× General discussion

Why Frega should continue pursuing Banking Licence

4 days 5 hours ago #10139 by Paddy Delaney
I agree Clive

What I believe we will find is the majority of Account holders reacting more responsively will be from disenfranchised situations

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4 days 14 hours ago #10124 by Clive Taylor
We got a great model for a challenger bank. The profit yield by the banks is not the problem as such because one needs profit to provide incentive and to oil the cogs - it is fairly low on Capital Employed. Their challenge is that they have high overhead and consequently operating costs to provide the services people have wanted and required.
Now we have the opportunity to work in tandem and leverage the services through their system at a low cost and that is going to be of huge benefit. It will take a long while before systems adjust to the digital systems and I know that I will always carry fiat currency probably for the rest of my life but the majority of my transactions are electronic. I have a bigger challenge with the finance companies that offer loans at extortionate interest loans and they really keep the poor even poorer. Here we will make a huge difference with micro-loans etc. Exciting times!

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5 days 22 hours ago #10079 by Rob Evans

And a similar story on Stuff regarding these scumbag banks making record profits.
I wonder how much of this is O/D fees? Essentially taking money from people that have no money.
So, I would agree Clive... we need an alternative bank.
The following user(s) said Thank You: Steve Weller, Anita:Technical Support, Angela, Kiwianne, PattiH, Deb Deb

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5 days 23 hours ago #10078 by Clive Taylor
Frega applying for a Banking Licence has always been an exciting aspect of the recent developments for many obvious reasons especially that it is the gateway facilitating business and personal transactions, forex etc at a much lower cost and still interact with the rest of the standard banking sectors. Here is an interesting link that deals with how profitable this sector has been last year - enjoy

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