Our Senior Vice President for Asia Pacific, Lewis Ide, attended COBA25 in Brisbane this August, where leaders from the customer-owned banking sector gathered under the theme “Unite for Impact.” In this piece, Lewis shares his reflections on the key trends shaping the industry.
After relocating to Sydney just 2 months ago to lead 10x’s APAC business, I’ve had a whirlwind few weeks of new connections, inspiring conversations and, I have to admit, much better coffee than back in the UK!
Along with great caffeine, there’s a tangible sense of energy in this region within customer-owned banks, as they look to radically transform their infrastructures for the digital age.
One of my top reflections since arriving is how ready the sector is to take a major leap forward. From our ground-breaking work with Westpac – where we've pioneered a fourth-generation real-time core for institutional banking – to our newly announced partnerships with Constantinople and The Co-operative Bank of New Zealand, there’s no shortage of evidence that the ANZ (Australia and New Zealand) region is on the cusp of a major technology shift.
Image: COBA25
Customer-owned banks in particular are poised to take advantage, mirroring changes in the UK. As my colleague Nikhil Sengupta recently wrote, customer-owned banks have an advantage over other banks in that their customer-focused business models mean they can look beyond short-term returns. They can re-invest profits for long-term member value, allowing them to modernize without compromise.
With this opportunity in mind, the build-up to this year’s Customer Owned Banking Association conference (COBA25) in Brisbane was one of real anticipation. The event itself did not disappoint, with this year’s theme of ‘Unite for Impact’ guiding proceedings.
Here’s my wrap-up from COBA25, and what lies ahead for the customer-owned banking sector in ANZ.
COBA’s second day delivered the standout session for me. Led by Stevie-Ann Dovico, the discussion centred on a simple but powerful idea: modernization in our sector must be anchored in genuine value for members.
Image: Lewis Ide
Members aren’t just the customers banks serve; employees are part of the community too. The passion for serving not just their communities but their internal teams too has really shone through since my relocation, with customer-owned banks looking to support teams with access to real-time data and insights – both in-branch and remotely – that enable them to deliver on customer expectations. This philosophy will be critical as technology adoption accelerates, ensuring that any investments are guided by the member-focused North Star.
COBA was also a reminder that collaboration is the lifeblood of the sector. We had the chance to hear from leaders across the UK, USA, Canada, and Asia. The experiences may differ, but the mission remains the same: to deliver customer-centric innovation through partnership and shared learning. It was refreshing to see how openly ideas and challenges were exchanged – proof that progress is faster when we move together, not alone.
One theme that resonated throughout the sessions was the need for strong information architecture (IA) as the foundation for successful AI adoption. There is excitement about AI everywhere, but responsible experimentation demands strong data governance and security guardrails, as well as powerful cloud-native platforms capable of delivering accurate, real-time data. My advice to anyone eyeing next-gen capabilities: get IA right before you dive into AI.
I’m proud that 10x was able to share important milestones at COBA, including our selection by The Co-operative Bank in New Zealand to drive its core transformation. This marks another step in our mission to support the region’s customer-owned banks with our cloud-native core banking platform, helping mutuals deliver the next century of better banking.
The single biggest takeaway from COBA25 is this: customer-owned banks in APAC are ready for their next chapter. The groundwork is laid, the will to collaborate is strong, and customer value remains the sector’s guiding star. It’s an exciting time to be part of this journey, 10x is just getting started, and I can’t wait to see what more we’ll achieve together by the next COBA.
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Our report Transform to Thrive dives into the future of customer-owned banking in Australia, where digital-first experiences, resilience, and purpose must coexist in a rapidly evolving tech landscape. Based on interviews with senior sector leaders, the report offers clear, strategic steps to help mutuals modernize and grow – without losing sight of the values that define them.
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