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Superbank’s closure a lesson for big banks

Superbank’s closure a lesson for big banks


The announcement today of Superbank’s closure sends a message to the major banks operating in New Zealand to invest in front line staff as bank customers demand better service.

Finsec, the bank workers union believes that Superbank’s failure to make an impact in the New Zealand banking market and its subsequent closure confirms that customers want face-to-face interaction with skilled professionals.

“We hope that New Zealand’s big banks take note of Superbank’s failure.” Said Finsec’s Campaigns Director, Andrew Campbell. “The major banks should take from this that customers are seeking high levels of service from skilled, approachable and professional staff.”

“Cheap, supermarket-style delivery doesn’t work. Mortgages and bank accounts are not the sort of products you look for in between the bread and baked beans.”

“While customers are generally happy to use electronic methods and call centres for their day-to-day enquiries and transactions, banks need to focus on recruiting and retaining skilled and experienced staff that customers can build relationships with if they want to retain customers for the long term.”

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