Athena Cuts Costs, Aids Loyalty
Athena Home Loans focuses on customer loyalty, offering equal rates to new and existing clients while cutting costs to reduce losses.
November 6, 2023
Athena Home Loans: Customer Loyalty and Market Strategy
Athena Home Loans is focused on rewarding customer loyalty and capturing market share from major banks. Despite efforts, its loan book has seen a reduction of 7%.
Unlike many competitors, Athena does not offer better rates to new customers at the expense of existing ones. Instead, they ensure that loyal customers have the opportunity to reduce their rates as they continue paying down their loans.
In a strategic move to decrease financial losses, Athena has reduced expenditures in several areas. This includes cuts in marketing, sales, professional services, and staff numbers, which has successfully decreased their losses from AU$47 million to AU$29 million.
