Banking and Finance
Of late we’ve all watched as the Banking Royal Commission concluded proving that the banking sector is a mess. Whether we secure meaningful reform is the sixty five million dollar question. With dozen of commentators with expert opinions we aren’t going to confuse matters - just talk about the issues that face SMEs as concisely and clearly as possible. From our perspective we feel there are some real benefits for banks and financial institutions working with us to support and understand SMEs better. That’s why from a pure rational point of view, we’d prefer to look at the glass half full, rather than half empty.
Royal Commission Summary
SMEs know there are problems but many don’t have the time to read the analysis. We’ve dissected the Royal Commission to give you an easy to read snap shot of the issues as they affect SMEs. CLICK
Private Investment and SMEs
The investment space is a nightmare and hard to straddle for many SMEs. Read our summary of DOs and DON’Ts. We hope it helps. CLICK
Case Study: Trio Capital and Astara
The Trio Capital / Astara fiasco lost $800M of hard earned money from retirees and investors. What’s ironic about this case is that regulators were so blinkered and so focussed on getting a ‘scalp’, they blew a golden opportunity to get in excess of 60% of the funds under management back. It makes for sober reading and points to a fundamental principle of risk - preemptive regulation is so much more important than prosecution. CLICK
Our Advanced Customer Focus (ACF) program delivered $215M of new business in 10 weeks, for a tier 1 Australian bank by working with and listening to, 500 SMEs. Instead of adopting the strategy the bank continued to FLOG PRODUCT to SMEs that frankly they didn’t need nor want. That poor strategy has been exposed by the Banking Royal Commission stating: “Banks and other financial institutions have put profits before people, greed has been the motive as short-term profits have been pursued at the expense of basic standards of honesty. Too often simply selling products has become the sole focus of attention.”
If you would like a copy of the program please send us an email.