Suncorp Metway Chief Executive John Mulcahy has been getting stuck into the allfinanz and bancassurance concepts.

He told AFR’s Boss magazine the blend of banking and wealth management is misleading, basically about pushing products and not based on customer needs.

Mr Mulcahy believes such integration is more an accountability challenge than a cultural one, and increasing the number of products per customer does not help a business.

Highlighting the “too broad” selling focus, he says the models ignore the profitability of each product and the customer’s requirements.