with the knowledge and insights needed to excel in the fast-changing world of payments.

Prepare to be inspired by exceptional leaders from Australia, the UK, and the USA who will share their strategies to drive innovation and excellence in your organisation.

This is your chance to dive deep into the dynamic world of payments and connect with the trailblazers and visionaries shaping the future.

Don’t miss out on this unique opportunity to engage in transformative discussions, network with peers, and leave with actionable insights to propel your business Towards Tomorrow.


Book your seat today!

2025 Speakers

Indue Summit 25

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KPMG 2024 Mutuals Industry Review webinar
KPMG 2024 Mutuals Industry Review webinar

As part of Indue’s Leadership Series: Cultiv8, we were pleased to host a webinar exclusively for Indue customers to present key findings from KPMG’s 2024 Mutuals Industry Review.

KPMG’s 2024 report provides commentary and insight on the mutual banking industry, based on an analysis of the financial results and key responses to our qualitative survey of Australian building societies, mutual banks and credit unions authorised by APRA (together, the Mutual sector).

In 2024, Australian Mutuals experienced continued growth in net assets and operating profits, improving their financial health. Higher net interest margins and consistent loan growth played an important role in this success, despite a deterioration in the cost-to-income ratio for the sector.

Despite the successes, customer-owned banks need to find a way to balance their support for communities during the current cost-of-living crisis with cost reduction, service expansion, process uplift and threat protection. But, the era of AI and advanced technology is here, and can help transform strategy and operations. Dive into our report for more insights, with special focus on digital transformation, AI, cyber security, ESG and trust and regulation.


Download the report

Read more
RFI Youth Banking Study Webinar
RFI Youth Banking Study Webinar

As part of the Indue Leadership series – Cultiv8, we’re proud to invite you to this exclusive customer event in partnership with RFI Global.

The Youth Banking Study promises to deliver unique insights on topics related to youth banking, finances and payments, including (but not limited to) financial literacy, banking relationships, payments, the role of parents and other influences and attitudes towards new technologies and providers.

Program

  • Indue Welcome & Overview
  • RFI Research Methodology
  • View from parents on financial education and banking
  • Youth banking:

               > Sentiment towards finance and banking
               > Banking relationships, decisions and drivers

  • Questions & Discussion

EVENT DETAILS
EVENT NOW CLOSED


Register today

*This event is for customers of Indue only.  Anyone registering who is not a customer of Indue will have their name and organisation shared with RFI.

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Indue AML Forum 2024
Indue AML Forum 2024

As part of the Indue Leadership series – Cultiv8, we’re proud to invite you to this exclusive customer event presented by KordaMentha and ICMEC Australia.

Operating within the payments industry comes with an obligation to minimise the opportunity for payment systems to be misused.  This is driven by regulatory compliance, a desire to minimise losses for our clients and our own corporate values around social responsibility.

All the while, others will continue to find new ways to exploit payments products and services.

This session has been developed to provide Insights into creating an organisation wide approach to Child Sexual Exploitation, for the betterment of our communities and compliance with AML/CTF obligations. 

Program

  • Indue Welcome & Overview
  • Rosie Campo, Head of Collaboration at the International Centre for Missing & Exploited Children Australia will talk about the importance of understanding the prevalence of child sexual exploitation (CSE) and how financial services can be part of the solution to fighting this heinous crime.
  • Grace Mason, Executive Director, Financial Crime at KordaMentha will share her expertise across the private and public sectors to understand the risks of CSE to your organisation, domestically and across the Asia – Pacific region.
  • Questions & Discussion

EVENT NOW CLOSED – Please register your details for upcoming events


Register today

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Regulation, challenges, innovation: Inside AusPayNet Summit 2023
Regulation, challenges, innovation: Inside AusPayNet Summit 2023

The Indue team was excited to sponsor and attend last week’s AusPayNet Summit, an annual end-of-year highlight for the payments sector, bringing together industry experts, decision-makers, innovators, and regulators for stimulating discussions on the future of payments in Australia.

The theme of this year’s AusPayNet Summit 2023 ‘A Turning Point’ – focused on how the industry can take advantage of current opportunities to deliver secure and customer-focused payments systems, within a sector focused on encouraging innovation and fostering collaboration.

As leaders in payment services, the Indue team valued the opportunity to connect with others in the industry, explore emerging trends, share valuable insights and collaborate on solutions for challenges facing our industry.

Our key takeaways included:

  • Industry, government and the RBA need to work together to modernise the rapidly evolving payment services sector.
  • Licensing of payment providers must balance risk mitigation with seamless access.
  • Reforms of the cheque system are underway but will take substantial time and effort to complete.
  • Appropriate regulation of open wallets is needed given their increasing role in the payment’s ecosystem.
  • AI can provide enhanced decision making and improved efficiency, but it isn’t always the best solution.

RBA Governor insights on payments modernisation

The Summit included a fascinating address by the newly appointed Governor of the Reserve Bank of Australia, Michele Bullock, who spoke about how the Government’s reforms to modernise the payments system will enhance safety, efficiency and competitiveness across the payments ecosystem.

The key takeout from the Governor’s address was that industry, government and the RBA will need to work together on navigating the broad range of key challenges in the rapidly evolving payment services sector.

The three key issues that will be particularly strategically important to the RBA in 2024 include: 1) the next review of retail payments regulation (which will include a focus on Least-cost routing (LCR), Mobile wallets, and Buy-now-pay-later (BNPL) services); 2) maintaining access to cash; and 3) supporting the transition from BECS to modern payment systems.

Governor Bullock noted some significant challenges will need to be overcome for the industry to successfully transition all BECS payments to more modern payment systems, including financial institutions needing to uplift their processing capacity, and enabling NPP services that can reliably handle the full range of payments that are currently processed by BECS.

A balanced approach to crucial reforms

With Australia’s payment landscape evolving at such a rapid pace, Summit discussions shed light on the crucial reforms aimed at reshaping the sector’s regulatory architecture.

Discussions about the licensing of payment providers revolved around finding a balance between safeguarding against potential risks and ensuring seamless access for users, which is pivotal for the sustained growth of the payment services sector.

As this year’s AusPayNet Summit reinforced, collaboration among industry leaders, regulators, and all stakeholders will be critical in developing a regulatory landscape that caters to the ever-evolving needs of the payment ecosystem.

Regulating new ways to pay

The shift from traditional cheque-based transactions towards digital methods has been led by customers and while the system is ready for change, a full transition and phase-out of cheques will require significant time, and substantial efforts in revamping systems and processes. It will also require overcoming barriers such as a lack of digital capabilities or distrust of digital solutions among consumers.

The regulation of open wallets is also increasingly necessary given the substantial role they play in the payment’s ecosystem. There is a need for appropriate regulation that aligns with the evolving nature of wallet providers.

Threats and opportunities of AI

Generative AI does provide a revolutionary new tool with the potential to fundamentally change the way things are done, with opportunities to significantly improve decision making, personalisation and the efficiencies of payments technology.

However, when considering security in payments, AI isn’t always the best solution. There is a need to consider how the use of AI impacts the threat landscape, as well as questions around ethics, equity and responsibility of data.

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On Demand

KPMG 2024 Mutuals Industry Review webinar

As part of Indue’s Leadership Series: Cultiv8, we were pleased to host a webinar exclusively for Indue customers to present key findings from KPMG’s 2024 Mutuals Industry Review.

KPMG’s 2024 report provides commentary and insight on the mutual banking industry, based on an analysis of the financial results and key responses to our qualitative survey of Australian building societies, mutual banks and credit unions authorised by APRA (together, the Mutual sector).

In 2024, Australian Mutuals experienced continued growth in net assets and operating profits, improving their financial health. Higher net interest margins and consistent loan growth played an important role in this success, despite a deterioration in the cost-to-income ratio for the sector.

Despite the successes, customer-owned banks need to find a way to balance their support for communities during the current cost-of-living crisis with cost reduction, service expansion, process uplift and threat protection. But, the era of AI and advanced technology is here, and can help transform strategy and operations. Dive into our report for more insights, with special focus on digital transformation, AI, cyber security, ESG and trust and regulation.


Download the report

Read more
RFI Youth Banking Study Webinar

As part of the Indue Leadership series – Cultiv8, we’re proud to invite you to this exclusive customer event in partnership with RFI Global.

The Youth Banking Study promises to deliver unique insights on topics related to youth banking, finances and payments, including (but not limited to) financial literacy, banking relationships, payments, the role of parents and other influences and attitudes towards new technologies and providers.

Program

  • Indue Welcome & Overview
  • RFI Research Methodology
  • View from parents on financial education and banking
  • Youth banking:

               > Sentiment towards finance and banking
               > Banking relationships, decisions and drivers

  • Questions & Discussion

EVENT DETAILS
EVENT NOW CLOSED


Register today

*This event is for customers of Indue only.  Anyone registering who is not a customer of Indue will have their name and organisation shared with RFI.

Read more
Indue AML Forum 2024

As part of the Indue Leadership series – Cultiv8, we’re proud to invite you to this exclusive customer event presented by KordaMentha and ICMEC Australia.

Operating within the payments industry comes with an obligation to minimise the opportunity for payment systems to be misused.  This is driven by regulatory compliance, a desire to minimise losses for our clients and our own corporate values around social responsibility.

All the while, others will continue to find new ways to exploit payments products and services.

This session has been developed to provide Insights into creating an organisation wide approach to Child Sexual Exploitation, for the betterment of our communities and compliance with AML/CTF obligations. 

Program

  • Indue Welcome & Overview
  • Rosie Campo, Head of Collaboration at the International Centre for Missing & Exploited Children Australia will talk about the importance of understanding the prevalence of child sexual exploitation (CSE) and how financial services can be part of the solution to fighting this heinous crime.
  • Grace Mason, Executive Director, Financial Crime at KordaMentha will share her expertise across the private and public sectors to understand the risks of CSE to your organisation, domestically and across the Asia – Pacific region.
  • Questions & Discussion

EVENT NOW CLOSED – Please register your details for upcoming events


Register today

Read more
KPMG 2023 Mutuals Industry Review webinar

As part of Indue’s Leadership Series: Cultiv8, we were pleased to host a webinar exclusively for Indue customers to present key findings from KPMG’s 2023 Mutuals Industry Review.

KPMG’s 2023 report provides commentary and insight on the mutual banking industry, based on an analysis of the financial results and key responses to our qualitative survey of Australian building societies, mutual banks and credit unions authorised by APRA (together, the Mutual sector). 

The last 3 years have seen unprecedented disruption for the mutual banking industry in Australia to navigate, from the impacts of Covid in 2020 and 2021 to climate-weather events in 2022.  Challenges for customer-owned banking institutions continued into 2023 with softening economic conditions, high inflation levels contributing to further interest rate increases and the cost-of-living pressure continuing to have an impact on their customers.  

Economic uncertainty both globally and nationally continues to put financial pressure on local communities. Supporting these communities is a core purpose for the mutual banking sector as unlike investor-owned banks, the profit of customer-owned banks are not paid to shareholders but reinvested to meet their customers’ banking needs. 

Notwithstanding this, the mutual banking sector operates within the broader banking ecosystem which provides multiple challenges for a purposeful future.


Download the report

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illumin8 in Action

Derek Weatherley completes his 9th Vinnies CEO Sleepout
Derek Weatherley completes his 9th Vinnies CEO Sleepout

Indue’s CEO, Derek Weatherley, braved the chilly Sydney night to participate in the Vinnies CEO Sleepout. This annual event raises awareness and funds for the St. Vincent de Paul Society, a charity dedicated to combating homelessness in Australia.

Derek’s commitment to this cause is unwavering, having taken part in the Sleepout for nine consecutive years. Through his efforts, he has raised over $100,000 for Vinnies, with this year’s contribution alone totaling an impressive $14,000—surpassing his target.

Thanks to the continuous support from Indue’s community, Derek’s fundraising efforts have had a significant impact on the lives of many. Vinnies uses these funds to provide essential services like food, accommodation, and support programs, offering hope and a path forward for those experiencing homelessness.

The Vinnies CEO Sleepout is more than just a fundraising event; it’s a powerful reminder of the challenges faced by those without shelter. By spending a night on concrete and cardboard, Derek and other participants gain a deeper understanding of the harsh realities of homelessness.

Indue is proud of Derek’s ongoing dedication and thanks everyone who has supported the Sleepout these past 9 years and supports our Indue Values of Real Heart. Real Action.

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Dnister & Indue Long Term Partnership
Dnister & Indue Long Term Partnership
Pictured above: Andrew James (Dnister, CEO ), Derek Weatherley (Indue, CEO), Solomiia Vozniak (Dnister, Personal Banker), Frank Gullone (Indue, Chair), Bohdan Wojewidka (Dnister Board Chair).

This was a special week for the Indue Team as we welcomed our long term partners, Dnister to our offices. The partnership we have with Dnister is 32 years young and has been particularly special in recent years due to us working closely together to assist people who have been displaced as a result of regional conflict and found themselves in Australia with nothing but the clothes on their back.

Our staff were honoured to hear directly the powerful story of Solomiia, a refugee who connected with Dnister upon arrival in Australia. After initially being supported by Dnister, Solomiia went on to be employed by Dnister and worked tirelessly to support many other refugees through a range of support programs. These included the basic necessities of life, through to support groups, all the way through to assistance with financing new businesses to establish livelihoods in Australia. Indue was pleased to partner with Dnister on one of these programs, through our own community support program, Illumin8.

Indue was honoured to receive a Motanka doll as a token of thanks. The Motanka doll is of particular cultural significance in the Ukraine and represents courage, bravery and friendship. The doll holds a small piece of amber in its hands to remind us to always hold on to the sunshine through the difficult journeys in life.

The story was a bright illustration of the difference between a community bank and a commercial bank and the impact that mutuals can have on making a better society.

Thank you to Dnister for your partnership and for your outstanding work in bettering our society.

COBA 2023 Presentation

Take the time to have a listen to the Dnister story and presentation shown at the 2023 COBA conference. Solomiia Vozniak spoke to Key Leaders of the finance industry in Australia about her journey as a displaced person and the role Dnister and the community plays in support of those who recently arrived.

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illumin8 in Action – Tour de Rocks
illumin8 in Action – Tour de Rocks

We are proud to celebrate our Indue Director and General Manager of Coastline Credit Union Peter Townsend for successfully completing the challenging Tour de Rocks a 3 day bike ride stretching 190kms from Armadale up to Guyra and back down again. Peter undertook this amazing journey in support of Tour de Rocks who raise money for cancer research.

Not only did Peter conquer hilly terrains, but his team also managed to raise an incredible $50,000 to aid this remarkable cause!

Tour de Rocks’ mission is to engage and inspire communities to raise awareness in relation to cancer prevention through healthy living, assist those battling the disease and raise funds for cancer research.

Join us in congratulating Peter and showing our appreciation for all the hard work and effort he put into this incredible fundraising effort. Indue were proud to be able to sponsor Peter for this incredible challenge.

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Proud Silver Sponsors at COBA 2023
Proud Silver Sponsors at COBA 2023

We’re proud to announce our silver sponsorship of COBA 2023, customer-owned banking’s leading annual event on the Gold Coast. COBA delivers engaging keynotes, interactive panel discussions, and hands-on workshops, focused on driving growth and innovation.

Head to: www.coba2023.com.au to register today and come and visit our stand ‘Silver 3’ while you’re there!

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Salvos Volunteering
Salvos Volunteering
30 August, 2023

Well done to the 6 Sydney and 4 Brisbane team members who hit the Salvos Warehouse at their Tempe and Red Hill locations to volunteer their time to give back to this great organisation. From price tagging books and clothing items, to the big job of Alphabetising the large selection of novels, the team were busy in the warehouse and on the floor – one was so comfortable in his volunteer role that he was mistaken for Staff and asked about the furniture for sale.

The Salvos’ Floor Manager was most impressed with the work the team did in organising the bookshelves – the team compared their respective step count at the end and it was very impressive as they raced from A through Z of what would have been over 10 000 books.












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illumin8 in action
illumin8 in action

We are proud to celebrate our Head of Architecture, Keith Bromwich, for successfully completing the challenging 6-day Jatbula Trail in Northern Territory! What’s even more amazing is that Keith undertook this incredible journey in support of Careflight, an incredible non-profit organization dedicated to saving lives with their critical care aeromedical services all over Australia.

Not only did Keith conquer mountains and brave rough terrains, but he also managed to raise an outstanding $9000 to aid this remarkable cause! This money will go a long way in ensuring that Careflight can continue to make a difference in countless lives, providing much-needed help when it’s needed the most.

Careflight’s dedication to providing urgent medical assistance is truly inspiring, and we are proud to be part of their mission. With every dollar raised, we contribute to their ability to bring hope and support to those in desperate need.

Join us in congratulating Keith and showing our appreciation for all the hard work and effort he put into this incredible fundraising trek. Together, we can make a difference and support organizations like Careflight that selflessly serve our communities.

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