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

 


Banks 'open all hours' to meet customer needs

KPMG New Zealand Date 2nd May 2006


Banks adopt ‘open all hours’ approach to meet customer needs

The days of banks closing at 4.30 in the afternoon are on the way out – banks are now opening to match the needs of their customers, KPMG’s latest survey of the banking industry finds.

Financial Services Deputy Chairman Godfrey Boyce says banks are responding to customer demand by being more flexible with their opening hours.

“The days of the 9.00 am to 4.30 pm trading day look to be on the way out. ANZ National, ASB Bank and Westpac have increased hours to open at times that reflect when customers want to be doing their banking, including Saturday mornings and late nights at selected branches.

“Bank of New Zealand offers an after-hours currency exchange service at Auckland International Airport and has stated its intention of extending trading hours over the coming year.

“Kiwibank’s trading hours are consistent with New Zealand Post – 8.00 am to 5.00 pm weekdays and 10.00 am to 3.00 pm on Saturdays.

“This tells us that the banks have got the message that their opening hours need to suit their customers, not themselves.”

The survey reports that staff numbers and bank branches have continued their steady growth in recent years – by almost 1,000 staff members and 12 branches during the 2005 year.

“The continuing increase in branches across the banks is a reflection of an Australasian trend which is recognising the importance of branches and having branch managers available to give advice,” said Mr Boyce.

Despite this, the survey finds that there has been considerable growth in alternative forms of banking.

Internet banking increased by 30 percent, possibly a reflection of the success of TradeMe which involves a large number of transactions being settled by internet transfer.

“The latest trend in banking is to do it with your phone – Mobile Banking. As with most new trends, it’s acquired its own named – mBanking.”

ASB Bank, PSIS and Kiwibank have already adopted mBanking while Westpac and ANZ National have utilised text messaging as a way to communicate with students and for them to request information on tertiary accounting packages.

Mr Boyce said that instances of skimming of ATMs are worrying banks and while losses so far have been modest, it had led to enhanced security precautions. He said one upside for customers was that older, more susceptible ATMs are likely to be phased out sooner than planned.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news