This year, we launched our inaugural Financial Services Survey, capturing insights from 152 senior leaders across banking, non-bank lending, wealth and asset management, insurance, and fintech.
The survey explores the key themes shaping Australia’s financial services landscape, including macroeconomic sentiment, growth, funding, people, digital transformation, cybersecurity, data, regulation, and Environmental, Social, and Governance (ESG) and sustainability.
Explore key insights from across the industry and dive deeper into the results, as our financial services team and experts unpack key challenges and opportunities – and discuss how leaders across the industry can prepare for what comes next.
Despite persistent headlines of uncertainty, Australia’s financial services leaders are leaning into growth. What emerged from the survey was a picture of cautious optimism, with 67 per cent of respondents feeling optimistic or very optimistic about the economic outlook over the next 12 months.
Digital transformation is clearly a growth engine, with two‑thirds of respondents reporting that digital transformation underpins more than half of their growth plans, but it’s not just about technology - the results of survey have shown that leaders are also investing in people, as many expressed concerns over employee engagement and retention, reminding us that transformation must be human-centred to succeed.
Leaders are not only capitalising on their confidence but are deliberately using it to build resilience for the future. Investment in technology, processes and people is designed to absorb the impact of future market blips and regulatory shocks, ensuring that short‑term volatility does not derail long‑term ambitions. This shift from cost‑cutting to value creation is reinforced by strong access to funding, with equity the dominant source, though some sectors, such as wealth and asset management, face tighter conditions.
In this environment, it is critical that leaders continue to focus on disciplined execution that stands up to boards and regulators while continuing to invest in innovation to keep up with the speed of change.
“This report is a snapshot of the financial services landscape today, and a peek into what’s to come. It’s also a call to action for leaders to invest with purpose, and to build an industry that’s not only resilient, but ready for what’s next. It is this spirit of resilience and adaptability that will drive our industry forward into a sustainable future for financial services.”
Although this survey has captured insights from the Australian market, in an environment of economic and geopolitical upheaval around the world, the themes emerging are globally resonant. Just like their customers, financial services operate across borders, and Australian organisations must navigate not only local challenges, but also global pressures as they build resilience and plan for the future.
At BDO, we support financial services organisations working across jurisdictions in Asia-Pacific, and on a global scale, and we’re seeing financial services leaders embrace transformation with a clear focus on resilience, innovation and disciplined execution.
Resilience is a growth strategy, and financial services leaders are demonstrating that they can unlock growth in even the most complex conditions.
Looking back, 69 per cent reported that the macroeconomic environment positively or very positively affected their business in the last 12 months
Looking forward, 67 per cent reported feeling optimistic or very optimistic about the economic outlook for the next 12 months
Funding access was reported as being easy or very easy to for 68 per cent
Growth will come from digital transformation, with two-thirds of respondents reporting reliance on digital transformation for more than half of their growth.
The publication is informed by our national survey which was completed by 152 senior leaders across Australia’s financial services industry, conducted between March and May 2025.
Of the total number of responses, 47 were collected by BDO. 105 anonymous responses were collected online between 26 - 30 March 2025 by YouGov, and included C-suites from financial services organisations with a minimum of 50 employees or an annual turnover of $20 million.
The results shared in this publication are pooled from all participants, and the figures are unweighted.
Participants represented a broad cross-section of the industry (see below), including banking and non-bank lending, insurance, wealth and asset management, fintech, and a small portion of other industries.
Our financial services team understand the unique challenges facing financial institutions - from regulatory reform and operational resilience to ESG integration, digital transformation, and global market shifts. Our multidisciplinary approach brings together specialists in risk, governance, strategy, tax, audit, and advisory to deliver practical, sector-specific solutions.
On a global scale, we work with clients across key areas including the Digital Operational Resilience Act (DORA), payments, open finance, ESG and digital. With offices in 166 countries and territories, our reach enables us to deliver seamless, coordinated support wherever our clients and their customers operate.
Find out more about our global financial services team.
If your organisation is seeking clarity, strategic guidance, or practical support, our financial services team is here to help.
We work with boards, executives, and operational leaders across banking, insurance, superannuation, wealth and asset management, and fintech to turn complexity into confidence. Whether you're preparing for CPS 230, ESG reporting, Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms, or broader transformation, we’re ready to support your next steps.
For further insights or collaboration opportunities, reach out to BDO’s experts in financial services to start the conversation.
Anders Magnusson
Mohit Malik
Nick Kervin
Elissa Bogardus
Stan Gallo
Aletta Boshoff
