Archive for 2012
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Banks winning the PR war over rates
ANZ’s head of Australian banking, Phil Chronican, believes that the big banks are finally winning the public relations war over interest rates. The public backlash against banks’ interest rate policies is subsiding, he told The Australian this week. “I feel we've moved the debate on and that ...
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Cardholders not so keen on PayPass and TapNGo
Only a third of consumers own a contactless card and those who do rarely use the contactless technology according to a report by RFi. A survey of 2000 consumers found that 48 per cent of those who have a contactless card never use it and 16 per cent use it less than once a month. Only three per cent...
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ASIC concerned about lenders use of comparison rates
ASIC said it had identified numerous areas of non-compliance with NCCP guidelines around comparison rates. The watchdog said many lenders are not advertising the rates correctly. “ASIC wishes to ensure that advertising of the cost of credit and the use of comparison rates is not confusing or mi...
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Business banking customer satisfaction falling
Business bank customer satisfaction has fallen in March by 0.7 percentage points to 65.6 per cent, compared to 66.3 per cent in February. This is the first decline since July 2011 when the satisfaction level was much lower at 61.9 per cent. With businesses feeling less like borrowing in these uncert...
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CBA’s NetBank upgrade to be rolled out “in groups”
Changes to Commonwealth bank’s online banking service, Netbank are being rolled out “in groups over the next few months. This means that you might get all of the changes before your family or friends, or maybe a little while after," said CBA in its regular blog this week. "We’re hoping that wi...
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Channel management is the new buzzword in retail banking
The banking industry may well be on the precipice of another global crisis caused by consumers deleveraging and fiscal weakness in many countries according to CapGemini's World Retail Banking Report. The report surveyed 18,000 bank consumers globally. The latest ABS home loan data, released yesterda...
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CommBank and ING Direct named as world leaders in mobile banking
ING Direct and Commonwealth Bank are named as leaders in mobile bank apps by CapGemini’s World Retail Banking Report. CBA was mentioned for “breaking down channel silos by allowing account applications started in one channel to be completed in another.” ING Direct’s smartphone app was mentio...
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Half of bank customers are waiting for tick & flick switching reforms
Roy Morgan research found one in five Australians are likely to change financial institutions in the next year, rising to almost 50% of people if the paperwork and administrative effort was substantially reduced. Abacus - Australian Mutuals today welcomed the research and pointed to Federal Gover...
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CommBank’s InvestorVille game has 23,000 players
The Commonwealth Bank of Australia has deployed gamification to increase revenue in its home loans division. CBA’s Investorville app released in August 2011 encourages users to ‘invest’ in property using real data in a real-time situation. The aim of the app is to “demystify” property inve...
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CommBank’s new game targets executives
Commonwealth Bank is set to launch a game targeting C-suite executives. Commonwealth Bank general manager of consumer marketing, Martin Whelan said the new game will be part of the bank’s partnership on the upcoming news app from the Australian Financial Review, which is due to launch in a few mon...
