Borrow
Indecisive Aussies to be targeted by alternative lenders
Smaller and alternative lenders are looking to capitalise on the royal commission’s unsettling findings by targeting swinging savers.
Indecisive Aussies to be targeted by alternative lenders
Smaller and alternative lenders are looking to capitalise on the royal commission’s unsettling findings by targeting swinging savers.

According to Essential Media polling, 8 per cent of Australians have already switched banks in light of the royal commission and a further 17 per cent will consider switching.
While the findings were based on polling performed by Essential Media, the study was commissioned by the Customer Owned Banking Association (COBA).
It also found that 58 per cent of Australians haven’t been swayed by the royal commission into considering a switch.
An additional 18 per cent of Australians aren’t sure whether the royal commission has caused them to reconsider their institution.

This is the group COBA wants to target with its recently launched ‘Own Your Banking’ customer switching campaign.
“The Own Your Banking campaign we launched this week is a response to encouraging support we have already seen for mutual banks, credit unions and building societies,” said COBA chief executive Michael Lawrence.
“We are particularly keen to target our campaign toward the Australians who are considering changing and those undecided.”
He said the Essential Media results show an increasing number of Australians are seeking the benefits of customer-owned banking, and alternatives that prioritise customer interests over shareholders’.
It found that 32 per cent of Australians were more likely to consider switching banking institutions.
Interestingly, 9 per cent said it had made them less likely to consider changing.
Most (46 per cent) said it had made them neither less nor more likely to consider a shift.
Reflecting on these figures, Greater Bank CEO Scott Morgan said the shift is a testament to customer-owned banking values.
“Customer focus is … an important aspect customers are increasingly looking for,” he said.
“Recently we have enjoyed the benefits of this focus with the bank experiencing some of the highest levels of customer growth we have seen in many years.”

Payday loans
Square shareholders approve Afterpay buyout
Shareholders of the US payments platform founded by Twitter’s Jack Dorsey have approved the issuance of new shares for the purchase of Afterpay for $39 billion. Read more

Payday loans
Alternatives to payday loans
Need money fast? Before you fill up that payday loan application form, it’s best to know what other options are available to you. Read more

Payday loans
Will payday loans affect my credit rating?
Are you planning to apply for a payday loan but worried it might have an impact on your credit rating? Read more

Payday loans
Are payday loans dangerous?
Payday or small amount loans may seem like an easy and convenient solution if you need to quickly pay off your bills or debts. But how much is this “quick-fix” loan really costing you? Read more

Payday loans
What to consider when evaluating a payday loan?
Payday loans are easy-to-access short-term loans that even people with bad credit scores may get approved for – but this convenience comes at a high cost. Read more

Payday loans
What is a payday loan?
You may easily access a payday loan if you’re strapped for cash until your next pay, but don’t apply for one until you understand the product better. Here’s what you need to know about payday loans. Read more

Payday loans
Predatory lending pervasive on social media
Vulnerable Australians who might be looking for a small loan to tide them over until their next pay packet are now being targeted by payday lenders through digital platforms, it’s been revealed. Read more

Payday loans
What lenders will pass on the RBA’s rate cut?
Following the Reserve Bank of Australia’s lowering of the official cash rate to record-low levels, a number of the non-majors have followed the big four in reducing interest rates for borrowers. Read more

Payday loans
Square shareholders approve Afterpay buyout
Shareholders of the US payments platform founded by Twitter’s Jack Dorsey have approved the issuance of new shares for the purchase of Afterpay for $39 billion. Read more

Payday loans
Alternatives to payday loans
Need money fast? Before you fill up that payday loan application form, it’s best to know what other options are available to you. Read more

Payday loans
Will payday loans affect my credit rating?
Are you planning to apply for a payday loan but worried it might have an impact on your credit rating? Read more

Payday loans
Are payday loans dangerous?
Payday or small amount loans may seem like an easy and convenient solution if you need to quickly pay off your bills or debts. But how much is this “quick-fix” loan really costing you? Read more

Payday loans
What to consider when evaluating a payday loan?
Payday loans are easy-to-access short-term loans that even people with bad credit scores may get approved for – but this convenience comes at a high cost. Read more

Payday loans
What is a payday loan?
You may easily access a payday loan if you’re strapped for cash until your next pay, but don’t apply for one until you understand the product better. Here’s what you need to know about payday loans. Read more

Payday loans
Predatory lending pervasive on social media
Vulnerable Australians who might be looking for a small loan to tide them over until their next pay packet are now being targeted by payday lenders through digital platforms, it’s been revealed. Read more

Payday loans
What lenders will pass on the RBA’s rate cut?
Following the Reserve Bank of Australia’s lowering of the official cash rate to record-low levels, a number of the non-majors have followed the big four in reducing interest rates for borrowers. Read more