Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

BankDirect And ASB Bank To Become More Aligned


March 8, 2001

BANKDIRECT AND ASB BANK TO BECOME MORE ALIGNED

Statement made by Ralph Norris, Managing Director, ASB Group


BankDirect and ASB Bank are to become more aligned operationally within ASB Group.

Both brands will retain their own identities, but they will share systems and processes, and will draw on the same support services.

ASB Bank will remain the ASB Group’s main banking brand and BankDirect will continue to extend the Group’s market coverage.

The decision to bring the brands closer together operationally is a logical one. Increasingly, BankDirect and ASB Bank customers are demanding similar services and as a consequence the operations of the two banks are beginning to duplicate each other.

Being more closely aligned will enable both banks to increasingly share the development work undertaken within the broader ASB Group.

The closer integration will be managed over the next 12 months.

Internally, some roles will take on a broader ASB Group focus and this will involve some redeployment within the Group. For customers of both banks it will be business as usual.

When BankDirect was launched a little over three years ago electronic and Internet banking were in their infancy. Since then the broader ASB Group has evolved incorporating ASB Securities, the Sovereign and Colonial organisations.

The realignment of both brands will allow all operations within the broader group to take full advantage of emerging technologies and the strength that comes from the diversity of financial services the Group possesses.

Today, 15% of all ASB Bank customers like using the Internet to undertake transactions while for BankDirect 90% of all its transactions are undertaken electronically.

BankDirect has been a success for ASB Group, contributing significantly to our growth. In some product areas as much as a third of our growth has come from BankDirect.

During its three-year history BankDirect has pioneered a number of progressive and efficient practices which will deliver significant value to ASB Bank, and these best practices will now be shared across the Group.


Issued on behalf of ASB Group by Dennis Lynch,
Network Communications, tel 0-9-379 3154


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>