BankWest has entered in to a strategic referral relationship with Allianz Finance to provide debtor finance to the bank’s customers nationally.
Under the new agreement, BankWest will refer all new debtor finance customers to Allianz Finance while existing debtor finance clients will be transitioned to Allianz over the next two months.
Allianz will be offering these BankWest clients debtor finance under the same or similar pricing structure without the ‘red tape’ typically associated with many types of loan facilities, according to Allianz Finance chief executive Brad Bartlem.
As an “added benefit”, he said these clients might “also be eligible for ‘bad debt’ insurance, which helps protect business owners in the event customers cannot pay their bills”.
