Archive for The Better Banking Blog
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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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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 and CUA are most popular banks on Facebook
Commonwealth Bank increased their Facebook fan base by 7,581 last month reported the Australian Facebook Performance Report by Online Circle Social Media, a digital media consultancy. Bank of Melbourne went up 5,027 and Citibank Australia’s Facebook fans increased 1,120. CBA has 128,000 Facebook f...
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Cloudy with a chance of competition
OPINION The plans for Sony Bank in Australia, Rogers Bank in Canada and Movenbank in the US are all proof banking competition of the future is going to come from non-traditional players. The first big driver for this is the mobile channel, which is leading to a rethink of the way people can ...
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The downside of downtime
OPINION Bank technology has been in the headlines of late for all the wrong reasons. Online banking downtime is becoming a more frequent occurrence, or at least an occurrence that gets noticed more often, as more customers shift online and banks struggle to service them consistently with decades ...
