By Mark Waller, Managing Director of One Click Life 

Technology is changing how Australians manage their money. AI, open banking, and mobile-first financial tools are making financial admin faster, simpler, and more accessible.

For too long, managing tax, loans, super, and banking meant dealing with different providers, juggling paperwork, and hoping you weren’t overpaying. But that’s shifting. Here are three changes making financial services work better for people.

AI is Making Finance Smarter and Safer

Artificial intelligence is cutting through financial admin in ways we couldn’t have imagined a decade ago. It’s answering questions instantly, tailoring financial recommendations, and making fraud detection sharper than ever.

Instant customer support means you no longer need to wait days for an answer to a question about your tax return or loan application. AI-driven chat and virtual assistants are handling questions in real time, getting people the help they need without the frustration of long waits or generic responses.

AI is also personalising financial management. It can analyse spending, tax deductions, and home loan repayments to flag ways to save money or optimise financial decisions. Not long ago, this kind of tailored advice was only available to people who could afford a financial adviser. Now, it’s becoming part of everyday banking and money management apps.

And then there’s fraud detection. AI-powered regtech (regulatory technology) is catching fraudulent transactions faster and with more accuracy, helping keep Australians’ money safe from scams.

Everything’s Becoming More Connected

Financial services used to operate in silos. Your tax return was separate from your super, which had nothing to do with your mortgage, which wasn’t linked to your everyday banking. That’s changing, thanks to open banking and better integration tools.

Now, financial products can work together. Data can flow securely between tax, lending, super, and banking, making financial admin smoother. Instead of manually entering the same details across multiple platforms, people can sync their accounts and track everything in one place.

Open banking is giving Australians more control over their money. It allows people to share financial data between banks and fintech apps, making it easier to compare deals and switch to better products. Having all your financial information in one place also helps with budgeting, tax planning, and making informed decisions about loans or investments.

Beyond convenience, this shift cuts down on errors and wasted time. Pre-filled tax returns, automated loan repayment tracking, and integrated banking tools mean less admin and fewer missed opportunities to save money.

Finance is More Accessible Than Ever

The days of needing to book an appointment, visit a branch, or navigate piles of paperwork are disappearing. Mobile-first financial services mean Australians can manage their money whenever and wherever suits them.

These apps are designed to be easy to use, which is especially important for people who aren’t financially savvy. They guide users through tax returns, mortgage applications, and insurance decisions in a way that’s simple to follow. This has reduced the need for expensive advisers and made financial services available to more people.

Social media is also changing how people learn about money. Instead of relying on financial advisers, many Australians are turning to online communities, podcasts, and social platforms to educate themselves on personal finance. This kind of access to information is helping people make smarter financial choices, whether it’s understanding tax deductions, finding better home loan rates, or learning how to invest.

All of these changes are lowering costs. Digital tools reduce the need for manual processing, cut down on mistakes, and automate tedious tasks, which means financial products and services are getting cheaper.

The Future of Financial Services

AI, better integration, and mobile-first services are giving Australians more control over their finances. What used to be a frustrating, time-consuming process is now becoming seamless, with tools that save time and money.

At One Click Life, we’re using these innovations to simplify financial admin, so Australians can manage tax, mortgages, insurance, and super in one place. As technology keeps improving, we’ll see even smarter automation and greater efficiencies, helping people take control of their financial futures with less hassle and cost.

Financial services should work for people, not the other way around. The shift is already happening, and it’s only going to get better.