A unique partnership of six New Zealand banks is trialling a new approach to providing banking services in small regional communities.
Banking Hubs will be trialled in four small towns for 12 months, with the first starting in mid 2020.
The hubs will provide basic banking services and feature a Smart ATM, support staff and online and technology support.
The Banking Hubs will be in Twizel, Stoke, Martinborough and Opunake.
Each Banking Hub pilot will test different ways of adapting to community demand and needs. They will provide different capabilities, with variations in technology and personal service.
NZBA will establish partnerships with local organisations or use existing bank infrastructure branches to host the hubs.
During the pilots the participating banks – Kiwibank, BNZ, TSB, ANZ, ASB and Westpac – will not close regional branches. This excludes co-located Kiwibank/NZ Post premises.
For the purposes of this initiative, regional branches are defined as those outside the city council boundaries of the six main urban centres: Auckland, Hamilton, Tauranga, Wellington, Christchurch and Dunedin.