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Rise of the non-banks

by Annie Kane5 minute read
medieval knight holding sword and shielf rise of non banks tighter serviceability requirement

Non-bank lending has been making a strong comeback in 2018, with credit supplied by banks slowing as a result of tighter serviceability requirements and macro-prudential measures. Annie Kane investigates.

The year 2018 was a tumultuous one for the finance industry. Borrower sentiment towards the banking sector waned, the scandals that emerged from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry hit borrower confidence, while the banks themselves began to reduce their risk appetite and “simplify” their offers. All in all, the environment was one that created an opportunity for non-banks to take a bigger bite of market share, which they did in droves.

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Rise of the non-banks
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Annie Kane

Annie Kane

AUTHOR

Annie Kane is the editor of The Adviser and Mortgage Business.

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