Issue link: https://viewer.e-digitaleditions.com/i/122153
forefront "More than twice as many Australians said they would prefer to apply for a loan (62 per cent) or get mortgage advice (64 per cent) in a bank branch than by using digital technology," she says. "The results underline why banks need to move with the times and keep up with how Australians want banking services to interact with their lives. We know our customers prefer to do their day-to-day transactions in their own time, either online or by using mobile devices, so our task is to respond to this change by embracing the online and digital challenge and to enable our customers to bank with us on their terms." In October 2012, ANZ announced its Banking on Australia program, which includes: • Refurbishing its branches with open-plan designs and supporting technologies. • Simplifying its products and processes. • Significantly investing in online and digital banking capabilities. • Building the capability of staff to meet changing customer needs through better training, support, insights and customer analytics. • Implementing initiatives to continue to support local communities. ANZ is accelerating plans to renovate its branch network, completing 46 branch refurbishments by the end of 2012. The reckoning OUTthere made a number of attempts to seek comment from the Commonwealth Bank of Australia, but was advised by a spokesperson that only one person could speak about the bank's initiatives relating to the story, and they were on annual leave. Meanwhile, looking at the raft of measures that have been introduced by the other Big Three, are all these bells and whistles enough to appease sceptical Australian consumers? Given the amount of resources currently being injected into this lucrative sector, it's a safe bet to say they're banking on it. On the money A recent Newspoll survey commissioned by ANZ found: • Baby boomers are giving younger generations a run for their money, with nearly three-quarters of those aged 50 to 64 more likely to use digital technology over a bank branch for day-to-day banking transactions. • 88 per cent of people aged 18 to 34 prefer to use digital technology over a bank branch for day-to-day transactions. • 38 per cent of Australians would prefer to live in a world where they didn't need to carry cash.