Teachers Mutual Bank teams up with KPMG Talk to us Phone us Email us Breadcrumbs Teachers Mutual Bank About us Media releases 2016 Teachers Mutual Bank teams up with KPMG 13 July 2016 13 July 2016 Teachers Mutual Bank teams up with KPMG to bring FinTech innovation to Australia’s mutual sector Teachers Mutual Bank will now look to Australian tech-savvy SMEs to come up with solutions to sector-wide issues, and create prototype products and services that will best benefit their members. Earlier this year Roy Morgan research found that smaller banks were currently attracting the largest amounts of customers from the Technology Early Adopter segment – Teachers Mutual Bank was listed as having the highest proportion of these customers (29%). With Teachers Mutual Bank well placed to adapt new technologies and ideas that will best service members, the bank today announced its investment in mLabs, a market-first FinTech accelerator program run by professional services firm KPMG Australia. The new 12-week program will connect Teachers Mutual Bank, along with other mutual banks and credit unions, with 14 start-up companies in an attempt to promote and accelerate innovation in the mutual sector. “As a member-owned bank, Teachers Mutual Bank has always been committed to investing in digital solutions that enhance our member experience and inspire creative ways to design new products. With Australians placing more importance on instant personalised digital interactions with banks over in-branch contact we recognise the need to further develop our technology offering. “We are pleased to be involved in establishing the mLabs Program in collaboration with other mutual banks across Australia. The program aims to support Australian SMEs and the growth of mobile applications industries in the banking sector”, said Brad Hedgman, Deputy CEO at Teachers Mutual Bank. The program will be initially piloted by seven Australian mutual banks and credit unions: Teachers Mutual Bank, Beyond Bank, CUA, Greater Bank, Heritage, IMB Bank and Police Bank. It commences on 12 July 2016 and will conclude with a demo-day later in the year, where the FinTechs will pitch their ideas and progress to investors and finance sector leaders. For media enquiries, please contact Jessica Hodges, PR & Corporate Affairs Specialist, on 02 9735 9425 or 0467 800 414 or firstname.lastname@example.org Back to top.