Suncorp-Metway targets Small Business
Suncorp-Metway has launched a call centre targeted at the Small Business Market, for loans up to $250,000.
This move forms a major piece of their strategy to double their market size in this area in the next three years, by way of breaking into the markets south of the border, namely Sydney and Melbourne, as well as increasing their share in Brisbane.
A couple of the key features of the service are 48-hour approval and discounts of up to 1.5%.
The small business market is one of the major stumbling blocks in the way of Big Four mergers; the federal government believe that banks have not done enough in this area to be able to say that competition is alive and well.
It may be that initiatives like this one will open the door for the big four to merge, even though they are not necessarily making the moves.