Archive for Best practice

  • Are Australian banks slipping into psychopath territory? Are Australian banks slipping into psychopath territory?

    OPINION In his 2004 book and documentary The Corporation, legal scholar Joel Bakan argues if the corporation were a person, it would be a psychopath. Bakan makes his case, with emotive language and images, that the corporation is self-interested, inherently amoral, callous and deceitful. The c...

  • Lessons in the making Lessons in the making

    OPINION There's often no prize for being first in banking, which is why the fast follower strategy is so common. But being second, or for that matter, third, fourth or fifth, is only worthwhile if you learn from those who came before you. The industry is currently contemplating MAMBO 2.0 (Bank...

  • Comparison sites trade blows amid calls for greater transparency Comparison sites trade blows amid calls for greater transparency

    NEWS Australia’s financial comparison site market is slipping into murky territory, with accusations of deceptive conduct and calls for greater transparency and regulation. Market veteran Infochoice has defended its decision to list Once products on its site, despite its parent company the O...

  • The machinations of humanity The machinations of humanity

    OPINION If just one customer was expecting to be served via a new communication channel, iinet would find a way to manage it, says iinet head of customer service Paul Cahill (Are you being served?). Telecommunication companies aren't known for their high levels of customer service, but the wor...

  • Why is it so difficult to search Australian bank websites? Why is it so difficult to search Australian bank websites?

    The search experience offered by Australian banking websites has come under scathing criticism from Forrester Research in a new report comparing the web site user experience delivered by Australia’s Big Four banks. The report scored the banks on website value, navigation, presentation and t...

  • Bankers worry about political interference, but less losing sleep in Australia Bankers worry about political interference, but less losing sleep in Australia

    Political interference has overtaken liquidity as the next ‘banana skin’ the financial sector is likely to slip on, reveals the latest survey of bankers from the Centre for the Study of Financial Innovation. The survey of 450 senior executives from banks, analysts and regulators in 49 countries ...

  • Why a lack of competition is holding back Australia's financial sector Why a lack of competition is holding back Australia’s financial sector

    It’s perhaps no surprise that the Government-commissioned report ‘Australia as a Financial Centre’ uses the word innovation just a handful of times. As the report’s authors admit, it’s strength, stability and a sound regulatory environment that characterise leading financial centres. It...

  • Transparency is the new black in banking

    Banks need to refocus on their essential social and economic functions if they are to rebuild trust in the eyes of the public, argued the head of the UK’s Financial Services Authority in September. Lord Turner also called for a return to basics, rather than “over-complex products of no real use ...

  • Where’s your canary in the coal mine?

    Last month James Gardner inspired our audience of bankers at CXFS09 with one question: Does your institution have a canary in the coal mine?Gardner reminded us the landscape financial institutions currently operate in is defined by a vast threat surface. “Every single critical business line we hav...

  • To everything, churn, churn, churn…

    Many organisations operate on the premise that it is better to save an existing customer than it is to find a new one. The theory being that the time and cost to discover, convince and convert new customers is far more expensive than keeping an existing customer.After several decades with one bank t...