AFR article . google it "" The disrupters cutting the big four's...

AFR article . google it "" The disrupters cutting the big four's lunch ""




"" if you want to know what an aggrieved bank customer looks like, look no further than Stewart Koziora.The hospitality entrepreneur and property developer has just had all of his accounts closed by NAB after daring to move a multi-million debt facility to a competitor who offered a better rate.“It was a nightmare,” he said. “Just pigheaded behaviour, I am shocked at how they treated me.”Mr Koziora employs over 100 people and his business interests which include popular Melbourne CBD bar Fathers Office turn over $20 million a year.After a 25 year relationship with the bank he shopped around for a better rate and found one with competitor Judo. Retribution was swift.Mr Koziora received an email from his business banker at NAB who told him they would sever ties immediately.“Our business model is not built of split banking,” the email read.“We have made enquires (sic) to other segments in NAB and there is no capacity for a transfer of the accounts especially given the account conduct over the years and the limited appetite to the industry.”Beneath the civilised veneer of Australia’s banking system, a war is being waged. Not between the big four incumbents, who have dominated the landscape for so long, but between them and the upstarts who are chipping away at the market they have held captive for so long.Judo is an example. Founded by former NAB bankers Joseph Healy and David Hornery, Judo pitches itself as an expert in small to medium enterprises a challenger bank. """