Trends Report

Australian Financial Services Firms Need To Step Up And Fix Home Lending

Let The Royal Commission Be The Catalyst To Advocate For Your Customers And Rebuild Trust

April 8th, 2019
Zhi-Ying Barry, Senior Analyst
Zhi-Ying Barry Senior Analyst
With contributors:
Benjamin Ensor , Michael Barnes , Seles Sebastin , Bill Nagel

Summary

The Australian government's Royal Commission revealed major flaws in the country's home lending market. So far, the industry's response has been inadequate; financial services firms have yet to demonstrate how they will avoid conflicts of interest and put customers' interests first. Financial services leaders must step up by overhauling their corporate culture, selling or restructuring brokerage subsidiaries, and creating compelling direct-to-consumer offerings. This report examines the shortcomings in home lending in Australia and how leaders can rebuild trust.

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