Coles steps up fight with big banks

 In Australia, Coles, NewZealand
Coles has upped the ante in taking on Australia’s big four banks, with plans to issue personal loans in a new service planned for introduction in mid-2015.
The supermarket giant has teamed up with financing major player GE Capital and will split the cost 50/50.
The partnership reflects a global trend of retailers pushing into banking.
Coles finance director Rob Scott said the offering would initially stay clear of mortgages, issuing credit cards and other personal finance products, such as small loans.
"There are a whole range of products and services that we can get involved in," Mr Scott said.
"But we also have a few screens. The first thing is can we deliver fantastic value and, secondly, can we offer great service.  Sydney Morning Herald – Read more…

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