Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Non-bank eyes market share

Staff Reporter 3 minute read

Staff Reporter

In a bid to step up its competitive threat to the banks, Yellow Brick Road has become the first non-bank to offer term deposits.

The non-bank lender yesterday announced it had partnered Gateway Credit Union to provide the term deposits to its customer base.

“With the launch of term deposits, Yellow Brick Road is going to sever the big banks stranglehold on the industry,” the lender’s executive chairman Mark Bouris said.

Advertisement
Advertisement

“It is clear from the questions raised at the Senate inquiry into banking competition that politicians of all shades recognise that new competition is badly needed. We will fight for the consumer by opening up the playing field to a new level of competition.”

Mr Bouris said the company is determined to change the way consumers perceive banking by offering personal, all-encompassing wealth management solutions that include home and personal loans, superannuation, accounting, taxation and financial planning needs.

Non-bank eyes market share
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

PROMOTED CONTENT


default

 

more from the adviser
damian zaleski RYyr k3Ysqg unsplash

Breaking News

GetCapital launches broker platform

The business lender has rolled out a new broker platform, as it h...

fixed rate

Breaking News

Loyalty tax issue flagged to MPs

Brokers are key to holding lenders to account to ensure borrowers...

trade deal contract

Breaking News

Connective launches trail book marketplace

The aggregation group has announced a new arrangement with a spec...