Tag Archives: Online banking

5 reasons why I do not want to go to the bank branch and 1 why I actually want to go

Before you continue reading go for the exercise yourself and write down reasons why you want, or not want to go to your bank branch. Let find out if we have some commonalities. My thinking started actually by defining a reason for me to go to the branch. Small disclaimer here, I do not say this is what all banking customers want, but I am pretty sure the group of customer that have similar wants as I have is quite big and increasing by the day…

I don’t want to go, because…

  1. I am forced to go because bank procedures force me to do so – My friends are complaining every day. Even I had to go back 3 times to the branch to provide additional documents when applying for a Credit Card (why didn’t you tell me on the phone?). And I am pretty sure I am not alone!
  2. I have to wait – Even with an appointment you are not sure you are serviced directly after entering the branch. The clock is ticking…
  3. I have to come back to (hopefully) finish the procedures – If you are lucky your request is processed flawless, so you only have to come back for a signature.
  4. I have to go the branch because what I want is not offered via the channel I want to use – Specific products (eg. Mortgages) in most cases cannot be bought online. You have to make an appointment to visit the branch. Most of the banks do not provide you to have that appointment after work, forcing you to take leave from work.
  5. If I go to the branch without appointment I am not sure I will leave with my need satisfied – When you access the branch without pre-announcing your visit, there is a good chance the person you need to get your question answered is not attending or available. So you have to come back later…or, Yes, make an appointment.

And all of this takes time. And that is probably the big frustration. Because we know there are faster, easier ways to do all this… Continue reading

Banks are changing rapidly behind the scenes, but still need to have the basics right

During some informal chats with Senior Sydney bankers in the past days one thing became clear about digitisation in the banking industry: Banks are really moving forward and are changing the way they interact with their clients. On the other hand, this does not automatically mean that we are really experiencing the added value this change yet.

Almost all banks have launched one or more mobile apps in the past years. A lot of them were copies of the existing online environment and used to show off, while missing the potential of mobile solutions. We have also seen launches of online platforms by larger banks. It might be worth reading the online reviews before deciding to apply for such an account. Continue reading

New Country Other Developments?

amsterdamtosydney

Recently arrived in Sydney (Australia), from Amsterdam (The Netherlands) I would like to continue doing what I did in the past: Sharing thoughts, insights and developments in the Financial Services industry and the Wealth Management industry in particular. Not limited to any geographical boundaries (which boundaries?) with regards to relevance of the subjects of course.

I will only share from personal interest point of view. But feel free to comment or request my view on other subjects as well.

So far so good in Australia. A well developed country, but one of its own kinds. The weather used to be better and the mood to be more relaxed. Is that why some developments are of a view years behind from the place where I grew-up?

Continue reading