The hub trial will last up to 12 months beginning early next year, costing significantly less than a full branch, says the NZ Bankers Association.
Author: Philip vanDyk
Banks in New Zealand to trial ‘hubs’ in regions hit by lack of branches
“I’d like to thank the banks and the Bankers’ Association for working with the Government on this initiative which will be implemented in early 2020.”
Twizel one of four towns to trial a multi-banking hub
“Each Banking Hub pilot will test different ways of adapting to community demand and requirements and services will evolve over time. They will provide different capabilities, with variations in technology and personal service.”
Banks promise not to shutdown regional branches as Government trials ‘banking hubs’
“The New Zealand Bankers’ Association note that in the past five years, about 70 per cent fewer people have been using branches nationwide.”
Government reaches deal with banks to push pause on regional branch closures
“While many people hardly ever visit bank branches, some people still prefer to bank face to face,” Beaumont said.
Government says the big banks have promised not to close any regional branches while a four-location trial of banking hubs is under way from early next year
“Each Banking Hub pilot will test different ways of adapting to community demand and requirements and services will evolve over time. They will provide different capabilities, with variations in technology and personal service.”
Regional banking hubs to be trialled in towns
New Zealand Bankers’ Association chief executive Roger Beaumont said the partnership of six banks would use innovative ideas and technology to help communities that “feel left behind when physical branches close”.
Financial Market Infrastructures Bill exposure draft
Reserve Bank of New Zealand
Bank and insurer groups welcome govt’s new regime
“We will work closely with the government and regulators to develop and implement the new requirements,” New Zealand Bankers’ Association chief executive Roger Beaumont stated.
Banks welcome new financial conduct regime
The New Zealand Bankers’ Association today welcomed the government’s announcement to introduce a new regime for financial service providers to ensure fairer treatment for customers. “Banks want to treat their customers fairly. It’s good for customers and good for business. We welcome further steps to help ensure we’re doing that. We will work closely… Read more »
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