Despite credit growth returning to Australia since the global financial crisis, long-term factors, such as the consolidation of banks and Basel III’s risk-weighted capital framework, continue to pose barriers for businesses looking to access funding.
Certainly, Australia’s oligopoly of banks has been well-documented. According to EY, almost 90 percent of corporate funding in the country is provided by just four major banks, compared with 54 percent in Europe and 16 percent in the US.
Writing for Financier Worldwide, Emma Clark, Falcon’s Global Head of Marketing & Corporate Affairs, explains how changing regulatory and economic conditions are paving the way for a number of non-bank lenders to enter the market, each offering competitive and flexible alternatives to traditional funding sources.
Read the full article here.