Press 1 for nobody
NAB is rolling out a new digital banking platform to millions of customers within weeks. It’s being sold as a “game changer.” Banks adore that phrase. It usually means fewer tellers and more code.
The upgrade promises a slicker interface and faster functionality. Fine. That’s the price of entry in 2026. But let’s not pretend this is philanthropy. Digital-first banking lowers costs. Shrinks branches. Centralises control. The customer gets convenience. The bank gets margin. Everyone smiles. Mostly the bank.
Rates climb higher
The RBA moves the cash rate. Some lenders move mortgage rates by more than that. According to YourMortgage, certain banks have lifted home loan rates beyond the official increase. When rates fall, banks cite “funding pressures.” When rates rise, they discover enthusiasm.
Then there’s Heartland Bank. It reversed its RBA-linked mortgage hike. In this market, that qualifies as radical behaviour. Restraint is the new rebellion.
Term deposits are also climbing. Savings.com.au reports fresh market-leading rates following the RBA move. Savers are finally getting something back. Not much. But something. Break out the confetti.
Student beds, big bets
Student housing is tipped to surge through 2026. Broker News calls it a “rich finance pipeline” for brokers. Where there are students, there are rents. Where there are rents, there are loans.
Purpose-built student accommodation is drawing lender interest. Demand looks strong. Supply looks tight. It smells like opportunity. It always does at the top of a cycle.
Resimac reloads
Resimac has turned 40. Instead of cake, it hired talent from Macquarie, Viking Financial and Better Mortgage. Smart move. In lending, distribution is oxygen.
Competition is intensifying. Non-banks don’t have the deposit base of majors. They survive on agility and specialisation. Experience helps. So does hunger.
SMSF temptation
A non-bank lender has expanded its SMSF offering. Self-managed super lending remains a niche with healthy margins. Complexity equals profit.
But SMSF lending lives close to the regulatory flame. It performs beautifully in stable markets. It wobbles when sentiment turns. Risk doesn’t disappear. It just wears a tailored suit.
Brokers want backup
AFG is urging government support for brokers and smaller lenders. The message is simple: competition needs diversity. Funding concentration is a problem.
Australia’s banking sector is famously concentrated. When smaller lenders struggle to access funding, borrowers feel it. When funding costs spike, rates move. Quickly.
Listing meet loans
REA Group has agreed to acquire Simplicity Loans & Advisory. From property listings to mortgage advice, the ecosystem tightens. Control the listing. Capture the borrower.
Meanwhile, Aussie has partnered with Stockdale & Leggo to unlock broker leads. Real estate and lending were always close. Now they’re practically married.
Follow the data. Follow the leads. Follow the margin.
Tax debt bites
Demand for the Small Business Debt Helpline is surging. Tax debt is biting. The ATO has resumed firmer collection activity.
Pandemic leniency is over. The tab is due. Insolvencies are rising. There’s nothing dramatic about tax debt. It’s administrative. Cold. Relentless.
Summary.
Banks are digitising. Lenders are repricing. Brokers are lobbying. Property platforms are integrating. Student housing is booming. Tax debt is mounting.
The thing about busy financial systems is that they look healthiest right before something strains. Sleep lightly.
