The banks themselves support the dashboard and whistle-blowing service, with both projects having the backing of bank lobby group the New Zealand Bankers’ Association, the Financial Markets Authority and the Reserve Bank.
Author: Philip vanDyk
Bank closures: Mayors deliver plea for more bank branches to Beehive
“During the Covid-19 lockdowns, banks helped thousands of New Zealanders get better at using online and mobile banking. Those customers aren’t looking back. However, we know that some customers still prefer face-to-face banking, and that’s what this banking hub trial is designed to test.”
Communities demand Government inquiry into rural bank closures
New Zealand Bankers’ Association chief executive Roger Beaumont said: “Branches are closing in some regional communities due to lack of demand. These changes are occurring because customers are banking differently – they can go online, call their bank or use an app.”
Government compels RBNZ to “consider housing” when setting rates
“There’s no single solution to our current housing affordability issues, which is a complex challenge,” said Beaumont. “Potential responses include addressing both supply and demand issues. Today’s announcement is more about managing the demand side, and what mechanisms the Reserve Bank has available to do that.
Banks support new housing remit for RBNZ
Banks welcome today’s announcement that the Reserve Bank will consider the impact of its monetary and financial policy decisions on the housing market. “Banks support today’s announcement and are keen to be involved in discussions around how to tackle the current housing situation,” says New Zealand Bankers’ Association chief executive Roger Beaumont. “There’s no single… Read more »
Delivering in a crisis
Our banks played a role as part of the ‘team of five million’ coordinated response. Working with the government, the Reserve Bank and credit reporting agencies, banks moved quickly to offer loan repayment deferrals and reduced loan repayments for customers financially affected by the pandemic. That provided immediate relief for many. Around $70 billion in… Read more »
Consultation paper: Proposed guidance on advertising offers of financial products under the Financial Markets Conduct Act 2013
Financial Markets Authority
Bank closure irks Waimate District councillors
NZBA chief executive Roger Beaumont said the hub trials will run for 12 months and “Only then will we be able to assess if the communities where the trials are based found them useful, and whether they could form the basis of banking services in places where branches are no longer viable due to lack… Read more »
Provincial mayors call for rural bank branches to be made mandatory
New Zealand Bankers’ Association chief executive Roger Beaumont said customers now preferred other ways of banking and the branches were no longer viable, “In some cases there may be fewer than 10 customers a day in these branches. That’s simply unsustainable.”
Banks are phasing out cheques too soon for rural communities
Bankers’ Association chief executive Roger Beaumont said fewer than1 per cent of customers used cheques and the move to digital services was driven by customer preference.
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