- Antony Buick-Constable insisted the banks in New Zealand were different to the Australian parent companies, with separate board made up of directors who were required to act in the best interests of the New Zealand operation, under risk of being thrown out of the industry.
- Banks have spent hundreds of millions of dollars in recent years installing and upgrading digital technology, internet and phone banking. That’s in response to changing customer demand for 24/7 banking services.
- It would be irresponsible not to talk to people about insurance when they’re getting a mortgage, or discussing KiwiSaver options to help them provide for a more financially secure retirement.
- “If you don’t respond, or if your response is incomplete, your bank is required to freeze or close accounts opened from 1 July 2017 to comply with the law. Banks have started freezing or closing affected accounts this week.”
- Sedgwick recommended that any bonuses be based on a range of measures, including factors like customer satisfaction. Some of our banks have already completed this work.
- New Zealand Bankers’ Association deputy chief executive Antony Buick-Constable said the organisation’s latest Code of Banking Practice made a clear commitment to treat customers fairly and reasonably in a consistent and ethical way.
