ING Direct losing ground in online savings
Forebrand’s latest brand study of savings and transaction accounts revealed that ING Direct is losing ground in the online savings market.
While it remains in the Forebrand Best Brand Index top ranking, consumer sentiment towards ME Bank, Bankwest, St George and U-Bank has improved, placing the four brands in a position to win market share.
Forebrand stated that of the drivers of market share growth that customers value most highly, U-Bank was considered to offer the best interest rates, ME Bank was the best in terms of minimal fees and charges, and St George and Bankwest gained consumer favour on issues relating to quality of service.
Consumers placed ANZ in the top ranking in terms of customer choice relating to price, reputation and quality, while CBA’s ranking improved in terms of customer choice relating to ease of deposits and fast withdrawals.
The Best Brand Index revealed that Westpac and NAB were both in market share-losing positions.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
