Who’s behind business banking decisions?

In an average 12-month period, 675,000 Australians are involved in making decisions that relate to business banking and other financial services, with more than two-thirds (68.7 per cent) of these decision makers full-time workers, according to a new survey from Roy Morgan.

Of the 50,000 consumers surveyed, 64.7 per cent had a diploma or degree, as opposed to the population proportion of 45.2 per cent.

Men were the net largest pool of decision makers, representing 56.2 per cent as opposed to the population proportion of 49.2 per cent, followed by millennials at 38.7 per cent.

Related News:

The survey also revealed that the highest average of the major decision-making groups was $1.42 million for those earning more than $100,000 per annum, almost double the market average of $730,000.

Industry communications director, Roy Morgan, said the research highlighted the need to understand the diversity of businesses in the market when it comes to decision makers and their needs.

“Business banking not only needs to consider the differences in requirements across industries and business sizes but have a deep understanding of the people making the decisions in those segments,” he said.


Related Content

Industry funds record highest customer satisfaction

Industry superannuation fund high-balance members were the most satisfied of all super members with balances over $100,000, with self-managed superann...Read more

Finance Royal Commission scares bank customers

It’s clear the Finance Royal Commission has scared bank customers with the latest Roy Morgan research showing customer satisfaction had dropped ahea...Read more

Have superannuation savings for women improved?

While the average superannuation balances of intending retirees over the last decade have doubled for both genders, women’s averages still remain we...Read more



Add new comment