Briefs: New Auswide CEO on the job, Bank Australia adds Honey, businesses want finance options that

Auswide Bank’s new chief executive Doug Snell had his first day on the job yesterday. Snell was appointed last October, replacing Martin Barrett, who announced his retirement in April last year and left in December. Snell is a 25-year veteran of the industry. His most recent job was chief executive of livestock finance company StockCo. He also headed business banking at Bank of Queensland. Greg Kenny, who acted as interim CEO, will resume his position as a non-executive director.
Bank Australia has signed an agreement with Honey Insurance, which will provide a digital product offering to the bank’s customers. Bank Australia will offer bank-branded home, contents and motor insurance. Honey’s policies are underwritten by RACQ Group.
Research commissioned by Commonwealth Bank and conducted by East & Partners found that 87 per cent of SMEs had to deal with cash flow problems in the past 12 months. The majority of businesses surveyed said they would like access to pre-approved lending facilities, allowing them to use the funding when cash flow is tight or when opportunities arise. Most businesses also said they would like more flexible repayment arrangements, including variations to suit seasonal cash flow, repayment step-ups over time, and payment-free periods when new equipment is first delivered.