Each year, on the last Friday of August, we come together to celebrate Wear It Purple Day, a powerful movement that champions safe, supportive, and inclusive environments for LGBTQIA+ youth. What began in 2010 as a student-led response to the tragic consequences of bullying and harassment has grown into an international movement of visibility, love, and solidarity.
The 2025 theme, ‘Bold Voices, Bright Futures’ celebrates LGBTQIA+ individuals living authentically and achieving their dreams in all areas of their lives, from sport and science to art and advocacy.
It’s a reminder that when we create inclusive spaces, we empower people to thrive.
At Cuscal, we believe that diversity, equity, and inclusion are not just values, they are commitments. We’re proud to support Wear It Purple Day; to celebrate the LGBTQIA+ community, both within and outside our workplace, to help build a culture where everyone feels seen, heard, and valued.
Whether you’re part of the LGBTQIA+ community or an ally, your voice and support matters. By wearing purple on 29 August 2025, you’re helping to create a brighter, more inclusive future for all.
Important Information: The information in this video is current as at 28 August 2025 and is subject to change. Cuscal Limited ABN 95 087 822 455.
In the time it takes to buy your morning coffee, over 1,500 invisible transactions have already silently pulsed across Australia. Each one representing a meal purchased, a bill paid, or a business deal closed.
This invisible network is the heartbeat of our economy, powering everything from everyday payments at the checkout to multi-million-dollar business deals. Yet few stop to think about the sophisticated technology behind it all.
From Cash to Code: The Seismic Shift in How We Pay
Not so long ago, cash was king, cheques were more common, and digital wallets were science fiction. Today, we’re living in a payment revolution that’s transforming how business gets done.
From tap-and-go to PayIDs and digital wallets, we’ve shifted from physical to digital, from delayed to real-time, and from passive transactions to dynamic customer experiences. This isn’t just evolution—it’s a complete reinvention of how money moves.
Rethinking Payments: Your Untapped Business Advantage
For today’s businesses, payments aren’t just a necessity—they’re a strategic advantage. They’re how innovative companies:
Deepen loyalty and lifetime value.
Streamline operations and scale efficiently.
Unlock insights through data.
Deliver better customer outcomes, faster.
Businesses like yours are behind some of the most cutting-edge payment experiences used today. And who is powering those experiences? We are.
Powering $450B+ in Payments Per Year: The Cuscal Story
Today, we’re tackling the big challenges: advancing open banking, fighting sophisticated fraud, and building tomorrow’s payment infrastructure.
Outside of the major banks, we’re the largest centralised provider of payment infrastructure connectivity in the Australian payments industry. We combine:
The licensing, capital strength, and regulatory credibility of an ADI,
The agility and innovation of a fintech,
A history of disciplined disruption, and
The resilience and security of a trusted, long-term partner.
We’re transforming the future of how money moves and how Australia does business.
Cuscal’s Impact in Numbers
Since our inception, we’ve partnered with forward-thinking businesses.
Payments aren’t one-size-fits-all. We collaborate with financial institutions, fintechs, and corporates — from superannuation funds and insurers to loyalty program providers — to enhance their customer experience through payments, working with them to deliver tailored solutions to meet their unique needs.
What’s Next: The Future of Digital Payments
The payment landscape continues to evolve at breakneck speed. From blockchain to biometrics, from embedded finance to invisible payments—the next wave of innovation is already here.
By delivering faster, safer, and smarter payment experiences, we’re transforming how money moves, supporting competition, and powering Australia’s progress—one transaction at a time.
Whether you’re a bank expanding its offering, a fintech scaling new products or any enterprise- sized business that’s powered by the ability to take and make payments, we’re your partner for what’s next.
Important Information: Information in this article is current as at 27 August 2025 and is subject to change. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business Cuscal Limited ABN 95 087 822 455.
Diversity, equity, and inclusion (DEI) are more than just principles, they are embedded in how the Cuscal operates, leads, and grows. We’re committed to creating a workplace where every individual, regardless of their background, identity, or experience, feels safe, included, and empowered to thrive. Our commitment stems from the understanding that when people thrive, the business thrives too. DEI is a meaningful journey, with progress already underway in areas including gender pay equity and leadership representation.
Cuscal recognises that DEI extends beyond gender, embracing cultural diversity, First Nations inclusion, LGBTQIA+ representation, neurodiversity, and diversity of thought. Initiatives such as our hybrid working models and our neurodiverse-friendly office space are already making a difference. We acknowledge that building a truly inclusive workplace and culture takes time. Our employees are encouraged to actively champion DEI in their daily work, helping to shape a respectful, inclusive, and forward-thinking culture.
Watch the video and see our Chief Legal and People Officer, Freya Smith discuss moving DEI forward at Cuscal.
Important Information: The information in this video is current as at 26 August 2025 and is subject to change. This information is provided for general information purposes only and not for the purpose of providing legal, financial or investment advice. This web copy and video are not to be distributed to any other party without Cuscal’s prior written consent. Cuscal Limited ABN 95 087 822 455.
Cuscal Managing Director, Craig Kennedy has advised the market today that Cuscal Limited (Cuscal) has entered a conditional, binding agreement to acquire all of the shares in Indue Limited (Indue), an Australian payment services provider, subject to regulatory approvals (the Acquisition).
Commenting on the Acquisition, Cuscal Managing Director, Craig Kennedy said: “We are excited to announce the strategic acquisition of Indue. The Acquisition represents an important evolutionary step for both businesses, bringing together two organisations with a shared heritage, similar values and a complementary client base. The Acquisition is anticipated to drive material synergy opportunities and will result in a more resilient and more sustainable payments business.”
“We look forward to welcoming the Indue team and clients to Cuscal and believe that our experience in seamlessly integrating acquisitions and large-scale client migrations, along with the steps we have taken to ensure our success, including establishing an Integration Advisory Committee, will help us effectively combine the two businesses. It will also help us better support clients and staff and ultimately realise value for shareholders.”
When Cuscal joined the ASX last year, we made a commitment to pursue organic and inorganic growth, and the Acquisition marks a significant milestone in our strategic journey. Together with the outstanding banks and organisations we work with and support, we’re proud to have the opportunity to enable even more Australians to access the best in fast, secure, digital payment and data service experiences. The acquisition drives these benefits in the following ways:
Client benefits from enhanced product and service offerings, operational efficiencies and innovation at scale.
Improved resilience across capital, capabilities, cybersecurity and fraud monitoring that better positions the combined business to respond to heightened regulatory standards, complexity and cost.
Increased investment capacity from financial and product synergies that will enable greater innovation and investment in best-of-breed resources and capabilities to continue to deliver services both now and into the future.
Further updates will be shared once the Acquisition is completed (pending regulatory approvals).
After an extensive market search, we are delighted to announce the appointment of Rebecca Tissington to the newly created role of Head of Strategic Growth at Cuscal.
Bec joined Cuscal through our acquisition of regulated data business Basiq, and was appointed Head of Strategic Partnerships in November 2024. Since May 2025, she has been simultaneously acting as Head of Business Development.
At Basiq and at Cuscal, Bec has brought exceptional energy, focus, and drive. Her appointment reflects not only her deep expertise but the significant impact she’s already made across the business.
Commenting on the appointment, Cuscal Chief Client Officer, Michael Blomfield said: “Bec is the ideal candidate to lead the growth components of our FY25-29 strategy to secure, extend, expand and drive our business forward. She brings an ideal mix of deep care for our clients and a highly specialised understanding of the market and where it’s heading.”
Previously, Bec has led successful business development and partnership teams in senior roles at Visa, Citi, and CBA, as well as at high-growth fintech scale-up, Basiq. Whether launching Australia’s first virtual card via Conferma, negotiating white-label credit card deals, or supporting the first NFC Tap n Pay transaction for Cuscal and Credit Union Australia while at Visa, Bec has a strong track record of bringing innovation to market through collaboration and execution.
Away from work, she’s a passionate foodie, mother of two, advocate for sustainable urban planning and a regular speaker on fintech innovation. With energy, authenticity, and a relentless focus on transformational outcomes, Bec isn’t just navigating the future—she’s moving payments forward.
The way Australians pay is changing rapidly. Industry leaders discussed the technology reshaping the future of payments in Australia at Cuscal’s Curious Thinkers 2024.
From speed and security to customer experience and fraud prevention, these innovations are creating new opportunities (and challenges) for the payments landscape.
Below, we recap four key technologies discussed by panelists: Real-time Payments, Digital Wallets, Digital Identity, and Data.
1. Real-time Payments
Real-time payments deliver instant, account-to-account transfers, boosting cash flow and eliminating settlement delays. PayTo, a feature of Australia’s New Payments Platform (NPP), offers both businesses and consumers more visibility and control over their payments while maintaining security and privacy.
Real-time payments are already proving effective across multiple industries, including retail, utilities, and government transactions, reinforcing their long-term viability and reliability.
Many Australians still default to traditional card payments, making widespread adoption slower than expected. However, panelists noted that once users try PayTo, they consistently choose it for its convenience and security.
“What we are finding is people, once they’ve used it … they really like it…We’re certainly seeing the proof that real-time account-to-account can be used in many, many situations.” Tom Rundle, Chief Product Officer, Azupay
Set-up for success
Driving adoption of real-time payments will take effort from both banks and businesses, including:
Optimising business integration: Ensuring backend systems support real-time reconciliation and reporting will help businesses transition smoothly.
Strengthening security and trust: Clear fraud prevention measures and robust consumer protections will reassure users and encourage uptake.
Raising consumer awareness: Educating customers on the benefits of real-time payments, such as speed, reliability, and security, will boost confidence and usage.
2. Digital Wallets
Digital wallets let users store payment cards on their smartphones or wearable devices to make quick, secure payments in stores, online, and in apps. Instead of using a physical card, users can tap and pay at contactless terminals or authorise transactions digitally.
Digital wallets have become a go-to payment method in Australia.
According to the RBA, Australians made over 398 million mobile wallet payments in February 2025, totaling more than $16.6 billion across both credit and debit cards.
“Consumers expect payments to be as seamless as the services they use. Digital wallets fit that expectation.” Tom Rundle, Chief Product Officer, Azupay
Set-up for success
Key enablers that will help drive adoption include:
Provider agnostic solutions: Implementing solutions that support multiple digital wallet providers.
Complementing real-time payments: Understanding when and how to offer both digital wallets and real-time payments to meet consumer expectations for convenience and security.
3. Digital Identity
Digital identity will play a key role in the future of payments in Australia. Strong verification mechanisms, such as biometric authentication and government-issued digital IDs, will be crucial in reducing fraud and enhancing transaction security.
Biometric authentication is already playing a role in how Australians access financial services, with many institutions using tools like facial recognition and fingerprint scanning to verify users.
“Digital identity [enables] two things. It’s who are you? And the other thing is what are you allowed to do? And often [not all parties to a payment] need both of those pieces.” Tom Rundle, Chief Product Officer, Azupay
Set-up for success
Key enablers that will help drive adoption include:
Building consumer trust: Consumers need confidence that their digital identity is secure, private, and protected against misuse.
Interoperability across systems: A widely accepted digital identity must integrate seamlessly across financial institutions, businesses, and government services.
4. Transaction Data
Data is transforming payment ecosystems, helping businesses enhance fraud detection, improve customer experiences, and streamline reconciliation.
More Australian businesses are harnessing structured payment data to improve reconciliation and fraud detection. AI-powered analytics are enabling financial institutions to identify suspicious transactions in real time. Additionally, data-driven decision-making is helping businesses streamline payments, cut operational costs, and enhance security.
Set-up for success
Key enablers that will help drive adoption include:
Accurate data: Ensure data accuracy to prevent processing errors.
Data standardisation: Industry-standard formats to ensure interoperability across financial networks.
Prioritise privacy and security: Strong security and privacy measures to maintain consumer trust and regulatory compliance.
Bringing it all together
The payments landscape in Australia is evolving rapidly, driven by real-time transactions, digital wallets, digital identity, and data innovation.
These technologies offer immense benefits, from faster and more secure payments to enhanced customer experiences. However, successful adoption depends on trust, seamless integration, and consumer awareness.
References Reserve Bank of Australia, ‘C1.1 Credit and Charge Cards – Original Series’ and ‘C2.1 Debit Cards – Original Series’, Reserve Bank of Australia website, statistical tables, February 2025, accessed 30 April 2025, <https://www.rba.gov.au/statistics/tables/xls/c01-1-hist.xlsx, and https://www.rba.gov.au/statistics/tables/xls/c02-1-hist.xlsx>
Important Information: Information in this article is current as at 16 May 2025 and is subject to change. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business Cuscal Limited ABN 95 087 822 455.
Cuscal held its annual invite-only client conference, Curious Thinkers, on 12-13 November 2024 at the W Sydney. There was a talented line up of international and local speakers discussing the possibilities of payments. We heard about the future of payments, the global economy, AI, the digital world we live in, fraud and scams, and data monetisation.
Thanks to our MC Adam Spencer and all our thought-provoking speakers; Alan Thorogood, Angela Powell, Anushri Bansal, Barbara Wixom, Brendan Dowling, Cameron McEvoy, Charlotte Rush, Chris de Wit, Dom Thurbon, Edle Everaert, Evan Craig, Kausar Kenning, Lee Yearsley, Lynne Cardwell, Marc Eames, Michael Blomfield, Monica Muski Angelis, Nathan Churchward, Stela Solar, Tom Rundle, and Tracy Hall.
We look forward to seeing our clients again at Curious Thinkers 2025.
Watch the video to reflect on Curious Thinkers 2024.
Important Information: The information in this video is current as at 12 and 13 November 2024 and is subject to change. This information is provided for general information purposes only and not for the purpose of providing legal, financial or investment advice. The information contained in the web copy and video does not constitute an offer, a solicitation of an offer or to enter a legally binding contract. The video contains material provided by third parties. While such material is published with the necessary permission, Cuscal does not accept any responsibility for the accuracy or completeness of any such material. Although Cuscal has made every effort to ensure the information is free from error, Cuscal does not warrant the accuracy, adequacy or completeness of the information. Except where contrary to law, Cuscal intends by this notice to exclude liability for the information. This web copy and video are not to be distributed to any other party without Cuscal’s prior written consent. Cuscal Limited ABN 95 087 822 455.
Did you know that, according to a recent report from Xero, 25% of consumers would visit another business if their preferred payment method wasn’t available? These days, payments are more than just transactions – they are make-or-break moments for customer retention.
The importance of consumer-centred payment systems was a key theme at Cuscal’s Curious Thinkers 2024 event. The panel highlighted why businesses must rethink their payment systems to align with consumer expectations and offer seamless, secure, and flexible options.
Below, we explore the shifting landscape of consumer payments, why businesses must prioritise a consumer-centred approach, and steps they can take to enhance the payment experience for their customers.
Meeting Consumer Expectations: The Changing Payments Landscape Consumers today expect more choice, transparency, and security in their payment interactions. The rise of digital wallets, real-time payments, and buy-now-pay-later (BNPL) solutions reflect this demand.
The report from Xero on how businesses and consumers are making and taking payments found that:
38% of consumers experience frustration when their preferred payment method isn’t available.
26% cite limited payment options as a reason for dissatisfaction.
25% would visit another business that accepts more payment methods.
These statistics underscore the need for businesses to offer diverse, frictionless payment options to meet evolving consumer expectations.
Beyond Transactions: Why Payment Experience Matters Have you ever abandoned a purchase because the checkout process was too complicated or a payment option you preferred wasn’t available?
Payments are an essential touchpoint in the purchase process that can influence customer satisfaction and brand perception, for better or worse. Whether it’s a quick tap at a café or a major online purchase, a seamless payment experience can foster trust and build loyalty.
The rapid growth of e-commerce has been a major driver of this shift. Take Amazon, for example. Its one-click payment system revolutionised online shopping by eliminating unnecessary steps and reducing checkout friction. Similarly, Apple Pay and Google PayTM have redefined mobile transactions by allowing secure, instant payments with minimal effort.
Consumers accustomed to fast and frictionless online payments expect the same convenience across all channels. For businesses, this means:
Delivering on speed and simplicity: Customers expect fast and intuitive transactions.
Ensuring security and privacy to build trust: Clear authentication measures without unnecessary hurdles.
Offering choice and flexibility: Multiple payment options to cater to different preferences.
Managing complexity: Ensuring smooth integration and efficient backend systems while offering more payment options.
How Businesses Can Create Better Payment Experiences Developing a consumer-centred payment system requires practical steps and thoughtful strategies. Below are recommendations from Cuscal’s Head of Payments & Innovation, Nathan Churchward, on how businesses can create a better payment experience for customers.
Know Your Customers, Meet Their Needs Businesses must assess their customers’ behaviour and preferences to tailor payment solutions. Different demographics and business types have unique payment needs, so offering a one-size-fits-all solution may not be effective. Local payment providers can offer practical solutions to help businesses choose the best payment options for their customers.
Listening to consumer feedback is also key. Understanding and addressing pain points in the payment journey helps refine strategies, improve the experience, and build trust with customers.
Make Payments Effortless and Secure A great payment experience should be both effortless and secure. Tokenisation helps by reducing the number of times customers need to enter their card details, making transactions smoother while keeping data safe. Digital wallets like Apple Pay simplify the process even further, allowing for fast, secure payments with a single tap. The best solutions remove friction and enhance security without adding extra steps.
Empower Customers Through Information Customers feel more confident when they understand how different payment options work and what benefits they offer. Businesses that educate customers on their choices (especially when encouraging a preferred payment method) build trust and transparency.
If using surcharges to guide payment decisions, pairing them with clear explanations ensures customers see the value rather than just the cost. It’s also important to reassure customers about security, especially for prepaid services or payments made in advance, by highlighting measures in place to protect their funds.
Seamless Payments, Streamlined Experience Payments should work in real-time and integrate seamlessly into business operations. Traditionally, card payments have led the way in integration and instant processing, but newer options like NPP and PayTo are catching up. The challenge has been ensuring these payment types update systems in real-time for smoother reconciliation and automation.
Businesses should seek payment providers that offer real-time payment APIs to maintain efficiency without compromise. PayTo, for example, enhances integration by eliminating the need for customers to manually enter details, allowing businesses to pass transaction data directly to the customer’s bank for easy authorisation. The right payment solutions should support automation, reduce manual processing, and improve the overall payment experience for both businesses and customers.
Prioritising Consumer Needs for Long-Term Success A truly consumer-centred payment system goes beyond technology. It requires a deep understanding of customer behaviour, a commitment to security, and an effort to educate users. Businesses that align their payment strategies with consumer needs will enhance customer satisfaction and drive loyalty and long-term growth.
References ANZ Subject Matter Experts 2024, ‘The digital payment revolution: what businesses need to know’, ANZ Insights website, article, 6 November 2024, article, accessed 17 February 2025, <https://www.anz.com/institutional/insights/articles/2024-10/the-digital-payment-revolution>
ANZ Worldline 2024, ‘Why Chief Market Officers should prioritise their payment strategy Part I’, ANZ Worldline website, article, 9 September 2022, accessed 17 February 2025, <https://anzworldline.com.au/en/home/knowledge-hub/blogs/why-chief-market-officers-should-prioritise-their-payment-strate>
Xero 2024, ‘I want to pay that way’, Xero website, report, 2024, accessed 17 February 2025, <http://www.xero.com/campaign/i-want-to-pay-that-way>
Knowledge at Wharton Staff 2017, ‘Why Amazon’s ‘1-Click’ Ordering Was a Game Changer’, Knowledge at Wharton website, podcast and article, 14 September 2017, accessed 11 March 2025, <https://knowledge.wharton.upenn.edu/podcast/knowledge-at-wharton-podcast/amazons-1-click-goes-off-patent>
Google Pay is a trademark of Google LLC. Apple Pay is a trademark of Apple Inc., registered in the U.S. and other countries.
Important Information: Information in this article is current as at 14 March 2025 and is subject to change. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business Cuscal Limited ABN 95 087 822 455.
Getting the Most Out of Your AI by Improving the Quality of Your Data AI is transforming how payments businesses, financial institutions, and corporates operate by improving efficiency, fraud monitoring, and customer experience. The value AI delivers hinges on the quality of the data it processes, a key theme discussed at Cuscal’s Curious Thinkers 2024 event.
AI applications are already making an impact in financial services with customer service bots, predictive analytics, and fraud monitoring systems. According to the Wall Street Journal, businesses are already using AI to provide personalised offerings to clients, identify clients, and identify fraud in real-time.
AI adoption in financial services is accelerating, with a recent ASIC review identifying 624 AI use cases across banking, credit, insurance, and financial advice. Over half (57%) were developed in the past two years or still in progress, and 61% of licensees plan to expand AI use within the next year. This momentum reflects the sector’s commitment to leveraging AI-driven solutions to stay competitive and deliver enhanced value to customers.
These advancements are delivering measurable benefits, but they are only as effective as the data that supports them. As IBM notes, poor-quality data can undermine AI initiatives, leading to unreliable outputs and heightened business risk.
The Opportunity for Payments Businesses Generative AI is reshaping industries, offering both economic and operational advantages. J.P. Morgan Research estimates that generative AI could boost global GDP by as much as 10%, adding between $7–10 trillion to the economy. Over the next few years, it is also expected to drive a significant surge in workforce productivity.
Closer to home, AI adoption is delivering tangible economic benefits for Australian businesses. Recent research from Microsoft and Mandala estimates that by 2035, the AI economy could generate $18.8 billion in annual revenue for Australia. Additionally, businesses investing in generative AI are seeing a $3.50 return for every $1 spent, often within just 14 months.
The success of these AI systems, however, hinges on the quality of the data driving them. AI tools process enormous amounts of datasets to generate insights. When those datasets are incomplete, inaccurate, or poor quality, the results can be unreliable—or worse, damaging.
The Quality Question Payments providers and financial institutions handle vast amounts of data every day. From transaction histories to customer profiles, this data feeds into AI models that help businesses make smarter decisions and optimise operations.
When data quality is neglected, the consequences can ripple across the organisation and may contribute to:
Misjudged risk assessments, leading to financial losses or missed opportunities
Flawed market insights, resulting in poor investment decisions
Inaccurate customer recommendations, damaging trust and satisfaction
As AI adoption accelerates, so too does the importance of ensuring data is accurate, complete, and relevant. Details that might have been overlooked in the past—such as timestamps or metadata—now play a critical role in delivering reliable AI outputs.
Steps to Improve Data Quality Investing in data quality is critical for payments businesses aiming to leverage AI effectively. Taking action in these areas can make a significant difference:
1.Data cleaning: Removing or correcting errors ensures accuracy and improves performance. IBM highlights how this step reduces risks and enhances results. 2. Data governance: Establishing clear processes for collecting, storing, and managing data creates consistency and reliability. 3. Regular monitoring: Ongoing audits help identify and fix data quality gaps before they affect AI outputs.
By addressing these challenges, organisations can unlock smarter decision-making, better customer outcomes, and a competitive edge. Because high-quality data isn’t just a technical asset—it’s a strategic one.
The Future of AI in Payments The payments industry is evolving rapidly, with AI playing an increasingly important role in shaping it’s future. Organisations ready to invest in data quality will be the ones leading the way.
References Australian Securities & Investments Commission, ‘Beware the gap: Governance arrangements in the face of AI innovation, Report 798’, Australian Securities & Investments Commission website, report, October 2024, accessed 10 January 2025,<https://download.asic.gov.au/media/mtllqjo0/rep-798-published-29-october-2024.pdf>
Belle, L 2024, ‘These New AI Bots Will Do Just About Anything for You’, Wall Street Journal, article, 24 August 2024, accessed 10 January 2025,<https://download.asic.gov.au/media/mtllqjo0/rep-798-published-29-october-2024.pdf>
Bousquette, I 2024, ‘Visa Has Deployed Hundreds of AI Use Cases. It’s Not Stopping’, Wall Street Journal, article, 1 November 2024, accessed 10 January 2025, <https://www.wsj.com/articles/visa-has-deployed-hundreds-of-ai-use-cases-its-not-stopping-4febe1b4>
J.P. Morgan, ‘Is generative AI a game changer?’, J.P. Morganwebsite, global research, 14 February 2024, accessed 10 January 2025,<https://www.jpmorgan.com/insights/global-research/artificial-intelligence/generative-ai>
|Microsoft, ‘New research identifies Australia’s most promising opportunities in the new global AI economy’, Microsoft website, features, 7 November 2024, accessed 10 January 2025, <https://news.microsoft.com/en-au/features/new-research-identifies-australias-most-promising-opportunities-in-the-new-global-ai-economy/>
Rogers, J 2024, ‘What Is Data Cleaning?’, IBM website, article, 29 November 2024, accessed 10 January 2025,<https://www.ibm.com/think/topics/data-cleaning>
Important Information: Information in this article is current as at 19 February 2025 and is subject to change. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business Cuscal Limited ABN 95 087 822 455.
CEOs are crucial to maximising the benefits of AI The rise of AI opens up exciting opportunities for payments businesses to grow quickly, but it also brings its share of challenges. CEOs are uniquely positioned to guide their organisations in using AI effectively and across the board.
The challenges of using AI to scale One key learning from Cuscal’s Curious Thinkers 2024 event – scale is invaluable to businesses. Particularly when it comes to keeping their valued customers happy and creating the payment solutions of the future.
We are living in exciting times. New technology—especially AI—has kicked open the door of opportunity for businesses, offering new pathways to expand and grow.
According to Accenture’s report on the state of AI Maturity, scaling with AI comes down to mastering a set of key capabilities in the right combinations—not only in data and AI, but also in organisational strategy, talent and culture. To maximise its potential, it must be applied effectively across the business as a whole, ensuring:
the use of AI supports the overall business objectives,
innovation and creativity are encouraged, and
everyone is on board with the approach, from leaders to teams.
If you are currently using AI for small projects, the thought of transitioning to widespread use might be overwhelming – it can be a formidable task.
Many businesses operate in silos, which can lead to mixed efforts, poor communication, and inefficiencies. AI initiatives often highlight these problems even more.
There can also be fear around AI—it can feel complex and risky. To succeed, it’s crucial to get everyone in the organisation to understand and support its value.
CEOs must lead the way Scaling doesn’t happen without teamwork, but the CEO plays a critical role in its success.
As the person with the big-picture view, the CEO has the influence needed to break down the barriers between teams and keep everyone focused on their shared goals.
In fact, a study from Accenture found that when CEOs lead AI efforts, companies tend to see better results because they are uniquely positioned to:
Set a clear vision for what AI can achieve,
Build trust and confidence in the technology, and
Ensure AI projects are part of the larger business strategy.
The same study also reported that when leaders believe in AI early on, not only is adoption accelerated, it also drives positive changes across the business. This highlights the CEO’s crucial role as both a guide and a champion for AI.
Turning opportunity into action Recent articles in IT Wire and IT News highlight an exciting turning point for Australian businesses. With groundbreaking technological shifts, the opportunities to unlock new growth are immense—and bold CEO’s are leading the charge.
Telstra’s CEO, Vicki Brady, has implemented AI tools including AskTelstra and One Sentence Summary to enhance customer service. Similarly, Wesfarmers’ CEO, Rob Scott, introduced AI-enabled technology in Bunnings delivering real-time product information, improving both customer experience and operational efficiency. These stories underscore how decisive leadership is driving innovation and shaping the future of business.
Important Information: Information in this article is current as at 13 February 2024 and is subject to change. While such material is published with the necessary permission, Cuscal does not accept any responsibility for the accuracy or completeness of any such material. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business Cuscal Limited ABN 95 087 822 455.
