September 2019

Total Page:16

File Type:pdf, Size:1020Kb

September 2019 September 2019 Case studies, statistics, research and recommendations are provided "ASIS" and intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice. The actual costs, savings and benefits of any recommendations or programs may vary based upon your specific business needs and program requirements. By their nature, recommendations are not guarantees of future performance or results and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Stage3 is not responsible for your use of the information contained herein (including errors, omissions, inaccuracy or non-timeliness of any kind) or any assumptions or conclusions you might draw from its use. Stage3 makes no warranty, express or implied, and explicitly disclaims the warranties of merchantability and fitness for a particular purpose, any warranty of non-infringement of any third party's intellectual property rights. To the extent permitted by applicable law, Stage3 shall not be liable to a client or any third party for any damages under any theory of law, including, without limitation, any special, consequential, incidental or punitive damages, nor any damages for loss of business profits, business interruption, loss of business information, or other monetary loss, even if advised of the possibility of such damages. 30% $970,000 $9 $967,576 $8 $965,000 Millions 25% Millions $7 $960,000 20% $6 $955,000 $5 15% $950,000 Deposits Total $4 10% $3 $945,000 $2 5% $940,000 $1 0% $935,000 $- Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 $30,000 $1,000,000 • Despite the lower interest rates on deposits, the Household Deposit FUM grew by 0.5% $29,000 Millions Millions $950,000 • Despite being a SME focused neo-banks, Judo Bank has had hug growth in $28,000 consumer deposits off the back of their Term Deposits $900,000 $27,000 • No reported volume from either Volt or Xinja, with them obtaining their Total Deposits Total $26,000 licences in January and September respectively $850,000 Bendigo Deposits Bendigo Deposits Market $25,000 • Assumption that Up’s balances are sitting in Bendigo’s consumer household $800,000 deposit reporting rather than Commercia FI $24,000 • Bendigo’s deposit growth has outstripped market since the launch of Up, $23,000 $750,000 growing at 8% vs. 5.4% Source: APRA Monthly ADI Statistics 30% $1,730,000 $25 $1,728,202 $1,725,000 Millions 25% Millions $20 $1,720,000 20% $15 $1,715,000 15% $1,710,000 Deposits Total $10 10% $1,705,000 $5 5% $1,700,000 0% $1,695,000 $- Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Jul-20 • Consumer Home lending (investment & occupier) Market grew 0.23% 30.00% $40,500 MOM $40,000 25.00% Millions • Judo Bank the only neo-bank with reported lending, despite them being $39,500 an SME focused brand 20.00% • $39,000 Credit Card Market has declined due to lack of innovation in the sector 15.00% o Low Rate $38,500 o Low Fee 10.00% $38,000 o Rewards $38,031 o Yawn 5.00% $37,500 0.00% $37,000 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Source: APRA Monthly ADI Statistics 25% $580,000 25.00% $770,000 $577,753 $578,000 $768,000 Millions $576,000 Millions 20% 20.00% $767,530 $574,000 $766,000 $572,000 $764,000 15% 15.00% $570,000 $762,000 $568,000 10% 10.00% $566,000 $760,000 $564,000 $758,000 5% $562,000 5.00% $756,000 $560,000 0% $558,000 0.00% $754,000 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 • More jostling for position in Commercial Deposits across the Big 4, with the $35 $400 market growing at 0.45% MOM $30 $350 Millions Millions • Commercial Lending is where we are seeing the most disruption against the $300 $25 Big 4, with Rest of Market (i.e. everyone other than the top 7) accounting $250 $20 for 23% of the market $200 $15 $150 • Unsurprisingly, Judo Bank are growing their lending book at an incredible $10 $100 rate, although slower in their deposit book $5 $50 $0 $- Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Tyro Payments Limited Judo Bank Pty Ltd Tyro Payments Limited (lending) Judo Bank Pty Ltd (lending) Source: APRA Monthly ADI Statistics ✓ ✓ ✓ ✓ ✓ • NPP ✓ ✓ • Open Banking ✓ ✓ ✓ ✓ ✓ • NPP • Proposition based on website ✓ ✓ • Likely to have P2P launch ✓ ✓ • Savings through Term Deposit • Proposition based on website ✓ ✓ ✓ • Likely to have P2P at launch • Proposition based on website ✓ ✓ ✓ ✓ • Closed loop P2P ✓ ✓ ✓ ✓ • Batched BSB/Acc payments 50 45 Up 40 Thousands 35 86400 30 25 Volt 20 15 Xinja 10 5 0 10000 20000 30000 40000 50000 60000 70000 0 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Direct Referral Search Social Paid 88% 84% 87% 76% 76% 83% 84% 77% 1 Not enough data for Archa, Judo, Douugh and Wildcard Source: Google; SEMRush Wildcard Wildcard Douugh Douugh Xinja Xinja Archa Archa 86400 86400 Judo Judo Volt Volt Up Up 0 2,000 4,000 6,000 8,000 10,000 12,000 0 10 20 30 40 50 Facebook Twitter Instagram Facebook Twitter Instagram • Up have been doing a great job in getting their brand outside of the Wildcard FinTech bubble, resulting in the largest Audience Douugh Xinja • Up’s audience is also quite diverse without being overly weighted to one Archa platform 86400 • Some brands are just not working hard enough in social, which could be Judo costly, particularly if they are intending on capturing a younger audience Volt Up 0 500 1000 1500 2000 2500 Facebook Twitter Instagram Source: Facebook, Twitter, Instagram, SEMRush Monzo Monzo Revolut Revolut Up Xinja 0 50 100 150 200 250 300 350 400 450 Thousands 0 20 40 60 80 100 120 140 160 Facebook Twitter Instagram Facebook Twitter Instagram • The highest performing Australian neo-bank in each metric against Monzo Revolut and Monzo to give some perspective • All under-weight in Instagram activity, with Monzo getting great engagement from their activity Revolut • Activity = Engagement • Despite Monzo having a smaller Audience, through being present more Xinja often their customers and potential customers engaged with them more 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 Facebook Twitter Instagram Source: Facebook, Twitter, Instagram, SEMRush Influencers Influencers Influencers Influencers Authentic Authentic Authentic Authentic Mass Followers Mass Followers Mass Followers Mass Followers N= 1556 Suspicious N= 1307 Suspicious N= 312 Suspicious N= 3682 Suspicious Influencers Influencers Influencers Influencers Authentic Authentic Authentic Authentic Mass Followers Mass Followers Mass Followers Mass Followers N= 140 Suspicious N= 755 Suspicious N= 93 Suspicious N= 271 Suspicious Source: Slix Social • • • • • • • • Source: Facebook • • • • • • Source: Facebook x5 x6 x6 x6 x6 x6 x6 x6 Source: Facebook x6 x6 • • • • x6 • Source: Facebook One Ad live in the US 1) Bring up the ‘All Tools’ menu by hitting the burger menu 2) Select Page Posts 3) Select Ad Posts 4) Copy the Post ID 1 2 3 4 1) Use ‘Use Existing Post’ 2) Hit the ‘Enter Post ID’ link (the ‘Select Post’ option can be hit and miss) 3) Paste the Post ID in 4) Publish! • Xinja • Volt Bank • 86400 • ANZ bank login • Up • n/a • Volt Bank • Volt Bank • Xinja bank • Up Bank • 86 400 • Online banking • Up Bank • Volt • Fintech Australia • Xinja share price • Xinja • 86 • Banks • Up Money • Volt Bank Australia • Brighte • Xinja money • Volt • 86400 bank • Banking royal • Up App • Volt Bank ASX • 86400 • Rules • Open Bank • 86 400 bank commission • Up Card • The Volt • Raiz Investment • Xinja apple pay • 86400 • 86400 pty ltd • ANZ bank open hour • Up Bank Australia • What is Volt Bank • Xinja • Xinja app • Open Banking Australia • 86400 logo • AMP royal commission • Up Debit Card • New Bank • Revolut Australia • Neobank • Money Savings App • 86400 seconds • BOQ mobile banking • Up Bank Review • New Banks in Australia • Raiz Fees • Monzo bank Australia • Revolut Australia • Christina Seppelt • Banking royal • Bendigo Bank Login • New Bank Australia • DiviPay • Neo Bank • Smartbank online commission website • Up Digital • Digital Bank Australia • Airwallex • NAB savings interest rates • Westpac personal banking June-18 • Cryptocurrency • Litecoin • Bitcoin Australia • Crypto news • Bitcoin ATM • Bitcoin news • Earn Bitcoin • Bitcoin stock • Xinja Bank • Opening a bank account in Australia 100 points 1The estimated monthly cost to rank for the keywords in Google Ads. Not an indication of ad spend. 2 Not enough data for Archa, Judo, Douugh and Wildcard Source: Google, SEMRush By purchasing competitor keywords, you are likely taking a customer from Bottom of Funnel and hoping to intercept them and take them through the funnel…. Again. “What Banks are in Australia” “Best bank account in Australia” “How to open a bank account in Australia” “Open Up Bank account” Branded search terms are the Holy Grail of Search marketing and demonstrates high-purchase intent But don’t forget to put a lot of time and efforts into negative keywords. These help sculpt what ads are presented to the user. New Bank Competitors Brand 70% Ad Budget 25% Ad Budget 5% Ad Budget SKAG – Open New Bank Account SKAG – Best Bank Account Competitors Brand Search • +Open +New +Bank +Account • +Best +Bank +Account • “Competitor” • +Brand • “Open New Bank Account” • “Best Bank Account” • [Competitor] • “Brand” • [Open New Bank Account] • [Best Bank Account] • -brand • [Brand] • -Competitors • -Competitors • -Brand • -Brand • • -Best Bank Account Ad Sculpting -Open New Bank Account .
Recommended publications
  • Bank Default Notice Australia
    Bank Default Notice Australia Sharp-eyed and degradable Husein proves: which Rolph is rangy enough? Clarence cribbles his encouraging.agglutinants mercerizes Dispositional nowise Ken canonisedor backward infinitively. after Tammy regorged and partake snap, Waltonian and The Australian Government Department of Communication have made helpful. A debt collector must save you appropriate notice outlining how much overtime you. Lenders must make sure all defaults in writing. WBC4040010472 Exhibit AW3-53 Default notice and. It really doesn't take head to lobby the tide from a financial setback sometimes. Late payments remain into the credit report altogether seven years The seven-year million is based on society the delinquency occurred Whether the entire account it be deleted is determined however whether they brought the account closure after the missed payment. If as receive notice that manual are time taken by court began as a summons or. Where appropriate for your credit code is there is. When you can be tough times of libor business of research reports, if you do their personal account? Deloitte US Audit Consulting Advisory and Tax Services. You instruct us securities laws? Default notices and the purchasing of residential property. Western Australia If either tenant falls more equity one day behind my rent you new issue a missing notice. If you don't pay your credit card then expect to consider late fees receive increased interest rates and incur damages to your credit score If you continue to miss payments your combat can be frozen your discount could be sold to a collection agency and the collector of a debt than sue you dream have your wages garnished.
    [Show full text]
  • Financial Stability Review April 2021
    Financial Stability Review APRIL 2021 Financial Stability Review APRIL 2021 Contents Overview 1 1. The Global Financial Environment 5 Box A: The Transition Away from LIBOR 16 2. Household and Business Finances in Australia 23 Box B: Risks in Retail Commercial Property 32 3. The Australian Financial System 37 Box C: What Did 2020 Reveal About Liquidity Challenges Facing Superannuation Funds? 48 4. Domestic Regulatory Developments 53 5. Copyright and Disclaimer Notices 59 The material in this Financial Stability Review was finalised on 8 April 2021 and uses data through to 8 April 2021. The Review is published semiannually and is available on the Reserve Bank's website (www.rba.gov.au). The next Review is due for release on 8 October 2021. For copyright and disclaimer notices relating to data in the Review, see the Bank's website. The graphs in this publication were generated using Mathematica. Financial Stability Review enquiries: Secretary's Department Tel: +61 2 9551 8111 Email: [email protected] ISSN 1449–3896 (Print) ISSN 1449–5260 (Online) © Reserve Bank of Australia 2021 Apart from any use as permitted under the Copyright Act 1968, and the permissions explicitly granted below, all other rights are reserved in all materials contained in this publication. All materials contained in this publication, with the exception of any Excluded Material as defined on the RBA website, are provided under a Creative Commons Attribution 4.0 International License. The materials covered by this licence may be used, reproduced, published, communicated to the public and adapted provided that the RBA is properly attributed in the following manner: Source: Reserve Bank of Australia 2021 OR Source: RBA 2021 For the full copyright and disclaimer provisions which apply to this publication, including those provisions which relate to Excluded Material, see the RBA website.
    [Show full text]
  • 2020 Annual Report
    Investors Group Annual Report For the year ended 30 June 2020 200 Adelaide St, Brisbane, QLD 3 Contents Meeting of Securityholders 04 — Highlights 21 October 2020 06 — Message from the Chairman 10:30am (Sydney time) 08 — CEO’s Message Computershare Level 3, 60 Carrington Street, 11 — Financial Report Sydney NSW 2000 12 — Directors’ Report 43 — Auditor’s Independence Declaration 44 — Financial Statements 51 — Notes to the Financial Statements 129 — Directors’ Declaration 130 — Independent Auditor’s Report 136 — Corporate Governance 137 — Securityholder Analysis 139 — Corporate Directory Financial Calendar 21 October 2020 OCT Meeting of Securityholders December 20203 DEC Estimated interim distribution announcement and securities trade ex-distribution February 2021 FEB Interim results announcement March 2021 MAR Interim distribution payment June 2021 JUN Estimated final distribution announcement and securities trade ex-distribution August 2021 AUG Full-year results announcement September 2021 SEP Final distribution payment September 2021 SEP Annual tax statements Responsible Entity Elanor Funds Management Limited (ABN 39 125 903 031). AFSL 398196. Elanor Investors Group comprises Elanor Investors Limited (ABN 33 169 308 187) and Elanor Investment Fund (ARSN 169 450 926). 4 Highlights The Group’s assets are located in metropolitan and prime regional locations across Australia and New Zealand Darwin NT QLD WA Brisbane SA Perth NSW Auckland Sydney Adelaide Canberra Wellington VIC Melbourne Assets: Hotels, Tourism & Leisure TAS Commercial Hobart
    [Show full text]
  • The Rise of the Neo-Bank
    The rise of the neo-bank yieldreport.com.au/insights/the-rise-of-the-neo-bank/ 13 January 2020 By guest contributor Jake Jodlowski, Principal, Atchison Consultants Given the continued reputational damage suffered by the big four Australian banks throughout and post the Banking Royal Commission hearings, bank customers and investors may be looking for alternatives. Whilst still in its infancy, Australia’s banking and credit start-up sector has grown leaps and bounds in recent years, with Afterpay Touch Group (ASX: APT) and Zip Co Limited (ASX: ZIP) being high-profile examples. Although the “buy-now, pay-later” (BNPL) sector has received most of the media coverage, the development of so-called “neo-banks” has also started to gain momentum. Neo-banks are best described as traditional banks without a bricks and mortar presence, with their entire offering supplied through digital means, usually through an app and on-line platform. They are fully functioning deposit-taking institutions and therefore fall under the supervision of the Australian Prudential Regulation Authority (APRA). APRA must provide a license before an institution may accept customer deposits. An unrestricted banking license permits a corporation to operate as a “banking business” and therefore an authorized deposit-taking institution (ADI) without restrictions under the Banking Act 1959. Part 5 of the Banking Act defines “banking business” as consisting of both taking deposits (other than as part-payment for identified goods and services) and making advances of money, as well as other financial activities prescribed by regulations made under the Banking Act. The arrival of neo-banking in Australia follows the emergence of start-up banks like Monzo and Starling in the UK.
    [Show full text]
  • Market Insight – October 2020
    SYDNEY MELBOURNE Level 15 Level 9 60 Castlereagh Street 41 Exhibition Street SYDNEY NSW 2000 MELBOURNE VIC 3000 Tel 61 2 9235 9400 Tel 61 3 9653 8600 Market Insight – October 2020 The Road Out Returning to Normal There is movement at the station for the word had passed around… that the market is open and the city of Sydney is keenly welcoming back its workforce. Ok, so not back to full capacity just yet, but we have seen a number of funds, banks & professional services firms return in some form to the office – week on/week off, book your desk with capacity % limits, split teams & floors, the list goes on. As a result, the corresponding increase in face to face meetings in offices, coffee shops or even over lunch - dare we say it is feeling almost a little more “normal“ around town. We at JMES have a sense that many are yearning to be back in the office in some form. The camaraderie created by spending time with colleagues side by side in the trenches surely trumps the back to back monotony of non-stop Zoom calls tied to a laptop at home. So, what next for 2021? We have all seen the high-profile new entrants in Barrenjoey & Jarden providing some market disruption. But there have also been other good examples of clients (funds, banks, corporates and government agencies) committed to completing hiring processes in Q3 and into Q4 – so whilst certainly not back to 2019 volumes, there is positive hiring momentum. A number of our clients have kicked off processes to ensure starters in place for Q1 of 2021, and notably, these are not just replacement hires but newly created roles, surely providing a level of confidence heading into the new year.
    [Show full text]
  • Annual Report and Sustainability Update 2018/2019
    Annual Report and Sustainability Update 2018–2019 “Our dedication to running an ethical and sustainable institution has been recognised with Teachers Mutual Bank Limited being named one of the World’s Most Ethical Companies for the sixth year running.” Contents Annual Report and Sustainability Update Our mission is to deliver quality financial products and services to workers and their families within the education, emergency services, and health communities. We will do this in an ethical, simple and friendly manner. Key financial performance 02 Chairperson and CEO’s report 04 Members 06 Social Responsibility 10 Community 14 Employees 18 Environment 22 Summary of Sustainability KPIs and targets 26 Directors’ report 28 Auditor’s independence declaration 32 Financial statements and notes 33 Statement of comprehensive income 34 Statement of changes in member equity 35 Statement of financial position 36 Statement of cash flows 37 Notes to the financial statements 38 Directors’ declaration 87 Independent auditor’s report 88 TEACHERS MUTUAL BANK LIMITED Telephone: 13 12 21 | Fax: (02) 9704 8205 Email: [email protected] | Address: 28-38 Powell Street Homebush NSW 2140 | PO Box: PO Box 7501 Silverwater NSW 2128 | ABN: 30 087 650 459 | AFSL/Australian Credit Licence: 238981 | Design: www.frescocreative.com.au 1 Key Financial Performance Our focus is to maintain sustainable growth to ensure we provide competitive products and services to enable our members to secure their financial futures. OVERVIEW Capital adequacy ratio Membership Capital adequacy is a ratio which protects depositors and Membership refers to all shareholders that are eligible to investors by indicating the strength of an institution.
    [Show full text]
  • Investor Relations Presentation
    Investor Relations Presentation 1 DISCLAIMER Disclaimer: Commercial in Confidence. Not to be shared or reproduced without the authority of Cashwerkz Limited (ACN: 010 653 862). Cashwerkz Group I Cashwerkz Limited ABN 42 010 653 862 AFSL 260033 | Cashwerkz Technologies Pty Ltd ABN 70 164 806 357 AFSL 459645 | RIM Securities Ltd ABN 86 111 273 048 AFSL 283119 | Trustees Australia Limited ABN 63 010 579 058 AFSL 260038. This Presentation contains general information only and is, or is based upon, information that has been released to ASX. This document is not an invitation, offer or recommendation (expressed or implied) to apply for or purchase or to take any other action in respect of securities and is not a prospectus, product disclosure statement or disclosure document for the purposes of the Corporations Act 2001 (Cth) and has not been lodged with ASIC. Investment Risk An investment in Cashwerkz Limited (‘CWZ’ or ‘Group’), is subject to known and unknown risks both specific to CWZ and of a general nature, some of which are beyond the control of the Group. Such risks either may individually or in combination adversely affect the future operating and financial performance of CWZ, its investment return and value of its securities. There can be no guarantee, and the directors and management give no assurances, (notwithstanding that they will use their conscientious best endeavours), that CWZ will achieve its stated objectives or that any forward-looking statement or forecast will eventuate. Forward-Looking Statements This Presentation contains certain statements that may constitute forward-looking statements or information (“forward-looking statements”), including statements regarding the use of proceeds of any funds available to the Group.
    [Show full text]
  • September 2019
    September 2019 Case studies, statistics, research and recommendations are provided "ASIS" and intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice. The actual costs, savings and benefits of any recommendations or programs may vary based upon your specific business needs and program requirements. By their nature, recommendations are not guarantees of future performance or results and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Stage3 is not responsible for your use of the information contained herein (including errors, omissions, inaccuracy or non-timeliness of any kind) or any assumptions or conclusions you might draw from its use. Stage3 makes no warranty, express or implied, and explicitly disclaims the warranties of merchantability and fitness for a particular purpose, any warranty of non-infringement of any third party's intellectual property rights. To the extent permitted by applicable law, Stage3 shall not be liable to a client or any third party for any damages under any theory of law, including, without limitation, any special, consequential, incidental or punitive damages, nor any damages for loss of business profits, business interruption, loss of business information, or other monetary loss, even if advised of the possibility of such damages. 30% $970,000 $9 $967,576 $8 $965,000 Millions 25% Millions $7 $960,000 20% $6 $955,000 $5 15% $950,000 Deposits Total $4 10% $3 $945,000 $2
    [Show full text]
  • Stepping Forward in Private Credit When Others Step Back Introduction
    Current Key Investment Themes JANUARY 2021 THOUGHT LEADERSHIP: STEPPING FORWARD IN PRIVATE CREDIT WHEN OTHERS STEP BACK INTRODUCTION One of the reasons the COVID-19 pandemic hit In this article we review the potential for Australia’s developed economies so hard was that it struck superannuation funds to provide credit to support the parts of economies that until that point had the nation’s SMEs, mid-market and large remained resilient, notwithstanding the geopolitical corporates, real estate developments and other turmoil of Brexit and the US/China trade tensions borrowers, while earning attractive risk adjusted of 2018. The part we are referring to is of course, returns for their members – many of whom are in the consumer. turn the employees or owners of these borrowers. The consumer accounted for 54% of GDP in Australia’s superannuation system is the fourth Australia in 2019, and 68% in the US1, and can be largest pension asset pool globally, with US$1.9 likened to the heart of many developed trillion (A$2.7 trillion) in assets at the end of 2019, economies. The consumer’s resilience changed representing just shy of 4% of OECD pension dramatically with the outbreak of COVID-19 with assets2 - more than the Netherlands, Japan and the lockdowns and travel restrictions decimating Switzerland. consumers' ability to spend. Spending by Australia’s superannuation funds have a well- consumers is also intertwined with the financial known home bias in equity exposure, with the health of their employers, be they small and largest of Australia’s balanced funds holding medium enterprises (SMEs) or mid and large approximately half of their equity assets in corporates.
    [Show full text]
  • Australia's Best Banking Methodology Report
    Mozo Experts Choice Awards Australia’s Best Banking 2021 This report covers Mozo Experts Choice Australia’s Best Banking Awards for 2021. These awards recognise financial product providers who consistently provide great value across a range of different retail banking products. Throughout the past 12 months, we’ve announced awards for the best value products in home loans, personal loans, bank accounts, savings and term deposit accounts, credit cards, kids’ accounts. In each area we identified the most important features of each product, grouped each product into like-for-like comparisons, and then calculated which are better value than most. The Mozo Experts Choice Australia's Best Banking awards take into account all of the analysis we've done in that period. We look at which banking providers were most successful in taking home Mozo Experts Choice Awards in each of the product areas. But we also assess how well their products ranked against everyone else, even where they didn't necessarily win an award, to ensure that we recognise banking providers who are providing consistent value as well as areas of exceptional value. Product providers don’t pay to be in the running and we don’t play favourites. Our judges base their decision on hard-nosed calculations of value to the consumer, using Mozo’s extensive product database and research capacity. When you see a banking provider proudly displaying a Mozo Experts Choice Awards badge, you know that they are a leader in their field and are worthy of being on your banking shortlist. 1 Mozo Experts Choice Awards Australia’s Best Banking 2021 Australia’s Best Bank Australia’s Best Online Bank Australia's Best Large Mutual Bank Australia's Best Small Mutual Bank Australia’s Best Credit Union Australia’s Best Major Bank 2 About the winners ING has continued to offer Australians a leading range of competitively priced home and personal loans, credit cards and deposits, earning its place as Australia's Best Bank for the third year in a row.
    [Show full text]
  • Methodology Report
    Mozo Experts Choice Awards Deposits 2019 Every day, Mozo keeps track of thousands of products in banking, insurance and energy. Unlike some other awards, providers don’t ‘enter’ the Mozo Experts Choice Awards nor do they pay to be considered. Our in-house team of experts analyse all the product data they’ve been tracking and scour the market to see if there are any other worthy candidates. Then we use our data and our experience to make a hard-nosed assessment of those products, to identify which offer great value or market-leading features. We recognise the leading products with the Mozo Experts Choice Awards. ● For product providers, a Mozo Experts Choice Award is a thoroughly researched third-party endorsement of their product. ● For consumers, the Mozo Experts Choice Awards badge is a sign that a product is among the leaders in the market, and is worthy of consideration. This report lists the winners and explains the judging methodology for our 2019 Deposit awards. 1 ​ Deposits - 2019 Winners Transaction Accounts Everyday Bank of the Year Exceptional Everyday Account Bank of Sydney Everyday Saver Account Bankwest Hero Transaction Account Bankwest Qantas Transaction Account BOQ Specialist Everyday Plus Account Citi Global Currency Account Citi Plus Transaction Account ING Orange Everyday Macquarie Platinum Transaction Account Macquarie Transaction Account UBank USaver Ultra Transaction Account Up Bank Everyday Account Best New Transaction Account Citi Global Currency Account 2 ​ Student Bank Account Community First Credit Union Student
    [Show full text]
  • Australian Major Banks FY2019 Results
    Challenges, choices and complexities Australian major banks F Y2019 results November 2019 “Bankprofitabilityisunderthreat,ROEhashalved overthepast15years.NIMshavehalvedoverthat period.Wearenowmuchclosertoourcostof equity.Theabilitytoholdthemachinetogetheras itis...isunsustainable.Ithinktheideathatthese universal,mass-marketbanksaregoingtocontinue tothrive,Idon’tagreethat’sthecase.Iamnot sayingthere’sgoingtobenone,butIdon’tbelieve thatthisissustainableinthefuture.’’ Shayne Elliott CEO,ANZi Growthwasa challenge Efficiencyiscritical Cashprofitdeclinedby Total income Total expenses declined by 3.7% increased by 0.8% 7.8% Creditriskincreasing Lendinggrowthhasslowed OntracktomeetAPRA’s ‘unquestionablystrong’ (90DPD+GIA)/GLA Total average increased by interest earning CET1 14 bps assets 3.3% target of 10.5% Source:FY2019resultsandinvestorpresentationsforANZ,CBA,NABandWBC:Deloitteanalysis. Challenges, choices and complexities | Australian major banks FY2019 results Majorbanks:FY2019results AtypicalAustralianbankingreportingseasonafewyearsago Ontopofthis,bankshavehadtoimplementAPRA’sBanking wascharacterisedbyhighretailbankingReturnonEquity ExecutiveAccountabilityRegime(BEAR)effectivefrom1July2018. (ROE),positivejaws,lowerbaddebts,andabovesystem Withintensivecompetitivepressuresfrominternationalbanks mortgage growth. and non-traditionalplayers;‘zerobound’interestanddepositrates; SolidGDPgrowth,highimmigrationintake,andaresilientjob highercapitalrequirementsforNZbusinesses;continuedlarge markethaveprovidedafavourablebackdroptotheAustralian remediationprograms,andthepermanentincreaseinregulatory
    [Show full text]