How the World Does Digital: Two-Thirds of Aussie Consumers Use Mobile Phones to Bank

There’s no shortage of images that come to mind when the subject is Australia. Most of them are outdoors, like the vast outback and iconic Table Mountain, any number of unique forms of wildlife and the world’s largest marine ecosystem in the Great Barrier Reef.

But one of its most impactful pursuits happens mostly indoors. Australia is actively pursuing digital transformation on a federal and consumer level, as shown in PYMNTS Intelligence’s “How The World Does Digital Report.”   

High internet and smartphone usage suggest a solid base for digital activities. The national digital transformation strategy and initiatives like myGovID underscore a government committed to increasing digital access for citizens. Collaboration on AI assurance frameworks further demonstrates a focus on digital adoption in the public sector.

As a result of its digital performance in the “How the World Does Digital” report, Australia ranks eighth of 11 surveyed countries, including Brazil, Singapore, the United States, Spain and Italy. The report examines the digital habits of more than 817 million consumers in 11 countries and explores areas like banking, shopping, communication and entertainment.

With a population of 26 million, Australia boasts nearly universal access to high-speed internet and smartphones. Nearly 96% of adults had debit cards in 2021.

The most popular digital activity among Australians is video streaming, with more than 67% of the population engaging in it at least weekly. Other popular activities include mobile banking (64.7%), passive social media (60.8%), music streaming (54.9%), online banking (53.0%), watching livestreams (51.1%), and messaging (50.4%).

As for monthly engagement data, video streaming (16.9 days per month) leads the way for the highest average number of activity days per month. Passive social media (15.2 days), mobile banking (14.2 days), music streaming (14.0), and watching a livestream (12.9 days) are the top five monthly activities.

Rounding out the top 10 monthly events are mobile gaming (12.8 days), messaging (12.4 days), online banking (11.5 days), checking on work remotely after hours (9.2 days), and active social media (8.6 days).

Gen Z heads the list with highest digital engagement (393 activity days) among generations, followed by millennials (355 days), Gen X (244 days), and baby boomers (138 days). High-income earners are the most digitally active (311 days) compared to middle-income (298 days) and low-income earners (232 days).

Australia is unique in that it has a dedicated Digital Transformation Agency and a Data and Digital Government Strategy. Its mission: “The Australian Government will deliver simple, secure and connected public services, for all people and business, through world class data and digital capabilities.” Key components of its “2030 Vision.” When founded in 2022, it found a lot of work to be done to achieve the mission.

As a recent report said, “current digital transformation methods and investment models do not reflect contemporary procurement practices. This reduces the Government’s ability to respond and innovate. New and updated frameworks like the Digital and ICT Investment Oversight Framework (IOF) supports the Government to manage its digital and ICT investments and manage delivery risks by providing governance, contestability, delivery and assurance activities across the entire project lifecycle.”

Concerned about responsible artificial intelligence (AI) use in government, Australian federal, state and territory governments collaborated on a national framework. This framework establishes best practices for data management, anti-discrimination and transparency in using AI. It also allows customization for individual government needs while ensuring consistency across the country. This initiative positions Australia as a leader in safe and ethical AI use in the public sector.

By 2025, Australia aims to provide full digital access to government services. A key component is a national digital identity system (myGovID) that eliminates the need for multiple logins. Platforms for better communication between citizens and the government, along with improved data sharing between departments, are also being developed. The strategy prioritizes data security and transparency to address citizen concerns.