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There is a large amount of responsibility that comes with being Australia's leading non-bank lender, in a critical time for the mortgage industry.

The big 4 banks are continuing to increase their dominance in the market and so it is vital for non-banks to reverse this trend and ensure healthy competition exists.

Many consumers flocked to the perceived security of the major banks during the Global Financial Crisis. This increased their market share and as a result, competition has decreased.  A lack of competition in the market can be a great disadvantage for customers in the long run.

According to a report prepared by D&M Research in January 2013, 65% of the people polled believed there was not enough competition in the Australian Banking System. This shows that Australians may be concerned about the dire consequences of a lack of competition. Some of these could be declining levels of customer service and increasing mortgage interest rates.

So, who is going to speak up for the consumer? We are. State Custodians is committed to educating consumers about the little known, yet powerful, non-bank lending story. As a non-bank, it is vital that we provide consumers with the facts so they can determine for themselves what represents genuine value both for today and the future.

According to the Roy Morgan Research Business Banking Satisfaction (September 2012), the big 4 banks average rating for customer satisfaction was only 64%. Non-banks, particularly State Custodians, are known for having exceptional customer service. In 2013, State Custodians was the recipient of Best Overall Lender in Customer Service at The Australian Home Loan Awards.

One of the responsibilities of being Australia’s Leading Non-Bank is to listen to what customers want. According to the 2013 Personal Finance Study, 85 per cent of Australians would rather manage their finances online and by being an online lender, we are able to provide new and innovative ways applying for and managing your home loan online.

The Global Financial Crisis has come and gone and it is the non-banks, with State Custodians championing the cause, that will keep competition alive. This will ensure the consumer can access market leading rates, products, service and innovation.