forefront
A run
for
their
money
It's no secret that many Australians are
less than enamoured of banks, but is
this attitude changing? In a world where
transactions are increasingly completed
online, what are banks doing to capture
and keep their valued customers?
Christine Retschlag reports.
I
t's one of the most enduring examples of the
Australian attitude towards authority: the
battler versus the bank; David versus Goliath.
And in recent times this stoush has reached
fever pitch as the Reserve Bank slashes interest rates
while the Big Four sit on their hands, eventually,
almost reluctantly, passing on the savings.
Newspaper headlines have taken advantage of the
discord, questioning whether the nation's large
financial institutions are just "a bunch of bankers".
But are banks copping an unfair rap? In an
environment that is increasingly moving online, is
there any need to walk into the establishment that
babysits your cold, hard cash? What, if anything, are
banks doing to offer their customers better service?
Here and now
Westpac cites its iPad app as its key innovation in
recent times, following a 100 per cent growth rate
in mobile banking in 2012 for the group, compared
with 20 per cent growth in internet banking.
"In July last year we unveiled a new era in mobile
banking with the launch of Australia's most innovative
and customer-led iPad application that takes full
advantage of the tablet's latest features," says Westpac
senior media relations manager Supreet Thomas.
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