Gil your not giving wes management much credit,no punt intended....

Gil your not giving wes management much credit,no punt intended.
Apparently they have employed some very experienced banking 'experts' to develop and expand coles banking.
The negative list you list applies to all banks and i don't see why wes would go after potential bad debts in any form.
But i still believe wes and wow have not only equal ability regarding cost of credit eg it seems solid companies eg tls ,wes have access to cheap foreign money just like banks.
WES should get their banking license (eg not going thru GE) ,i guess wow will try to compete thru macquarie bank.
But now for the advantages besides customer traffic thru the extensive national store networks and proven ability to sell insurance plus other multipule services,as iv'e listed before wes and wow part owners of eftpos same as big 4,wes owns a very powerful loyolty program in flybuys,wow works with qan FF,wes has agreement with mastercard,wow visa..
Business lending for me both domestic and global is the only part of wes suppling a full service banking service i'm not sure about but maybe in future a partnership with a specialist business bank.
But i repeat technology is the future and imo wes,wow are in the prime position to take advantage of new technology as it slowly is rolled out due to easy store access and high traffic.
Mike smith made a special trip to silicon valley and came back to australia and stated new technology 'terrifying'.wont go into detail,but we are talking about paypal ,nfc etc eftpos has already said ATM's will become absolete replaced with NFC recharging advertising boards as trialled by telstra.
Also as iv'e posted before coles is flooding TV with coles mastercard adds (i prefer wow visa partnership they changed from mastercard) and already they are pushing coles mobile phones with NFC stickers but the real gorilla and imo what the banks are 'terrified ' about is when a monopoly mobile network like telstra decides to partner with wes,wow or maybe their own mobile wallet combined with paypal ,apple etc the banks have got plenty to worry about imo. and imo i'm a happy holder of wes and wow for my future banking stocks.