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NZ Innovators Awards - Innovation in financial and professional services, Harmoney

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NZ Innovators Awards - Innovation in financial and professional services, Harmoney

“The big four banks in New Zealand are among the most profitable in the world. Why?” asks Monica Mathis, Harmoney’s general manager. Because, she says, while they are lending money to people (to buy a car or take a holiday, for example) at an average 15%-17%, customers with fixed term deposits are getting 2%-4%. “The rest goes into bank operating expenses and profits.”