Latest news with #GreatSouthernBank
News.com.au
5 hours ago
- Business
- News.com.au
‘Slippery slope': Low FHB deposits spark NINJA loan fears
First homebuyers are getting on the property ladder using increasingly smaller deposits, with new data showing they're only stumping up 8 per cent of the loan upfront as governments offer more incentives. Research by Great Southern Bank reveals government assistance and financial help from family are making it easier than ever for first-time home seekers to buy a home. The bank found the average first homebuyer — a third of whom were aged 35 and over — had secured a home loan with a deposit of between 7.7 per cent and 8.9 per cent in the past 12 months. In Queensland, the government has announced a new Boost to Buy scheme allowing those earning $150,000 or less the ability to buy a home valued up to $1m with just a 2 per cent deposit. Independent housing researcher, Cameron Kusher of Kusher Consulting, said governments' involvement in the housing market by way of incentives risked pushing up prices further. In a post on his LinkedIn account, Mr Kusher said: 'I get that we want more people in homes, but 2 per cent deposits for $1 million homes? I fear it is only a few years until governments here in Australia are supporting NINJA loans and 100 per cent LVR mortgages. Superannuation vs. property returns: What's the winner? 'It seems like a slippery slope to me, one that both sides of politics continue to dabble in. 'Not to mention the more that the government is involved in housing, via underwriting LMI, the more incentive they have for higher prices and thus the less incentive for lower prices.' Maria McQullian, a broker of 25 years and owner of Concinnate Financial Services, said the majority of first homebuyers were securing their properties with a 5 to 15 per cent deposit. 'The First Home Guarantee (FHBG), Family Home Guarantee (FHG), family guarantor and lenders' mortgage insurance (LMI) discounts are all beneficial in situations where it might take years to save a 20 per cent deposit and could mean missing out on the opportunity to buy at current prices,' she said. 'Lenders can waive your LMI if you apply for a home loan through the Australian government's Home Guarantee Scheme (HGS). 'It allows eligible home buyers to get on the property market with a deposit as little as 2-5 per cent and Housing Australia guarantees the rest. 'The re-elected Albanese government has also promised first home buyers there'll be no LMI to pay so long as you have a 5 per cent deposit and meet eligibility criteria.' Great Southern Bank's 'No Place Like Home Report' also revealed 43 per cent would look at government schemes for financial help, while about a quarter would ask their family for help or buy with a friend or sibling. Great Southern Bank chief customer officer Rolf Stromsoe said customers were finding a variety of pathways to home ownership. 'These pathways play a crucial role in getting Australians on the property ladder sooner, and with a smaller deposit,' he said. 'Aspirational buyers should strongly consider talking to a home loan expert or broker about their support options — they may need less than they think.'
Finextra
12 hours ago
- Business
- Finextra
10x Banking goes for growth in Apac with Constantinople tie up
10x Banking, the cloud-native core banking platform that powers some of the world's largest banking entities including Westpac and Chase UK, today announced a strategic partnership with Constantinople, the Australian banking software and operations provider. 0 The collaboration sees two major technology companies coming together to provide banks, mutuals, and financial institutions around the world with access to best-in-class banking technology architecture and solutions. Banks spend billions each year building duplicative technology, creating a tension between innovation and growth. Now for the first time, 10x Banking's modern core technology combined with Constantinople's comprehensive banking solutions will accelerate digital transformation, integrate AI and reduce cost-to-income ratios by up to 80% - giving banks and mutuals access to a best-in-class banking stack at a fraction of the cost of building it in house. Sydney-based Constantinople, backed by experienced investors such as Square Peg Capital, Airtree and Prosus, recently raised an A$50 million Series A funding round, following the largest seed round in Australia. Working closely with 10x Banking, Constantinople is already serving customers across APAC including Great Southern Bank, Australia's largest customer owned bank, with over 400,000 members. Dianne Challenor, Co-Founder and CEO of Constantinople, said: 'This partnership showcases our unique ability to bring tier-1 bank capabilities for financial institutions with an entirely software driven infrastructure to run operations and compliance. We can leverage best of breed architecture and tech stack to power retail banks, SME banks and provide embedded banking needs. With the technology we've built, we can now integrate AI into every aspect of banking. We're excited to be working with 10x Banking - which has helped us accelerate our engineering and delivery.' Legacy core systems and siloed business functions have long presented financial institutions with higher overheads and made it challenging to innovate at the pace today's market requires. Research commissioned by 10x Banking showed that 67% of bank executives believe they are losing business opportunities due to the slow pace of digital transformation, yet only 8% of banks are focused on improving their core banking capabilities. The partnership between 10x Banking and Constantinople means these banks can achieve the full core transformation that will enable them to deliver greater value to their customers by focusing on product innovation and greater customer experiences. Antony Jenkins, CEO at 10x Banking, said: 'When 10x was founded, our mission was simple: to make banking ten times better for our customers, their members and society. Achieving this requires building the strongest possible ecosystem of partners. In today's AI-first world, banks, mutuals, and financial institutions must rethink how they deliver value to their customers and members. By combining 10x's world-first meta core with Constantinople's comprehensive end-to-end banking platform and fully integrated operational stack, we take away the burden of managing the complexities of banking infrastructure and operations. Together, we're empowering institutions to focus on innovation, embrace AI and enhance customer experience.'
Globe and Mail
5 days ago
- Business
- Globe and Mail
Great Southern Bancorp, Inc. Announces Second Quarter 2025 Preliminary Earnings Release Date and Conference Call
SPRINGFIELD, Mo., June 20, 2025 (GLOBE NEWSWIRE) -- Great Southern Bancorp, Inc. (NASDAQ:GSBC), the holding company for Great Southern Bank, expects to report second quarter preliminary earnings after the market closes on Wednesday, July 16, 2025, and host a conference call on Thursday, July 17, 2025, at 2:00 p.m. Central Time (3:00 p.m. Eastern Time). The call will be available live or later in a recorded version at the Company's Investor Relations website, Participants may register for the call here. While not required, it is recommended that participants join 10 minutes prior to the event start. Instructions are provided to ensure the necessary audio applications are downloaded and installed. Users can obtain these programs at no cost. The Company will notify the public that second quarter 2025 results have been issued through a news release and will post the results to the Company's Investor Relations website. The earnings release will also be available on the Securities and Exchange Commission's (SEC) website, as an exhibit to a Current Report on Form 8-K that will be furnished by the Company to the SEC. About Great Southern Bank Headquartered in Springfield, Missouri, Great Southern offers a broad range of banking services to customers. The Company operates 89 retail banking centers in Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska and commercial lending offices in Atlanta, Charlotte, Chicago, Dallas, Denver, Omaha, and Phoenix. The common stock of Great Southern Bancorp, Inc. is listed on the Nasdaq Global Select Market under the symbol 'GSBC.'
Yahoo
5 days ago
- Business
- Yahoo
Great Southern Bancorp, Inc. Announces Second Quarter 2025 Preliminary Earnings Release Date and Conference Call
SPRINGFIELD, Mo., June 20, 2025 (GLOBE NEWSWIRE) -- Great Southern Bancorp, Inc. (NASDAQ:GSBC), the holding company for Great Southern Bank, expects to report second quarter preliminary earnings after the market closes on Wednesday, July 16, 2025, and host a conference call on Thursday, July 17, 2025, at 2:00 p.m. Central Time (3:00 p.m. Eastern Time). The call will be available live or later in a recorded version at the Company's Investor Relations website, Participants may register for the call here. While not required, it is recommended that participants join 10 minutes prior to the event start. Instructions are provided to ensure the necessary audio applications are downloaded and installed. Users can obtain these programs at no cost. The Company will notify the public that second quarter 2025 results have been issued through a news release and will post the results to the Company's Investor Relations website. The earnings release will also be available on the Securities and Exchange Commission's (SEC) website, as an exhibit to a Current Report on Form 8-K that will be furnished by the Company to the SEC. About Great Southern Bank Headquartered in Springfield, Missouri, Great Southern offers a broad range of banking services to customers. The Company operates 89 retail banking centers in Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska and commercial lending offices in Atlanta, Charlotte, Chicago, Dallas, Denver, Omaha, and Phoenix. The common stock of Great Southern Bancorp, Inc. is listed on the Nasdaq Global Select Market under the symbol 'GSBC.' CONTACT: Jeff Tryka, CFA,Investor Relations,(616) 233-0500GSBC@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
28-04-2025
- Business
- News.com.au
Revealed: How financial situation is hitting home for Aussies
Shock research has revealed the biggest hit Aussies are taking beats both interest rates and housing prices combined, with many taking drastic steps to combat it. A survey conducted for Great Southern Bank's No Place Like Home report found almost half of all respondents (49 per cent) had changed their medium to long-term financial plans or savings strategy in the 12 months due to the cost of living. That one factor alone outweighed even current interest rates (22pc) and property prices (15pc) combined, with the survey findings Aussies were taking a variety of steps to cope with everything up for discussion – except kids, pets and food quality. MORE: Three cuts: 8 new banks slash rates before RBA May interest rate decision already made for Reserve Bank Dining out is now a luxury not an every-week occurrence for many. Great Southern Bank chief customer officer Rolf Stromsoe said Australians were taking practical steps towards accommodating those cost of living pressures. 'They've made some hard choices on the way. Over half of Australians (54pc) have cut back on their entertainment costs, and almost two-fifths (38pc) have cancelled a subscription service.' 'The savings they are making with those economies are probably helping to pay for the things they won't do without – the essentials and luxuries that matter most to them.' Among the things Aussies are refusing to compromise on were quality food (44pc), their pets (31pc), and children's needs (28pc). Some key lessons learned include almost two-thirds (64pc) of homeowners saying they wished they'd set up savings habits while still in school and over half (52pc) wished they'd bought a home sooner. MORE: Shock: Brisbane prices to smash Sydney Australia's biggest political property moguls revealed An inner Brisbane renter, Brianna (surname withheld), 36, has set up a special account to save for her pet's needs. An inner Brisbane renter, Brianna (surname withheld), 36, said she hopes to be able to have her own home one day, even if it feels like a pipe dream at present. 'I love where I'm renting, but it's still a goal to one day own a home. I know it would give me a lot of security and stability, which is important to me. Sometimes it feels like every time you get ahead, another thing comes up, and it can make the savings journey challenging.' 'That said, I wouldn't cut back on some things, like my dog, Piccolo – who I see as my dependent. Even though he is a very high needs dog, I would never skimp on him. He's on a special diet with fresh meats every day, and he needs medication too, so I have a monthly vet subscription which helps me save money too.' She has a savings account dedicated to her dog's needs and has created other accounts for different goals. 'For example, I might change the name to whatever I'm working on, whether that's 'Uluru', 'A weekend in Melbourne', or 'Piccolo' for my dog. One day, I do want to own a home, which is why I have my 'Big' savings account; I rarely touch this. I want to be able to afford a house and give my dog the yard he deserves.' Mr Stromsoe said 'it's never too late to make smart financial decisions'. 'At Great Southern Bank, we provide Australians with practical tools, competitive savings products and expert tips to help save more effectively, grow wealth, and confidently take steps towards homeownership.' Originally published as Revealed: How financial situation is hitting home for Aussies
