Bank of New Zealand details digital transformation in Business Chief and FinTech magazines
(Norwich, UK, 12/09/2019)
In this month’s Business Chief ANZ and FinTech magazines, Bank of New Zealand’s General Manager, Digital & Applications, Stephen Bowe gives an exclusive interview on how the bank is using innovative digital solutions to improve customers’ financial health.
Bowe explains how he and his team are transforming the financial institution by delivering state-of-the-art customer experiences through the use of digital tools. He says: “If you look at most digital banking offerings around the world today, they pretty much all look and feel the same. It’s a one size fits all proposition where customer interactions are largely transactional, and the service is increasingly commoditised. The whole process is unexceptional… but it doesn’t have to be like that.”
Bank of New Zealand has created a new online banking platform, YouMoney, which is specifically focused on helping customers manage their funds in a more effective way. In the publications, Bowe details the development of YouMoney, as well as the benefits that the solution has brought to the market. He states: “Since [YouMoney] launched, we’ve been able to save customers over NZD$585m in future interest payments. We’ve knocked more than 135,000 years off mortgages and the average customer has saved over NZD$10,000.”
Bank of New Zealand continues to be driven by one aim: improving its customers’ financial wellbeing. However, Bowe also tells Business Chief and FinTech that the digital journey the company has been on has seen great improvement to its internal culture and allowed it to roll out cutting-edge employee initiatives.
Read more in the magazine.