National Australia Bank will offer customers free computerised general advice... CUA looks to P2P lenders to boost personal loans...
NAB's computerised financial advice a first for majors
National Australia Bank will offer customers free computerised general advice on retirement savings and insurance, launching this month via its online banking platform, the Sydney Morning Herald reports.
The move plays on the logic that customers armed with more information will boost their interest in the bank's advisor network, with plans to initially roll-out to 40,000 customers and reach 400,000 in 12 months.
"With only a minority of Australians actively seeking financial advice, this helps us open up the market to the majority and still, where needed, refer customers on to face-to-face conversations," NAB general manager of digital and direct services Anne Bennett said.
CUA looks to P2P lenders to boost personal loans
A deal may be likely between Australia's largest credit union and peer-to-peer lenders to bolster its unsecured lending and increase profits, according to an article in the Australian Financial Review.
Although profits from CUA's banking business was up 10.7 per cent to $48.79 million, with new loans growing almost 55 per cent, CUA chief executive Rob Goudswaard said new loan growth will not be as strong in 2016.
"We see P2P as being a possible partner for us," said Goudswaard, adding a deal may be likely in about 12 months. "Some P2P lenders offer a very strong digital interface so you can get a personal loan in six key strokes. Rather than invent that yourself, there's a solution there for you. Second, some have a very strong understanding of the risk of that personal loan book and you could work with them to construct that risk profile to help your own book.
National Australia Bank will offer customers free computerised general advice on retirement savings and insurance, launching this month via its online banking platform, the Sydney Morning Herald reports.
The move plays on the logic that customers armed with more information will boost their interest in the bank's advisor network, with plans to initially roll-out to 40,000 customers and reach 400,000 in 12 months.
"With only a minority of Australians actively seeking financial advice, this helps us open up the market to the majority and still, where needed, refer customers on to face-to-face conversations," NAB general manager of digital and direct services Anne Bennett said.
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CUA looks to P2P lenders to boost personal loans
A deal may be likely between Australia's largest credit union and peer-to-peer lenders to bolster its unsecured lending and increase profits, according to an article in the Australian Financial Review.
Although profits from CUA's banking business was up 10.7 per cent to $48.79 million, with new loans growing almost 55 per cent, CUA chief executive Rob Goudswaard said new loan growth will not be as strong in 2016.
"We see P2P as being a possible partner for us," said Goudswaard, adding a deal may be likely in about 12 months. "Some P2P lenders offer a very strong digital interface so you can get a personal loan in six key strokes. Rather than invent that yourself, there's a solution there for you. Second, some have a very strong understanding of the risk of that personal loan book and you could work with them to construct that risk profile to help your own book.
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This RESIMAC BDM from Sydney crossed over from the insurance industry 11 years ago.
This RESIMAC BDM from Sydney crossed over from the insurance industry 11 years ago.
