AUSTRALIA Trends and Developments Contributed by: Charmian Holmes, Jaime Lumsden, Michele Levine and Jessica Smith, Hamilton Locke
What’s Next? It is anticipated that the next few years will involve rolling out and bedding down major reg - ulatory reforms across payments, digital assets, BNPL, artificial intelligence and AML/CTF. It is likely these regulatory reforms will trigger con - solidation and transaction activity given the cost of compliance and the fact that scale is critical to the pathway of profitability. Consolidation is expected in payments, digital assets and BNPL over the next few years. It is also forecast that that advancements in technology will provide new products and solutions as well as mitigate and/or introduce new risks to the financial sys - tem that will need to be navigated by regulators and industry alike.
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