We bank with the Bank of New Zealand for two dominant reasons. The technology platform they have is superior, and they are great at managing our business relationship.
The BNZ seem to be continually reinvesting in their technology platform. There are no “quantum leaps” or anything startling, but instead what appears to be a staggered approach to improving the client experience and backend processing. An example of the client experience is that you can now get balance and transaction information from other major trading banks within the BNZ system. A smart feature, which makes it just that little bit easier to do business.
On the backend system improvements, BNZ have just begun giving notices of incoming foreign exchange transactions through the online platform. Previously these were generated by a separate system and physically mailed through the postal system. The savings in transactional costs for the bank must add up. The challenge I give to everyone is to ask “can you do what the BNZ has done, using your technology more productively”? Can we help?