Finance sector and payment system changes in the Queensland regional economies : an employment impact study, 1985/86 to 1989/90

TL;DRAbstract

In the early 1980s Australia embarked on a process of great change within its finance sector and payment systems. These changes were both domestic and international. The domestic aspect saw the introduction of many new products and services, the introduction of ATM, EFTPOS and other electronic and computer technologies and the issuance of new banking licences. Foreign players entered the domestic market and a series of cost cutting n1ergers and rationalisations commenced. The increased usage of electronic fund transference appeared to be associated with financial intermediary branch closures and the centralisation of processing activities to the more urbanised areas. Employment losses appeared to be associated with these changes.The international aspect saw the floating of the exchange rate and the entry of many new foreign banks into the market. Some of these banks were successful in their takeovers of smaller financial intermediaries, while others could not compete against the larger

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