Australian Banks
Australian Banks
banks royal commission into wrongdoing
Is it Time to Sell the Banks?
banks royal commission into wrongdoingCalls for an inquiry into misconduct in the banking industry have been coming for some time. If public confidence in the banks is shaken, that could be more damaging than the real potential for misconduct to be brought to light and punished. So, is this the end of the banks’ dominance in Australia? Are our favourite dividend-paying stocks in trouble?
Why Banks Now Want a Royal Commission
banks royal commission inquiryThe royal commission is likely to recommend increases in regulation, red tape and bureaucracy as the solution to the problems that arise. They are less likely to look at options like increasing market competition or mandating technological improvements. And funnily enough, that’s perhaps what the big four banks actually want in the current environment.
Commonwealth Bank’s ATM Design Fail
Commonwealth Bank ATMThe Commonwealth Bank of Australia has potentially just turned its free ATM withdrawals announcement into a marketing disaster. The new ATM rollout is pretty underwhelming to a lot of people. And just at the time when customers from other banks can now freely use your ATMs for withdrawals.
Aussie Banks In Line for Digital Disruption
fintech causing disruptionATM use is in decline. As technology sends transaction costs towards zero, banks will no longer be able to charge exorbitant fees for standardised, commoditised services. Growth will have to come from elsewhere. This is a sign of things to come for Aussie banks.