SPP understands the plethora of change being forced upon Financial Services institutions. Our clients face increasing regulatory burden, increasing customer expectations, business cost pressures, the emergence of new competitors and the ever-present demands of shareholders. These changes pose a threat to profitability and the freedom to operate.
SPP knows first-hand the nature of these challenges and has a proven approach to tackling these complex problems.
The proposed decoupling of superannuation from Modern Awards will shake up the market, in particular for Not-For-Profit Funds.
SPP analysed the deregulation proposal and what the evolving landscape may look like in the next 3-5 years and found that member growth and retention will likely be a significant challenge.
As one of the most significant reviews of the financial system in Australia’s history, the Murray Review was eagerly anticipated in December 2014. Since its release, commentary has been widespread. A number of major recommendations were made by the review, and a broad array of impacts are likely to be felt if these recommendations are implemented.Read More
Despite significant efforts and investments to improve their standing with SME customers, banks still face low satisfaction levels, particularly among those customers that do not have a dedicated Relationship Manager. A survey conducted by RFI into small business banking found that up to 20% of customers are likely to switch banks with a further 30% possibly at risk.Read More
SPP’s client was an emerging player in the financial services sector in Australia. Although the client had enjoyed great success with early offerings in the Australian market, they wanted to identify further growth initiatives to tap into the high potential customer segments of small and medium business.Read More