Financial Services

Quarterly Market Update.

Technology & Architecture

Cloud AI/ML Modernisation

AI

Financial services firms across Australia are accelerating cloud migration and AI adoption, driven by cost pressures, customer experience expectations and the need for real-time decisioning. 


Key trends include the shift from lift-and-shift cloud strategies to cloud-native architecture, the growing use of AI/ML for credit risk modelling, fraud detection and customer personalisation.


As well as the rise of agentic AI, where systems autonomously execute multi-step workflows. 


For technology leaders, the priority is building AI-ready data infrastructure while managing model governance and explainability obligations under emerging regulatory expectations.

Regulatory & Compliance

The regulatory landscape continues to intensify. APRA's CPS 230 (Operational Risk Management), which came into force in July 2025, is driving significant uplift across business continuity, third-party risk, and technology resilience programs.


ASIC remains focused on digital advice, AI-assisted decision-making, and conduct obligations in retail financial services. Firms are also navigating the ongoing rollout of APS 117 (interest rate risk), continued investment in CDR/Open Banking infrastructure, and preparation for the incoming Financial Accountability Regime (FAR) obligations.


Compliance uplift in these areas is creating sustained demand for skilled contract resources.


Cybersecurity

The threat landscape facing Australian financial institutions continues to evolve rapidly. Ransomware, business email compromise, and supply chain attacks remain the dominant vectors, with APRA's CPG 234 setting the baseline expectation for information security capability.


Increasingly, firms are investing in zero trust architecture, identity and access management uplift, and security operations capability, both to meet regulatory requirements and to respond to a more aggressive threat environment.


Talent in cloud security, security architecture, and third-party risk remains highly sought after.