At One Click Life, we’re focused on keeping financial admin simple and accessible, because when money feels manageable, people feel more in control.
Our CEO, Mark Waller, recently joined Ticker News to talk about what’s changing in personal finance across Australia, and how technology is helping everyday Aussies make better financial decisions.
According to Mark, there are three big forces driving that shift: accessibility, artificial intelligence, and financial connectivity. But to understand why those things matter, you first have to look at the broader problem: financial literacy.
We’re not setting people up to succeed
Right now, financial literacy in Australia is low. School curriculums don’t prioritise it, and participation in economics has dropped sharply since the 1990s. A recent study from the University of New South Wales found 45% of Australians are financially illiterate, with the numbers even higher among younger people.
That has a knock-on effect. When people don’t understand how tax, super, loans or insurance work, they’re less likely to take action, and more likely to lose money or miss opportunities. At the same time, the cost of living has gone up and wages haven’t kept pace. For many people, financial confidence is out of reach, not because they’re not capable, but because they haven’t been given the right tools or support.
“We need to simplify financial tools so people feel comfortable using them,” Mark said during the interview. “And make them accessible where people are, which is on their phones.”
Tech is making financial tools more user-friendly
A big part of improving accessibility is mobile-first design. Most Australians are managing their money on their phones, so the tools need to match. That means removing the jargon, simplifying steps, and making sure people can complete tasks quickly and confidently.
A big part of improving accessibility is mobile-first design. Most Australians are managing their money – banking and paying bills – on their phones, so the tools need to match. That means removing the jargon, simplifying steps, and making sure people can complete tasks quickly and confidently.
Artificial intelligence is helping too. At One Click Life, we’ve invested in AI through our Simple Account Manager (SAM), a tool that provides 24/7 support for basic tax-related questions. It gives users answers when they need them, without waiting on a call or booking an appointment.
“Most of the cost of financial advice is time,” Mark explained. “If we can remove the time and reduce the need for one-on-one service, we can lower the cost for users.”
It’s not just about saving money on a tax return, either. With AI and automation, people can get bite-sized help along the way, not just once a year at tax time. This ongoing support means better habits and fewer surprises.
Bringing all your finances into one place
Another key shift is financial connectivity. With the right tech, different parts of your financial life (tax, super, mortgages, insurance) can now work together instead of operating in silos.
This isn’t just about convenience. It’s about making better decisions.
For example, figuring out whether to pay extra on your home loan or boost your super used to require an accountant or financial planner. Now, connected tools and smart modelling can help people weigh up those options themselves.
And when all your information is in one place, you’re less likely to miss deadlines, forget deductions or let savings opportunities slip by.
Making advice more affordable and available
Tech is also driving down costs. Mark pointed to a stat from FinTech Australia showing the local industry has grown from $250 million to over $45 billion in just under ten years.
That growth is driven by factors like increased digital adoption, greater use of money transfer and payments, and the rise of fintech companies offering innovative solutions, reflecting a strong appetite for smart, digital financial services.
But it also shows the opportunity. Traditional financial planning can cost between $6,000 and $8,000 – putting it out of reach for most people. Using AI and automation to guide people through their financial decisions brings those services to a wider audience.
“That’s going to be a massive benefit to a lot of Australians,” Mark said.
Want to see what’s possible with simpler tools and smarter tech? Explore our services at One Click Life and take control of your financial future today.