Top 100 CEO Interviews
Issue No. 25 - October/November 2005
Top100 BankSA
Benefits of financial competition
The finance sector has always been a highly competitive market, but in the past few years competition has increased with the diversification of products, emergence of online finance options and increased activity from all sectors including the broker market.
BankSA General Manager Commercial and Regional Business Banking, Colin Taylor says the environment of heightened competition, is bringing significant benefits to customers.
“Each financial institution is striving to deliver greater diversity and flexibility of product, better interest rate offers, and fundamentally improve customer service,” Colin says.
“With so much on offer, businesses are shopping for the best product, price and expertise for each of their particular needs.
“While one financial institution may be looking after a business’s day-to-day transactions, another may have provided the loan for their property.
“The one constant has been that successful SA businesses continue to value the benefit of a solid partnerships with their financial institutions.”
Colin says many business owners are investing heavily to establish networks of trusted business partners, which includes their banks.
“They are working towards creating a tight-knit team of mutually dependent partnerships that are all focused on achieving a business vision,” he says.
“The closer the collaboration of partners, the greater the potential to maximise efficiency, improve s...
