Profitability, page-27

You seem very motivated to bring up the competitors, for a non-holder.

Anyway, look at it from SWF's perspective. Their options are:

1. Lower prices - gain/retain customers, but sacrifice revenue per customer.
2. Pay out higher interest - gain/retain customers, but sacrifice revenue per customer.
3. Leave pricing as is - lose some customers, but do not sacrifice revenue per customer.

There's no clear answer of which is the optimal path. In any case, it makes sense to keep a focus on customer satisfaction, even if you're not the cheapest on market.

Some of the competitors have selected the lower price pathway, but it is not absolutely the best path. Stake for example do it with a catch, they have some trickery with their FOREX rates.