- New Zealand Bankers’ Association chief executive Roger Beaumont said: “This is a complex area. We will consider the consultation paper to determine our response on behalf of the industry.”
- The pilot was being led by the New Zealand Bankers’ Association and included six major banks which would test demand for basic banking services in regional communities.
- “What a hub environment like this can help some customers with is that transition to online and understand it’s OK. It’s safe and it’s not that scary.”
- The NZBA revealed that over two-thirds of consumer loans that had principal and interest repayments deferred due to the impact of the pandemic were now “back to normal,” and nearly 40% of consumer loans that had reduced repayments were also now back on track.
- Association chief executive Roger Beaumont said trial regions were chosen on a range of criteria. “Some of that is geographic spread, so there’s two in the South Island and two in the North Island, and then we wanted to test different scenarios – scenarios where there was still one bank on town remaining, and also... Read more »
- More than two-thirds of mortgage and personal loans that had principal and interest repayments deferred due to the impact of Covid-19 were now “back to normal”, says the New Zealand Bankers’ Association.
- Banking Association chief executive Roger Beaumont said staff at the hubs will be trained to recognise potential financial elder abuse, and there will be systems in place to report concerns.
- Robertson hoped the trials would be successful because he admitted online banking had meant many smaller branches were closing. “It’s not economic for the banks to keep branches open absolutely everywhere, so rather than have nothing, we’ve got the possibility of a hub like this.”
